Europe in Purgatory. Robert Samuelson: “…it’s obvious that adopting the euro was a colossal blunder. It may rank as Europe’s worst policy mistake since World War II. The virtues of the common currency – it reduced transaction costs and the uncertainty of fluctuating exchange rates among national monies – were temporary. Its vices seem permanent…” The single currency is a financial roach motel for Europe – they got in and now they can’t get out without great damage to themselves… and us.
Author: Bonfire of the Absurdities
After 35 year career writing software for IBM mainframes, am now self-employed contractor thinking of joining a union and striking for higher wages. Cured morbid fear of heights when I learned to look at them as lengths standing on end. Uncompromising in refusal to accept browser cookies. Amateur investor who has accumulated a small fortune in the market after starting out years ago with a large one. For recreation, I run, hike, kayak and play tennis but will not consider synchronized swimming under any circumstances.
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