dec, 2011

looks like i'm waiting a few days. i expected the decision to be ripped to shreds, even by a lot of conservatives.

to be clear...

the agreement is that the various governments will force balanced budgets on themselves without the use of integrated monetary policy. this completely misunderstands the problem. the problem is monetary, not fiscal. this is equivalent to implementing a de facto gold standard in the euro. the result in the satellite countries will be very difficult to manage, as they all have individual economies with individual stimulus requirements.

this will not rein in debt, it will spiral debt out of control as austerity exponentially shrinks the economy into a deflationary spiral.

don't just divest. emigrate. this is going to get ugly.

http://econ.st/vtQ6Ma

http://money.cnn.com/2015/09/30/news/economy/economy-europe-deflation/