The more things change..............................

I would like to answer Subramanyams comments in yesterdays post as a blog entry.


Even if US prints the money, ulitmately it is reflected in its budget as a liability which means it is tax payers money. Tax payers will have to pay by way of higher taxes, higher interest rates, higher inflation in the long run. Thus it definitely affects the tax payer and comes out of his pocket one way or other.



No I do not think any structural changes will be done in the US Economy. They are far too arrogant, and lacks humility to admit they goofed up. The same US, and its cronies World Bank and IMF used to give unsolicited advice as to how to cut subsidy, reduce deficit, open up economy etc to third world countries faced with similar problems not long ago. Now there is no peep from IMF or WB or US. The vested interests in this system have deep roots and they wont allow any changes barring cosmetic ones.

The more things change, the more they remain the same