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Finally, the physical economy of Europe (in particular the periphery) has the problem that thirty years of neoliberal brain rot (twenty in the case of Eastern Europe, but with much weaker countervailing pressures) have rendered large swathes of Europe into a wasteland, industrially speaking.

Bingo.

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Tue Aug 16th, 2011 at 02:59:29 PM EST
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But even if that were not the case, the €-Mark, as currently constituted, would not be viable.

Of course, absent neoliberal brain rot, nobody would have thought that a currency union could work without fiscal integration.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Tue Aug 16th, 2011 at 03:43:10 PM EST
[ Parent ]
Of course:

the €-Mark, as currently constituted, would not be viable.

It doesn't matter if the debts are measured in Euros, DMs, Pesos, or the soon to be offered New Mexico Tamale.  If the people who owe the money can't make money to pay it off, they don't have the money to pay it off, thus, they can't pay it off.  

Maybe I'm the dumbest m/f'er on the planet, but this seems Real Simple.  To me.  

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Wed Aug 17th, 2011 at 12:51:33 PM EST
[ Parent ]

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