Academic

KEVIN WILLIAMSON: ?In general, I think we put too much weight on things like Chinese dollar reserve?

By Glenn Reynolds

KEVIN WILLIAMSON: “In general, I think we put too much weight on things like Chinese dollar reserves, or the fact that the global oil trade is conducted in dollars, and the like. Our real economic problems are far simpler: We spend too much, borrow too much, carry too much debt, have a poorly structured tax system and an overextended national-defense presence, are governed by a Congress of children, and refuse to believe that the laws of supply and demand apply to U.S. dollars and U.S. Treasury bonds.”

Full post as published by Instapundit.com on January 20, 2011 (boomark / email).