Here’s another edition of “How to Explain Politics/Economics to a 4 Year Old”. I haven’t done this, but I may as well now. Economics really is the most important secular subject for people to understand because when some big politico gets up in front of a crowd and starts spouting finance terms, 999,999 times out … Continue reading Varoufakis to Eurozone: Everyone Should Help Pay Greek Debt Through Eurobonds!
Never go full retard. (I realize that this joke is insensitive, but I couldn’t resist. Forgive me.) When you go politician, you go a little bit in, dabble your foot, play with words, deflect a question or two. But you never go full politician. ESPECIALLY when you state publicly that you will resign the minute you … Continue reading Varoufakis Goes Full Retard
Oh well. I was wrong. I thought I was on to something with Varoufakis but apparently a grasp of basic economics (which Yanis Varoufakis does not quite have) is a necessary condition for having a spine. I thought that maybe it didn’t have to be that way, but he caved to a bailout extension of … Continue reading Greece Caves, Varoufakis Fails, He Should Resign Immediately
The Greek talks with the Eurozone just broke down again. There currently is no way forward. Greek bank runs may start as early as tomorrow. If they do, the Eurozone will disintegrate fast. Most people did not see this coming and thought Greece would cave. But I did. I felt Greece would not cave, at … Continue reading Varoufakis Holding his Own, Germans want him replaced!
I love this guy, but I don’t understand him. He’s got some things so right, and others so wrong. Yanis Varoufakis was just interviewed on Bloomberg about what should be done in Greece. He’s a pleasure to listen to because unlike other smug econometrician academic weasels, you can tell Varoufakis is sincere and has some … Continue reading Varoufakis and Tzipras are on a Collision Course
There is one rule of thumb I always use in trying to tell the difference between an econometrician and an economist. Or, in other words, a Keynesian versus an Austrian economist. That is, Keynesian arguments are generally devoid of any soul or feeling, and treat economics like a laboratory science where if you mix the … Continue reading Does public “investment” crowd out the private sector? OF COURSE IT DOES!
Aside from the fact that the mantra is repeated by virtually every media outlet, mainstream and otherwise, why should any Eurozone country defaulting have anything to do with that country leaving the Euro? Except for Yanis Varoufakis, who is virtually the only Keynesian econometrician who seems to have a workable solution for Europe, everyone else … Continue reading World War III will be started with a printing press, not a bomb
The New York Times is reporting today (June 6) that Greece is running out of money to pay its immediate obligations. This is mostly because they’re not getting enough bailout money because the bailer outers don’t know if Greece’s next government will agree to the terms of the bailout, and Greece doesn’t have a government … Continue reading Greece is out of bailout money; Spain is locked out of bond markets