Posted on 08/07/2011 7:04:28 PM PDT by dollarbull
Highlights from the just released G-7 statement:
G7 Says Will Take Every Action to Stabilize Financial Markets G7 says it will commit to secure liquidity in market G7 will cooperate closely on currency market actions G7 says it will be in close contact next few weeks G7 says disorderly moves in markets hurt economy G7 says currency rates should be decided by markets
But the winning bullet point of the year is...
G7 says currency rates should be decided by markets
(Excerpt) Read more at zerohedge.com ...
“The addict cannot get clean on his own and will die with a needle in his arm...complete devastation in his wake.”
A year ago I wrote:
Deficit “stimulous” spending may produce an initial ephemeral gain, but pretty quickly will assert a significant detrimental impact on the future economy. The bottom line is that deficit stimulous spending is like a powerfully addictive drug. At first, the short term artificial improvement in outlook seems delightful, but then you’re forced to maintain or even increase the dose. If you stop, the resulting crash is awful, but the longer you go without stopping, the worse the crash. The problem of course is that eventually you must stop or otherwise you’ll fatally destruct.
This, of course, means that global markets are now rigged. Who would invest in a rigged market?
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