One for Swampy and Matthias,

[Sir John]

www.upi.com/Top_News/Analysis/Outside-View/2013/05/07/Outside-View-Europes-depression/UPI-29111367899980/


Much like I have been on about for quite some time.

They WILL print, but even that will not save the EU and the Euro,

DOOMED!

SJ

[Swampy]

The author, Peter Morici, is a noted economist. But I have been saying tthat about Europe, though not about North America.

From your link, he says,

Europe is slipping into a depression -- unemployment and stagnation not seen since the 1930s. Nothing can save it other than abandoning extreme austerity, labor market reforms too rapid for national politics to support and a single currency that delivers economic decay and depravation to large portions of the continent.

I've been saying that too.

[boxcar]

IMHO the easiest solution would be to let the various countries revert to their old currencies and then they can straighten out their local politics without a bail out from northern Europe. A policy of sink or swim.

Then they can chalk up another Socialist experiment.

A Socialist is a Communist that wears shoes. A Liberal is a Socialist that wears a tie.

J. Roth

[Sir John]

The EU will NEVER admit the idea was a failure.


SJ

[Swampy]

May 10, 2013 0:34:08 GMT -5 Sir John said:

The EU will NEVER admit the idea was a failure.

And the GW'ers would never admit GW had stalled for 15 years - except now they do. I think the EU will come around, because various influential voices have been saying that recently.

[boxcar]

They are not a failure as long as they can find somebody else to pay for it. (See Greece)

[Sir John]

This is NOT an European Union problem, far from it.

The problem is almost world wide and the hard bit is finding a nation of any global consequence that is NOT spending far more then they are making, and in debt to an unmanageable degree. And with their banks sitting on Zillions of bad debts in the form of sovereign bonds.

None of the G20, AFAIK.



SJ