Friday, July 10, 2009

China and the dollar's demise

Charles Ortel managing director with Newport Value Partners, an independent research firm, is convinced lawmakers have already doomed the greenback. "In the actions of our politicians of both parties - Democrats and Republicans - all you see is fiscal irresponsibility."
  • The Chinese think over centuries...
  • ...looking at politicians of both parties and all you see is fiscal irresponibility
  • How long can America afford to maintain its military assets in the Pacific?
  • The Chinese are snapping up raw materials, natural resources, timber, and energy assets

In the previous segment, he says that there are three americas: pure private sector, public sector, public companies that feed off the public trough. The last is the clientel of the Bush administration. The implication is that the Democrats sponsor the public sector.

A political economy

A recent piece in the Economist ( A new anthology of essays reconsiders Thomas Piketty’s “Capital” , May 20, 2107) ends with these words: &q...