“When the ants and the grasshoppers are distributed across the division separating surplus from deficit nations within a badly designed monetary union, the stage is set for a depression that sets all against all in a vicious spiral from which only losers can emerge.” Yanis Varoufakis explains why he thinks that countries in the euro zone can neither bail out nor be bailed out of the current crisis.
www.channel4.com
Tag Archives: crisis
The curse of TINA
“Think Tanks surround politics today and are the very things that are supposed to generate new ideas. But if you go back and look at how they rose up—at who invented them and why—you discover they are not quite what they seem.” Adam Curtis looks at the history of the Think Tank in the UK and asks why modern politics, for all its Think Tanks, seems so paradoxically short of new ideas.
www.bbc.co.uk
Why isn’t Wall Street in jail?
“Evidence indicates that when it comes to Wall Street, the justice system not only sucks at punishing financial criminals, it has actually evolved into a highly effective mechanism for protecting financial criminals.” Financial crisis ongoing, Matt Taibbi’s article should be of interest to anyone.
www.rollingstone.com
The roots of the crisis
“It is the intersection of several underlying trends that have brought us to this point, not a breakdown in any specific part of the financial sector.” Michael Flynn looks at the underlying reasons for the current Wall Street crisis.
www.reason.com
The Legacy
“It would have been nice to let Bush’s two terms marinate a while before invoking Herbert Hoover and James Buchanan from the cellar of worst presidents. But then—over the last two weeks—he completed the trilogy of national disasters that will be with us for a generation or more.” Timothy Egan assesses the Bush Presidency.
egan.blogs.nytimes.com