expat_panama
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- Apr 12, 2011
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Real Clear Markets said:To read economic and political commentary with any kind of frequency is to be bombarded daily - and hourly for that matter - with breathy articles about a United States groaning under deficits that surely signal bankruptcy, Social Security checks that eventually won't clear, and of course a looming financial crisis. A recent New York Times column by noted deficit scold David Stockman naturally referenced America's "desperate" financial situation.
Much of this commentary is well written, it's certainly popular, but it's also total nonsense.
More at RealClearMarkets - Let's Put to Bed the 'America Is Bankrupt' Myth
Sorry, couldn't resist starting up a flamewar.
Maybe after this I can start threads on how average US real incomes are up, inflation doesn't exist, but hey let's stick to one hornets nest at a time...