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What's happening in Europe

Since this is basically the biggest hurdle facing the American economy (other than vicious, persistently high unemployment which our congress and the Fed has apparently decided to just ignore), it’s important to note that Europe is slowly improving thanks to some clever manipulations by the European Central Bank.

That this is being done while providing billions in profits to European banks is something that at this point people have a hard time getting upset about.  This is understandable given that we invented this idea in our country.  Funnel all monetary stimulus and recovery options through the skimmers that are the modern banking system so when ECB and Fed employees retire, they can go get super cushy jobs at these same banks.  It’s capitalism people!!

Greg

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Posted on Thursday, December 29, 2011.

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