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Not entirely. You ovestate the exchange rate issue. German products have more going for them than the exchange rate...and of course they would adjust if it was a different situation. Greece on the other hand is failed in either case.

Going to the Euro allowed the Greeks to borrow money at a AAA rating even though they had no way to pay it back. That is hardly like joining the Mafia. Its more like if you imagined that Obama would start a program of unsecured loans for the homeless that were guaranteed by the shop owners of...

Going back to the Drachma is not a solution for Greece. In order to have a currency, you have to have foreign credit to back it up. Greece has no credit. If it introduces a devalued currency, that currency will fail and turn into hyperinflation. Greece has to stay on the Euro in order to...

Thier intention is irrelevant. They are insolvent. All the purported 'solutions' are all about creating liquidity for defaulted, insolvent, debt. That can never solve the problem. Even if the accumulated soverign debt was forgiven there is no way to fund the current and future deficits; even...

"Nobody is "deleveraging the private sector" Do really think that is true? Have you noticed what is going on in housing? Default is a form of 'deleveraging.' Private credit has been contracting for several years...you can check that at the St. Louis Fed web site...declining aggregatge...

Stardust, thank you for the thoughtful reply. I am glad I made you think about things. There is much we could talk about with regard to interest. In a way, not exactly...but in a way, you could say that it is the interest that causes the inflation. However, the interest is not the cause; it...

Random, that is a good nomiker for you; it describes nature of you comments...that and 'frivolous' or 'shallow.' It is not the natural order....examine history. How do you explain the current condition of deleveraging the private sector? It is good to ask why an apple falls rather that...

Just don't get normal; try and have some fun.

So oldtime, how do you think TV makes money...or used to anyway? They mostly sell adds for stuff you buy...maybe a couple of shows are trying to sell you investment services, but not many...and you should beware those shows they are run by idiots. Why do watch television for news?...the news...

Stardust, there are maitrix of reasons why macro economic and related social changes take place. I highlight only two significant ones. I assure you that the money made by lenders is not the issue, while the role of availability of debt and how the availabilty of debt effects perceived...

Of course women have always worked; in the home and outside. The point of change is what they were working on.

Back in the 1950's Investment was 55% of the GDP; today it is less than 14%. There was no inflation to speak of back then when we adhered to Bretton Woods. Wealth is a product of investment; not consumption. We stopped investing and we started consumming and used inflation to create an...

Well the IRS does have a 'stand' of sorts that you have to pass through and pay tax on your estate (as if you had died) if you want to get out.

The problem is our international corporate tax policy that drives capital out of the U.S. Apple and all other multinationals that earn profit overseas do pay tax in the countries where they earn that profit. The issue is the tax they would owe if they invested the money in the U.S....after...

Insolvent banks should be liquidated and their assets should be taken over by solvent banks.

Stardust...lowering interest rates is a supply issue....expanding credit is a demand issue. That was the whole point of the too many words I have already written in this thread. Just becuae the lower interest rates make it possible to afford more debt at the same income doesn't mean that the...

"Reagonomics" is a media term. I believe it was coined by Paul Harvey. It's often associated with another media term, "trickle down economics". These are both perjorative characterizations used to discredit the policies associated. Neither describes an economic policy; its political...

and really Mcfadden, you say the author was a supporter of Reagan and then you say that there is no author? Do you have any grasp of how incoherent you are in your own voice?

A 45 page pamphlet with no author? And you admonishing someone to do real research? You found it unbiased? How did you fact check it? On a web site with no author? You really don't know the difference between serious history, economic policy and a political slogan. I'll cite you some...

Who was the author of the book and when was it written?