IMF Floats Bond-Buying Proposal in Europe - WSJ.com
All the socialist countries (including the US) appear like the family living on credit cards - and now, suddenly, market forces want to adjust interest rates.
It would seem as though there is a catch 22. In other words, if the economy is in the tank, the rates stay low but taxes and growth can't compensate for social spending. If the economy rebounds, then interest rates will rise and the cost of previous social spending will be unpayable.
The outcome in either case would appear to be less than sanguine.
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