Wednesday, February 10, 2010

This is how you remain the reserve currency

You simply compare yourself to the other alternatives.....

The Fed's Fisher is out with comments today that are right on the mark - namely that "concerns over Greece, other European nations have helped keep treasury yields low."

It's almost that simple for America. As profligate with our government recklessness as we are, it simply doesn't compare with the train-wrecks across the pond...

Poor France & Germany. They will inevitably ride to the rescue of trash heaps like Greece, where public employees responded to moderate attempts at "austerity" (making massively more money than private citizens, down from absurdly massively) by walking off the job.

At least the communists are being constructive (sarcasm)...

Greek workers shut down schools, grounded flights and walked out of hospitals Wednesday to protest austerity measures as their prime minister headed to a crucial European Union summit with bailout speculation at a fever pitch.

Papandreou has faced pressure from unions, with civil servants walking off the job Wednesday in the first tangible widespread backlash against the new austerity measures.
"It's a war against workers and we will answer with war, with constant struggles until this policy is overturned," said Christos Katsiotis, a representative of a communist-party affiliated labor union.

I'm reading this right now. Pretty interesting....

Copyright 2010 AlphaNinja

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