It works great for the elite. Buy when there is blood in the streets.

Nice peer review!

Good comment.

Actually, it seems they do not actually peer review papers accepted for publication in the proceedings of the annual meeting of the American Economic Association, which is where Reinhart and Rogoff presented their paper. Anyway, that is how it appears based on this:

http://www.aeaweb.org/aer/pandp_faq.php

At least, not a peer review as they do for refereed journals.

I wonder if they ever submitted their paper for publication in a proper refereed journal, and if it was rejected? We would never know, unless they told us.

The Russian mob all got their money out of the Cyprus banks in time before the banksters robbed them, which of course helped the collapse to bring in the austerity. Some opened a joint that Catered To Wall Streeters, Oligarchs, And Hollywood Stars but were busted buy the FBI.
Read more: http://www.businessinsider.com/fbi-busts......QzZi0XTI

Yes. Ireland has. At the start of the crisis, tax revenues collapsed from over 50 billion to 35 billion. The government is 3.5 years into a 5 year programme to take 15 billion of spending out of the economy, which will amount to a 30% cut. So far they have achieved abou 10-11 billion in savings. And commited a generation or two of its populace to austerity measures in order to socialise the debts of banks and unguaranteed senior bondholders. needless to say, the measures are deeply unpopular.

Greek austerity led to more death, disease:

WASHINGTON: When Greece's economy took a plunge, murders and disease rates soared, a study that suggests the impact of austerity cuts may be worse than expected reveals.

Read more: http://www.smh.com.au/world/greek-auster......R57abSTU

That is just what the elite want. System going well. One the Russian mob just bought a greek island for a 100 million.

Daughter of Russian billionaire buys idyllic Greek island where Aristotle Onassis married Jackie Kennedy - Mail