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Except it's not much use for Germany to avoid getting mugged on the markets if all its trading partners are bankrupted.

The fact is that what we're experiencing right now is a top-down disaster. -Paul Krugman
by dvx (dvx.clt ät gmail dotcom) on Thu Aug 11th, 2011 at 07:26:00 AM EST
[ Parent ]
Cue in Bob the Angry Flower:



Economics is politics by other means

by Migeru (migeru at eurotrib dot com) on Thu Aug 11th, 2011 at 07:33:58 AM EST
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Ah. About time.
by afew (afew(a in a circle)eurotrib_dot_com) on Thu Aug 11th, 2011 at 08:02:40 AM EST
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Er... no, they did not forgot the servants.

Its us.

by cagatacos on Thu Aug 11th, 2011 at 08:27:07 AM EST
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This day could come but right now I'd argue it's the opposite. The people rioting aren't needed by the world economy, yet the world economy still generates enough "excess energy" for this group of people to live on. If the parasitic wealthy kill off the technicians, then yes, this will probably play out.

Theoretically we could have created a society in which all this excess energy was converted to a lifestyle wherein humans simply get to enjoy being humans - but I say theoretically because it would have been (and was) outcompeted by societies who prefer guns.

It's a huge disaster - such a big proportion of the modern world no longer has access to the myths of a good life as offered by their individual cultures, much less the environment that actually leads to happy, healthy humans.

you are the media you consume.

by MillMan (millguy at gmail) on Thu Aug 11th, 2011 at 03:54:20 PM EST
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Sadly, I think you're right.

Economics is politics by other means
by Migeru (migeru at eurotrib dot com) on Wed Aug 24th, 2011 at 06:25:25 PM EST
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For the German banks... well, the currency will still be sound.

- Jake

Austerity can only be implemented in the shadow of a concentration camp.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Fri Aug 12th, 2011 at 05:50:27 AM EST
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