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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: patron_anejo_por_favor who wrote (106127)6/2/2001 7:50:07 PM
From: KyrosL  Read Replies (2) of 436258
 
I find Noland's articles interesting but definitely biased. Very rarely does he mention the Federal budget surpluses that have converted the US into a model country from a fiscal standpoint, and made the US public debt as a percent of GDP the lowest by far compared to any other developed country -- you get a much different picture of the US credit situation if you include public as well as private debt. Nor does he mention the fact that the low unemployment has lifted and given hope to millions of people that had previously wallowed in welfare for generations. And he does not mention the drastic decrease in crime, which is approaching generation lows, and is in large part due to generation low unemployment rates. There are lots of good things associated with the bubble. If Greenspan manages to deflate it in an orderly fashion he will be a hero.
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