Perdido 03

Perdido 03

Monday, May 10, 2010

$Trillion Dollar Movie

Europe bailed out its weakest economies last night by pledging a $trillion dollar rescue package.

European markets are up 5%.

Dow futures are up 400.

It seems there is no economic problem that cannot be solved by simply printing more money.

Today the markets and the marketeers will party like it is 2009 all over again.

Gotta love 0% interest rates in perpetuity, yearly bailout measures for indebted institutions and countries and austerity measures only forced onto the working and middle classes.

Change we can believe in?

Nope - as Barry at Big Picture says, a trillion dollar movie we've already seen.

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