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  1. A fascist dictator or two in Southern Europe will not be the end of the current iteration of globalization. Globalization has survived right-wing nationalist regimes in peripheral and semi-peripheral economies before. Thrived on them, even.

  2. In 2011 it would. Maybe even in 2012. Maybe it will work for Spain. But Greece is so far down the hole that only deficit spending as much as required for as long as required going forward is going to have a chance of solving the problem.

  3. Possession is 9/10ths of the law. In a disorderly default, the defaulter should prepare for every contingency up to and including a naval blockade.

- Jake

Friends come and go. Enemies accumulate.
by JakeS (JangoSierra 'at' gmail 'dot' com) on Mon Feb 11th, 2013 at 03:28:01 PM EST
[ Parent ]
To clarify:

Regarding point 1, I was saying that a fascist movement currently does not have the necessary (?) support of the elite.

Gloabalization would survive fascism in Southern Europe. But that was not my point.

The right loves Brussels/Berlin/Troika/IMF. At least in Portugal it allows them (or the most rabid part of them) to have a free hand at doing what they always wanted. Thus my point: a fascist movement will not have the support of the elite. It would be a mostly popular thingy.

Unless, of course, the current alignment of interests change and the interests of the elite of each country becomes out of phase...

by cagatacos on Mon Feb 11th, 2013 at 05:31:54 PM EST
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