Arraya wrote: Obama’s appeal

[Allan from Fallbrook]

[quote=Arraya]
Obama’s appeal “isn’t anything that goes against what we are doing,” Merkel told reporters yesterday. “If we don’t get onto a path of sustainable economic growth but have rather a growth bubble, then if the next crisis comes we won’t be able to pay for it.”[/quote]

Arraya: Good article from Socialist Appeal (UK) on “Does Keynesianism Work?”: http://www.socialist.net/keynesianism.htm

Oblique references to Marx’s theorizing on dialectical materialism, but overall a very balanced article, with its focus on UK policies dating back to the 1930s and their effects, both good and bad.

It will also be interesting to watch the EU’s gyrations as not only Greece, but Spain, Ireland, Italy and Portugal start to “slip”. Satyajit Das had an article on Greece at Minyanville, likening the Greek crisis to the US subprime crisis: http://www.minyanville.com/businessmarkets/articles/greece-greek-sovereign-debt-goldman-sachs/4/12/2010/id/27726