Friday, 27 April 2012

Recommended Reading on the coming Great Depression

Since another Great Depression is nearly upon us, dear reader, it does at least make sense to understand where it comes from and what is its deeper nature. I found these articles particularly enlightening and gladly recommend them to those of you who have the courage and the stomach to learn.

In this article you will find the views of Professor Paul Krugman’s (Nobel Prize for Economy) on the Austerity approach which is presently fashionable among political leaders. His take on the consequences of heavy cuts in education, both in the USA and in Europe, may be seen in this short article.

A simple explanation why Spain came to be in such a mess may be found in this article form the BBC site. 

Then, Mats Persson explains in this article what the European Union should do instead of asking for more money from its suffering member states.

And finally: on how to go about the needed austerity with a patient scalpel, instead of a rusty axe, see this editorial by Ms Christina Romer (best quote: ‘Markets don’t want counterproductive measures’!)

All of which is pretty much born out by this article by Ambrose Evans-Pritchard.

So YES! It CAN be done, if you’re not obsessed with punishing PIGS or licking up to the Self-serving Despots in Brussels!

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