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mk · 3595 days ago · link · · parent · post: Jeremy Warner: Austria is fast becoming Europe's latest debt nightmare
I agree about the over-reliance on central banks. Like many bipolar arguments, I feel that Austrian and Keynesian positions are probably both correct and wrong. When a few people get to exercise a theory upon many, things tend to go poorly. Central banks have been picking winners and losers based on their own assumptions which cannot reflect reality. Too much central planning is a bad thing. It's quite possible that a basic income is going to be a component of a sound economic policy going forward. However, both Greece and Portugal are going to have to extricate themselves from what the markets consider to be their current obligations.