annatar1914 wrote:It always comes down to force with those people, it seems. I think leaving the EU is the better option, because the EU is turning out to be the enemy of it's member nations, save one...
Sir, do you consider me one of 'those people'?
And, I didn't say to use violence. There are ways to apply pressure that are not violent. Right?
Germany clearly doesn't want to change the EU. The German people don't understand that for them to sell more to the world year after year than they buy, many other nations *must* buy more than they sell.
. . And that this is not stable. Neither people (all the time) nor nations (in international trade*) can buy more than their incomes allow in the long run. They can't buy with credit forever. And nations can't sell if no one is buying.
. . Somehow it seems Neo-liberal Economics fails to make this clear.
So, either all the nations of the EU, except Germany, leave it or somehow the Germans are convinced to allow the rules to be changed.
. . The euro was promised to provide prosperity for all. Instead it has brought austerity for all, except Germany. Some economists (all the MMTers) predicted this would happen in the next recession, and clearly they were right.
. . The euro can only survive IF 1 of 2 things happens. 1] Some way is created to create a flow of free euros to the nations that import so they can use euros to buy from the nations that are exporting. [Here I'm assuming all the nations we're talking about are in the Eurozone.] OR, 2] Some way is found to let nations regulate the amount of importing they do to match the amount of exporting they can do.
. . The US does the former by giving the Senators from each state the power to get or force the Fed. Gov. to spend more in poor states than it does in the rich states. Somehow, in the past just enough dollars went into most every state to match all the dollars that flowed out of it. If this wasn't true then some states would have been getting poorer and poorer over time. It may not be as true now, because some states seem to be getting poorer [like Ohio, Indiana, etc., i.e. the rust belt].
* . Fiat money *does* allow a nation to spend inside its borders more than it takes in in taxes and fees. Such nations can borrow without limit, or they can just create cash and spend it into the economy almost without limit. The US has been doing the former since 1981 and did the latter in the GFC/2008. US inflation is now about 2%, so all that borrowing and spending is NOT creating inflation. These are just facts. So far half the neo-liberal economists who between 1981 and 1993 said this
could not happen have died of old age waiting for their prediction to come true. When will the American people** realize that this prediction will never come true?
. . But, this only applies inside its borders.
**. This would also apply to many European nations if they left the EU and got their own fiat currencies back.