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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (126954)	7/22/2005 7:53:33 PM
From: JohnM	Read Replies (2) \| Respond to of 793688

. . . . why not read the discussion starting at p. 847 from this excellent Brookings paper,. .. . Excellent stuff. And understandable. Thanks for posting this link and the ones to the papers on international economics. The problem I find is understanding the international economics stuff. I can never get my head around the mechanisms. I see the danger but don't clearly see the arguments that translate those dangers into recession/depression events. Someone argues there will be a smooth decline and offers mechanisms; I have to nod. Someone else argues there will be a precipitous decline; I have to nod. I know two things out of this. The Laffer arguments, which Bill appears to like, make no sense at all. And continued belief in them only makes matters worse down the road. And, second, the trade deficits will eventually produce some sorts of international economic crises. When and how bad is simply beyond my understanding.