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View Diary: German Spiegel: "Notes on the Decline of a Great Nation" (317 comments)

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  •  The destruction of the Euro and Greece will (1+ / 0-)
    Recommended by:
    Deejay Lyn

    fall entirely at the hands of Germany's 'austerity fetish.'

    There were many lessons learned during the Great Depression and it appears that Germany didn't learn the economic ones.  They've basically built their own "gold standard" and are driving up the value of their own holdings by causing deflation on everyone else.

    How's that double-dip recession going?

    (Speaking of declines.)

    Scheiß passiert.

    Happy little moron, Lucky little man.
    I wish I was a moron, MY GOD, Perhaps I am!
    —Spike Milligan

    by polecat on Mon Nov 26, 2012 at 01:48:58 PM PST

    [ Parent ]

    •  The Destruction of the Euro wil fall.. (2+ / 0-)
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      limpidglass, polecat

      ...entirely on its architects who made this bold bet.

      Twenty years ago, they realized that a monetary union was not viable without permanent fiscal transfers, without a United States of Europe.  

      They bet that by the time a crisis made one necessary, that Greeks and Germans would consider themselves European, moreso than a citizens of their "state".  At that point, these architects figured that Greeks, Spaniards and Germans would vote to form a US of Europe, ceding all sovereignty to a central government in Berlin or Brussels.

      Instead of cheering for the Spanish team in the upcoming World Cup, these "architects" believed that Madrilenos would cheer for the "equipazo" from the US of Europe as it played the team from England in the World Cup final.

      Not going to happen.

      Learn about Centrist Economics, learn about Robert Rubin's Hamilton Project.

      by PatriciaVa on Mon Nov 26, 2012 at 03:08:43 PM PST

      [ Parent ]

    •  Wenn schon, denn schon, es heißt ... (1+ / 0-)
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