The German Bundestag voted last week to expand the European fund established last year to bail out Greece—or, rather, Greece’s creditors. In doing so, it also moved the euro zone one step further away from the bloc’s founding principle that its members would share a currency, but be responsible for their own fiscal policies within that currency zone. *** In the current... Read more
Archive for the ‘Debt’ Category
Who Would Bail Out the European Central Bank?
August 31 | Posted by mrossol | American Thought, Debt, EconomicsAnd who is talking about this? ============== By BENN STEIL AND PAUL SWARTZ Week after week, market watchers hang on the German chancellor’s every pronouncement about the euro-zone’s debt travails, so one might be forgiven for thinking that Germany has been propping up the whole troubled enterprise. In fact, the European Central Bank has for the past 15 months been manning the front... Read more
Stocks Hit by Obama Oration – WSJ.com
August 10 | Posted by mrossol | Debt, Liberal Press, Obama, The LeftThe Left cannot see it… ================ By JAMES FREEMAN Ever since Watergate, Washingtonians have responded to every political scandal by saying that “It’s not the crime; it’s the cover-up.” Perhaps they should develop a corollary for budget disasters: “It’s not the downgrade; it’s the White House reaction.” Stock-market historians may soon be debating which did more to drive yesterday’s sell-off: the Friday decision of... Read more
An Opportunity For Major Reform, If We Can Take It
July 27 | Posted by mrossol | Debt, Economics, ObamaCare, Party PoliticsSome thoughts on a July 19, WSJ article… =================== Emil W. Henry Jr.’s “America’s Debt-Ceiling Opportunity” (op-ed, July 19) clearly states what should be obvious to all: The federal government is extremely poorly run and ignores the basic rules of business economics and accounting. In fact, it often crosses the line into what would be criminal for the rest of us. As an... Read more
Damage Done
July 26 | Posted by mrossol | Debt, Economics, Obama, US DebtThoughts of John Melloy, Executive Producer, Fast Money: (7/25/11) In the eyes of China, the biggest foreign holder of Treasuries, the damage to this nation’s reputation as steward of the world’s safest asset may already be done, even if a last-minute agreement to raise the debt ceiling is hatched. The partisan infighting alone that’s brought the decision to the brink of... Read more
