Wednesday, May 05, 2010

If you know statists....

....you know that consistency is not their bag, collectively speaking of course.

For example, last week Standard and Poors was all but accused of steam-rolling the widows and orphans of Greece in an effort to line the pockets of SP's paymasters, that being the evil banking/finance class. It was as if Heinz Guderian was at the helm of SP:

So Greece has had its debt downgraded.

What an opportunity for profit for the financial markets.

What a disaster for the people of Greece.

And what a triumph for Standards and Poors.
This week, alas, the very same source on SP:
Amazing. Standard & Poors undertsand that the only way out of a recssion is to spend. If you don’t - as Greece will not be allowed to do - then the recession deepens into depression - as Greece’s surely will - debt becomes harder to repay - social crises follow - fascism is welcomed in after that - and hey presto, we have the 1920s and 30s all over again.
Then again, this all comes from the very same source who exorted us all a few weeks ago that:
Let’s ignore the nonsense - the reality is there is no debt crisis - even in Greece

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