The two most revealing sentences about the gratuitous Eurozone disaster – the creation of the deepening Ã¼ber-Depression – was reported today. The context (rich in irony) is that U.S. Treasury Secretary Lew spent his Spring Break in Europe meeting with his counterparts. The Wall Street Journal’s article’s title explains Lew’s mission and its failure: “U.S. Anti-Austerity Push Gets Cool Reception in Europe.” Here are the sentences that capture so well why Germany’s destructive economic policies caused the Ã¼ber-Depression: ““Nobody in Europe sees this contradiction between fiscal policy consolidation and growth,” said Mr. SchÃ¤uble. “We have a growth-friendly process of consolidation.”
Some time ago, in the pages of USA Today, Duncan Black, better known to some as Atrios voiced the immediate need for increased Social Security benefits of 20% or more even if it means raising taxes on high incomes, or removing the payroll tax cap on salaries.