This from Paul Krugman's blog (follow link to original) -- a voice of SANITY in this amazing worldwide run of CRAZY!
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1937! 1937! 1937!
The Telegraph has a leaked draft of the eurozone rescue plan for Greece. The financial engineering is Rube Goldbergish and unconvincing. But here’s what leaped out at me:
9. All euro area Member States will adhere strictly to the agreed fiscal targets, improve competitiveness and address macro-economic imbalances. Deficits in all countries except those under a programme will be brought below 3% by 2013 at the latest.
OK, so we’re going to demand harsh austerity in the debt-crisis countries; and meanwhile, we’re also going to have austerity in the non-debt-crisis countries.
Plus, the ECB is raising rates.
So demand will be depressed in both crisis and non-crisis economies; this will lead to a vigorous recovery through … what?
The Serious People are determined to destroy all the advanced economies in the name of prudence.
April 19th COVID Update: Weekly Deaths Decreased
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[image: Mortgage Rates]Note: Mortgage rates are from MortgageNewsDaily.com
and are for top tier scenarios.
*It is likely that we will see pandemic lows for...
8 hours ago
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