So, Europe proved yesterday with the uplift of the EFSF (European Financial Stability Fund) from its current base of €440bn to €1tr (boosting it by 127%), that it certainly has nowhere nearly reached European Peak Debt.
Well, as long as the Capital Markets buy this solution, can make a profit and move on to the next wave of Debt delusion, who are we mere citizens and commentators to criticise the massive instability Big Government and a BIGGER EU causes?
We argued back in 2009 that you cannot solve a “debt crisis with more debt” and this sentiment still rings true today. So when will they ever learn?
Yours forever indebted,
- Where will all the new money come from? (themarketsoul.com)
- Eurozone bail-out fund has to resort to buying its own debt (jhaines6.wordpress.com)
- UK’s public debt is about to exceed that of the US for the first time (leftfootforward.org)
- Everyone Is Starting To Realize The Size Of Britain’s Debt Crisis (businessinsider.com)
- ESM, EFSF, Or EB. Will Any Of It Work? (zerohedge.com)
- In The Meantime Iceland Is #Winning (zerohedge.com)
- We’re Not Getting Out of This in One Piece (lewrockwell.com)