Krugman On Europe’s Disaster-In-Progress… And Our Own Approaching Second Disaster

Paul Krugman provides a good thumbnail history of the European recession (or financial crisis,or worse), what the ECB isn’t doing about it, and how a similar austerity in the US could lead us to another crisis. One was quite enough, thank you… but the austerians (not to be confused with the Austrians) just will not let it alone until everyone experiences the misery. OK, Americans… it’s time to prepare for hunger and homelessness…

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  • L’Enfant de la Haute Mer  On Saturday December 3, 2011 at 9:59 am

    “……….The troika has played the same part in reducing Greece to a protectorate as the Warsaw Pact did in Czechoslovakia, with Papandreou in the role of Dubcek, but a Dubcek who would never have dared to resist. The doctrine of limited sovereignty has been applied, though admittedly it is preferable and less immediately lethal to have its parameters set by rating agencies rather than by Russian tanks rolling over the borders.

    Having crushed Greece and Italy, the EU and the IMF have now set their sights on Hungary and Spain.”

    • Steve  On Saturday December 3, 2011 at 10:08 am

      Enfant, what the ECB is doing to Greece is in my opinion unconscionable. The US government is doing something similar to itself… no external force at work, just brute stupidity by both of our major political parties in Congress and the president, under the complete influence of criminal bankers and their henchmen in our government. With bankers like those, soon the whole Western world will share Greece’s fate. Sometimes I just want to scream…

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