I'm convinced that the U.S. fiscal situation is also holding back the European economy.
Incredible comment - gives thrust to the “eurobond” argument, which I warned about 13 years ago, still quite wet behind the ears.
lol
they finally found someone else to blame besides Bush for their failures!
Funny, sending millions of our jobs overseas, is never mentioned as problematic.
>> The euro is breaking down and Europe’s debt crisis is holding back the US economy
Thank You, Mr. Bubble-Head, for reminding us of the role *you* played in this mess.
Alan the fossil is shilling for 0bama. Next he’ll blame locusts..
LOCUSTS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
I think one economist has referred to what is happening as finding its intrinsic value.
Many governments have issued more bonds, i.e., borrowed more, relative to their gdp, than is practical and wise. The ability of these governments to pay back the principal through taxation, therefore, is only realistic if they contract the scope of their government and thereby promote private enterprise growth. This will halt the accumulation of new debt and allow for healthy tax revenue. But as government spending and regulation continue unabated, this is keeping the debt pile growing, and the payoff point - even with correction actions being taken - is being pushed out ever farther.
These bonds are owned as assets by the private sector. If the principal can’t be repaid, and all these governments are merely issuing new debt to pay old, that is the definition of a ponzi scheme.
Borrow and spend must stop soon.