I blogged yesterday about the disaster in Greece, and its rapid spread to other European countries. Today the fish-eye is turning on countries outside of the PIIGS, including Japan, Britain . . . and us. According to the Financial Times, "The Fund has calculated that almost all advanced economies need to tighten fiscal policy significantly in the coming decade in order to stabilise debt at 60 per cent of national income by 2030 and the tightening needed in the US, Japan and the UK is just as bad as that required in Greece, Spain, Ireland and Portugal." more...
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I blogged yesterday about the disaster in Greece, and its rapid spread to other European countries. Today the fish-eye is turning on countries outside of the PIIGS, including Japan, Britain . . . and us. According to the Financial Times, "The Fund has calculated that almost all advanced economies need to tighten fiscal policy significantly in the coming decade in order to stabilise debt at 60 per cent of national income by 2030 and the tightening needed in the US, Japan and the UK is just as bad as that required in Greece, Spain, Ireland and Portugal." more...
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