esrosedotblog

CHICKEN LITTLE TAKES A BREAK

With all the sweat about the deficit it seems that people have not noticed that the "deficit crisis" is on its way of solving itself!

Raw Data, the Deficit is Shriiiiiinking

What about all the prognosticators? Wrong as usual.

The doomsday people? Quiet. The election is over after all.

This morning, I noticed that FoxNews has turned its attention to the threat of North Korea. (They are about to attack LA).

I am not an economist, but I have lived long enough to understand that a)The country is not like a business or a family. Borrowing is an important positive to manage the economy.

In addition, b), most of the debt is not held by foreign countries, notably China. It is held by Americans. File that one away too.

We owe it to ourselves in more ways than one.

The air is filled with nonsense which is often taken way too seriously. Adam Smith's "invisible hand" has not been cut off. It is moving and pushing and holding and correcting.

Labels: economy