I've been to Bari and this is not Shells, it is Orecchiette (the plural form of orecchietta, from orecchio (ear) + etto (small) is a variety of home-made pasta typical of Apulia, a region of southern Italy. Its name comes from its shape, which resembles a small ear.

The article linked above mentions Röpke and Eucken as champions of free market capitalism, so to speak. Ironically, Bernie Sanders is quite in line with many of Walter Eucken's core ideas. For instance, Eucken declared legal responsibility to be an absolute necessity for competition within a market economy. Meaning that under Eucken's notion of capitalism, US prisons would be filled to the brim with white collar criminals from Wall Street and just about every multinational corporation, including Volkswagen.

Ludwig Erhard, credited by many to be the main figure behind the German "Wirtschaftswunder" (nothing wonderous about it), postulated real wage growth in line with productivity and target inflation as an imperative for a working social market economy. Again, very much in line with Bernie Sanders. Maybe even to the left of Sanders. A 5% increase in productivity and a target inflation of 2% requires a wage increase of 7%, otherwise your economy will starve itself of the demand it requires to absorb its increased production. You can steal it from foreign countries, like Germany's been doing for more than a decade now, but that kind of parasitic behaviour is generally frowned upon. Minimum wage in the US according to Erhard would be what now, $25-$30? So much for Sanders' $15...

Sennholz further mentions the CDU as a counterweight to the SPD. Well, the CDU's "Ahlener Programm" in 1947 declared that both marxism and capitalism failed the German people. In fact, it put significant blame for Germany's descent into fascism at the feet of the capitalistic system and called for a complete restart with focus NOT on the pursuit of profit and power, but the well-being of the people. They called for socialism with Christian responsibility, later watered down and known as social market economy or Rhine capitalism.

As for the economic policies conducted by the occupation forces: German industry, and large corporations in particular, were shackled for the role they played during the war. If you work tens of thousands of slaves to their death, you lose your right to... well, anything. If they had stripped IG Farben, Krupp and the likes down to the very bone, nobody could have complained. No economic liberties for the suppliers behind a genocide.

Next in line, the comparison with Germany's European neighbours. Sennholz wrote that piece in '55, so you can't really blame him for it. Italy had more growth from '58 onwards, France had more growth than its devastated neighbour from '62 onwards. The third Axis power, Japan, had significantly more growth from '58 onwards.

Why did some European and Asian countries grew much more rapidly than the US? Fair Deal? Nope, Bretton-Woods. Semi-fixed exchange rates caused the Deutsche Mark and the Yen to be ridiculously undervalued compared to the Dollar, thus increasing German and Japanese competitiveness at the cost of the US. Stable trade relations created by the semi-fixed exchange rates plus the highly expansive monetary policy in the US – that's what boosted Germany's economy most of all. Sort of like China over the last two decades, except we were needed as a bulwark against the evil, evil Commies, so the US kept going full throttle.

Our glorious policians tried the same policies (Adenauer/Erhard) in East Germany after reunification, even though global conditions were vastly different, and the result is the mess we now have over there. The entire industry was burned to the ground when they set the exchange rate too high, thus completely destroying what little competitiveness remained. Two trillion DM later, still no improvement. A job well done, truly.

Anyway, if anything, Bernie Sanders' program is closer to post-war German social market economic principles than to the East-German bastard of socialism, state capitalism and planned economy imposed by an autocratic system. However, even that messed up system produced significantly less poverty, both in quality and quantity, than the current US corporatocracy. No homelessness, no starvation, proper healthcare for everyone – reality in the German Democratic Republic (East Germany). And despite the fact that they were used as cheap labour for western corporations, no less. My first Ikea shelf was produced by our oppressed brothers and sisters in the East. The Wall "protected" the West from cheap labour while letting goods pass right through – splendid membrane, that one.

PS: Since that article was written in '55, I have to mention one of my city's most famous citizens: Otto Brenner. He was elected head of the IG Metal, this country's most influential trade union, in 1956 after having shared the office since 1952. The policies he fought for, and pushed through, during his 16 years in charge of the union are very much in line with what Sanders is campaigning for.

Nope, not true.
Almost every international airport I've been to in the past 10 years (NZ, Australia, Germany, Italy, Ireland, Singapore, Japan, New Caledonia, Dubai, UAE, USA, Mexico) has the same checks for fluids above 100ml in a little clear plastic bag, the same "remove your laptop, etc".

At least most of them have dropped the retarded "take off your shoes" bullshit.

3 things, I may have mixed them a bit.

