I do not agree at all with modern Keynesians who lacked the restraint of Keynes.  Deficits are supposed to be temporary not structural.  Loose monetary policy is supposed to be temporary, not lingering.

Many policies can “work” when governments have the capacity to take on more debt without harm.  We are past that point now.  Additional debt builds up a larger problem, that will result in a greater crisis later. Emphasis Added.

If you care about government policy and the economy read the whole article:

The Aleph Blog » Blog Archive » Stagflation-Plus.

My view of unions is that they slowly kill whomever they serve. Industries with high unionization die eventually. Countries that support unions die slowly as well.

Unions introduce inflexibility into the economic process which has a huge cost, eventually. Greece is controlled by its unions. They are willing to seek their own prosperity even if it leads to the destruction of the nation. They don’t think the nation will be destroyed, but think that there are parties in power that hold back value from them, and they must be opposed, deluded fools that the unions are.

via The Aleph Blog » Blog Archive » The Lack of Cultural Agreement Roars, the Eurozone Mews.