Monday, May 9, 2011

The Daily Snark 5/9

Greece's credit rating (they still get one?) downgraded yet again. They were paying 26% interest on loans prior to this credit cut.

It amazes me that people still believe government spending is, has been, or ever could be the answer to economic problems. I think it has a lot to do with that verb, believe, rather than a different verb, think.

Time to start thinking or to prepare for collapse. I think Ken Anderson, guest blogging at Instapundit, has it right in that a crisis will not be a smooth transition from ok to getting worse to bad. It will, rather, be a rapid implosion. By the time we see things speeding up, it will be too late. Hence why we must act now rather than later to cut government spending.

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