the humble libertarian

out of many one

Wednesday, June 13, 2012

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.
Read the rest here
Mish's Global Economic Trend Analysis 

Judy Morris,
Blogger, THL
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