24 janvier 2008
4
24
/01
/janvier
/2008
13:25
Pancho is not happy about this.
It is received wisdom in Europe that
US economic policy has been run by
lunatics since time immemorial (or at
least since George W. Bush became
president).
But no self-respecting
European policymaker would suggest
he was happy to see the US economy
in the emergency room. Or would he?
The faint but unmistakable odour of
"I told you so" was wafting through
the disinfected corridors of Brussels
yesterday. One European finance
minister after another rolled out to
state to the press, with as little
obvious glee as possible, that the US
was paying for years of irresponsible
economic and fiscal policy.
Europe's Pancho El Villan, who began
describing the international political
and economic landscape through a blog
since 2005, went so far as to say that all those
"reckless?" policy errors had at the end to match
with the famous quote once told by Milton Friedman,
"There is no free lunch."
What's more, he went on, just keeping the
crocodile tears under control, he and some of
"his" fellow American Economists "repeatedly"
warned the US policy-makers to mend its ways - to no avail.
But why were US policymakers not listening?
One thought is, er, that they did not know who
Pancho El Villan was. But hang on, that's impossible
- he wrote quite a lot (but long time ago) on the
"pkarchive" & over at Brad DeLong's Blog since 2003.
He is a "passive and indirect" counsellor in
political and economic affairs. And he's got a nice
line in sarcastic humour.
Wake up, America?
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