HEARD ON THE STREET: Banks' Not-So-Safe Government Bonds - WSJ.com

HEARD ON THE STREET: Banks' Not-So-Safe Government Bonds - WSJ.com

Clearly the price of gold is showing that governments aren't to be trusted. And, it's not just the governments - it's the citizens themselves. They know they don't want any benefits cut and they want to raise taxes on the minorities in their population - i.e. those with good jobs, good pay and businesses (esp. business owners).

Thus, the cards are stacked against economic growth. The EU on Monday held a panel (broadcast on Bloomberg) with Barroso, et. al. talking about wanting "sustainable growth" and realizing that "the European social model" doesn't work unless there is growth to pay the costs.

Did we hear anything about reducing taxes or regulatory burdens on those who might like to start a business in Europe? No.

Did we see in the WSJ that 700 small business owners were this week complaining about new EU regulations that will hurt startups and small growing businesses? Yes.

Etc.

(As the Greek school teacher (female, aged about 50) said when interviewed last week about the crisis faced by her country (paraphrasing) "Well, I worked for 25 years, I deserve my retirement [now]....Well, my neighbor has a swimming pool and I don't. Is that fair?", etc.)

With this kind of 'fairness' uppermost in liberal consciousnesses, is it likely that fiscal and regulatory changes can or will be made to allow economies to grow?

This article on the risk of sovereign debt is right on the money!