What's Next For Greece | Simon Johnson | Baseline Scenario

An interesting dissection of the realities that NEED to be more clearly communicated - "Do not try to run any modern economy on a purely cash basis; the further fall in GDP would be enormous" in reference to Greece leaving the EU - I view this premise as potentially applicable to a more broad geography than simply Greece - to me this means that changes to how money is viewed and exchanged namely fractional banking and leverage will be a fundamental driver to lower productivity and lower standard of life - this is the basis to my continued thoughts of how the credit-debt-value relationship is so broken - and until that truly is fixed - we will continue to muddle through.

Simon Johnson's latest - What Next For Greece And For Europe?