tag:blogger.com,1999:blog-7321229718141307911.post5320727967003104295..comments2023-10-24T01:44:59.579-07:00Comments on Newshoggers Archive: Failure is an attractive optionRon Beasleyhttp://www.blogger.com/profile/04442030471061531104noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7321229718141307911.post-87479977119777082982011-07-06T04:51:36.000-07:002011-07-06T04:51:36.000-07:00Agree.I linked this by Bernard Avishai a couple da...Agree.<br>I linked <a href="http://bernardavishai.blogspot.com/2011/06/greece-economists-and-value-of-euro.html" rel="nofollow">this by Bernard Avishai</a> a couple days ago but it's worth repeating.<br><i>Hmm. You devalue, you become more competitive. The ideal of European unity cannot trump this macroeconomic axiom, one that economists as different as Paul Krugman and Martin Feldstein take for granted and increasingly resentful Greeks have a right to embrace. Once--so the argument goes--countries in Greece's position would not have been forced to deflate, radically cut budgets (hence, services) or engender widespread anger from the poor and unemployed. They could have cheapened their currency and counted on cheaper exports to jump-start growth. <b>The euro, however, is a kind of hammerlock rich European countries like Germany now have on them, a kind of IMF scold sitting on their shoulder, and advantaging--wait for it!--German exports.</b></i><br>Other countries have Greece by the balls in more ways than one. Over the last few days Greece has been proxy for the US, Israel and other interests cutting the legs from under the Free Gaza Flotilla 2 before the boats could leave the harbors.<br>John Ballardhttp://profile.typepad.com/john_ballardnoreply@blogger.comtag:blogger.com,1999:blog-7321229718141307911.post-19715955253525492292011-07-06T03:01:45.000-07:002011-07-06T03:01:45.000-07:00That's what bugs the hell out of me - everyone...That's what bugs the hell out of me - everyone talks about bailing out Greece, they are not. They are screwing Greece and bailing out the banks.<br>Ron Beasleyhttp://profile.typepad.com/ronbeasnoreply@blogger.com