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Politics : Politics for Pros- moderated

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From: teevee	5/19/2012 1:21:45 PM
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It is obvious the central bankers for the G8 have provided insight into just how bad things could get along with some very bad scenarios to the political leaders, otherwise, why meet at Camp David this weekend? (ie. in spite of contingency plans, unintended consequences of Greece and Spain collapsing, runs on banks spreading from Greece to Spain and then to the rest of the EU and on to Britain and North America etc) With gov't balance sheets geared to 4-5% economic growth, and the best growth at only 2% to maybe 3%, gov't leaders still fail to accept the size of gov't (people, programs and spending) must be cut to at least match lower economic growth rates, and preferably even more to reduce current high levels of debt. Rather than face reality, I believe G8 leadership believes they can inflate their way out of the problems, and that the meeting this weekend foreshadows more money printing that will make QE1 & QE II, and previous US dollar/Euro swaps look like a fart in a wind storm. Unfortunately, I don't see any place to hide.......any ideas here?

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