In today’s FT
This entry was posted on Wednesday, November 25th, 2009 at 15:06 and is filed under Economic History. You can follow any responses to this entry through the RSS 2.0 feed.
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Vietnam war does not show up with an upward spike …
So, should we count on US relaxing the immigration policies and cooling down with the “war on drugs” ?
If the UK can carry a 200-250% debt at times of crisis, why can’t the US?
obviously they did the Vietnam War on the cheap…
Regarding what to expect, of course I’d better shut up, but one thing is certain: we are not in the 1780s nor the 1940s any more, borrowing is cheaper so it is possible for much higher government debt to be manageable and sustainable (sort of new financial revolution). However, I’d go for the safe option on this one and diminish deficits asap.
Doesn’t look so much as if it’s time to worry as that the next 25 years need to resemble 1948-1973 a lot more than 1974-2009.
(Cute how they use the different scales to make it look as if the U.K. isn’t on the same level of spending as the U.S.–of course, we made a profit from the “Great War.”)
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