Comments on: Notes From Underground: MAY 6 — A Flash Crash For the European Political Elite

By: Chickenpookie

Chickenpookie — Mon, 07 May 2012 18:54:00 +0000

The basic problem is there’s no gold standard and special interest groups have managed to infiltrate government to the point government no longer serves the best interests of the people but instead, the interests of groups who made bad investment choices and have the means to bribe government officials.

I wouldn’t vote for austerity either, if it meant bailouts for special interest groups who’s goal it is to game the system.

By: Breakfast Links | Points and Figures

Breakfast Links | Points and Figures — Mon, 07 May 2012 10:17:45 +0000

[...] on Europe. The beneficiary of the outcome, Gold. [...]

By: asherz

asherz — Mon, 07 May 2012 02:44:16 +0000

The choices are mistakenly thought to be austerity vs. growth (by ill conceived monetary and fiscal policies) , Keynesinism vs. deleveraging. Buying Greek, Spanish and Portuguese bonds from Norwegian hedge funds and shifting the risk to governments and tax payers from some investors who made bad decisions, paid for by the printing press, will not solve the basic problem. Keynesianism didn’t work 75 years ago and it won’t work now. The problem is too much debt relative to production and deleveraging is going to happen sooner, or as central bankers in the 21st century prefer, later. Adding to debt will not sove a problem created by debt. Big government is not the answer. The market place, properly regulated, and private industry must have an encouraging environment to allow us to grow production as we shrink debt. Bailing out the banks who were among the key players who caused the morass we now find ourselves, brings the moral hazard that created the polluted environment which is now not allowing us to breathe. Fiscal sadism cannot be counteracted by monetary masochism. Thera are no painless solutions.

By: Danny

Danny — Mon, 07 May 2012 00:59:43 +0000

Yra,
Fantastic summary as always