In the worst case, the restructuring of a member state could overshadow the effects of the Lehman bankruptcy. Don't worry, be happy, says Rot, while downing yet another glass of ouzo.
REGURGE: Italy has far more sovereign debt outstanding, almost $2,000 billion, than any of the other problematic governments. No problemo, says Rot. It's all Monopoly money. Just put it on the tab.
Tuesday, June 21, 2011
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2 comments:
I don't get it. Sovereign debt is the good news. It's foreign debt that's the (more) problematic one.
Yeah, the Italians and Europeans in general should shut some of the social state. But the US should quit handing its ass to the Chinese.
Mr Rot, you seem to have a problem with what it means to go in the hock, and then having to pay the tab. We need to have a few cool beers in an appropriate venue, and I'll explain the concept to you. At the end, though, you need to pick up the tab. Fair is fair.
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