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We have the same problem with the China/US debate on the savings glut vs. the debt binge.

Also, there was a chance of a balanced international system wat Bretton Woods (namely, Keynes' International Clearing Union) but the US, being then the exporter of last resort, saw fit to take the same position of superiority.

The brainless should not be in banking -- Willem Buiter

by Migeru (migeru at eurotrib dot com) on Tue Apr 13th, 2010 at 05:08:42 PM EST
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