Once Upon a Decade 1968-1978: A Tale of Two Countries
In I968 Richard Nixon was elected President and sworn in on Quaker family Bible turned to a page containing "beating swords into plowshares."
1972 Nixon visited Moscow and negotiated an Anti-Ballistic Missile Treaty with Russia, and was the first sitting President to visit China, establishing relations there.
Nixon then took the US off what remained of the gold/silver standard with silver coins being changed to silver-colored copper coins, and agreed that "We are all Keynesians now," opening the door to unlimited spending, "quantitative easing," and a $28 trillion debt.
During the same period the Nixon administration declared a "war on drugs" and initiated the No-Knock Laws, co-sponsored in the Senate by Democrat Ted Kennedy, which gradually led to the militarization of US police.
In 1973 Nixon ended conscription and withdrew US troops from Vietnam. (At least he did something positive.)
1976 Jimmy Carter was elected President, and on his second day in office pardoned Vietnam War draft-dodgers.
1978 The Carter administration expanded the US bureaucracy with the creation of the Departments of Energy and Education.
Meanwhile in 1978 the Chinese Communist Party picked free market advocate Deng Xiaoping to lead them out of their economic nightmare.
It worked, and for the last four decades central command economists like Paul Krugman and Robert Reich have been chanting a mantra that the Chinese economy is overheated and about to crash, while the Chinese government loans the US money.
Currently the Chinese government is trying to encourage the development of it's service industries which the US dominates.
http://www.forbes.com/sites/sarahsu/.../#f3cf1ad1e367
It seems that Krugman, Reich, and other US mainstream economists are going to have to wait a little longer to achieve their first accurate prediction:
In I968 Richard Nixon was elected President and sworn in on Quaker family Bible turned to a page containing "beating swords into plowshares."
1972 Nixon visited Moscow and negotiated an Anti-Ballistic Missile Treaty with Russia, and was the first sitting President to visit China, establishing relations there.
Nixon then took the US off what remained of the gold/silver standard with silver coins being changed to silver-colored copper coins, and agreed that "We are all Keynesians now," opening the door to unlimited spending, "quantitative easing," and a $28 trillion debt.
During the same period the Nixon administration declared a "war on drugs" and initiated the No-Knock Laws, co-sponsored in the Senate by Democrat Ted Kennedy, which gradually led to the militarization of US police.
In 1973 Nixon ended conscription and withdrew US troops from Vietnam. (At least he did something positive.)
1976 Jimmy Carter was elected President, and on his second day in office pardoned Vietnam War draft-dodgers.
1978 The Carter administration expanded the US bureaucracy with the creation of the Departments of Energy and Education.
Meanwhile in 1978 the Chinese Communist Party picked free market advocate Deng Xiaoping to lead them out of their economic nightmare.
It worked, and for the last four decades central command economists like Paul Krugman and Robert Reich have been chanting a mantra that the Chinese economy is overheated and about to crash, while the Chinese government loans the US money.
Currently the Chinese government is trying to encourage the development of it's service industries which the US dominates.
http://www.forbes.com/sites/sarahsu/.../#f3cf1ad1e367
It seems that Krugman, Reich, and other US mainstream economists are going to have to wait a little longer to achieve their first accurate prediction:
via International Skeptics Forum https://ift.tt/2NpRpJW
Aucun commentaire:
Enregistrer un commentaire