Zombinomics 1
Writing as “Spengler” at Asia Times, David P. Goldman is gloomy. A nugget:
Read the whole thing, then go have a drink. Or four.
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June 14, 2011 at 2:51 pm
[…] At Pine View Farm, readers are pointed to an article in the Asia Times which indicates that current US economic activity is 40 percent transfer payments. It calls this a “zombi economy,” one where the banks sit on their cash, not dead and not alive, making money slowly on their toxic assets. […]