Some brief thoughts on the eurozone breaking up

Summary: Recently, Niall Ferguson reminded us of the eurozone pessimism of 2011 and 2012 in a recent polemic against Paul Krugman. Without getting into the Krugman-Ferguson war, I want to hone in on this subject because I think it tells us something about the way crisis politics work.
I had written only the summary above when my mother called, asking me about an investment advisor she heard on the radio who was predicting hyperinflation in the United States and the fall of the US dollar. This g...


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