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View Diary: Dean Baker: How much unemployment was caused by Reinhart & Rogoff (74 comments)

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  •  How much starvation and death? (4+ / 0-)

    Talk to a few in Greece or Cyprus or Spain or Italy....

    The era of procrastination, half-measures, soothing & baffling expedients, & delays, is coming to a close. We are entering a period of consequences - Churchill

    by PrometheusUnbound on Fri Apr 26, 2013 at 02:20:27 PM PDT

    •  Those countries were in deep doo-doo (2+ / 0-)
      Recommended by:
      Roger Fox, acerimusdux

      long before this - basically from the moment they signed on with the Euro.

      Not that they (necessarily) knew it at the time .  . .

      •  That is simply not true... (0+ / 0-)

        it is well documented that especially in the case of Greece, Goldman Sachs helped mask the extent of the greek deficit with derivatives. The real issue here is the that the austerians literally have starved governments and therefore people in the name of a neo-liberal doctrine.

        Secondly it is starting to become increasingly clear that the Euro is essentially a gold standard. If Greece were able to print its own currency they would devalue and default there way out of the debts they owe. Instead the EU is squeezing blood from a turnip and will continue until something literally breaks

        The era of procrastination, half-measures, soothing & baffling expedients, & delays, is coming to a close. We are entering a period of consequences - Churchill

        by PrometheusUnbound on Fri Apr 26, 2013 at 05:19:25 PM PDT

        [ Parent ]

        •  Right, and why can't they? (1+ / 0-)
          Recommended by:
          Roger Fox
          If Greece were able to print its own currency they would devalue and default there way out of the debts they owe
          Because they're stuck with the Euro, like I said.

          Did you make it that far in my post, it really wasn't * that * long . . ..

        •  I disagree here (0+ / 0-)

          I agree with Roger that entering the euro was the mistake. The Goldman story is pure cover for the banks, a distraction to put the onus on someone else.

          I discussed this last week: http://www.dailykos.com/...

          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 Apr 29, 2013 at 06:42:35 AM PDT

          [ Parent ]

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