Really? I guess Mr. Cheney has not been reading my blog and thousands of others. How come we all knew and they didn’t? Stupidity? I doubt it. Cheney is a very smart guy. Intentional? What other explanation is there?
(Yahoo news story and interview no longer available.)
Cheney said that “nobody anywhere was smart enough to figure it out.” Is that so? I guess I should consider that compliment but I don’t. Anyone with a knowledge of history and economics could see it coming more than 10 years ago. You can’t borrow and borrow (in other words, print fiat money) without limit without it coming back and biting you. The same is true for countries as it is for individuals.