Paul Krugman: liberal loner who thinks Obama is spineless and Gordon Brown saved the world
Funny text by Andrew Clark in the British Guardian on the foremost American "intellectual" and "economist".
Comment: It is the readers who make the author.
It is when, not if. Financial markets merely aren’t sure whether it’ll be tomorrow, a month’s time, a year’s time, or two years’ time (it won’t be longer than that). Given that the ECB has played the “final card” it employed to force a bailout upon the Irish – threatening to bankrupt the country’s banking sector – presumably we will now see either another Greek bailout or default within days.
What happens when Greece defaults. Here are a few things:
Comment: Well, dear Andrew, you may be right in your analysis about the consequences, yet I bet you are wrong in your premise. Exactly because of the consequences you so brilliantly described, Greece will not default.