Thursday, May 13, 2010
Oh Rly?
The Telegraph: US faces same problems as Greece, says Bank of England
Mervyn King, Governor of the Bank of England, fears that America shares many of the same fiscal problems currently haunting Europe. He also believes that the European Union must become a federalised fiscal union (in other words with central power to tax and spend) if it is to survive.
Posted by devo @ 10:08 PM (1128 views) Add Comment
8 Comments
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1. devo said...
it took him 3 years to stumble upon Karl Denninger?
yeah, right
2. tom101 said...
Interesting comments about Darling....
Perhaps he should be involved in the coalition.....
3. devo said...
re: interesting comments about Darling
"he has brought, not just domestically but internationally, a sense of calm and good humour which has made it much easier to deal with the problems that arose."
so have i
perhaps i should be involved with the coalition
4. devo said...
i'm loving this no-one's to blame / everyone's to blame collapse
5. mr g said...
"And I very much valued the opportunity to work closely with Gordon Brown..... And I wish him well in what I suspect is a career of which we may yet see more to come."
Please, please, no!
6. devo said...
"a career of which we may yet see more to come."
at the old bailey, alongside tony
7. debtfree said...
Sitting in 8th place, sandwiched between Lebanon and Latvia, California is now one of the top 10 government default risks in the world.
Greece, Portugal, Ireland and Spain are causing problems for the Euro but its small change compared to America's problems.
The unemployment insurance system is in crisis. A record 20 million Americans collected unemployment benefits last year, and so far 25 states have run out of funds and been forced to borrow from the federal government, raise taxes or cut benefits. 46 out of 50 states are running deficits, New York $9 billion and California $20 billion for starters, each state is falling like dominoes unable to pay pension funds and withholding tax returns.
We ain't seen nothing yet.
8. Crunchy said...
6. devo said...'at the old bailey, alongside tony'
Tony has made millions since leaving through his complexed company and Brown will follow in this wonderful tradition.
Keep watching the paymasters, they owe Brown big time.
Wishful thinking devo. :(
Perhaps after a revolution.