Monday, November 04, 2013

Krugman Wrongly Getting On Germany for its Economic and Financial Policies

At the New York Times, Paul Krugman is wrongly going after Germany again -- as if hard work and economic success were crimes and as if Germany had the responsibility to bail out the wealthy in other EU nations.

See Krugman on German economic policies.

Germany is not at fault for Europe's economic and financial problems. At fault are continued mass inequalities of wealth and income in countries that refuse to get out of old patterns.

Where wealth and income are more fairly balanced, especially in more northern nations, Europe is prospering.

But countries such as Greece or Spain are very much like the USA. A small percentage of citizens have and control all the money. Government deficits and financial crises in those countries are comparable.

Go rather after those in America and in EU perimeter countries who hoard their nation's wealth for their private benefit. That is what NEEDS to be done.

Fixed elitist STRUCTURAL problems, that reach far back in history, are the prevailing economic weakness in Europe.

Krugman most certainly should not be comparing savvy well-informed Germans with hopelessly uninformed American politicians, especially the fanatic, deluded extremists within the U.S. Republican Party.

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