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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (126191)	11/2/2012 1:08:28 PM
From: tejek	Read Replies (1) \| Respond to of 149317

Ted, I'm not wrong about Spain. I lived in Madrid for two years. I know all about Spain. Spain lived beyond its means and they engaged in a massive debt bubble in real estate. The Europeans are now trying to help Spain solve its problems with more debt. It won't work. All that does is lead to walking dead companies and sovereigns. Austerity is not the problem. Too much debt is the problem. It was not the gov't of Spain that lived beyond its means but its the gov't of Spain that is getting punished with German austerity. If austerity was the problem, then why is it that fiscally responsible countries like Australia don't have the same problems as the southern European nations? Because their bankers did not do what Spanish and American bankers did. Incidentally, I put my money where my mouth is. 5% of my portfolio is in Australian sovereign debt (AUNZ). Nice yield and it will benefit not just from the dividend, but from the currency devaluation of the dollar. Good for you................may you die and be buried in gold. You are so money hungry you can't see the forest for the trees.