To start your day off with some dark humor, here is Loudon Wainwright III singing “The Krugman Blues.”
More doom and gloom – this time about Europe, from Martin Wolf:
The take-away line:
“Before now, I had never really understood how the 1930s could happen. Now I do. All one needs are fragile economies, a rigid monetary regime, intense debate over what must be done, widespread belief that suffering is good, myopic politicians, an inability to co-operate and failure to stay ahead of events. Perhaps the panic will vanish. But investors who are buying bonds at current rates are indicating a deep aversion to the downside risks. Policy makers must eliminate this panic, not stoke it.”
And, not just in Europe – YES, it CAN happen here.
Nothing like a post hinting at a possible coming Fascist future to wake one up in the morning, eh?
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