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View Diary: Shutdown ended, but the economic whacking it gave us is far from over. Where is the long view? (131 comments)

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  •  P.S. And I do agree that having one's own (0+ / 0-)

    sovereign fiat currency makes a lot of the perceived problems go away, especially one with the power of ours.  The European periphery has been handcuffed by comparison and it has shown.  

    •  definitely. I was reading a disturbing article (0+ / 0-)

      by the IMF the other day (damn, I didn't save the link!) about how their economic policies are working perfectly.  They were talking about how the periphery was getting more "competitive", a clear euphemism for wage and standard of living cuts, and that was going to allow them to become bigger exporters as the pathway back to growth.  And in a sense, I guess they are right, if you are using a currency you don't control (just like state and local Govts here at home) you have no choice but try and export, or receive external funding (subsidies) just like all of our red states do.

      MMT = Reality

      "The Earth is my country and Science my religion" Christiaan Huygens. Please join our Kos group "Money and Public Purpose". The gold standard ended on August 15, 1971, its time we start acting like it.

      by Auburn Parks on Thu Oct 17, 2013 at 03:08:38 PM PDT

      [ Parent ]

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