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I, too, have to agree with Santiago.  Macroeconomic theory explains it just fine.  Even a right-wing economist like Friedman would tell you that Europe is insane to push these programs, to say nothing of raising interest rates in the face of a depression.

You have to wade pretty deep in with the nutbags to get theory that supports what's being done to the periphery.

Unfortunately, that seems to be exactly what the Angela Merkels and Axel Webers of the world have done.

Be nice to America. Or we'll bring democracy to your country.

by Drew J Jones (pedobear@pennstatefootball.com) on Tue Oct 25th, 2011 at 01:42:39 PM EST
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