1 - past experience specifically with muslim migrants (some may have been refugees) in Europe - overall not great, mostly they consider our social system and political correctness as signs of weakness. They consider themselves superior, the first generation may be grateful for a better life than back home but the second and third generations feel superior to non-muslims (especially jews and atheists, but also christians) and entitled to benefits while hating the secular state. Will the current and future waves accomodate better? This has nothing to do with our imperative to help those in need, it is a practical problem. Also not racist - although I do admit racism and xenophobia are a major problem in many parts of Europe and trouble me very much in my own country. More so than the Vietnamese or Ukrainians or people from the Balkans "these people" organize in clans and tribes and will try to impose their view of the world on us, who organise in tiny families and on facebook. Albanian thugs are well organised but they dont hold the view that everyone else should be an Albanian thug too.

2 - current wave of migrants and refugees - lets assume we are talking only about real Syrians boarding boats in Turkey trying to reach Greek islands and not people from all over north africa trying to reach Italy or anyone else trying to reach the EU (possibly pretending to be Syrian). So we have this exemplary Syrian family which has run away from a war to Turkey. They are safe there, only they have to either stay for a couple of years in a refugee camp before they can try to find work or they have to survive in a grey economy sort of like Mexicans in the USA. They know that if they dont apply for asylum in Turkey and manage to set foot on EU soil they can ask for asylum there and be treated better than in Turkey. So these boat people are actually not running from war to asylum but rather from one asylum to another. They make sure not to stop in Greece or Croatia or Austria or Hungary but head for Germany or Sweden. Mostly I believe they have no idea of political geography but they have mobile phones and friends who have already made the journey and know how to milk the local system. So for purposes of compassion they are refugees and totally need our help but from a clinically economic (yes, materialistic) point of view they are very much migrants. Migrants we feel obliged to help because they are sort of refugees too.

3 - the mass and speed of the exodus means we are stretched to accomodate them and they will later start to passionately hate us because Europe will not be the heaven they expected it to be.
A few thousand refugees every year are no big deal even for a small EU state. Hundreds of thousands will be very difficult to take care of in the entire union. Inviting more is just irresponsible.

The good news is that the real Syrian refugees who make it to Europe will probably be the more resourceful, better educated part of the current wave of incoming people and will be able to take care of themselves fairly quickly by my estimate. Also they are mostly variants of Shia - the less orthodox branch of muslims. I am worried more about future waves than the current one.

Maybe we have messed up a bit but we need to learn from our mistakes, and even Germany is now guarding its borders. It would be better if we were able to guard the Shengen perimeter.
Then if we wanted to save more refugees we could send trains or planes to pick them up in Turkey or Jemen. You know, set up an EU consulate there so they could directly apply for asylum in the EU country of their picking. But we have to make a conscious decision first - how many people from the desolate and failing parts of the world do we want to save over a given time period so that we dont fail ourselves. Are we failing? Ask the jewish families who used to live in Malmo until recently.

Awesome! I play well enough to have fun, but I've got *nothing* on any of these guys.

It was especially fun to see/recognize some of my favorites from YouTube, like Hyunmo Kim (the S. Korean dude in the French Maid's outfit) who has been on the sift for a slap/pop cover of Gangnam Style, Davide Biale (Italy) who has a great YouTube channel with lessons and covers/medleys of videogames and other media on bass, etc.

Only person missing was this dude:
(Game of Thrones theme cover via tapping)

Just the balsamic and olive oil is easier yet and considerably better in my opinion. The trick is to buy very good vinegar and oil. It's okay to get the expensive stuff because it lasts forever. I'm still on the same pint of balsamic vinegar I brought back from Italy almost five years ago.

While I am 100% on board with the "carbon bad, not carbon good, global warming = real, made by man and a real prick of a problem" message, the biggest fault made by people like Maher etc in prosecuting their case to the "sceptics" is reliance on bad information.

For example, the sums have been done on solar and wind, and generally speaking, wind is only borderline viable for supporting a society (and that's only if you don't add the cost of some form of buffering/storage). Solar, particularly home roof grade, is fucking awful, and essentially a waste of time compared to tracking mass production arrays. In terms of energy to build/install/maintain/remove, it barely pays for itself. Solar thermal is also more efficient (helios arrays etc), but the two best bang for buck technologies for producing massive amounts of power at a very low carbon cost are nuclear and hydro.

And they are two technologies that people seem to want to get rid of. Germany shuttered it's nuke capability after Fukushima (and added more coal capacity). Italy's solar market has fallen in a heap, France is almost carbon neutral only because it is predominately nuke powered. One of the original climate change warriors, Dr. James Hansen of Nasa, is fully supportive of nuclear power, and get's constantly lambasted by green types because they do not want nuclear power to play a part.

Refutation of solid science and willful ignorance is not solely the province of people who deny climate change, and it's no less deplorable.

Holy shit man, that's amazing. Dude is just so relaxed.. Think I'd die at the first obstacle!

