2011-09-06blogspot.com

"Nothing new from Ms. Lagarde, in other words. What we need is growth! Never mind that with high unemployment in many European countries, as well as the United States, and with housing markets either about to burst (Britain, Holland, Denmark, Sweden) or in just the first steps of doing so (United States, Spain, Ireland), substantial economic growth is but a mirage. It's not all that far-fetched to say we haven't seen any real growth for three decades; instead we've done nothing but borrow our way into an increase in spending power."



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