Archive for November 2011  European Thought for the Day  World
Banks are joining forces to try to keep borrowing costs low in
Europe, but that is only one piece of the puzzle.  I have been
reading the Grand Pursuit:  The Story of Economic Genius by
Sylvia Nasar and she has a great section on the end of WWI where
the victors guaranteed us WWII by enforcing severe austerity on
Germany and her allies to pay off everyone’s war debts.  With
declining economies and little hope for recovery, chaos was
assured and then along comes Hitler.  See any parallels in the
extreme austerity the ECB and others are forcing on the debtor
nations (Read Germany)?  After WWII we had learned our lesson
and we implemented the Marshal Plan to rebuild Europe and its
economy and restructure their debt.  Apparently the Europeans
learned nothing from this history as they still think austerity
is the only answer.  It is if you want massive civil unrest.
Mind Numbing Frustration – Whose to Blame  I picked up the paper
this morning (first m