Quote:
Originally Posted by LessinSF
Agreed that we should, and should have, let more shitty lenders fail. Rubbing out China was a joke, but I should have known you wouldn't see that.
I thought one of the points being made was attacking Britain's austerity program, which is not about inflation, it is about reducing their debt. And I was paraphrasing PM Cameron from yesterday on just that subject - "The one thing we mustn’t do is abandon spending and deficit reduction plans, because the solution to a debt crisis cannot be more debt.” http://www.telegraph.co.uk/finance/f...lls-0.2pc.html .
It may have been too subtle, though, since only I am being forced to watch the BBC to get my news.
LessinAswan |
Yeah, Cameron and the Tories are really doing a hell of a job over there. I'm sure the UK is going to turn the corner any minute now and those austerity programs just need more time to work. Just like interest rates in the US are about to skyrocket because of QEs 1 through whatever --
any minute now.
"The solution to a debt crisis cannot be more debt" makes a nice bumper sticker, and it's about as valuable an observation in this context as "visualize whirled peas" is in a discussion of nuclear proliferation.
