Daily Archive: Thursday, May 6, 2010

Fighting back against the move to slash Social Security

Social Security is not being attacked on its merits. Therefore the bleeding heart arguments will not prevail. The protagonists believe the problem is that the federal government is on the road to financial ruin, and not merits of Social Security per se . My conclusion is the only message that will work ...Read More

rotten to the core

Here we go, and this is without additional austerity measures already in progress from the euro zone and other economies: Germany to Lose $61 Billion in Tax Revenue by 2014, Bild Says By Tony Czuczka May 6 (Bloomberg) — Tax revenue for German federal, state and local authorities will decline by a ...Read More

ECB meeting preview / ECB intervention?

In case you had not seen this. If the ECB bought Greek bonds in the secondary market and issued an ECB bond as suggested below, that could be a reasonable solution out of this mess? They don’t need to issue the ecb bonds unless the money markets have excess reserves driving short ...Read More