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This entry was posted on Tuesday, February 28th, 2012 at 1:43 PM and filed under Economics, Europe. Follow comments here with the RSS 2.0 feed. Skip to the end and leave a response. Trackbacks are closed.

2 Responses to “What Ails Europe? – NYTimes.com – Paul Krugman”

1. Pat said:

   I think there is more going on with the European credit crisis/austerity programs than Paul K. goes into. I think there is a coordinated plan to fleece Europe. It is “shock doctrine”. I think this crisis was forced. The austerity programs are designed to worsen the crisis–as Paul points out they do, which was obviously going to be the case. This is partly an attack on socialism, and partly the creation of an opportunity to bleed off vast amounts of wealth from the working class. Just as they are doing in the US. The very rich will be vastly richer and more powerful.

   Since the recovery after WWII, the middle classes in the developed world have felt they were entitled to a portion of the wealth created in the new industries.

   Government institutions will be sold off to raise cash to pay off debts. The very wealthy are isolating themselves from the tax collectors. Instead of forcing the losses onto the bond holders, the working class taxpayers will be forced to pay.

   Quality of life for working people is set to take a huge dive. Populations are pitted against one another in a race to the bottom.

   Posted on 28-Feb-12 at 5:24 pm | Permalink
2. Michael Butler said:

   Pat
   Great points, thanks for making them
   Michael

   Posted on 29-Feb-12 at 10:11 pm | Permalink