Archive for February 11, 2010


February 11, 2010 Leave a comment

Larry Summers, as seen on Zero Hedge

On The Eve Of The Greek Bailout, Clusterfuck Reigns, Threatening Tentative Market Stabilization With Collapse – Zero Hedge

Greece: Everyone is running around with their hair on fire, and Caesar is, apparently, awaiting an invitation to enter Rome:

“The clusterfuck reaches epic proportions as the European leaders realize that someone has to pay for their stupidity. That someone is gradually emerging to be, gasp, Uncle Sam (congrats America, you will soon LBO Greece).”

Zero Hedge adds:

Surely that is the best outcome: US citizens have proven completely oblivious to being robbed blind in broad daylight. After $23 trillion has already been pledged to pay for a few more Goldman Sachs G-V’s what’s another $80 billion in future increased taxes and US debt expressed in silly notation, between friends? At least the Europeans are willing to quickly go to the bathroom when the bill comes. America, on the other hand, is always eager to pay with the Taxpayer Platinum card. And tip handsomely. Especially if it means the dollar goes to zero and buys even more G-Vs for Goldman.

Governor Christie Declares “New Jersey on Edge of Bankruptcy” – Mish’s Blog

The Governor of New Jersey declares war on the social compact to the loud applause of Mish Shedlock:

“The reality is public unions are public enemy number one. Christie did not go far enough. He should have stated a goal of totally abolishing the unions.”

You’re definitely gonna to need a bigger boat. Mish and his libertarians make the Tea Baggers look like European Social Democrats. His hostility to unions is only matched by his hostility to the post-war social compact and unions. (Did we mention that he doesn’t like unions.)

A Proposal for True Keynesian Economic Stimulus – Economic Populist

We totally disagree with this, but if you are going to try a Keynesian solution to this crisis, why not implement stuff that works.

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