All these governments seem to be borrowing endlessly with no brakes on in the game. Very little of this money being borrowed is being put into productive investments. Instead, it's being spent on entitlements, bailouts and various other gimmicks to keep the lipstick on the pig (economy) and get the politicians re-elected. I'm not surprised people are losing confidence. They see interest rates being set down near zero, debt monetization going into overdrive, crony capitalism and the like. It's all a shell game while the productive private economy is being hollowed out. Honest, productive people have been turned into the third estate and than most of them have to apply for payday loans. The first estate being wall street/bankers, the second estate being the political class/unions, and the third state being everyone else. I see this getting far, far worse before it gets much better.
ViktoriaS September 20, 2011
at 6:54am
All these governments seem to be borrowing endlessly with no brakes on in the game. Very little of this money being borrowed is being put into productive investments. Instead, it's being spent on entitlements, bailouts and various other gimmicks to keep the lipstick on the pig (economy) and get the politicians re-elected. I'm not surprised people are losing confidence. They see interest rates being set down near zero, debt monetization going into overdrive, crony capitalism and the like. It's all a shell game while the productive private economy is being hollowed out. Honest, productive people have been turned into the third estate and than most of them have to apply for payday loans. The first estate being wall street/bankers, the second estate being the political class/unions, and the third state being everyone else. I see this getting far, far worse before it gets much better.