Saturday, January 24, 2009

 

"Would You Chinamen Stop Saving So Much?!?!"

You might expect such analysis from The Dishwasher or The Water Boy, but no, it's from The Economist (HT2 Tim Swanson). I don't even need to read this article. Even if it were somehow true that Chinese savings are causing "global imbalances" and hence our financial crisis, that would just prove to me our current financial system is screwed up. (But I don't think it's true anyway.) You gotta love this picture:




Incidentally, I know that "chinaman" is not the preferred nomenclature.

# posted by Bob Murphy @ 3:05 PM


Comments:
Hi Dr. Murphy -- this is John Thurow (Hillsdale College student of yours 04-06!)

I just wanted to add that I have been deeply disappointed by the analyses from The Economist since Obama came on to the scene. So to have them state that China is at fault...well, it isn't very surprising.

Enjoying the blog. Keep it up!
# posted by Blogger NO : January 24, 2009 at 10:11 PM
 
Hey John nice to hear from you. Yeah I thought The Economist was cool for about 3 issues a long time ago.
# posted by Blogger Bob Murphy : January 25, 2009 at 11:03 AM
 
The Economist is a wonderful source of information on topics of which the reader knows nothing.
# posted by Blogger James Rothfeld : January 25, 2009 at 10:06 PM
 
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