Europe: Bloom Already Off The Rose
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  • Corlyss

    I listened incredulous to Charles Dallara last night on Kudlow, who copped the first interview with the deal broker. After he talked soothingly about the 50% haircut he’d worked out with the relevant parties, including the CEOs, he then talked about the “tough work” the Europeans had to do revising unions’ contracts, pension guarantees, and job security; loosening labor markets; freeing up capital for growth. I felt like the kid looking at the nekkid emperor. Regrettably, that’s the essence of the problem in Europe. Economists have been urging Europe to de-ossify for decades to promote growth. In good times they weren’t listening. How much more difficult will it be to get them to listen in hard times when the last thing any of them want is violence and unrest from the usually docile herd? What encouragement do people like Dallara see in the violent riots in Greece, Spain, Italy, and England? Just curious.

  • KJ Marks

    I’m surprised that you see evidence that the US Economy is starting to recover. There has been no meaningful change in consumer outlook, nor in the number of people either unemployed, under employed or just not looking for work (which, as I understand, stands at about 20% of the working age population), and the business suffocating regulations continue to pile up; and the regulatory and tax outlook uncertainty shows no sign of abating thanks to Obama’s hatred of business and the “millionairs and billionairs” that produce the wealth.

    What exactly would be the impetus for a recovery, I wonder?

  • Jacksonian Libertarian

    There is a reason why it’s called Capitalism, as Capital is what fuels the economy. When the Government Monopoly is siphoning over a Trillion dollars a year from the fuel tank of job creating investment capital ($1.3 Trillion at just the Federal level, nearly 10% of the $14T GDP), any signs of economic improvement are false, and will be revised at a later date. Welcome to Great Depression 2.0 where the next bear market rally is just around the corner.

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