Exactly what they were trying to avoid is happening, the 'contagion' has spread to Italy.
But then, the 'crisis' was never really about Greece, but about the massive debt accumulated by socialists in pursuit of their EUropean fantasy.
The Italian-German 10yr bond spread and a look at Fwench banks are two very good indicators that the half-life of these phoney 'solutions' shrinks with each effort to deny the reality of the true problem: too. much. debt.
- And going further into debt to solve a debt problem isn't any kind of a 'solution' at all...
Calling it a 'crisis' does not do the situation justice. It is a PROBLEM. A problem of too much debt.
If the x-axis of the first graph were stretched out to 50 feet, the curve would hardly rise. It's so easy to manipulate graphs.
ReplyDeleteReminds me of the man who drowned in a river that averaged three feet deep.