Tuesday, November 15, 2011

Krugman on the market gods

From Paul Krugman, Austerity Then And Now 11/14/2011"

Today, ... austerity is being imposed because men in suits say that it’s necessary to satisfy the invisible gods of the financial market. It’s understandable that the public is beginning to have its doubts, and not just because those invisible gods somehow demand sacrifices only from workers, never from the wealthy. For the fact is that those men in suits have no idea what they’re doing — a fact that was apparent to some of us early on, but it now becoming common knowledge.


But we should be fair, here. Angela Merkel wears suits, too.

Speaking of whom, I here that one of Angie's plans for the euro is to rename it as the Grossdeutschlandmark.

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