Paul Krugman - Economics
Yassar Arafat - Peace
Barack Obama - Peace
Enough said
How dare Germany have the audacity to want it’s loan paid back.
He is in the Krugman mold, an Ivy League, Nobel winning fool who thinks Europe should have more France and less Germany. His ideas are the reason Europe is trapped in slow to no growth and high unemployment.
Germany has considered it. I never did find out whether those stacks of newly printed Deutschmarks that were rumored to have been stashed in the Bundesbank cellar were real. However, in this particular case, someone has to provide the money that Greece is still spending in deficit to run its government and its social programs. A chart I saw on FR yesterday suggests that they’ve slashed spending by 25%, which is a great start, but (1) they still need to borrow the overage, because (2) they can’t just print the drachma to cover it like the U.S. can with dollars. Stiffing your biggest creditor is probably not very conducive to future loans from anyone, much less that creditor, and that creditor leaving the Eurozone is worse. The money has to come from somewhere.
It is only Germany's fault because they let Greece and the other problem countries stay on the dole so long. Right now Europe has the choice for the euro to be the old German mark or the old Italian lira. This author is arguing for the lira.
Same problem they’ve had since the creation of the Euro. Germans need to work until they’re 70 so that Greeks can retire at 50.
The Euro shouldn’t exist. Greece shouldn’t have been in the Euro. Once in the Euro, it should never have been allowed to borrow at near German rates for 7 years running. Once Greece borrowed too much, it should never have been given more.
You see, the whole EU system is a failed social-engineering project dreamed-up by EU socialist elites. One bad decision has engendered an endless chain of errors, each trying to cover for the last. Now its up to the ECB, that other massive statist social-engineering tool, to begin printing money and stealing from savers and producers to bail out Brussels endless folly.
Sorry, but associating the word “Nobel” with anything honorable (except for physics and the other real sciences) pretty much destroys an argument.
Appropriate examples were provided above my comments.
And remember, if you want to totally annihilate an opponent, just yell “Krugman, Krugman, Krugman”.
I prefer his brother, Hugo....
The new Greek Government has their first meeting......
“Well, we can try to figure out how to make and sell stuff that the rest of the world wants......orrrrrrrr......we can get drunk and start paying people with rocks. Which is it?”
“Opa! Opa! Opa!”