Other people’s money

by Russ Roberts on March 25, 2010

in Debt and Deficits

So you live beyond your means and rack up a bunch of bills you can’t cover. So you go to your rich uncle. He’s tapped out, alas. And tired of supporting you. So he goes to his rich uncle who’s even richer and known for his desire to keep the family name unsullied. But what if he’s tapped out? Those are my thoughts when I read this story that Sarkozy is supporting Merkel in getting the IMF to bail out the Greeks. The IMF is the richer uncle. Eventually the other guy runs out of money. We’re going to have to start borrowing from Mars or Venus soon.

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{ 1 comment }

Miles Stevenson March 26, 2010 at 4:10 pm

@rayllove comment #27:

Well, I counted 81 words and 6 commas in your first sentence, so the chances are pretty high that I might be misunderstanding you. I’ve attempted to unravel what you mean, so I’ll give it a shot.

It *seems* like you are saying the following:

1) There are no countries which demonstrate that “European Socialism” is inferior to Capitalism.

2) There are many countries that demonstrate “European Socialism” is superior to some standard (Capitalism?).

3) There are no countries that demonstrate Capitalism to be superior to “European Socialism”.

Am I accurately describing your points? If not, would you mind re-phrasing your argument in shorter, simpler sentences? I really need some clarity as to what your actual claims are. I’ll go ahead and ignore the rest of your comments because they seem more like ad hominem attacks than anything else and I personally find that to be non-productive.

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