[FoRK] Critiquing Alan Greenspan

Bill Stoddard bill at wstoddard.com
Mon Mar 28 10:07:08 PST 2005

Jeff Bone wrote:
>  From The Cunning Realist:
>     http://cunningrealist.blogspot.com/2005/03/maestro-living-history.html

Which side of the inflation/deflation fence are you on (for the US economy)?  My arm chair economist thoughts...

World capitalism (and respect for property rights), increasting democratization and the internet will prove 
deflationary to the US economy.  US wages (and consumption) must fall during the global rebalancing we're just 
now entering.  US workers whose professions can be carried out 'remotely' (ie, most of high wage america) are 
the autoworkers of the 21st century. As folks begin to loose their homes due to layoffs and 'restructuring', 
we will see a strong shift toward socialism (and trade restrictions) in the US.


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