The behavior of German leaders in the Eurozone crisis is just disturbing, considering that that country received debt forgiveness at the end of World War 2.

It seems that all countries involved in that debt forgiveness, the USA, Britain, France and Germany, have all become the very thing they sought to prevent at the end of that war.

These countries forgive nothing, except bank debt, anymore.

They are hard hearted Lords of us serfs to be sure.

And Megan McArdle defends the present status quo of bank oppression, serf obedience, and speculation.

The prosperity that came to Europe and the USA after the war was a result of debt forgiveness, rebuilding, and controls against speculation.

These countries have abandoned that formula entirely, and have become unwilling to cram down any debt, both on a national level and on the level of main street borrowers.

The unwillingness to let work what worked after the war results in a continued environment of low demand, causing only the banker class to get rich while everyone else has trouble.

Trichet is just one example of the refusal of the ECB to bend with regard to the PIIGS nations. It is time to stop the speculation against sovereign debt. Just outlaw it.

Megan McArdle, editor of the Atlantic and who's articles frequent Business Insider, has maintained that it is immoral for people to walk away from their mortgages.

She then comments that the Great Depression was not helped by helping families. That of course is an absurd position, because without help for families, end demand would never improve.

Debt forgiveness is sometimes necessary or jobs programs or maybe a combination of both. Keep squeezing main street and you will see more multi generational living arrangements as people start to fight back against the bankers.

This will free up money for those who practice this cultural shift, but will hurt the banks' ability to lend. Frugality is good, but then the money supply shrinks. That is ok by me, if these folks get to keep more of it.

If swaps get in the way of forgiveness, it is the fault of the writers of unregulated bogus insurance, and that financial loss needs to be born by the swaps parties. McArdle fails to understand that banks have committed fraud with impunity in qualifying people for mortgages that they were unable to pay. There should be a law against that. But there will never be a law against easy money because that is how bankers make money. Megan needs to repudiate that behavior.

Can you imagine if there were a bunch of swaps written at the end of World War || so that Germany could not have received financial forgiveness? That would have been really, really bad. It is really really bad now that little Greece can't receive a jubilee. Greece is a little country with a ton of swaps that need to be snuffed out yesterday.

And McArdle needs to repudiate supply side economics in a demand destruction environment. Supply side percolation was the Hoover way, and this trickle down economics does not work. It only works for awhile, with easy money being the fuel, and that can ultimately destroy main street gains. McArdle needs to talk about that too. The way I read Megan, business never has enough money and never charges enough. My opinions of Megan may not be shared by her, but certainly her continued confusion is manifested by her ambivalence over supply side economics.

If Megan doesn't really like supply side economics why would she oppose FDR's demand side economics? If there is no demand, Megan, it is a no brainer. If you hate both supply and demand solutions what do you stand for Megan?

It is immoral for banks not to write down mortgages when the house is no longer worth the value of the original mortgage. It is pure greed on the part of the banks not to write down the mortgage. And it is pure greed on the part of banks to offer mortgages that are not likely to be repaid. They don't do it in France or Germany, although French and German banks do offer easy money to the PIIGS. That easy money debt should be forgiven as well. Can't France and Germany remember the past?

And, as for the United States, we have massive hoards of baby boomers nearing retirement age. Many of these people will default if they cannot get a fair price for their homes. Demand destruction caused by the banker induced easy money bubble and subsequent crash will cause many of these folks to simply give up and walk away. I suppose Megan McArdle would be advocating toughing it out, and she may even have approved of the eviction of the 101 year old lady. No mercy from the banks there. Gotta make a buck no matter if lack of end demand could crush the banks someday.

Just like the banks of today, and the central banks of today, McArdle doesn't have a jubilee bone in her body. She is a hard hearted woman, who speaks for banks it seems, more often than for humanity. See what a silver spoon will get you? Upper West Side blindness? Yes, it will get you absolutely no wisdom. None whatsoever. You grow up to love hedge funds and all manner of speculation as she wrote here:

"Let's look at the basic economics here. I agree that there is a "speculative premium" in the market--the price changes obviously do not simply reflect change in demand conditions or other new information. They're too volatile. That doesn't mean that this speculative premium is wrong. Speculation is not a synonym for "gambling"; it's a synonym for "guessing". The speculative premium reflects people guessing that the mismatch between supply and demand will be even greater in the future than it is now. Sometimes speculators are wrong, of course--"

Of course, speculators are wrong on purpose Megan, in order to keep prices high. I suppose that never occurred to you. Turns out Bernie Sanders proved it. You have forgotten the lesson applied at the end of WW2 as well, that speculation must be regulated and controlled. Otherwise, we are screwed as a nation and maybe as a world.

If anyone has any information that would enlighten me as to potential errors regarding what Megan McArdle stands for in the light of the European crisis facing the world, please comment.