Another good read on the euro situation from Bill Mitchell
Posted by WARREN MOSLER on May 4th, 2012
Why the Eurozone is destined to fail
By Bill Mitchell
The Center of the Universe
St Croix, United States Virgin Islands
MOSLER'S LAW: There is no financial crisis so deep that a sufficiently large tax cut or spending increase cannot deal with it.-
MMT: Taxes function to regulate aggregate demand, and not to raise revenue per se.
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The funds to pay taxes and buy government securities come from government spending.
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May 4th, 2012 at 9:27 am
I hope Draghi will be able to force Germany to enable Bce to Print like Fed/Boj.. he will use panic selling to obtain this permission by October 2014 when Ltro3 expire..
Mitchell suppose an inertia trend without Human Change..
I think Mitchell’s analisys is correct if Draghi fail..
see below another related news..
cordiality
Piero from Italy
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IMF’s Blanchard: Debt situation in US, Japan as bad or worse than in Europe ( May 3, 2012 )
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roger erickson Reply:
May 4th, 2012 at 9:33 am
@Piero from Italy,
By 2014? Will anything be left to argue over by then?
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Piero Reply:
May 4th, 2012 at 9:40 am
@roger erickson,
no..
from now to 2014 a series of managed growing panic wave will force step by step higher Bce flexibility..
this is what I hope..
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WARREN MOSLER Reply:
May 4th, 2012 at 11:25 am
they may not make it through next week, the way it’s going today…
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Piero Italy Reply:
May 4th, 2012 at 1:17 pm
@WARREN MOSLER,
maybe..
US up with wave until Nov. to thank Obama that didn’t have put real limit to Wally Boys (and to place FaceBook = Fee)..
Eu more scientific panic then US..
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