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Amongst Jeremy Corbyn's economic lunatic asylum is a suggestion with possible political merit.
It is essential that Chancellor George Osborne et al work to cure the housing 'shortage' with a mass government attack on housing shortage. Without such a policy, the Conservative Party will become vulnerable.
I do not think Corbyn comprehends the difference between quantitative easing and printing money.
Money printing is merely a hidden form of taxation that takes money from the poor and those on fixed incomes.
A housing market shortage is an unearned bonanza for the middle classes. Correcting the problem is not something that the middle classes will cheer.
With some credible notes on game theory.
Linked, an article in The Spectator that is missing most of the realité, but is expressing much of the Euro spin.
If the ECB does not act fast and forcibly, it could generate a run on the euro, let alone on the banks. Spain, Italy, even France, and many others are vulnerable. If the deposits of Greek citizens are not backed, the euro will be entirely naked.
There is no way someone can be 'kicked out' of the euro. Greece, or any other country, could easily trade in euros.
It is the height of irresponsibility to such broadcast nonsense, that "Greece can be kicked out of the euro", in the midst of this mess.
Inflation is a gift that just keeps on giving, to real private wealth.
An excellent article, recommended reading.
Determining the creditors of any country's national debt is a mare's nest. A lot of the debt is owed to their own citizens, often through pension funds.
The various nations also have no intention of repaying their debts. They steadily erode it through inflation. It is really mostly delayed taxation, delayed to the next generation, or on the road to when current cirizens need it for their pension.
National debts are also mediated through the banks, which are these days mostly an arm of government.
Debt becomes a worse problem when it's not in a nation's own currency, the position in which Greece is in now. It's also the position of weaker and more backward countries, a delight for those Lefties saying how badly 'we' exploit the third world poor.
debt, work and leisure
A central fact of money is that it circulates, not much use to Germany if they cannot sell their cars and keep their Victorian-work-ethic embibed people 'employed' by building them. As I repeat regularly, there is less and less work to go around. The Greeks like to lie on the beach and serve rather disgusting drinks, but then so do the Spanish.
Given the choice, most people will choose 'leisure' over 'work'. Clearly, governments do not want citizens out causing a nuisance shuffling against 'austerity', especially when they start smashing the place up. Governments also do not seem to want them to go on 'adventure holidays' where they can rape and kill, made more interesting by dropping the occasional bomb on those Middle Eastern 'holiday' spots.
Society is a playground. Most of what humans agonise over just is not very serious or 'important'. If a person starts attending to reality, they might get bored, or even do something useful. The place works the way it does because that is the way that things work!
So much for the stream of lies emanating from Brussels.
Note that the author's the reference to Weimar is based on ignorance, see this section on reparations.
With the present structure, this mess will not stop at Greece.
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