5.22.2011

Stupid Euros bought Greek debt, now surprised it can't be paid back

So they'll either have to let Greece default, hammering lots of French and German banks that hold Greek debt, or buy even more bad Greek debt to let Greece dig itself deeper into a hole. When they faced the same choice last year, they chose the digging.

Read all about it at John Mauldin.

1 comment:

SarahB said...

Does anyone actually study MATH anymore?

More stuff that broke around 1971

We've noted before  that a bunch of economic trends turned bad when Nixon closed the gold window and we launched into the current pure f...