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[credit: John Cole, Scranton Times-Tribune]
Wackydoodle axes: Can I hold Perry's sniper rifle? |
The only thing the Obamatron reelection campaign has got going for it right now is the GOP parade of extremists and social Darwinists "debating" each other on national TV. The economic news is simply depressing, and Obama jobs bill is already shredded on the floor of the tea party formerly known as the House of Representatives. And there is this little bit of sun from Boston Consulting Group via Zerohedge.com: muddling through a global de-leveraging is not an option despite the
Bundestag vote to save the EU by throwing more debt at Europe's debt problem. The developed world is $20 trillion in debt over the level considered to be stable, or 180% of world GDP. Ben Bernanke's attempt to inflate our way out of the crippling debt load
is failing, and a coordinated global debt restructuring will result in the bankruptcy of the big international banks. You can bet
Goldman Sachs will not let that happen.
