Here we have Paul Krugman invited at a European Union conference, to inject his anti-European venom. Why don’t they invite Putin instead? I am sure Vladimir The Invader would be all for the Euro. After all, he is all for a greater union. Instead, Paul Krugman harbors unfathomable rage against that European currency he abhors.
Is it not nice? Instead of speaking of the banks that caused the crisis, and the bankers who made from it, like the bandits they are, we are going to talk about. A currency?
Whether he understands it, or not, Paul Krugman is paid to do that. To hate the Euro. That’s what his position in life is, to be employed by vast and influential plutocratic organizations (Princeton University and the New York Time). To hate the Euro also comes with his location (just south of Wall Street). Location, location, location.
A proof of Krugman’s lunatic hostility to Europe? He relates, and subsequently erupts uncontrollably: ”Barroso [EC chief] just declared that the euro had nothing to do with the crisis, that it was all failed policies at the national level; a few minutes ago he said that Europe’s real problem is a lack of political will.
This is quite amazing, in a really bad way.
Sorry, but depression-level slumps didn’t happen in Europe before the coming of the euro.”
What? I beg your pardon? Elitism is most useful to the global plutocracy. You bring a so called expert such as Krugman, and Big Lies become reality. What’s the difference between that and holocaust denial? I will argue, not much.
What is Krugman going to say next? Sorry, but holocausts “didn’t happen in Europe before the coming of the Euro”?
Reality check: here we have a self-declared, and unanimously applauded specialist of the Great Depression, Nobel Laureate in economics, who proclaims there was no Great Depression, just because it serves his apparently uncontrollable rage against Europe.
It will be interesting to see if he modifies his “European Green Lanterns” post after reading the complaint I sent him. Here it is:
Barroso is history. No doubt a bank or hedge fund is getting ready to employ him.
Curiously, you, Paul Krugman, forgot about the Great Depression of the 1930s. That was before the Euro. It led to a war that killed more than 70 million people (3% of the world population then).
Are you, Paul Krugman, aware that your position on the Euro is somewhat on the right of Marine Le Pen? In her saner moments, Marine just wants to devaluate the Euro itself. (The Euro’s value, built on the long range average of the French Franc is supposed to be one dollar, not 50% higher.)
It is the fact banks got bailed out, instead of bailed-in that caused the sovereign debt crisis. Spain had only 37% debt to GDP before it.
The correct way to do economics within the European house is to create a strong BANKING UNION, which will precisely prevent the bail-outs of wealthy financiers before we sell their private jets and castles.
(Right now only the weakest Banking Union is set-up, mostly because Germany has lots of small near bankrupt banks crucial to her economy. So the BU concentrates only on large banks, and, even then, meekly.)
The incorrect way to do economics within the European house, is to go back to competitive devaluations which, besides stealing the common people, are a way to make war. Economic war, perhaps, but war, nevertheless.
And war of a sort is obviously a preparation for the real thing. It is no accident that the USA marched into its lethal Secession War to the tune of many banks and currencies. (That war killed also 3% of the population.)
During the Secession War, one of the first action of Washington was, as a prelude to unification by force, to forcefully impose a currency for the Union. The present process in Europe is not any different. It’s just more pacific. Paul Krugman, by stridently howling against the Euro, is howling against the Union, and it’s amazing he is invited to do so. Why not visit the local hyena house instead?
Denying the Euro is denying the Union. It’s great for economists based next to Wall Street, and who depend upon Wall Street funding (Krugman, Stiglitz, and all others from Washington to Boston).
But denying the European Union is an invitation to war, some more war, on European soil. Happily many European leaders feel this in their guts.
Sadly, some Americans still believe that competitive devaluations are the way to go, and that it is moral to propose it, that is, to propose more holocausts on European soil.
Economically, it makes sense: the USA’s astounding wealth and power blossomed after the implosion of Europe that the desperate war against fascism from 1914 to 1945 brought. The USA made a huge amount of capital in the Twentieth Century by feeding food and ammunition materials to the Kaiser in World War One.
World War Two was more of the same, hundreds of American corporations, such as, for example IBM, working for the Nazis right through the entire war (and providing services to the Nuremberg trials of some of their top collaborators!).
Let me ask this to Paul Krugman: after we have devaluated currencies, what do we devalue next? Do we devalue Peoples? Is it not, in a sense what Hitler did, after devaluating the German currency? Did he not devalue People? How could that not be the next step?
First put People’s worth in the incinerator, then, if that’s not enough, put the People themselves therein. Then what? Inherit the world. That’s Krugman’s program, pushed to its logical, final solution.
Indeed, a devaluation devalues the People of that nation’s wealth. Krugman advocates doing this. In other words, not content with having taxpayers pay for the thievery of the wealthiest, Krugman wants to make all of We the Common People even poorer by devaluating whatever we have left.
Of course, during the devaluation process, hedge funds located next to Krugman’s home, would make a killing, shorting everything: shares, bonds, currency. What would be next in this Krugman scheme? Oh, we have seen it many times. It’s a sort of American made breathing. The hedge fund would keep on shorting those nations, until everything is just cents to the Euro.
Then, having made a fortune, they will invite Krugman over, and serve him caviar and champagne, in a spirit of communion.
But it won’t be over, we have seen it many times. While those countries are broke, American investors, armed with their strong dollar, will swoop in, like the vultures they are.
Americans, armed with their strong dollar, the one and only reserve currency (once Krugman got his way, and destroy the Euro). Americans will buy the land, as they did in a similar situation in Patagonia, horizon to horizon, singing on all rooftops that they are doing good. Then those hyper wealthy individuals will employ the newly destitute People, and extent the empire of the USA. Then they can invite Krugman, to howl against the Natives some more.
It is just one huge system of thought. Krugman has proclaimed many times that the activity of hedge funds had strictly no impact on the real economy. That of course goes hand in hand with shorting countries as they pull out of the Euro.
Krugman has also claimed, many times, that the fact the Dollar was the world’s reserve currency was not advantageous to the USA (in spite of Keynes being stridently of the opposite opinion, and trying his best to prevent a king dollar). I can’t tell if it’s out of genuine stupidity, or deep disingenuity.
Big American money hates France, and the European Union. Should not it be time for some hate-back on the part of Europeans, after they turned the other cheek for decades, until they got dizzy? Can we start by telling it as it is about Krugman and company? That, unbeknownst to themselves, perhaps, in the guise of comparative economics, by hating the Euro, they foster bloody separatism, and holocausts?
Patrice Ayme
