It should be obvious that the Greeks owe too much. But so does almost everyone. Every kind of debt is so heroic it poses an affront to nature and a challenge to the gods. Much of it is unpayable. Private debt. Public debt. Short term. Long term. US. England. Europe. All kinds of debt in all kinds of places. In America’s private sector, for example, debt exploded 6 times faster than GDP since 1950.
July 5th, 2010 | Bill Bonner | 21 comments | ContinuedAll Posts Tagged With: "Roubini"
Chaos No Longer a Theory
A German reporter with a very poor, or very excellent, sense of humour has been handing out the old Greek currency (Drachma) to Greeks on the streets of Athens, just to record their reaction. He obviously didn’t expect to get the worthless paper torn from his hands – literally.
May 8th, 2010 | Nickolai Hubble | 0 comments | Continued
Only “Essential” Government Employees Need Report for Duty
We wondered if any of them really were essential. Surely, not the fellows who are watching after the African horned beetle…
February 9th, 2010 | Bill Bonner | 2 comments | Continued
Curtain of Debt Divides Europe
It’s looking more and more like the euro crash will come before the dollar crash. Or maybe they’ll crash together. Gordon Brown hinted at something bigger and better than just a few major world currencies. He pointed out that nothing anyone’s done has really worked yet. So obviously, more will have to be done…
February 23rd, 2009 | Dan Denning | 3 comments | Continued
