Tuesday, August 02, 2011
Italian 10 Years Back Over 6%
The actual debt deal contains no austerity at all. Spending cuts are minimal and deferred, so any immediate impact is utterly dwarfed by the impact of inflation on real wages. If the cautionary note contained in the "deal" is sufficient to quell enthusiasm at the commodity trading desks, the debt deal might prove to be a minor economic stimulus.
In other news, I have developed a bit of problem with my eyes so blogging isn't going to be very constant in the near term. July light vehicle sales are the next important number.
The fact is, individual Americans ARE trying to live within their means. And government is doing everything it can to raise taxes and devalue the currency, thus ensuring less means for individuals which pushes them toward austerity while the government and its mouthpieces (cough, Krugman, cough) pretend there is no austerity
Yeah, I like it very much when I can tune in every day and see a new post (sometimes two!) as has been the case lately. But I'd rather you post less, and rest more.
Please. If not for us, if not for the chief, then do it for the bulldog.
Links to this post: