Tuesday, January 29, 2013

He just said we're going to kill the dollar

“How do you solve a problem when you are running a 10% fiscal deficit. You are not going to get growth in the absence of private sector demand. So the government's idea now is we are going to export our way out of this. When I asked a senior member of the Obama administration last week, 'how are we going to grow exports if we do not allow nominal wage deflation?', and he just said we're going to kill the dollar. It's a dead answer but that's where we're headed".


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You are not entitled to your opinion. You are entitled to your informed opinion. No one is entitled to be ignorant.

Harlan Ellison