3 thoughts on “Did The Fed Just Save The Eurozone?”
You can’t save the eurozone by cooking the books. The real problem is that several governments and many banks are insolvent. There needs to be an orderly default inside the eurozone.
Socialists have finally run out of other people’s money and they can’t print their way out of trouble anymore. Real reform now seems likely in Spain and Italy and hopefully Greece, although it is really to small too matter much. At long last real reform also appears to be underway in Poland, which was in much better shape to begin with and not in the hands of the socialists either. If this is successful, then it will soon put great pressure on France and Germany to finally reform their labour markets.
All this could be great news for the cause of liberty, but it is being undermined by people like Dvid Cameron and Daniel Hannan who are calling for more debasing of the currency. Shameful.
Alan McDonald made a comment which I find relevant.
this is really the bigger deal of, Crossing the Global Rubicon:
It is being broadly reported, as we speak, that the Obama administration will NOT allow more US taxpayer money to be used to bail-out European banks, as reported in this very USA Today article:
“And despite Obama’s promise to “do our part,” Carney said no U.S. taxpayers’ funds are needed, even if the International Monetary Fund is called on to help in any bailout.”
And YET, this key NYT front-business-page article this morning, says that the US FED WILL contribute millions/billions in ‘no interest’ money from the US FED window to European Banks:
Soooooo, “what we have here is a failure to communicate” … OBAMA’s BIG LIE.
Now maybe Obama won’t go beyond this point, but the doublespeak and actions aren’t encouraging.
It’s not technically a lie, since money printing is a stealth tax but not a literal tax. That’s probably part of the reason why it’s so popular. It’s also impossible to evade, which must be another important reason.
You can’t save the eurozone by cooking the books. The real problem is that several governments and many banks are insolvent. There needs to be an orderly default inside the eurozone.
Socialists have finally run out of other people’s money and they can’t print their way out of trouble anymore. Real reform now seems likely in Spain and Italy and hopefully Greece, although it is really to small too matter much. At long last real reform also appears to be underway in Poland, which was in much better shape to begin with and not in the hands of the socialists either. If this is successful, then it will soon put great pressure on France and Germany to finally reform their labour markets.
All this could be great news for the cause of liberty, but it is being undermined by people like Dvid Cameron and Daniel Hannan who are calling for more debasing of the currency. Shameful.
Alan McDonald made a comment which I find relevant.
Now maybe Obama won’t go beyond this point, but the doublespeak and actions aren’t encouraging.
It’s not technically a lie, since money printing is a stealth tax but not a literal tax. That’s probably part of the reason why it’s so popular. It’s also impossible to evade, which must be another important reason.