[PEN-L:6666] Re: Deadbeat America: the end of deficit hegemony?

[Doug Henwood <dhenwood@xxxxxxxxx>]

Tom Walker wrote:

>At some point in the game, the other players have to ask, "Am I just
>throwing good money after bad?" The events of May 7, 1999 and after have
>given the world -- not least, China -- a clear sign of the U.S. lack of good
>faith. The knee-jerk response of the Clinton administration was to excuse
>themselves of responsibility. They figured they could short-change China
>with a glib evasion.

Long ago, back in the Reagan era, Albert Wojnilower said (I'm doing this
from memory, so it may not be perfect): "Americans remain a heavily armed,
mercurial people. Claims on such people should be made with care."

Doug