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Choking on Debt
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
trumanfactor.com / By Peter Tchir / November 13, 2012
Many Names for the Same Problem
In the U.S. we talk about Fiscal Cliff and Debt Ceiling. In Greece it has come down to Grexit. Spain still goes by Spanish Bailout or Spanish Unbailout as the case may be. Italy is in denial and hasn’t made up a word. Belgium calls their debt problem Dexia. Ireland, where it is hard to understand the brogue describes it as Thieving Bankers. Japan has had it for so long it now is known as Normal. England has QE, austerity, and party called Labour that seems to have nothing to do with labor. Portugal’s debt problem is known as the Rodney Dangerfield as they get no respect in spite of putting the P in PIIGS.
Too Much Debt
Everywhere you look, countries have too much debt and are struggling with it. Countries without Central Banks that can buy their own debt might have to worry about it. Those countries that can buy their own debt, do. Remember when “Quantitative Easing” was an “unconventional” policy? It is now the norm. QE to the left of you, QE to the right of you, everywhere you look there is QE. Savings and balanced budgets have shifted to unconventional policy, and are on the cusp of being relegated to the status of myth or urban legend. Our children will have heard there was a time when investors bought bonds and governments tried to run prudent policy, but never having seen it, they will just humor us and pretend like it was true.
Thanks to BrotherJohnF
2012-11-14 17:02:49
Source: http://silveristhenew.com/2012/11/14/choking-on-debt/
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