18.5.10

Mais tarde ou mais cedo, toda a gente vai perceber isto

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Edward Hugh:

"In fact, a rather weird circle has been created. The private sector (possibly as a result of the absence of adequate public vigilance) got itself into a huge mess of its own making. Governments all over the globe (understandably and correctly) rushed in to put the fire out, and in the process transferred the problem over to their own balance sheets. But what is most interesting to note about what happened next is how, given that the crisis itself means there are few positive investment outlets in the first world, the money generated by the bailouts is increasingly being used to encircle those very governments who initially made them. Basically a massive moral hazard conundrum has been created, as markets leverage a discourse which pressures governments for fiscal rectitude (which is contractionary - given the depth of the crisis - as far as aggregate demand is concerned), in the process creating the need for yet more bailouts, and so on (the possibility of ultimate Greek default being perhaps the clearest example here)."

E como irão as pessoas reagir quando perceberem?
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2 comentários:

Rui Monteiro disse...

Caro JPC,

É de uma enorme clareza. O problema é que quando as pessoas perceberem a solução deixa de ser económica. Nem sei se a economia ainda tem alguma utilidade nesta altura. Mais tarde ou mais cedo, na Grécia, por exemplo, vai ganhar um partido com o lema "não pagamos". Se esta coisa se alstrar, o "não pagamos" vai-se generalizar. Nessa altura, o caldo vai entornar-se de vez.

DL disse...

Como é que acha que as pessoas devem reagir?