Does the USA need a perestroika?

[Rath]

NJ5 said:

Rath said:

Personal finances are nowhere near as complex as an economy, the associated problems with going bankrupt are not similar to the problems of a financial system collapsing.

I agree the economy is still uncertain and your deficit is ridiculous, but I don't think the analogy properly conveys the consequences.

In that post I was talking about the attempted solutions, not the consequences of the economic problems.

 

Ahh ok, it's a better analogy then.

 

Still, I think the massive deficit is going to be merely disastrous as opposed to what I believe would have been catastrophic without the stimulus. The aim of the stimulus was basically to hold up the economy while it repaired itself - I'm fairly confident (and very hopeful) that the economy won't go back into freefall once it's removed (though doubtless the effects will be felt). I really don't know how America is going to dig itself out of the hole though, I mean neither party seems to really feel like actually having a balanced budget.

Also I find it amusing that Mao is attacking the idea of a perestroika out of an ideal for capitalism when a large part of the perestroika was introducing capitalism.