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"The good news: I thought Our Kampf was consistently hilarious. The bad news: I’m the guy who wrote Monkeybone."—Sam Hamm, screenwriter, Batman, Batman Returns, and Homecoming
December 09, 2011
Completely Wrong Today, Completely Wrong Tomorrow, Completely Wrong Forever!
As always, Robert Samuelson is standing on the Washington Post's steps, preventing reality from getting inside:
Europe’s turmoil is more than a currency crisis and was inevitable, in some form, even if the euro had never been created. It’s ultimately a crisis of the welfare state, which has grown too large to be easily supported economically.
I'm not sure when the Washington Post first began reporting that the welfare state can't be supported economically. I believe it was shortly after Bismark took power in 1871.
For more of Robert Samuelson's uncannily acute understanding of economics, see this column of his from July, 2008:
[O]n the whole, the banking system seems fairly strong ... The paradoxical thing about today's economy is its strength.
BUT THERE'S MORE: Samuelson's 2008 column was endorsed at the time by Greg Mankiw, chairman of the Council of Economic Advisers during Bush's first term and definitely in the top 20 people responsible for our current catastrophe. I will always remember interviewing Mankiw in 2005, and how he got extremely upset when I suggested we might be experiencing a housing bubble.
—Jonathan SchwarzPosted at December 9, 2011 10:58 AM