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Tuesday, November 30th, 2010
Bailouts For Europe Like Painkiller For A Toothache
GLOBAL ECONOMY – First it was Greece and now, it’s Ireland that got a bailout. Next it will be Spain and Portugal. Who’s next in line and will it help?
Predictions from Higher Intelligence:-“With a toothache, the pain comes back when the painkiller wears off. Bailouts, the financial painkiller, will only postpone the pain of the eventual default of a major European nation. There won’t be enough money to keep bailing out country after country.”
Commentary from the Mediums:The debt loads in Europe won’t be sustainable. Creditors will reluctantly be forced to take write-downs and restructurings. America will be next.