Sunday, May 16, 2010

Krugman sidesteps Greek problem

Interesting article . He manages to say nothing bad about Greece, Europe, the Euro. The only bad things he says are the United States, George Bush, and especially Bush's tax cut.

He says vaguely that Greek costs and prices got far out of line. The cost of what? Olive oil? Or labor?

You don't have to be super-conservative to see that Greece shows that unions and government benefits CAN go too far.

in reference to:

"During the good years, when capital was flooding in, Greek costs and prices got far out of line with the rest of Europe. If Greece still had its own currency, it could restore competitiveness through devaluation"
- Op-Ed Columnist - We’re Not Greece - NYTimes.com (view on Google Sidewiki)

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