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View Diary: If the Euro fails. (282 comments)

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  •  Merkel is looking more like Nero every day. (1+ / 0-)
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    Fiddling while the Euro burns....

    Germany is curling its collective lip in contempt at those inferior southern Europeans, disgusted by their profligacy, their wanton 'grasshopper' economies compared to the stern and diligent Teutonic 'ant' economy.

    Thing is, Greece/Portugal/Italy/Spain are going over the cliff....while still chained to Germany by the Euro.

    I believe there's nothing Germany or France can do at this point to salvage this clusterfuck. That door was shut the moment the "PIGS" nations adopted suicidal austerity policies that guaranteed accelerating economic contraction.

    It's mind-boggling to me that so many notionally smart people learned absolutely nothing from the lessons of the Great Depression.

    •  It's already too late (0+ / 0-)

      They have driven up the costs of the crisis to the point where nothing short of a gigantic eurobond will save them.

      There are two kinds of people in this world. The kind who divide the world into two kinds of people, and the kind who don't.

      by upstate NY on Mon Nov 28, 2011 at 11:26:23 AM PST

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