Pumping From One Hold of the Ship to the Other 04-21-10 mpg Sovereign debt rise poses new threat to global economy A quote...."Rising government debt is creating new risks to global financial stability, the IMF has warned. It said that the increase in sovereign debt would put new pressure on lending markets just as the world’s banks try to refinance about $5 trillion in short-term borrowings." - also posted at BLN This article is highly irritating. In this article the IMF (a.k.a. blood sucking loan sharks extraordinaire) predicts slightly better economic conditions for the world economy and has "cut its estimate of the cost to the banks of the global financial crisis" while "In Britain, loan loss provision[s] ha[ve] been revised down[ward]." but the IMF also stated "The picture is spoilt by worsening sovereign risk that could prolong the credit drought.". Yeah that's right!! We're on the sinking ship called the USS Anglo-Sphere, powered by a creaky, cantankerous, seventy year old, 10yWCE engine (ten year war-cycle-economy) which has taken on enormous amounts of water (debt) which the parasitic mavens of complete idiocy who run this ship of doom and demented depravity have pumped from one hold of the ship -- the Banksters' portion -- to the other hold of the ship -- the Public's portion -- and who are now cogitating on the fact that the ship is still filled with water (debt) and apparently still sinking. Wow! They're so brilliant, who would have thunk it!! It all just brings one to tears sometimes, usually because this website editor is laughing so hard. - mpg |