AggregateDemand
Jr. Member
Posts: 1,873
|
 |
« on: January 31, 2015, 06:38:10 PM » |
|
Currency pegs are an unsustainable illusion. More news at 6.
*yawn*
What did people expect? If China can't peg its way to riches, Switzerland wasn't going to pull it off.
And just think about how screwed they'd be, if they had been ridiculous enough to pass guaranteed minimum income prior to this announcement. The US suffered because of onerous payroll taxes. Multiply by 1000% the socioeconomic impact of hollowing-out of the US manufacturing sector, and you'd have some vague conception of what a guaranteed minimum income would do during rampant franc appreciation.
|
