from Zero Hedge:
As Monti, Grilli, and Berlusconi jockey for the headlines, the nation
of Italy will surely be celebrating. Since debt is apparently wealth, the
Italian nation has just joined an exclusive club of ‘wealthy’ nations
as its total national debt blows through EUR 2 Trillion. With
the trend now growing beyond exponential, having gathered pace since
the crisis began in 2008, we suspect it won’t be long before we see EUR
3 Trillion (of course entirely backstopped by FT’s man-of-the-year
Mario Draghi). It appears that it’s not ‘greed-is-good’ but ‘debt-is-good’ that is the idiom of today’s sovereign financiers.
Read More @ Zero Hedge.com
As Monti, Grilli, and Berlusconi jockey for the headlines, the nation
of Italy will surely be celebrating. Since debt is apparently wealth, the
Italian nation has just joined an exclusive club of ‘wealthy’ nations
as its total national debt blows through EUR 2 Trillion. With
the trend now growing beyond exponential, having gathered pace since
the crisis began in 2008, we suspect it won’t be long before we see EUR
3 Trillion (of course entirely backstopped by FT’s man-of-the-year
Mario Draghi). It appears that it’s not ‘greed-is-good’ but ‘debt-is-good’ that is the idiom of today’s sovereign financiers.Read More @ Zero Hedge.com
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