Quote du Jour: Crony capitalists in a state of denial

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The quote below comes from across the pond from Clive Hale, author of the View from the Bridge blog.

“If Greece leaves the eurozone – which they should never have been admitted to in the first place – then the euro experiment is over. Germany and France cannot contemplate this happening, so Greece, Ireland, Portugal et al will be bailed out ad infinitum as the cost is tiny compared to the perceived alternative.

“Eventually that will be seen to be the wrong decision, which the good burghers of Germany already know, but not their elected representatives who continue in a state of denial as do the Fed, the US Treasury and all the other crony capitalists …

“Keynes’s body should be dug up and cremated with a sprinkling of gold dust …”

Source: Clive Hale, View from the Bridge, May 11, 2011.

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