Krugman: 'We're Rapidly Approaching A Moment Of Truth' - NYT

[TooPragmatic]

39. Why not just use Alex Jones

Seriously, reading that article was nothing but a waste of time. Mundell's work did contribute on the creation of the Euro. However it wasn't simply created to achieve his political and economic goals.
"I can't have a toilet in my villa! I KNOW! I will create an idea for an European currency that will blow up in their faces, destroy the European economy. And 'i will get my toilet."

It's absurd to claim that the Euro will help get rid of regulations and privatize all parts of European economies. Just look at how regulated European countries are. And to claim that soon all of Europe will go on a path like Greece where privatization is/was on overdrive is also foolish. I don't think that the privatizations that took part in Greece were beneficial in some of the cases and I think there should be some changes made to the current mess that is Greece's debt. But to take away the blame from Greek politicians, corporations and individuals who destroyed the Greece's economy by corruption, tax-avoidance and handing out overly generous benefits. And I understand that no one wants to trust Greek politicians when they ask for more money and to be fully in charge of handling that money.

Palast seems to be making the argument that all privatization is bad and having a system where politicians aren't in charge of the monetary policy themselves is bad. That is a biased political argument and that weakens Palast's authority and he is ultimately as reliable as a pundit like Rush Limbaugh.

And people should stop freaking out over the fact that not every single official is elected by the people. Sure, Mario Monti wasn't elected is part of Italian politics. he was appointed by the Italian president(elected by politicians). Monti was appointed, because the other option would have been new elections and economic instability. Italy was a mess back then and still is, but Monti did cool down Italy's crisis.

It's always easy to get uninformed leftists to get angry when you use Reagan and Tatcher in your article. And of course a quote by Krugman is a must. This article is nothing more but a bunch of half truths and using some peoples ignorance to manipulate them to believe that the euro is a way to a banana republic.