122 sensible American economists

September 26, 2008 — drsubrotoroy

$700 billion comes to more than, uhhhm, $6,000 per income taxpayer in the USA.

I was glad to see the sensible letter of 122 American economists to US legislators regarding the Paulson-Bernanke plan to address America’s financial crisis.

Somehow, I have an inkling that foreign central banks have been left holding more bad US debt than might be remembered — which would explain the embarrassment of Messrs Paulson and Bernanke vis-a-vis their foreign counterparts… Dollar depreciation and an American inflation seem to be inevitable over the next several years.

Subroto Roy

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Posted in American academia, American financial crises, Banking, Ben Bernanke, Economic Policy, International monetary economics, Lehman Brothers crisis, Macroeconomics, Monetary Theory, Money and banking, US Federal Reserve System, US in World Trade, US Monetary and Fiscal Policy. Leave a Comment »

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