FT Alphaville � The French proposal
FT Alphaville � The French proposal
Brady Bonds for Greece looks like it's gaining momentum. I'm still stunned by the fact that "austerity" is the new black. It was conventional wisdom that getting out of economic crisis was "pump-priming." We had made the mistakes of austerity during the Great Depression. Yet here we are again. The disgrace of the fresh water economists and the smart guys in Europe is that they make the same mistakes again.
Brady Bonds for Greece looks like it's gaining momentum. I'm still stunned by the fact that "austerity" is the new black. It was conventional wisdom that getting out of economic crisis was "pump-priming." We had made the mistakes of austerity during the Great Depression. Yet here we are again. The disgrace of the fresh water economists and the smart guys in Europe is that they make the same mistakes again.
posted by Spud at 8:52 AM
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