Record one-day gains on stock markets rippled outwards from Brussels even as far as Wall Street after the EU agreed its emergency package to stabilize the euro.
Until the socialist countries of the EU do real government cutbacks, and curtail their massive entitlement spending, nothing will improve. No one can spend more than they earn, not even governments.
(kalifornia, 11 May 2010 16:56)
What would President Obama — or a future president — do if a situation like Greece's rears its ugly head in the U.S.?
Implement a strict austerity policy? Cut spending dramatically and raise taxes accordingly? Commit political suicide?
Nothing of the sort.They will do what Bernake has been doing recently-print money.
This is what Ben Bernanke said during a speech before the National Economists Club in Washington, D.C., on November 21, 2002:
"The U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost."
Thus the tripling of dollars in circulation in the last two years.
However, i would have to add a qualification on the above.
When the time does comes, governments all over the world will shift their printing presses into high gear to alleviate the pressure coming from decades of living beyond their means. That's why in the longer term I expect the bond markets to crumble.
Well, it was short lived. The market is down today. I think informed investors know that gigantic EU aid package is just a large bandage, and that the EU will start bleeding again. Until the socialist countries of the EU do real government cutbacks, and curtail their massive entitlement spending, nothing will improve. No one can spend more than they earn, not even governments.
Until the socialist countries of the EU do real government cutbacks, and curtail their massive entitlement spending, nothing will improve. No one can spend more than they earn, not even governments.
(kalifornia, 11 May 2010 16:56)
What would President Obama — or a future president — do if a situation like Greece's rears its ugly head in the U.S.?
Implement a strict austerity policy? Cut spending dramatically and raise taxes accordingly? Commit political suicide?
Nothing of the sort.They will do what Bernake has been doing recently-print money.
This is what Ben Bernanke said during a speech before the National Economists Club in Washington, D.C., on November 21, 2002:
"The U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost."
Thus the tripling of dollars in circulation in the last two years.
However, i would have to add a qualification on the above.
When the time does comes, governments all over the world will shift their printing presses into high gear to alleviate the pressure coming from decades of living beyond their means. That's why in the longer term I expect the bond markets to crumble.
Well, it was short lived. The market is down today. I think informed investors know that gigantic EU aid package is just a large bandage, and that the EU will start bleeding again. Until the socialist countries of the EU do real government cutbacks, and curtail their massive entitlement spending, nothing will improve. No one can spend more than they earn, not even governments.
Well, it was short lived. The market is down today. I think informed investors know that gigantic EU aid package is just a large bandage, and that the EU will start bleeding again. Until the socialist countries of the EU do real government cutbacks, and curtail their massive entitlement spending, nothing will improve. No one can spend more than they earn, not even governments.
Until the socialist countries of the EU do real government cutbacks, and curtail their massive entitlement spending, nothing will improve. No one can spend more than they earn, not even governments.
(kalifornia, 11 May 2010 16:56)
What would President Obama — or a future president — do if a situation like Greece's rears its ugly head in the U.S.?
Implement a strict austerity policy? Cut spending dramatically and raise taxes accordingly? Commit political suicide?
Nothing of the sort.They will do what Bernake has been doing recently-print money.
This is what Ben Bernanke said during a speech before the National Economists Club in Washington, D.C., on November 21, 2002:
"The U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost."
Thus the tripling of dollars in circulation in the last two years.
However, i would have to add a qualification on the above.
When the time does comes, governments all over the world will shift their printing presses into high gear to alleviate the pressure coming from decades of living beyond their means. That's why in the longer term I expect the bond markets to crumble.
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