behindmyscreen

It’s actually quite deniable. Not being able to explain something doesn’t mean there are supernatural reasons for the unexplained.

No

This was the genius (or good luck) of Hamilton. Taking on the debts of the US states at the federal level prevented this problem when switching to a common currency at the formation of the US.

Improperly conceived is more accurate. A strong political union is important for a common currency. They should have stuck with free trade and visa free movement ( not permanent relocation) for the level of political union they have.

Are you saying Germany succeeded in economics where war had failed?

Yeah... everyone I talked at the time to said austerity is the wrong tactic.

Welcome to the debacle that was the United States Articles of Confederation.

Perhaps what the EU needed wasn’t a common primary currency but a common secondary currency that was used as a medium to convert currency between members.

Almost like MMT is real.

Which is crazy.... in the US, a developer from Nebraska is just as expensive as one from California for any given company.

The location of the company dictates the wages ( costs of living), not the source of the developer.... (unless we’re talking an H1B visa sham hire which isn’t the same as your situation)

That’s interesting. What’s the mechanism for that? Uninformed intuition would lead one to think there would not be a difference.

Yeah, it didn’t work for my wife :-(. We were hopeful.

Printing money was alway the job of private banking in the US. Bank notes were used in the 19th century but sucked because podunk bank’s note wasn’t accepted in NYC...the federal reserve fixed that by centralizing all bank note creation to a consortium of reserve banks.