Perdido 03

Perdido 03

Monday, May 17, 2010

Maybe Firing Teachers Will Solve The Problem

Fun all across the globe this morning:

May 17 (Bloomberg) -- Asian stocks fell the most in more than three months, the euro dropped to its lowest against the dollar since 2006 and the cost of insuring bonds from default jumped on concern European austerity measures will derail the economic recovery.


“Europe is certainly the scary story at the moment,” said Jason Teh, who helps manage $2.6 billion at Investors Mutual in Sydney. “Corporate debt risk was the 2008 story, now its sovereign debt risk. The countries that can print money may have to do it again to keep their economies afloat.”

One week after agreeing to a $1 trillion financial lifeline for the euro region, European finance ministers meeting in Brussels today are under pressure to show they can reduce deficits fast enough to satisfy investors and then police budgets once targets are met. Investors are growing increasingly skittish after Greek Prime Minister George Papandreou said Greece is considering legal action against U.S. banks that may have contributed to the country’s debt crisis.

It won't take much to send the financial system into a 2008-like crisis all over again, only this time it's going to be really hard for President Accountability, Helicopter Ben Bernanke and Treasury Timmeh Geithner to just print their way out of this.

Not that they won't try anyway.

But I'm sure before this is all done, President Accountability will find a way to blame the mess on the public education system and call for some teachers to be fired.

And the charter school/"Keep Teachers Great" people will be up with ads in no time backing him up on it.

I do wonder where all the hedge fund crooks and charter school scumbags are getting the money to burn on the ads given the state of the world financial system these days.

Maybe Obama and Bernanke are funneling it directly to them fresh from the printing presses?

When they're not funneling it directly to JP Morgan Chase, Goldman Sachs, Citigroup, BoA, et al,, that is.

Oh, wait - the charter school/"Keep Teachers Great" people are those people too.

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