The problem in every single one of these episodes....none of the governments can downsize. They all made promises that they can’t keep.
Patiently waiting for Krugman to declare that an entire world depression, is a good thing.
Robespierre and Cromwell come to mind although separating their bodies into four pieces with horses and sending those pieces to the four ends of the empire is a bit much.
Krugman’s head would make a lovely basketball for the youts and when like Germany between WWI and WWII, we’re going to have millions of dollars in a basket to buy a loaf of bread and someone will leave the money preferring to steal the basket. Krugman’s I’m sure ‘his’ fabulous apartment will not protect him. Maybe his MMA training will help.
Unqualified opinion.....
The transvestite LaGarde and the IMF are salivating at the thought
of plundering Portugese bank accounts a la Cyprus.
Were I a resident of Pirtugal, I would be withdrawing my money tomorrow.
“About that money you had in the bank? Uhhhmmmm......”