Keynes Predicts the Failure of the Eurozone

President of the Economic Psychic Friends Network and the father of macroeconomics, John Maynard Keynes, explains to the Masters of the Eurozone why they are doomed.

It was at Bretton Woods that Keynes identified one of the key problems at the heart of international economics – that imbalances in trade are next to impossible to resolve in a fixed exchange rate system without surplus countries accepting that they have as much of an obligation to do something about them as the offending deficit countries. As the eurozone is demonstrating all over again, the lessons have plainly not been learned.

The massive trade imbalances in Europe caused by the Germans will end up undoing all the good the Euro could have done.  Keynes was smarter than the average bear (or Republican economist).


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2 thoughts on “Keynes Predicts the Failure of the Eurozone

  1. Jim Rogers has also been saying the Euro is doomed for years. He thought it would make an initial run and the fall apart. He’s pretty much been right. But I guess that is why him and Soros did so well together.

    Have you read the book “Boomerang” by Michael Lewis ? He has an interesting take on the specific countries.

    1. There are a number of economists who predicted that the Euro would ultimately fail, but none of them have done it from beyond the grave…


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