May 142010
Joel Bowman of the Daily Reckoning opines on the European “fix:”
“This isn’t over yet, fellow reckoners. Not by a long shot. (As we were writing these words, in fact, news that the leader of Spain’s largest union will call a public sector strike was just coming across the wires.) We can’t wait to see what happens when the Spaniards line up for their “fair share” of the increasingly worthless bailout goop…and the Italians…and the…well, you’ve read this list before…and it ends at Uncle Sam’s doorstep.”
The madness that passes for governance amazes more with each passing day. It is difficult to determine whether the stronger suit of politicians is stupidity or cowardice. Both qualities appear in superabundance.
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Virtually every Western Democratic Government is insolvent.
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