It’s the public sector debt that endangers these economies, and it’s squeezing out the private sector which possesses the only means of financing the debt. I’m sure Paul Krugman will opine that it’s OK, but all other economists with real brains who live on a planet with a blue sky know it’s not going to end well.
posted on 11/28/2012 5:47:47 AM PST
("The people who count the votes decide everything." -Joseph Stalin)
Get ready for a discussion of “public option banks”
Eurozone bank loans to the private sector declined by 0.7per cent in October compared with the level in the same period last year after already shrinking by 0.9per cent the previous month, the European Central Bank said in a statement.
Seems like a very small drop... could be any number of reasons - fewer applications, fewer qualified borrowers. Without an analysis of why the loans decreased this is just drama.
posted on 11/28/2012 8:32:48 AM PST
(Do not argue with an idiot. He will drag you down to his level and beat you with experience.)
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