Once again, Herr Schlichter dissects the EU’s latest can-kicking escapade through the microscope of hard-core Austrian analysis. Here’s a quote:
“What struck me most when reading the first responses to the EU summit was this: most of what you get from the mainstream media pundits or from the financial economists on Wall Street or in the City of London not only misses the relevant points, it usually gets things completely the wrong way round. What these analysts suggest is good policy and needs to be done is almost always bad policy and should be avoided under any circumstances.”
I must say, I’ve always found it interesting how we as a society look back at the political fools of the past, such as the idiot politicians of the Weimar republic, and laugh at their actions, while at the same time applauding the exact same actions of our own generation of idiot politicians.
The beauty of Detlev Schlichter’s writings are that they throw this outstanding blinkered hypocrisy into tangible relief.
Read the rest of his superb article at his blog.