G-20 leaders show only weakness; bond markets rule - WSJ.com

G-20 leaders show only weakness; bond markets rule - WSJ.com

An interesting comment I just read in a report from UBS on Portugal pointed out that a lack of funds in the banking system is inhibiting most of the Portuguese businesses looked at from expanding (read: adding jobs).

So, instead of adding jobs or stimulating growth, the crowding out of private investment by the rapacious sovereigns would appear to be finding acknowledgment in investment reports.

And, gee whiz, it makes sense - unlike the borrow, borrow, borrow of government to support consumption (which, if not met by local businesses, will have to come from China, etc.).