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Politics : Formerly About Advanced Micro Devices

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To: TimF who wrote (224671)	3/17/2005 4:05:50 PM
From: combjelly	Read Replies (1) of 1572211

"Are you saying that the deficit will result in a major unmitigated diaster?" I suppose it depends on your definition of "major unmitigated disaster". The economy of the early 1970s through the early 1980s was close enough for me. Given that the national debt is about an order of magnitude higher and our deficits are also running an order of magnitude higher, pre-Reagan at least, it could be worse. A lot worse. The move of at least some countries away from buying Treasuries at a time when the US was heedlessly running higher and higher deficits has a remarkable resemblance to now... Ok, there are differences. Polyester isn't popular. Tie dye is out. Bell bottoms are gone. Gas isn't $0.19 a gallon. Haven't seen a God's Eye in decades. You can't get an AC Cobra for less than $150k. We aren't mired in Vietnam. We don't have much in the way of middle management. We don't have the social safety nets that existed then. And we have a larger percentage of the population below the poverty line. I don't see how any of these things improve the situation, except for Vietnam, the polyester and tie dye...

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