Monday, May 30, 2011

Why are we an optimum currency zone?

What's called a "debt crisis" is increasingly a political and social crisis. Already, unemployment is 14.1 percent in Greece, 14.7 percent in Ireland, 11.1 percent in Portugal and 20.7 percent in Spain. Europe at the Abyss
California has that level of unemployment. Europe has demonstrations and riots? We have riots that put Europe to shame. European wars?  We have civil wars.

America is no more the optimum currency zone than is Europe. Not political union but political delusion in DC.

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