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Roubini On Internal Devaluation – NYTimes.com
The international experience of “internal devaluations” is mostly one of failure.
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Tough-talking Germany takes the eurozone to the brink of a break-up – Telegraph
I ended last Sunday’s column by predicting that the latest eurozone bail-out would unravel within two weeks. Amid the post-deal euphoria, this statement raised a few eyebrows.
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Not From The Onion — Marginal Revolution
What astounds me is not that someone could amass $35,000 in student loans pursuing a dream of puppetry, everyone has their dreams and I do not fault Joe for his. What astounds me is that Richard Kim, the executive editor of The Nation and the author of this article, thinks that the failure of a puppeteer to find a job he loves is a good way to illustrate the “national nightmare” of the job market.
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The reason it’s bad is because while NGDP stays on target inflation and real output are oscillating above and below target and real output is the thing we actually care about most!