Currently chilling in Italy eating amazing food and drinking stellar wine...it's awesome, but feel so fat and lazy...time to get back to NZ and hit some mountains!

It's all up to Francois Hollande now. Matteo Renzi is reasonably angry at how Germany is handling this shit, and France + Italy might just be enough to rein in the hardliners in Germany/Finland. If Hollande doesn't go into open opposition against Schäuble et al tonight, Grexit becomes inevitable.

Luckily though, my neighbours found some fitting stone plates at an abandoned(?) house to finally finish a spot in their backyard. I'll be over there the rest of the afternoon, pounding those plates into place with a rubber mallet.

Edit: Also, fuck the social democrats for turning on the people again.

Pure quality by John, as usual.

There are a few points I'd like to add, in order of appearance.

5:10 – Greek default or Grexit could be manageable by the rest of the EZ, economically. Italy looks a bit shaky and Spain still looks like shit, so things could spiral out of control, but chances would be better now than they were in, say, 2010.

However, Grexit would be a political nightmare. EZ membership is supposed to be irreversible, so Grexit would reduce the Euro from a common currency to a peg when viewed from the outside. That's open season on the rest of the PIIGS. If Greek then rebounds, other people might very well decide to give Germany the finger and leave as well. If Greece fails, you have a NATO member turn into a failed state, which not only gives NATO the shivers, but also buries any notion of solidarity within the EU. This union survives because of the promises it makes, which include increasing standards of living and solidarity among different peoples. Without it, we're left with... what exactly?

And nevermind the humanitarian catastrophe taking part in Greece. We've conditioned ourselves to block out the pain and suffering of people in Africa. We even manage to shrug at the cesspool of corruption that is Kosovo. But if we do that to Greece as well, what little moral authority Europe might still have left would be gone then.

5:32 – The last payment Greece received was in August, long before Syriza took over. The previous government was in disagreement with the Troika and therefore transfers were frozen.

5:57 – Troika payments are required to service previous debt obligations. They are separate from what the Greek banks require to maintain their liquidity. That would be Emergency Liquidiy Assistance (ELA) from the ECB, which is a different thing entirely, even though it comes from a member of the Troika.

The ECB is bound by law to maintain and ensure the stability of the banking system(s) within the EZ. If a bank runs into liquidity problems, support is provided by the national bank of the respective country, which funnels funds from the ECB to the troubled bank. That's ELA, and a limit on ELA is a limit on the amount of funds that banks can draw from through this process. If an illiquid bank is cut off from ELA, it goes belly up. Bad idea.

Some argue that the ECB should not provide ELA to those Greek banks anymore, since they are insolvent, and ECB rules forbid ELA to insolvent banks. But as Varoufakis said, even the ECB's own Single Supervisory Mechanism (SSM) department, which is the new banking oversight, declares the four large Greek banks to be solvent. So there is no reason for the ECB to cut ELA to Greek banks. It's all political, and the ECB is designed to be outside of politics. That's also a reason why its membership in the Troika is so controversial.

The political argument for cutting off ELA is that Germany et al. are on the hook for the total amount should Greece itself go belly up. Somewhere along the line, someone made the glorious decision to install the ECB as a currency issuer without providing it with the attributes of a regular currency issuer. If the Bank of Japan or the Bank of England racks up losses, noone cares. They issue their own currency, they cannot go bankrupt, whatever debt they have in their books is irrelevant, for this discussion anyways. But the ECB has to balance its books, it has to receive funds from its members to balance losses, and in proportion to their economic size.

They made sure that politicians can scare the demos by pointing out how they have to foot the bill for this shit, even though it's the one entity where debt truly doesn't matter at all.

By the way, the funds that Greece is hoping to acquire are meant, primarily, for two purposes: making debt payments and to provide financial room to convert ECB(?) debt into EFSF debt (4% interest down to 1%). That's all. No spending.

6:54 – "Printing" money is generating demand out of thin air. There is a shortage of demand throughout the entire continent. So yeah, if the folks at the ECB could type in a few numbers, that would be swell.

Even Germany has a shortage of demand. We are merely hiding it behind the €200b+ of demand that we steal from other countries, i.e. our current account surplus. But the infrastructure and investment spending over here is at all time lows. We'd need an additional €200b+ just to get the infrastructure back to the state it was in a decade ago.

There is no productivity growth in Europe. The UK actually lost a lot of productivity by its introduction of zero hour jobs and other forms of slavery. Without sufficient demand, there is no need to improve production capacities – they can't even sell what they could produce right now.

First of all, Flassbeck is the only(!) prominent economist in Germany arguing strictly against the madness of austerity. But he's living in the border region between France and Switzerland, so he's a European more than a German.

