Sunday, December 18, 2011

European Debt Crisis: Talk by Dr. Heiner Flassbeck

OK. TV Time again. Take 20 minutes to understand the cause of the European debt crisis.

Back in the 1990’s , just before the initiation of the euro, the Germans tried to institute a full employment policy by holding down wages for an extended period of time. That failed. They did succeed in beggaring their neighbors, however.

Or you can get it, where I first got it, at:

Where I was pointed by: (Although I visit regularly.)

Dr. Flassbeck concludes with a few words about the US, worth noting also.

Still like the idea of Import Certificates, since they force the balance of trade, and each country's policy is independent of any other country's policy, even if with a currency union.

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