Kyle Bass Destroys The Ponzi-Prone Debt Sustainability Arguments Of The Status Quo...And Why Germany Can't Save The World | ZeroHedge: "Another noteworthy Kyle Bass moment as he discusses debt sustainability among major global sovereign nations. Simply and proficiently, the hedge fund manager describes how a dwindling current account surplus in Japan, US welfare economics, and the peripheral-to-core European stressors are all Madoff-like and unsustainable. Switching from broad-brush terms to the idiosyncratic complexities of each region, Bass offers his inimitable take - in a mere six minutes - on how the status quo is quivering under its own self-deception. His rightful conclusions remain extremely worrisome and should be required reading/watching for every central banker and politician trying to keep the dream alive."
Umm. Let me retract that "know nothing" part of the title. Heh.
Shortened: http://gg.gg/sanity Contact: bob underscore wtf at comcast dot net
QUOTE OF THE HOLOCENE: "The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation" - V.I. Lenin -- You're welcome to point out to me any decision that Hugo Chavez Barack Obama has yet made that Lenin would quarrel with. [ crickets ]
RUNNER-UP QUOTE OF THE HOLOCENE: "When buying and selling are controlled by legislation, the first things to be bought and sold are legislators." - P. J. O'Rourke
DUAL QUOTES OF THE 20TH CENTURY: "Democracy is the theory that the common people know what they want and deserve to get it good and hard." and "The urge to save humanity is almost always a false-face for the urge to rule it." --H. L. Mencken
LAST YEAR'S QUOTE: Washington, D.C. runs "just like the mob, except it's legal," said Schweizer. "If problems are being solved, if things are going smoothly and things are being fixed, a lot of people are not going to give. The party establishments and the political leaders from both sides are collaborating a lot more than they let on," explained Schweizer."
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