When the facts change, I change my mind. What do you do? -- John Maynard Keynes

Wednesday, November 23, 2011

Eurozone: the confidence fairy’s not coming

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Brief Eurozone status update: “Even with unlimited political will, this would be a recipe for prolonged recession and stagnation in Europe. With political capital limited in practice — watch Spain’s new government quickly become just as unpopular as the old one! — it’s a recipe for catastrophe. No wonder eurocrats placed their faith in the confidence fairy. But she’s not coming. It would take a radical reversal of course to save this thing. And so far I see no willingness to face up to that necessity.” -- Paul Krugman in the New York Times

The Big Picture

Financial Crisis - The Telegraph

JohnTheCrowd.com | The Sailing Website

Craig Newmark - craigconnects