U.S. economy living on borrowed time?
The chief economist of the International Monetary Fund, Kenneth Rogoff, said today if a ‘poor developing country’ tried running a deficit equal to 5% of annual output, the market would give them ‘just enough rope to hang themselves’ before credit stopped and the currency went into freefall. He’s talking about the U.S.!
You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Leave a comment.