We live the way we live because China, Russia and a bunch of other countries line up to lend us money at ridiculously low interest rates...
Putin says U.S. is "parasite" on global economy
LAKE SELIGER, Russia (Reuters) - Russian Prime Minister Vladimir Putin accused the United States Monday of living beyond its means "like a parasite" on the global economy and said dollar dominance was a threat to the financial markets.
http://news.yahoo.com/putin-says-u-p...191447751.html
We live the way we live because China, Russia and a bunch of other countries line up to lend us money at ridiculously low interest rates...
...which means we can't be responsible.
dollar dominance? I thought monetary inflation would make the dollar worthless by now....
People taking Putin seriously...
Russia, outside of its nuclear weapons and UN Security Council seat, is little more than comic relief these days.
It is the slightly slow relative at the party that no one wants to be trapped in a corner talking to.
Just becuase Russia has issues doesn't make Putin's statement inaccurate. Frankly, I think there's a lot of truth in what he said.
The contemporary mentality is that we can't be until we have to be. This whole 11th hour debt ceiling negotiation just adds to the credence.
It probably is true, but it's irrelevant.
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