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12 June 2012

The Pain in Spain

I think Paul Krugman's column in the NY Times captured best the lunacy and viciousness of the European Central Bank's monetary policy. They are all for bailing out the banks, the very criminals who got Spain into this pickle, but won't lift a finger for the working women and men who were and are the innocent victims of the crisis. Instead the technocrats and plutocrats who love them patronizingly talk of the need for the peones to embrace austerity as if its the path to spiritual transformation.

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