Nobel Laureate Says Globe Headed for Financial “Breakdown” and “Radicalism” | Survivalist Investor: Krugman blames policymakers for the impending crash, fearing a replay of Nazi Germany as a result of a radical drop in standards of living on both sides of the Atlantic due to Germany’s refusal to inflate the euro.
“We’re doing a terrible job. We’re failing to deal with it,” Krugman added. “All of the people, the respectable people, the serious people, have made a total hash of this. That is a recipe for radicalism. It is a recipe for breakdown.”
Forcing nations to swallow austerity contributed greatly to the rise of the Third Reich following severe reparations exacted upon Germany post-WWI—a mistake Krugman doesn’t forthrightly say in the RT interview, but may be inferred by his Jewishness, gleaned through numerous posts on his NYTimes Web blog and attributed to his notorious allegiance to a failed monetary system under intense fire from people of all nations affected by the crisis.