Wisconsin Matters To The World & THE CHE GUEVARA MYTH

"The United States has been getting away with surreal levels of debt for far too long. If the dollar were not the world’s reserve currency, a major debt crisis would have exploded by now. The total outstanding federal debt has reached $14.1 trillion, almost the equivalent of what the economy produces in a year. Meanwhile, the annual deficit, a major source of that ever-mounting debt, stands at more than $1.6 trillion for 2011. It represents almost 11 percent of the nation’s gross domestic product—which compares pitifully even with Greece, whose deficit in 2010 amounted to 8 percent of that country’s economy.

As a result of these imbalances, and of the illusion that unemployment can be brought down with government spending, the Federal Reserve has been printing dollars like crazy—half of them to purchase Treasury bonds. The policy of easy money has contributed to skyrocketing commodity prices, whose ugly political, social and economic consequences we are only beginning to see around the world.

Given this context, the battle of Wisconsin—who would have thought?—has acquired planetary significance. If the forces of reason prevail, the contagion could spread like wildfire, bringing sanity to Washington and across the nation. If they don’t, the best chance in many years to reverse America’s slow decline will have been missed."
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Also by Alvaro Vargas Llosa THE CHE GUEVARA MYTH & the Future of Liberty