{"id":8472,"date":"2015-05-26T06:05:03","date_gmt":"2015-05-26T11:05:03","guid":{"rendered":"http:\/\/olduvai.ca\/?p=8472"},"modified":"2015-05-26T06:05:03","modified_gmt":"2015-05-26T11:05:03","slug":"pray-for-graccident-it-will-trigger-the-demise-of-the-ecb-and-the-worlds-toxic-regime-of-keynesian-central-banking","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=8472","title":{"rendered":"Pray For Graccident\u2014\u2013It Will Trigger The Demise Of The ECB And The World\u2019s Toxic Regime Of Keynesian Central Banking"},"content":{"rendered":"<h3 class=\"entry-title\"><a href=\"http:\/\/davidstockmanscontracorner.com\/praying-for-graccident-would-trigger-demise-of-the-ecb-and-the-toxic-regime-of-keynesian-central-banking\/\" target=\"_blank\">Pray For Graccident\u2014\u2013It Will Trigger The Demise Of The ECB And The World\u2019s Toxic Regime Of Keynesian Central Banking<\/a><\/h3>\n<p>It is not surprising that in a few short months\u00a0Yanis Varoufakis has proven himself to be a thoroughgoing Keynesian statist. After all, what would you expect from an economics PhD who co-authored books with Jamie Galbraith? The latter never saw an economic malady that could not be cured with bigger deficits, prodigious printing press \u201cstimulus\u201d and ever more intrusive state intervention and redistribution.<\/p>\n<p>In what is apparently a last desperate game theory ploy, however, Varoufakis has done his countrymen, Europe and the world a favor.\u00a0By informing\u00a0his Brussels paymasters that they must continue to subsidize his bankrupt Greek state because it is\u00a0the only way to preserve the European Project and vouchsafe the Euro,\u00a0the Greek Finance minister\u00a0blurted out the truth of the matter, albeit perhaps\u00a0not intentionally:<\/p>\n<blockquote><p>\u201cIt would be a disaster for everyone involved, it would be a disaster primarily for the Greek social economy, but it would also be the beginning of the end for the common currency project in Europe,\u201d he said.<\/p>\n<p>\u201c<em><strong>Whatever some analysts are saying about firewalls, these firewalls won\u2019t last long once you put and infuse into people\u2019s minds, into investors\u2019 minds, that the eurozone is not indivisible,\u201d he added.<\/strong><\/em><\/p><\/blockquote>\n<p>He sure got that right.\u00a0People who believe in democracy and economic liberty\u00a0anywhere in the world\u00a0should pray for a Graccident.\u00a0During the next\u00a0several weeks, when $1.8 billion in IMF loans come due that Greece cannot possibly pay,\u00a0there will occur a glorious moment of irony for Syriza.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pray For Graccident\u2014\u2013It Will Trigger The Demise Of The ECB And The World\u2019s Toxic Regime Of Keynesian Central Banking It is not surprising that in a few short months\u00a0Yanis Varoufakis has proven himself to be a thoroughgoing Keynesian statist. After all, what would you expect from an economics PhD who co-authored books with Jamie Galbraith? [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[2120,195,200,233,279,282,284,5696,1167,467,5697,2236,2921],"class_list":["post-8472","post","type-post","status-publish","format-standard","hentry","category-economics","tag-david-stockman","tag-debt","tag-default","tag-ecb","tag-eu","tag-european-central-bank","tag-european-union","tag-graccident","tag-greece","tag-keynesian-economics","tag-stockmans-corner","tag-syriza","tag-yanis-varoufakis"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8472","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8472"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8472\/revisions"}],"predecessor-version":[{"id":8473,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8472\/revisions\/8473"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8472"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8472"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8472"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}