Friday :: Mar 6, 2009

Open Thread


by Mary

Paul Krugman describes the cognitive dissonance that blinds the Obama Treasury team to the reality that the toxic assets on bank books are really not worth what they believe they are and why this is a serious problem for the economy. Getting it wrong can condemn the US (and a great deal of the world economy) to a decade or more of what Japan experienced in the 1990s.

Mary :: 12:00 AM :: Comments (7) :: Digg It!