I don't usually call attention to the posts of MMT economists since I assume that readers of this blog are familiar with those sources. However, everyone once in awhile something of special importance comes along that requires alerting to so that no one misses it. This is one of those must-reads.
EURO CRISIS IS SPREADING FROM PERIPHERY TO CENTER: The System Designed to Fail WILL Fail
by L. Randall Wray
2 comments:
sKeep it coming
don't count on me to find all this stuff around at first source
If the Euro would just pop instead of the Eurozone going pop !
Has anyone noticed that the European situation should have been reflected more sharply in the valuation of the Euro dollar instead of all the hoopla in the bonds markets ?
The Euro is rigged and is designed for rich Europeans to vacation and gallivant around the globe.
Elastic Currency Theory - If the Euro was able to slide months if not years ago ( Remember their $600 billion QE that bolstered Germany in early 2009 ? ) then it would have taken up a lot of the slack.
They should allow their euro to slide for the sake of jobs, but they are holding fast to a rich euro dollar which is overvalued.
Isn't that the easiest solution ? Why have they not let the Euro slide ? Are other forces keeping it up given all the "rot" inside the Eurozone ?
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