by John Rubino, Dollar Collapse:
It goes on and on, through youth unemployment and political turmoil and every other kind of malaise short of major war. Meanwhile, the news in most of the rest of the world is, if not great, at least not horrendous. Here in the US headlines containing “despair” or “depression” are limited to pharmaceutical ads. And Japan, with its low interest rates and positive growth, seems to think it’s recovering (you have to admire their ability to compartmentalize, what with a nuclear plant melting down right in the middle of the country).
So why is the eurozone regressing when the rest of the world is (or thinks it is) recovering? The answer is straight out of the currency war script: The US and Japan have been monetizing the hell out of their debt, weakening their currencies against the euro, and generally giving themselves a trade advantage.
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