Martin Armstrong — Panama Papers – Who Instigated the Leak? USA or Russia?

A new theory emerges. Sounds reasonable.

Armstrong Economics

Panama Papers – Who Instigated the Leak? USA or Russia?
Martin Armstrong

Sandwichman — Slush-Fund Schäuble

Corruption.

Econospeak
Slush-Fund Schäuble
Sandwichman

Phillip Inman — What happens if Greece can’t pay its debts?

The nub of it. Keynes and Post-Keynesianism versus Chicago and Neoliberalism.

The former economics professor, now finance minister, went into Friday’s meeting of eurozone colleagues in Riga repeating his demand that his counterparts admit that their policies towards Greece, Ireland, Portugal and the rest have failed. It is not a message that wins many friends. In Riga he faced a volley of criticism for his repeated expounding of Keynesian economics, with its emphasis on government spending. His opposite numbers find it childish and patronising. They understand Keynesianism, but don’t think it works. Varoufakis admits he is adverse to the compromises familiar to diplomats and politicians, and many think that rather than be responsible for a fudge he would prefer to go down in flames.

The problem is a combination of ideology and innumeracy on the part of the neoliberals. That's a fatal combination. Fail.

The Guardian
What happens if Greece can’t pay its debts?

Phillip Inman

h/t Clonal

See also

It looks like this is more about him breaking the rules of a fraternity than about seriously coming to an agreement that most observers think is not that far away. Time for these clowns to grow up.

Econospeak

Good To Know Eurozone Negotiations Focusing On The Really Important Stuff
Barkley Rosser

Salon — Paul Krugman takes the gloves off: Radical ideologues tanked economies, ignored reality

Paul Krugman takes the gloves off in Friday’s New York Times, bashing economists who insist on believing in phony austerity models and offering a full-throated defense of old-fashioned Keynesian economics, even if it’s not a fashionable or trendy “new idea.”

“It’s hard to argue against new ideas in general,” Krugman writes. “In recent years, however, innovative economic ideas, far from helping to provide a solution, have been part of the problem. We would have been far better off if we had stuck to that old-time macroeconomics, which is looking better than ever.” 

Krugman writes that right-wing European politicians especially buried their heads in the sand, seeking justification from economics for the horrible political and ideological agendas they wished to impose. The exciting new research all proved grounded in phony assumptions. The old-school Keynesians were right. The ideologues refused to listen.

He singles out one in particular, Wolfgang Schäuble, the German finance minister….

Salon
Paul Krugman takes the gloves off: Radical ideologues tanked economies, ignored reality

Sputnik — EU Can Afford Anti-Russia Sanctions If Economy is Strong - German Minister

Maintaining the EU economic sanctions against Russia will depend on the overall economic strength of the Union, German Finance Minister Wolfgang Schaeuble said at a Brookings Institution conference in Washington, DC on Thursday.

Schaeuble of all people — the guy that is driving the EZ into the ground. Just keep pouring that austerity on.

ROFLMAO. The level of stupid is astounding.

Sputnik
EU Can Afford Anti-Russia Sanctions If Economy is Strong - German Minister

Reuters — Germany fears revolution if Europe scraps welfare model

German Finance Minister Wolfgang Schaeuble warned on Tuesday that failure to win the battle against youth unemployment could tear Europe apart, and dropping the continent's welfare model in favor of tougher U.S. standards would spark a revolution.

Germany, along with France, Spain and Italy, backed urgent action to rescue a generation of young Europeans who fear they will not find jobs, with youth unemployment in the EU standing at nearly one in four, more than twice the adult rate.

"We need to be more successful in our fight against youth unemployment, otherwise we will lose the battle for Europe's unity," Germany's Schaeuble said.

While Germany insists on the importance of budget consolidation, Schaeuble spoke of the need to preserve Europe's welfare model.

If U.S. welfare standards were introduced in Europe, "we would have revolution, not tomorrow, but on the very same day," Schaeuble told a conference in Paris.

Reuters
Germany fears revolution if Europe scraps welfare model

(h/t Zero Hedge)

Even eurocrat neoliberals are not dumb enough to think that Europeans will accept imposition the market state, pace Hayek. That's only for the US (Reagan, Clinton) and UK (Thatcher, Blair).