I was pleasantly stunned when I started reading Paul Krugman's "Third Depression" opinion piece Sunday. Stunned that we agreed.
We are now, I fear, in the early stages of a third depression. It will probably look more like the Long Depression than the much more severe Great Depression. But the cost — to the world economy and, above all, to the millions of lives blighted by the absence of jobs — will nonetheless be immense.
And this third depression will be primarily a failure of policy.and then he goes over the cliff...
Around the world — most recently at last weekend’s deeply discouraging G-20 meeting — governments are obsessing about inflation when the real threat is deflation, preaching the need for belt-tightening when the real problem is inadequate spending. Really?!?
http://www.nytimes.com/2010/06/28/opinion/28krugman.html?src=me&ref=generalHey Paul, we've been trying it your way. At what point does Einstein's definition of insanity apply?
http://www.investors.com/NewsAndAnalysis/Article.aspx?id=538727http://www.businessinsider.com/david-rosenberg-paul-krugmans-doom-warning-is-spot-on-2010-6http://www.businessandmedia.org/articles/2010/20100629100026.aspx
Wine is sunlight, held together by water - Galileo Galilei
Un jour sans vin est comme un jour sans soleil - Louis Pasteur
Water separates the people of the world; wine unites them - anonymous
Wine is the most civilized thing in the world - Ernest Hemingway
Wine makes daily living easier, less hurried, with fewer tensions and more tolerance - Benjamin Franklin
