The reason Greece is in such dire straits is that they signed into the WTO and therefore had to open their banks to the American (and other) banksters' credit derivatives' deals involving those Goldman Sachs and JPMorgan Chase "public-private partnership" deals! While no fan of the mediocre Krugman (in comparison to true economics geniuses like Prof. Michael Hudson and Michael Perelman), and he doesn't truly explain the causative factors for the meltdown, he is headed in the right direction! (And the stimulus plan from the Obama Administration was lacking, water down on the "buy American" side, thanks to endless waivers signed by then Commerce Secretary Gary Locke.) Important to note that "lax regulation" is not the same as financial fraud by design: when $2 trillion of unregulated insurance, i.e., credit default swaps, are sold against Bear Stearns outstanding external debt of $190 billion, with the potential payout of $200 trillion, which doesn't exist on the planet Earth, so how they heck can they possibly sell such "insurance policies"? And that was but one such situation of many, which is why there are so many multi-billionaires who created nothing, produced nothing and jacked the rest of us to kingdom come!!!!!
This book is nonsense!
Achieve a better economy by having the government hire people to dig a hole and paying others to fill it up.
Then inflate the money supply so you don't have to pay off the debt.
He never explains why then Greece and Japan are in such trouble.
This book made me finally understand the causes of the Euro crisis and the reason the American economy has not rebounded from its financial meltdown. You'd think it would be hard to take this in from a CD book, but it was like having a really smart friend explain it to you. Excellent book, excellent reader.
There are no ages for this title yet.
There are no summaries for this title yet.
There are no notices for this title yet.
There are no quotes for this title yet.