tag:blogger.com,1999:blog-5649264476699871612.post5233300113852138553..comments2023-10-25T04:54:37.147-07:00Comments on Just Right: European debt crisis: “... the haircut looms ... for all of us”JRhttp://www.blogger.com/profile/10884491329536733335noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-5649264476699871612.post-69702724816332568342011-09-16T22:07:23.502-07:002011-09-16T22:07:23.502-07:00Had the various governments in Europe and the U.S....Had the various governments in Europe and the U.S. allowed their overextended banks to go under when the debt crisis hit they would have only had to deal with that single problem, massive and destructive as it might have been. Now, not only do they have the problem with the banks, but those same nations have taken on so much sovereign debt trying to bail out Greece, that the nations that have been funding this disaster are in trouble. The cost of saving the various nations as well as the banking system is going to place such a load on the taxpayers that the entire world will be plunged into a depression on a massive scale. These fools thought that by pouring more money into the insatiable maws of the spendrift countries that they could stabilize the situation. Instead they have now pulled everyone into the black hole. Had they followed the tough capatilistic policy of allowing the reckless and profligate go under they would not be faced with this double whammy.Anonymousnoreply@blogger.com