Re: Dan Gross on Bush is plundering Social Security

Harold Scott wrote:

> The International Monetary Fund, which usually frets about runaway=20
> fiscal policies in developing countries, yesterday released a report=20
> <http://www.imf.org/external/Pubs/NFT/Op/227/index.htm> that warned of=20
> the dangers to the global economy posed by the United States' lack of=20
> spending discipline, its reliance on foreign creditors, and its failure=20
> to plan adequately for future government liabilities.=20

Dear Harold,

I once asked Ravi Batra why he expected the expected
US depression to be inflationary, rather than deflationary
as in the '30s.

Dr. Batra is extremely considered in his books, and in
his replies.

He said, he expected this depression to be inflationary
as, every 3rd World Country that goes into depression,
experiences inflation.

And, he is confident that we have declined, so much,
that we are no better, or, aka, included now in
3rd world countries.

So, I found the IMF study you cited to be especially
interesting.

If Ravi would care to comment, I'd be pleased to
forward.

Regards,

Curtiss

-- 


           W. Curtiss Priest, Director, CITS
   Research Affiliate, Comparative Media Studies, MIT
      Center for Information, Technology & Society
         466 Pleasant St., Melrose, MA  02176
   781-662-4044  BMSLIB@MIT.EDU http://Cybertrails.org