Wednesday, March 21, 2012

Please listen to Paul Ryan

   God love Mr. Ryan and his budget plan.  You might not like what he has to say and you might not like the truth either.  I only point to Europe and the hell those people are going thru now, some of which could have been avoided if the got off the social train years ago.  Only today Spain announced it will be going to a 37.5 hour work week, not unlike our own union members................
Geithner, the tax dodger, always there with advise?

Greece’s debt situation is as unsustainable as ever; so is Portugal’s; so is the European banking sector’s and so is Spain’s,” the influential Financial Times commentator Wolfgang Munchau wrote Monday. “The worst, I fear, is yet to come.”
Southern Europe’s moribund growth is rooted in the long-term decline of competitiveness in countries like Italy, Spain and Portugal. Reforms to free up labor markets, cut business costs and slash red tape could pay off in the long term. But right now, austerity measures to bring budgets down are compounding the no-growth problem.
Greece’s economy is set to contract for the fifth successive year with a 4.4 percent drop in 2012. Portugal’s will drop by 3 percent, Italy’s by 1.3 percent and Spain’s by 1 percent.
US Treasury Secretary Timothy Geithner on Tuesday praised efforts by southern European governments to get their finances in order, but warned they also needed to stimulate growth to prevent a prolonged recession that will keep them mired in debt.
“Reforms will take time and they will not work without financial support,” Geithner told lawmakers in Washington. Without stimulus, he cautioned that Europe could sink into “a self-reinforcing negative spiral of growth-killing austerity.”

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