I'm reluctant to comment on Greece's latest demetamorphosis since Greek politics isn't my speciality. But that's OK, since it doesn't seem to be much of a speciality for Greeks, either. As Krugman wraps today's events: "The debacle rolls on."
Debacle-manufacturing isn't unique to Greece, though. Earlier I was listening to Harvard's Kenneth Rogoff--hardly a Share Our Wealth, Huey Long economist--urging the central banks of both Europe and the United States to "flood the markets with liquidity," and here at home for the U.S. government to begin rebuilding our decayed and decaying infrastructure: roads, bridges, water systems, ports, all the material components of a modern civilization without which we cannot sustain ourselves, let alone grow economically.
And yet what are we doing? What is roughly half of Washington advocating? The Greek solution.
The debacles roll on.