Germany (and France) ought not make policies that lead to collectivisation of European debts. To do so will result in a massive flow of German taxpayer money to Greece, Ireland, Portugal (and eventually Spain and Italy). Maybe I am wrong, but I don't see the German's standing for this (and that assumes the Greek, Irish, Portuguese, etc. people will completely abdicate their own sovereignty to European bureaucrats). How would American's feel if massive amounts of taxpayer money was going to go Mexico and Canada to bailout their own fiscal foolishness? When they dig deeper into what their government plans to do, individual Germans will be outraged. Thank goodness history shows that angry Germans are the docile sort. Hahaha. Haha. Ha???
-Great post from John Mauldin on Europe:
-Here's John Hussman's weekly short piece. He discusses other things, but also noted that 3rd grade math essentially guarantees Greek and Irish default (at least).
-And one final one from Mike "Mish" Shedlock.
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