3 ms·
When you are in a crisis situation, you do what you need to do to fix the problem, then you go about making sure it doesn't happen again. There is a solution th
by maaku 15y ago
When you are in a crisis situation, you do what you need to do to fix the problem, then you go about making sure it doesn't happen again. There is a solution that will prevent the eurozone from collapsing and triggering a world-wide recession (depression?) that will make 2008 look like peanuts: print money. The crisis could be averted tomorrow, if Germany would just go along with ECB quantitative easing. Then we can focus on austerity and balanced budgets without brinkmanship. That's what this article is about.
- marvin 15y agoThat's the problem, though. I am no economist, but I have the impression that these repeated "rescue scenarios" just end up causing more and more irresponsible behavior, all the way from when it all started with Long Term Capital Management. Can you point out a single time where intervention to prevent a disaster after irresponsible money management has eventually resulted in more responsible economic behavior? In the end, something has to give.
- dnc 15y agoThat's exactly what Economist, Bloomberg and other mainstream media want you to believe right now. In reality more money printing only will get you in a greater trouble. The way out of that vicious circle is to spend only what you have to and bootstrap yourself with a hard work.