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Eurobonds: The Fiscal Version of Co-Signing a Loan for Your Unemployed Alcoholic Cousin Who Has a Gambling Addiction

DJ Redman Wrote: May 24, 2012 8:21 AM
Good article Daniel. This is truly a circus going round and round with worthless paper being used to supposedly bail out insolvent countries. Wasn't long ago that many investors who bought these phony EU bonds to originally bail out Greece were asked to take about an 80% haircut- IE you lose your investment. They just keep on coming up with different fraudulent schemes to do it over and over and over. Let the UN Globalists and Socialists collapse completely. Bread lines will replace lavish Union pensions.
Reginald10 Wrote: May 24, 2012 3:46 PM
Would you lend someone $100, if you knew you'd get only $20 back? Well, why would you want your government to do it with your money?
Don't buy Eurobonds; don't get burned.

I’ve written many times about the foolishness of bailing out profligate governments (or, for that matter, mismanaged banks and inefficient car companies).

Bailouts reward bad past behavior, encourage bad future behavior, and make the debt bubble bigger – thus increasing the likelihood of deeper economic problems. At the risk of stating the obvious, there’s a reason for the second word in the “moral hazard” phrase.

But I’m not surprised that politicians continue to advocate more bailouts. The latest...

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