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| Europe |
| What really caused the eurozone crisis? |
| 2011-12-23 |
| Posted by:tipper |
| #4 Morgan Stanley Chase Goldman Sachs The City of London Barney Frank Fannie Mae Freddie Mac The Greek government took a lot of advice from Goldman Sachs on how to refinance their debt...hmmm I'm giving Georgie Soros a pass on this one, he's too smart for most of the financial and monetary policy silliness and stupidity that brought us to this point. He's not pulling the levers on this one. |
| Posted by: Bill Clinton 2011-12-23 10:52 |
| #3 why Debt? It temporarily (net negative with interest payments) repairs the damage caused by taxes on comparative advantage. Of course you need exponential amounts of debt (and thus constantly lowering bank reserve requirements) to do this. Of course at some point you'll find a systematic banking system default... So the real cause? Progressive Taxation. |
| Posted by: Bright Pebbles 2011-12-23 09:15 |
| #2 They essentially blame private debt not gov't debt. The one thing I didn't notice anyone talk about is why letting individuals work there way out of their own mess. This seems just another iteration of the "privatize profit, socialize debt" mentality that mostly just screws the productive. |
| Posted by: AlanC 2011-12-23 08:22 |
| #1 I know who is going to be blamed. |
| Posted by: g(r)omgoru 2011-12-23 08:15 |