Italian Paradox: Italy is Borrowing money at 4-5% to Lend to Spain at 3%; Official Denials From Italy That Italy is Next

The insanity of statism and central banks.

Supposedly Spain is 12.75% responsible to bailout itself. Italy is 19.18% responsible to bailout Spain. Does this work? In retrospect the word "paradox" is wrong. Ponzi scheme is more like it, and the scheme is ultimately backstopped by Germany.

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Mish's Global Economic Trend Analysis 

Judy Morris,
Blogger, THL
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