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On the current course -- agreed! Likely the next major financial disruption, if it is not due to the collapse of the Eurozone, will trigger the collapse of the Eurozone. We have had five years to fix the problems that cause the 2008 collapse but have only temporized. The problem is that the only real solution is to write down the bad debt. But that debt represents a lot of the wealth of the 161 individual to whom Bill Mitchell referred here.

My worst nightmare is that such a collapse will come and go and that 161 will only continue to consolidate their wealth and power.

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Tue Sep 24th, 2013 at 11:47:36 PM EST
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