Capital Account: Economist Philipp Bagus on Ways to Exit the Stage of the Euro Tragedy (01/06/12)

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While the euro continues its downwards spiral that it has been on since mid-october, europe's politicians and technocrats are talking about how debt-stricken countries can stay in the euro...merkozy will come together for a meeting Monday, and we may have a hint of what that meeting will look like from a popular web video of the two of them that has gone viral on the internet. What do the Germans have to say about this, as well as euro membership? Well, we bring in German economist, Philipp Bagus to tell us what he thinks. He is professor of economics at University Rey Juan Carlos in Madrid, and one of the keynote speakers at the EFD group on a strategy for exiting the euro put together and promoted by UKIP leader, Nigel Farage. Philipp Bagus is also author of, "The Tragedy of the Euro," so he isn't exactly a fan of the europroject. He also speaks to us about solutions -- ways that countries can exit the euro in the best way possible.

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[turbotrana]

The "Reality Check" segment is excellent. Every time I watch Capital Account I am really impressed with the content. Congratulations to all involved.

[MrFmmcosta]

What about making the word of the day "Free Banking"?

[LordLindsey12]

Who REALLY runs our world? search "israel Did 911" and search "ZionCrimeFactory" for proof.

"US Rep. McKinney has accused the pro-Israel Lobby in America (AIPAC, ADL, etc) for ruining her political career.She refused to sign the pro-Israel pledge from Congress and took a pro-Palestinian stance. Because of this, she said “war was declared” on her by them. In 2009 she told TIU's Ognir that “more than 99% of Congress work for Zionist-Israeli interests.”

w(dot)zioncrimefactory com/jew-world-order

[vedz69]

I SAY KILL THE Bank Cartel's BOMB THE BANKS AND START A GOLD CURRENCY FOR INDIVIDUAL COUNTRY

[MirageScience]

@MrkBO8 Poor people could afford healthcare, hospitals still todays dont turn people down, and many doctors offered free health care expecially for kids whos parents couldnt afford it. Is it not obvious that prices for health care have increased since government involvement? Also, share holder returns do not require prices to go up, that seems obvious too... If anything competition drives prices down to almost the cost of production, it's just what happens and it makes sense.

[MrkBO8]

@MirageScience Poor people cannot afford healthcare, doctors expect to be paid highly and the more intensive the treatment, the more expensive it is. Not sure why things would be cheaper, supply and demand drives prices, corporate shareholders expect higher and higher profits so are forced to charge more and more for the same or less goods. IMHO...(IMO) Capitalism replaces law of the jungle and competition, we compete among ourselves and use wealth as the measure. This applies to corporate's too

[Participativa1]

This guy is a joke, and so is the Juan Carlos University in Madrid. To say that a European Superstate is a socialist project, that redistribution brings conflict and that only free trade brings peace and prosperity is neoliberal fundamentalism at its best. I really think the King of Spain should withdraw his name from an institution that feeds such garbage to its alumni...

[MirageScience]

@MrkBO8 if the government wan't taking half of all the wealth gernerated by the population then we would have plent for donation, things would be cheaper and even the poor could afford healthcare. The united states got so far as being able to have fat poor people, and it could have made much more possible for the poor.

[MrkBO8]

@MirageScience Nice thought but who pays for roads, hospitals and other public facilities. Dont forget welfare is great too, it stops desperate people from being sufficiently motivated to rob people and makes society safer ;o)