[quote=SK in CV][quote=livinincali]
The point is that when you cut spending, stop bailouts and let the debt liquidate you get to a stable economy that can grow again. [/quote]
Good luck with that.[/quote]
SK: Except there is a valid point in there, especially regarding certain countries within the Eurozone.
Greece, Portugal and Spain are different from Germany, France and, to a certain extent, Italy.
Continuing to pile debt onto Greece is nonsensical. This is a not a vibrant, growth-oriented economy with any hope of repaying said debt. Greece is the terminal endpoint of a failed model: The Euro social contract implodes when faced with this sort of calculus and we’re well beyond Keynesian “pump priming” now.
At the rate the Eurozone is going, we’ll have a dominant Germany surrounded by what will amount to servile, vassal states. And we all know how well THAT has worked out in the past.
As I said, this is terra incognita. The one comparison between the US and the Eurozone that does hold, however, is this: Our respective political classes have utterly failed us.
