Monthly Archives: June 2012

It’s 1991 in Egypt (Algeria Redux)

Karl Marx once wrote that history repeats itself, but the first time as tragedy, the second time as farce.  He was writing of 19th century political struggles between republicans and Bonapartists in France, but he could just as well have … Continue reading

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Blasphemy in Israel

Apparently I am not the only one troubled by the Israel’s new Holocaust Memorial,  Yad Vashem (see my post of May 24).   In that post, I complained that the new memorial is more a Zionist monument to the need to … Continue reading

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The lights are going out in Europe … literally

Financial problems have caused Spain to cut electricity to road lights on its highways. http://www.bloomberg.com/news/2012-05-10/lights-go-out-in-spain-as-cuts-plunge-highways-into-darkness.html In Greece, parents are giving up children they say they cannot afford to feed.  What is happening to Europe?  http://www.dailymail.co.uk/news/article-2085163/Children-dumped-streets-Greek-parents-afford-them.html How can political leaders in … Continue reading

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Econo-deism

Philip Stephens of the FT has a wonderful reflection on why we are in such an economic mess, and why economic science has not gotten us out: http://www.ft.com/intl/cms/s/0/291908a0-b577-11e1-ab92-00144feabdc0.html#axzz1y0gPIlVY   Read and enjoy!

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The 2nd Great Depression

Dani Rodrik has published what I can only desribe as a chilling layout of the path to the 2nd Great Depression, titled “The End of the World as we Know it.”    What chills is that Rodrik doesn’t require any great … Continue reading

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Sado-Monetarism

Ambrose Evans-Pritchard writes of European austerity policies in The Telegraph: “Spain must tighten by 4.5pc of GDP this year though unemployment has surged to 24.4pc — from 7.9pc in 2008 — and the public sector is not unduly large. Italy … Continue reading

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Ker-clunk, ker clunk, ker-clunk…

That sound you hear is Europe kicking an ever rustier, more dented can a bit further down the road. Germany has agreed to lend money to Spain’s bank insurance program, in order to sustain the solvency of Spain’s banks. Good … Continue reading

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