This article starts off on a promising note, castigating Greece for profligate policies and calling on her to accept harsh budget cuts (apparently, only the United States should just spend, baby, spend).
But, towards the end, the article seems to indicate that other European countries that are currently in trouble (Spain, Ireland) suffer not from over-spending, but from a global economic crisis! I'm amazed that the Times doesn't call for more spending in Greece! Krugman and the times editorial staff seem to be in lockstep with the idea that only good old-fashioned Keynesian spending will bring these guys (including the U.S.) back from the brink.
Utter rubbish. The solution, as always is to live within your means - if the money ain't there, don't spend it.
in reference to: Editorial - Europe’s Bailout - NYTimes.com (view on Google Sidewiki)
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