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Still, the loss of faith in the euro would be massive.

Yeah, yeah, and when the hysterical children on the ForEx markets have stopped Chicken Littleing we'll still be making the best trains, windmills and ball bearings on the planet.

So we care about the hysterical children because?

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Sat Feb 6th, 2010 at 05:45:05 AM EST
[ Parent ]
because economists and the press tell us to.

I mean, that line is from Spiegel.com, whose business it is to propagate Angloamerican talking points while making them look like they come from Germany.

En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma

by Migeru (migeru at eurotrib dot com) on Sat Feb 6th, 2010 at 05:50:44 AM EST
[ Parent ]
I'm not sure in this instance. Before the takeover of the current generation at the top eight years ago, the SPIEGEL business pages had a tradition to interview economists (and CEOs and policymakers) challenging the consensus one way or another, to give them a wider hearing. And asking questions with the 'consensus' framing was used to set up for forceful rebuttals of conventional wisdom. (Note that this past SPIEGEL dissected the DotCom bubble and merger mania right at its peak [the issue appearing on the Monday following the all-time NASDAQ record] with a cover story.) So this article could also be an effort by older staff to smuggle in content contrary to the chief editors' line, not just stupid neolib propagandists meeting an interview partner eating them for lunch.

*Lunatic*, n.
One whose delusions are out of fashion.
by DoDo on Sat Feb 6th, 2010 at 07:47:45 AM EST
[ Parent ]
Depends on who 'we' are.

I care about deconstructions because the economists nonsense will be used to push lower wages, pensions and benefits in the countries affected.

A vote for PES is a vote for EPP! A vote for EPP is a vote for PES! Support the coalition, vote EPP-PES in 2009!

by A swedish kind of death on Sun Feb 7th, 2010 at 04:09:32 AM EST
[ Parent ]

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