When it comes to the euro crisis, sometimes, the simplest of notions carries wisdom far beyond the complex ideas of geniuses. John Mauldin writing at Business Insider: As I keep pointing out, there are no easy choices left. Some countries must choose between difficult and very bad, and others are faced with either disaster or calamity. Greece simply gets to choose what it wants to be the cause of a depression. Long and slow or fast and deep? Choose wisely. Dear Paul Krugman: We cannot grow our way out of our deficit crisis. This is from a paper quoted by Mauldin at length: The best option for improving woeful debt-to-GDP ratios is to grow GDP fast. Historically, this has rarely been achieved, although it can be done-for example, in the U.K. after the Napoleonic Wars and in Indonesia after the 1997/1998 Asia crisis (although Indonesian debt levels were nowhere near contemporary highs in the West). Attacking today's debt mountain would require reforming labor markets or investing...(Read Full Post)