The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
There was a bubble, ie a perception of more wealth than there really was, and there needs to be a downwards adjustment of sorts. The questions are how big it is, and who bears the pain.
My point is to say that the bigger problem is the allocation of pain rather than the size of the crash. Asset owners, in particular financial asset owners, are protected at the expense of workers. Austerity ensures that, but it can certainly also happen under devaluation/inflation, depending on which policies go along.
I don't think there's anything today that cannot be solved by high marginal tax rates and severe re-regulation (and breakup) of banks.
by gmoke - Sep 11 2 comments
by Frank Schnittger - Sep 17 98 comments
by epochepoque - Sep 4 8 comments
by Helen - Sep 6 66 comments
by Frank Schnittger - Sep 2 19 comments
by gmoke - Sep 27
by gmoke - Sep 25
by Frank Schnittger - Sep 1798 comments
by gmoke - Sep 112 comments
by Helen - Sep 666 comments
by epochepoque - Sep 48 comments
by Frank Schnittger - Sep 219 comments
by Frank Schnittger - Aug 3050 comments