Monday, July 2, 2012

US fiscal crisis -- where we are headed

US fiscal crisis -- where we are headed-- here's what the end looks like:

Niall Ferguson: If the young knew what was good for them they'd join the Tea Party - Telegraph: " . . . . Western democaracies “are going to carry on in their current feckless fashion until, one after another, they follow Greece and the other Mediterranean economies into the fiscal death spiral that begins with a loss of credibility, continues with a rise in borrowing costs, and ends as governments are forced to impose spending cuts and higher taxes at the worst possible moment.""


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