Monday, February 15, 2010
4 More weeks of winter...
Becky let us know that there were,sadly, only four more weeks of winter left. Just think, only 4 more weeks of rutted impossible to drive on streets. 4 more weeks of snow piled so high at corners you have to stop at virtually every corner in town. 4 more weeks of the weatherman saying "No travel advised". 4 more weeks of cancelled school and activities because of windchill, drifting roads, white out conditions. Ugh, how can we manage 4 whole weeks?
I pulled out these pictures, The first one taken only a few days ago, so we could see what kind of melting has yet to take place. In just a few short weeks, no less. Both of these shots are of the same place. They are of my neighbor's flower garden. Well, the first one is at least what it looks like now, and the second is what I am so hopeful that it will look like in maybe 10 weeks. Now I ask you, which one of these would you rather have? I know what my vote is for. And let me just say, I can't wait!!
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So, It is politically impossible for the strong economies of Europe to pass a bailout, it is politically impossible for Greece policy makers to pass sufficient budget cuts, if budget cuts are implemented then it will just push Greece further into debt deflation, a default by Greece will cause a run on the European banking system, the ECB has no legal authority to purchase Greece’s bonds, if Greece gets bailed out the EU will need to confront similar problems with Spain, Italy, Ireland, and Portugal which have a combined GDP larger than Germany, and if they all get bailed out Germany itself will be bankrupt. Did we say the markets hate uncertainty?
Euro Crisis
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