Nouriel Roubini is terrible in economic theory and doesn't have a clue about gold, but he is as tied in as an economist can get with the power elite. So when it comes to economics/politics, Roubini is worthwhile paying attention to. Below is Roubini's take on the EZ countries and their current relative financial strength. There is nothing earth shattering here, but it is the first time I have seen them all categorized.
EZ: Hard Core (Germany, Netherlands, Finland, Luxembourg, Slovenia,..), Soft Core (France, Belgium, Austria) & PIIGS (Greece, Ireland, Portugal, Italy, Spain, Cyprus).Or Paradise / Purgatory / Hell
What he fails to understand is that the hell hole of the EZ was created by their leaders listening to him and his peers over the years. Not that long ago (2010) Stiglitz and Sachs were saying that there was no problem with Greece that a little intervention couldn't fix and that everything was fine everywhere else in the EZ.
ReplyDeleteAllowing economists like Roubini, Stiglitz, Sachs, etc to influence a government's economic policies is like giving a monkey a razor blade.
There is no paradise anywhere in the EZ...They are all just pathetic tax slaves where most live like cockroaches. At least the Hell Zone has nice weather, women, booze, and beaches so Nouriel Roubini remains an ignorant little EconParasite (aka, Keynesian). Still.
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