Among all the economic think tanks in Germany, only the union-sponsored IMK makes a credible case against this madness. Everyone else is more or less in line with the neoclassic perspective. Not a Keynesian in sight, much less a post-Keynesian group.

But now to the meat of the issue. There will be no major political shift in Germany in the near future. As Flassbeck stated, only a single party opposes the financial inquisition commonly known as the Troika. Unfortunatly, it's the socialists, and despite overwhelmingly popular policies, they are still an absolute no-go for large swaths of the demos thanks to the authoritarian regime in East Germany. Sucks, but it is what it is.

So it's up to the French people once again to save the continent from itself. Noone else has the balls or the influence to put an end to this misguided union. How likely is it for the French government to openly challenge German hegemony soon? I wouldn't bet on it. Which means the Greeks are fuuuucked².

In any case, what would it take for Greece to stabilise? And by stabilise I'm talking about a return to a manageable level of unemployment, a working healthcare system and social safety net. A conservative guesstimate would be a public deficit of ~10% of GDP for at least 5 straight years. Alternatively, the EIB would have to prop up Greece with €50b a year for the same number of years. To get a working bureaucracy, to undo four decades of nepotism, Greece would basically need a generation to reestablish itself as a state – and it would require appropriate financing.

Now remember which of Syriza's demands is painted as most controversial right now: debt restructuring. Debt restructuring, while neccessary at some point, is entirely pointless as long as the fiscal policy remains contractionary. Greece needs austerity to stop, right the fuck now. Greece needs to provide income-generating jobs for its people. All the talk about debt is utterly pointless, because at 25% unemployment, we're looking at permanent damage in every way imaginable. The social toll alone should be completely unacceptable within Europe if we truly gave two shits about human dignity.

So, even if Syriza get their way tomorrow, Greece would still be flushed down the shitter. Syriza's proposal is contractionary. Any primary surplus in this situation is contractionary.

Greece is done within the Euro. The use of a foreign currency makes it impossible to use appropriate fiscal policy on their own. Unfortunatly, but also intentionally, the currency issuer, the ECB, is placed outside the democratic control of the European Parliament, or any national parliament for that matter. Fiscal policy within the EZ was taken out of the control of our elected representatives to ensure that the neoclassic/neoliberal approach was irrevocably built into the system. We can thank Germany for that, by the way.

There is a shortage of spending in Greece. There is a shortage of spending in Spain. There is a shortage of spending in Portugal, Ireland, Italy, France. There is a shortage of spending in Germany, for fuck's sake. Put the ECB under control of the EP, add full employment (2-3% unemployment) to its mandate, and have them finance the appropriate programs at the national level. The output gap in Europe is so massive, the un(der)employment so vast, they could spend a trillion Euros and inflation would still not reach the agreed upon target value of 2%.

All it would take to change the rules is consent from every national parliament in the union. Might as well go skinny-dipping instead.

it took place in Maranello, Italy.

https://en.wikipedia.org/wiki/Maranello

Just went with the YT video description: "Happened in Italy, Venice."

A little history can go a long way. They were in the fight by choice 3 years before we were dragged into action, and over 15% of their nation enlisted, over 10% of their nation fought overseas, a higher percentage than the US for much longer. We hardly protected them from the Japanese, they protected and hosted US.

http://en.wikipedia.org/wiki/Military_history_of_New_Zealand_during_World_War_II
When Japan entered the war in December 1941, the New Zealand Government raised another expeditionary force, known as the 2nd N.Z.E.F. In the Pacific, or 2nd N.Z.E.F. (I.P.), for service with the Allied Pacific Ocean Areas command. This force supplemented existing garrison troops in the South Pacific. The main fighting formation of the 2nd N.Z.E.F. (I.P.) comprised the New Zealand 3rd Division. However, the 3rd Division never fought as a formation; its component brigades became involved in semi-independent actions as part of the Allied forces in the Solomons, Treasury Islands and Green Island.
Eventually, American formations replaced the New Zealand army units in the Pacific, which released personnel for service with the 2nd Division in Italy, or to cover shortages in the civilian labour-force. New Zealand Air Force squadrons and Navy units contributed to the Allied island-hopping campaign.

http://www.nzhistory.net.nz/war/us-forces-in-new-zealand
"The American soldier found himself ‘deep in the heart of the South Seas’, in the words of his army-issue pocket guide. He usually came here either before or immediately after experiencing the horror of war on a Pacific island, and he found a land of milk and honey (literally), of caring mothers and ‘pretty girls’."
"So the ‘American invasion’ (as New Zealanders affectionately called it) brought a considerable clash of cultures. "

Sorry to inconvenience your feelings and expressions of superiority with some facts.