Tag: Eurozone
George Soros on the Eurozone, Imperfect Knowledge Economics and Reflexivity
Satan George Soros doesn’t fit Tea Party’s expectations. He’s a super-rich guy who doesn’t think the rest of the world owes him obeisance a la the Koch Brothers. He doesn’t support the radical “free market” agenda. He’s not a libertarian-of-convenience. As a financial player who supports progressive causes, he’s kind of…
Meanwhile, Back in Greece, Things Get Interesting
The leftist political party Syriza and their leader Alexis Tsipras are embarking on a re-invention of the Greek state. Their new platform calls for the nationalization “of several former public institutions, including telecommunications and energy companies, as well as airports and ports.” As the Chinese proverb / curse says, May you live in…
Punk Economics: Lesson 4
And so it goes… See the previous lessons here: Lesson 1 Lesson 2 Lesson 3
The Turd in the Eurozone Pool
This time, it’s not a Baby Ruth! When Greece poops, it’s everyone out of the Europool. This demonstration that the euro is, in fact, reversible would lead, in turn, to runs on Spanish and Italian banks. Once again the European Central Bank would have to choose whether to provide open-ended…
Austerity Dealt A Crushing Blow in Germany
Angela Merkel’s conservative party, whose government has led the austerity charge in the Eurozone, has suffered a stunning electoral defeat in Germany’s largest state on Sunday. The left is rising across Europe. The election in North Rhine-Westphalia (NRW), a western German state with a bigger population than the Netherlands and…
How Germany Ate the Eurozone
A chart from Paul Krugman’s latest book, End This Depression Now! which goes a long way towards explaining WTF happened to the Eurozone. It wasn’t profligacy by the Eurozone periphery, it was the massive trade imbalances created by cheap credit in the periphery and the export engine of the Germans. Germany’s…
Highway to Hell – Eurozone Edition
Yes, Krugsandra has issued another proclamation from his Fortress of Macroeconomics high on the slopes of Mount OMFGWTF. Germany believes that its successful adjustment was the result of its own virtue, but in reality it was successful in large part because of an inflationary boom in the rest of Europe. And…
In Literature, Would This Qualify as “Foreshadowing?”
Foreshadowing is a technique used by writers to hint at something coming down the plot highway. One type of foreshadowing is called telegraphing… Spotted by Sean Keane It was also interesting to note an easily overlooked article in Greek online newspaper Kathimerini saying that the European Commission is pressuring the European…
The Golden Euro
Not to be confused with The Golden Snitch… Paul Krugman today aligns himself with the MMTers (Modern Monetary Theorists) in explaining why the Eurozone is failing so spectacularly and seems so incapable of coming up with a remedy. He examines the two current narratives as to why the Eurozone is…
Recent Comments