Friday, October 28, 2011

Crisis, What Crisis?

I follow the latest news on the world economy with avid interest. I suppose it's a bit ironic because I have nothing therefore I have nothing to lose.
So we can all breathe a sigh of relief as the European debt crisis has been bailed out. The stock markets around the world are in bullish mode again, full of optimism.

So what was all the worry about?
If a sovereign debt problem can be easily solved by merely sourcing more money (and where that money comes from is the really really interesting part) then what crisis?

The Euro crisis has been resolved and Greece can now breathe easy. Hooray.
Q.Who's carrying the losses?
A. The banks
Q. Who's going to pay for the banks losses?
A. Taxpayers...maybe. Wait and see.

1 comment:

Jeannie said...

The rich and powerful have always dumped the burden on the commoners. Nothing new about that.