America-The Fourth World Nation
Paul Krugman points out today that the USofA would be getting the hairy eye from the financial markets if it were a "Third-World" nation following its current policies. And I'd find the colum highly informative had I not gotten the same information via Calpundit a couple of days ago. But Mr. Krugman still gets off a few nice lines:
Third world countries typically suffer from institutional weaknesses. They have poor corporate governance: you can't trust business accounting, and insiders often enrich themselves at stockholders' expense. Meanwhile, cronyism is rampant, with close personal and financial links between powerful politicians and the very companies that benefit from public largesse. Luckily, in America we don't have any of these weaknesses. Oh, wait…
You know us old-school types can appreciate a demonstartion of good skillz at playing the dozens. Krugman's gonna get nominated for a brother card if he keep playing like that.
Posted by Prometheus 6 on October 14, 2003 - 3:59am :: Seen online
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