Though Dave Leonhardt would have us make the Keynesian connection. Not really, it tells me that Europe has maxed out the credit card and has little future until they figure out what to do with 50 years of rampant socialism Look at their debt ratios, you think we are bad! Britain is in deep shit, having been lied to by the socialist camp for 30 years. If we follow the NYT prescription then most of California's wealth ends up on the East Coast and California defaults sooner.
If Germany were doing great, the NYT edistors would find some fool to call it a Keynesian success. Here are the NYT editors publishing a Krugman piece talking about the slightly higher stimulus in Germany, and calling it a success.
Europe's problem is simple, they screwed themselves by borrowing to the hilt to cover their entitlement systems.
No comments:
Post a Comment