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I'm not arguing from a moral point of view here. If I did, well, sure, I agree that the ECB is acting very badly. And stupidly.

But that does not change the argument about what would eventually happen, as it is not a normative argument. And furthermore, you know just as well as I do that equilibrium would not be achieved by the unemployed starving to death.

Peak oil is not an energy crisis. It is a liquid fuel crisis.

by Starvid on Sat Mar 17th, 2012 at 08:04:39 PM EST
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equilibrium would not be achieved by the unemployed starving to death

You're right: they are, and it isn't.

There are three stories about the euro crisis: the Republican story, the German story, and the truth. -- Paul Krugman

by Migeru (migeru at eurotrib dot com) on Sat Mar 17th, 2012 at 08:06:02 PM EST
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