President Barack Obama Message Board

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Politics : President Barack Obama

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To: RetiredNow who wrote (117387)	7/24/2012 1:07:12 AM
From: tejek	Read Replies (1) of 149317

Today was sweet irony day. The Euros have been pushing austerity since day one while we have pushed for stimulus. The US is in recovery while Europe digs a deeper and deeper hole. Spanish bond yields are soaring............its cost to borrow is over 7%; it was 4% before the recession. The current US rate? Glad you asked.........1.4%. Spain is in a death spiral thanks to Germany and its austerity BS. Meanwhile, Moody downgraded the Netherlands, Luxembourg and Germany today. And they deserve it.......all are prosperous but for 4 years, all have been kicking the solution to the EU's problems down the road because they are cheap. Austerity this......austerity that........bla bla bla. The jig is up..........they have no more time to play. And by the way..........China's latest HSBC PMI came in at 49.5 today.........the best reading since Oct, 2011 and significantly better than last month's 48.2 reading.

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