It looks like Spain is going to get Greeced. They will use the same tactics to save them, but in the end, it will fail. The over spending by governments in the EZ, will continue to bring down their economies. No amount of money printing, cutbacks, or taxation, is going to save them.
They will all eventually have to drop out of the EZ and take their medicine of austerity, inflation, debased currency, and stagnation. It will take them as much time, (or more) to get out of this mess, as it took to get into it. There is no easy fix, and no amount of propping up failed banks will save them. This failed solution will only bring more pain later on.
Germany can not continue to prop up the EZ and keep it's own economy healthy.
THE SCENES AT THE G-8 AND NATO MEETINGS Behind
the scenes at the G-8 and NATO summit meetings, some significant decisions were
made that will impact over the coming weeks. The
critical decision at the G-8 meeting and several of the bilateral meetings that
took place on the sidelines of the Camp David gathering centered on the
decision to plunge ahead with the bailout of the European banks in an effort to
save the Euro system, with Greece still inside. President Obama is
terrified that a financial meltdown of the Euro system will spill over into
Wall Street and result in his losing the November elections. Behind the
scenes around Camp David, Christine Legarde put the IMF squarely behind a
bailout of the European banks, with the full backing of the Federal Reserve and
Treasury in the United States to boost the leveraged lending of the European
Central Bank (ECB) to prop up the European banks. ECB will take junk bonds
and other vastly over-priced assets as coll…
Once again, gullible investors get had by the Casino that is Wall Street. Facebook goes public, drops dramatically, and everybody acts surprised. Somebody made a killing and many got fleeced. I guess that's what happens to sheep. 2008 should have taught all of us a lesson about trusting Wall Street investing, and the risks involved, but here we are again. You would have thought that MF Global would have been a reminder of how corrupt Wall Street and our government really is. We have Corzine walking around free and bundling money for Obama, after stealing hundreds of millions of dollars from average people who probably worked very hard for their money.
Some people never learn, the greedy and corrupt profit from them. This is the point we have digressed to. It has always been this way to some degree, but never on this scale, and never so brazen and unpunished. Crime pays in our world, for the connected.
Doctors, hospitals and drugmakers raised prices faster than inflation in 2010, driving U.S. health costs higher as fewer Americans sought care after the recession.
Spending on workers covered on the job grew 3.3 percent per person in 2010, twice the general inflation rate, according to a report today from the Health Care Cost Institute, a Washington group that examined data from insurers including UnitedHealth Group Inc. and Aetna Inc. While costs increased, enrollment in employer-sponsored plans declined, the researchers said.
U.S. medical spending almost doubled in the last decade, reaching $2.6 trillion in 2010, according to federal government statistics. Today’s data suggest policymakers may have to consider the market power of hospitals and doctors to try to tame that growth, said Martin Gaynor, an economist at Carnegie Mellon University in Pittsburgh who helped write the report.
“Most of the increase was driven by increases in price,” Gaynor said in a telephone interview. “We…
A Tale of Two Countries: Below are Links that will prove a very Important point.
When the Bank's in Iceland went Belly Up, The People said... Oh No you don't and refused to get shafted by the Banks. You can note, that unlike in the USA, Many of these Bankers were charged and INDICTED for their "Shitty Deals". Here in the United States, the Bailout is Still Costing Taxpayers $132.9 Billion And They Won't Be Paid Back For Years. What is even worse to note, Not only did these US Bankers make the "Shitty Deal's" but the Tax Payers have to pay for the Billions the Banks received and then to add Insult to injury, These Bankers received Millions in Perk's and Bonus's for doing such a "Shitty Job" in sinking the entire economy plus the loss of Homes to Millions of people and their Credit too. Many Customers saw a Credit Card with a 9% Interest jump to 29% overnight.
Enjoy the Links below and see how the residents in Iceland fought back and t…