07 October 2012

Let's Get Physcal

A recurring theme in this endeavor has been that the Euro was doomed from the beginning, since it was wrapped in a straitjacket monetary policy with nothing more to show for the effort; at least The Emperor was merely naked. And when The Great Recession arrived, it all went to hell in a handbasket. Monetary policy is pushing the string; fiscal policy is pulling it. That monetary policy generally fails should come as no surprise. Not that the Right Wingnuts here in the USofA have permitted much fiscal policy to deal with our bit of The Great Recession.

Imagine my surprise to see in today's news that the adults have spoken up. It's hardly a done deal, but the Northerners have to deal with the Southerners Over There (Over There), just as we have to deal with Mississippi. The Eurofolk have the advantage of not having that purely American straitjacket, the Electoral College.

This appears to be the paper. The Reuters' piece is off by a couple of months in reporting when the paper appeared. Searching yields other documents, some from September. In any case, sanity is recovering.

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