Denninger is more than a bit intemperate, but I agree with him. Paul
Krugman, unfortunately for America, is much too influential. Our equivalent
over here is Will Hutton who was virtually the past Labour Government's
official economist as it spent its way into disaster -- even before the
credit crunch came along. Fortunately our new government is now set on an
austerity programme -- as is Germany. It's not certain whether either
country will have enough social cohesion to succeed in pulling back
government debt but if they do then they will be just about the only
survivors in the dollar-euro train wreck that is fast approaching.
Keith
At 19:43 21/06/2010 -0400, you wrote:
If you like to call yourself a Keynesian, read this!
Steve
http://market-ticker.denninger.net/archives/2432-Spend-Now,-Save-Never.html
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Keith Hudson, Saltford, England
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