Friday, March 2, 2012
Greece: Recession hits January revenues
Hey, no kidding! This is the second story out today from the AP via Yahoo! that unbeknown to them is reporting on the same phenomenon in the Eurozone: Forced austerity resulting in an increase of the non-government sector savings desires. Which by definition leads to a decrease in demand, decreased revenues and associated higher fiscal deficits else equal.
Pretty simple.
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3 comments:
Hey! Obviously those lazy Greeks are living beyond their means even moreso than before!! Only the Expansionary Austerity Unicorn can stop them!!
This is just turning into one big Merkel-jerk.
No Unforgiven, now it is SPAIN that that is 'living beyond means'.... Greece is old news... so passe.... Wall Street schill rag Vanity Fair will now have to dispatch media whore Michael Lewis to Spain for a boozy week holed up in the hotel room to create a fictional report on how Spain is cheating, lying on reports, not paying taxes, etc...
Greece is old news....
Instead of the Euro, it should be called Eurpwned.
At least Spain will get some income from the Touristas that way. Not enough to save them from "Tia de los Muertos".
Maybe they should wait until she figures it's all wrapped up, then surrender to Gibraltar...
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