Euro debt crisis: is complete pessimism justified?

The Telegraph ^ | 7/1/2012 | Roger Bootle

[bruinbirdman]

It isn

[Positive]

Now the pessimism is justified, but in the long run it isn't???

Wasn't it Keynes who said "in the long run we are all dead?"

[FastCoyote]

See, all ya gotta do is stimulate demand! What could be more simple??

Of course, my own personal demand is currently infinite, so that ought to suck up just about all the lack of demand that brainiac economists think we need.

[bruinbirdman]

"See, all ya gotta do is stimulate demand!"

There is always demand in socialist economies. There is a lack of hard currency purchasing power.

yitbos

[haroldeveryman]

“Euro debt crisis: is complete pessimism justified?”

If the attitude of the Greek people, which seems to be “Keep the party going” is typical of the European Club Med countries, then yes, complete pessimism is justified.
In fact France’s new prime minister has been clamoring for more government benefits in an apparent effort to join the party.

[piytar]

Wow, this guy is an economic illiterate. The moocher class has grown too large. The end result in Europe is assured: despotism and slaughter. Sadly, we’re close to that line here.

[cgbg]

Europe replays the same tired old script every generation or two.

Politicians promise something for nothing.

The public elects them.

Politicians run up the public debt to unsustainable levels.

Heroic bailout efforts ensue.

Then war of all against all.

Rinse and repeat.

[Old Sarge]

Euro debt crisis: is complete pessimism justified?

Yes.

Next question...