http://pragcap.com/marc-faber-the-market-could-move-sideways-to-down Fri, 25 May 2012 21:06:37 +0000 hourly 1 http://wordpress.org/?v=3.3.2 http://pragcap.com/marc-faber-the-market-could-move-sideways-to-down/comment-page-1#comment-11430 Euro Collapse Thu, 04 Feb 2010 12:35:02 +0000 http://pragcap.com/?p=16392#comment-11430 The price level in the PIIGS is too high and wages most go down on the international level, while the budget cuts needed for these countries to remain solvent during a deflationary depression enforced on them by Germany via the Euro are so staggering that no modern democracy will be able to handle. As the riots in Greece have shown, any government in the world that will try to make public spending cuts in double digit percentage points will not survive. Not to talk about the fact that will need to lower the minimum wage during a depression, an action never done by any government. It will cause a <a href="http://israelfinancialexpert.blogspot.com/2010/01/euro-crisis-budget-cuts-are-doomed-to.html" rel="nofollow">euro collapse</a> The price level in the PIIGS is too high and wages most go down on the international level, while the budget cuts needed for these countries to remain solvent during a deflationary depression enforced on them by Germany via the Euro are so staggering that no modern democracy will be able to handle. As the riots in Greece have shown, any government in the world that will try to make public spending cuts in double digit percentage points will not survive. Not to talk about the fact that will need to lower the minimum wage during a depression, an action never done by any government.
It will cause a euro collapse

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