Summary: The Greek-eurozone tale is a common one, much like that of America’s inner cities. As usual, the Right begins its tightening with the weak and poorly behaved. People are told that they deserve their harsh fate. But it doesn’t end with them, as austerity is a medicine always requiring another dose. {1st of 2 …
Germany’s treatment of Greece shows what the Right wants us to become Read More »
Summary: Greece had its election. The pro-austerity party won, despite their policy’s lack of success — and lack of historical for theoretical foundation (it’s contrary to basic economics). Despite the applause in the banker-dominated news media, it’s unlikely to work, and every month of delay only makes Greece weaker — less able to well-manage an …
Whither Greece after the election? Why do they stay on a doomed course? Read More »
Summary: Today Europe’s leaders have the last opportunity to avoid a great crisis. Will they continue to demand increasing austerity of the Greek people, pushing them further on a path devoid of hope and leading to poverty and political collapse? Or will they realize the folly of their actions? Updates will be posted in section …
Europe passes the last exit. A great crisis lies ahead. Read More »
Summary: We’re living in an time of deja vu. Our Af-Pak War repeats the mistakes of Vietnam; Europe’s economic policy repeats mistakes of the 1930’s. Slow and stupid are the two sins God always punishes. (1) Mark Thoma (Prof economics, U Oregon) coined a term for the advocates of austerity now (i.e., increase savings during a recession; they …
Keynes comments on our new-found love of austerity Read More »
Introduction: This is another in a series of dashed off speculative opinions. Normal procedure on the FM website for these topics would be 3 thousand word posts, supported by dozens of links. I dont’ have the time to finish them, and too many of these outlines have accumulated in my drafts file. Perhaps these will spark useful debate …
A lesson from the Weimar Republic about balancing the budget Read More »
