A useful reminder: NewYorker means "from New York", the capital of the financial system, the owner of the private bank that controls the Federal Reserve, and th

A useful reminder: NewYorker means "from New York", the capital of the financial system, the owner of the private bank that controls the Federal Reserve, and the people who are most interested in printing money ad infinitum so their financial theater does not collapse today(it will but they can delay it kicking the can another day). Another useful reminder: There is no austerity in Europe or anywhere!! There is not a single country in Europe that spends less that what they have(the definition of austere), all of them have deficits, so there is no such a thing like what the Feds or ECB want you to believe. All of them are over-indebt, e.g next year Spain will have to give 25% of their taxes for paying interest of the debt they got. They are so in debt that the vicious circle makes impossible to pay the debt as interest rise more than GDP. Blaming austerity for the problems of over leverage is a good trick on the financial hat, like blaming the bed for the handover. Deleveraging will happen, debts will not be repaid, savers will lose most of their wealth and social instability will erupt as the system could not be trust. Someone has to pay for the malinvestment done when money was free. This already happened before, it was called the Great Depression.