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by Jerome a Paris (etg@eurotrib.com) on Mon May 30th, 2011 at 05:09:42 PM EST
because it is?

This is a start-up euro crisis. This is a monetary crisis if it ever was one. You can also call it an ECB crisis, but what is not, it is a debt crisis. In TINA world, yes, this is a debt crisis, and the euro is the new gold standard. But in the normal Say-Keynnes-Fisher-Galbraith-Minsky-Friedman world, this is a monetary crisis which has been made an euro-crisis by the sheer stupidity of the ECB and the Austrians.

A pleasure

I therefore claim to show, not how men think in myths, but how myths operate in men's minds without their being aware of the fact. Levi-Strauss, Claude

by kcurie on Tue May 31st, 2011 at 06:43:48 AM EST
[ Parent ]
   "This is a start-up euro crisis. This is a monetary crisis if it ever was one. You can also call it an ECB crisis..."

  with, lurking not far beneath it--where it has operated patiently since the 1500s--the protestant ethic in the spirit of capitalism.

  Though he didn't say it, Clinton ought to have said "It's the protestant ethic, stupid!" except that Clinton is very protestant-ethic-steeped just like the whole class of fresh-water thinkers.

"In such an environment it is not surprising that the ills of technology should seem curable only through the application of more technology..." John W Aldridge

by proximity1 on Tue May 31st, 2011 at 09:23:53 AM EST
[ Parent ]

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