LET'S NOT BE SO QUICK TO FEEL DOLLAR SUPERIOR: European Crises Preclude Reserve Status for Euro - Barrons.com
It would seem as though the global (read: Europe/US) problem is profligate government spending abetted by the banks (lest we say they should be investing their depositors' money instead of supporting profligate governments).
The banks are apparently beyond apoplectic (lest we say starting to recognize the errors of their ways - but, as the old saying goes, "in for a ounce, in for a pound" (or something like that)).
They are looking for the governments they've helped to bail themselves out - but, should the banks really be bailed out?
Isn't this just an impossible balloon?
Don't the US and many European countries really need to invest in competitive, productive jobs and societies?
Maybe there is no crunch-time pending, but as shown in the US by states like California - the US surely shouldn't be doing any gloating!
(Let's see if fiscal rectitude can start to be demonstrated in Washington. It's hard to believe the words have any meaning for Obama or Pelosi - other than with higher taxes driving down investment and job creation.)
Thursday, November 25, 2010
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