r2i forum

Greece is burning (literally!) to get a financial aid. The Feds just print it! Doesn't seem fair, but thats the advantage with being the "world's reserve currency". The party can go on for some more time!
http://news.yahoo.com/s/ap/20100502/ap_on_bi_ge/eu_greece_financial_crisis

Who was it that famously said "its our currency, but your problem?"

John Connally.

http://en.wikipedia.org/wiki/John_Connally

A counterfeiter working from a penthouse overlooking the Fed building!!
http://www.latimes.com/news/local/la-me-0430-federal-reserve-20100430,0,5588949.story

One of the comments on the page:
A counterfeiter counterfeiting yards from the REAL counterfeiters. Ironic to say the least.

300,000 jobs in UK public sector face the axe

http://www.timesonline.co.uk/tol/news/politics/article7134040.ece

I have always maintained that stimulus & bailouts are a bad idea as they do nothing but increase govt. debt. If the govt is sane, it ends up balancing its budget (reducing expense, increasing taxes - all of which are unpopular with the electorate). Other option is to keep the printing press running till there is a currency collapse! (but that rule doesn't seem to apply to US & Helicopter Ben, yet!!)

http://www.timesonline.co.uk/tol/news/politics/article7144906.ece

There is a huge amount of debt that has got to be dealt with. Crossing our fingers, waiting for growth and hoping it will go away is simply not an answer

The country has got an overdraft. The interest on that overdraft is swallowing up things that the nation should otherwise be spending money on

http://www.bloomberg.com/apps/news?pid=20601087&sid=aRrYIf3s6Fg4&pos=5

German Chancellor Angela Merkel said economic growth can’t come at the expense of reductions in budget deficits, hinting at differences with the U.S. over the pace of paring public spending.

The German government “believes we must not achieve growth at the expense of high deficits,” Merkel told a news conference.


Savings not spending creates investments, which create lasting growth! Good to see that sanity is prevailing at least in some quarters!! Geithner opposed these measures at G20, but was apparently ignored! Although this will cause a lot of short term pain, I would be willing to bet on the Euro (or if it fails to hold together, the Deutsche mark) 3-5 years down the line....Inspite of all the lame talk, US may be forced to follow the same path....But before that I expect a stimulus II before end of the year!!