Monday, May 10, 2010

I Don't Get It

Europe has announced that it is solving its debt problem by obtaining a massive loan, much of which will be provided by the US which is, itself, running a deficit. The soluntion for too much debt is to borrow more money? And we are in a position to lend money to Europe? Fannie Mae is broke again and needs for the taxpayers to lend (give?) it another $8.4 billion.

And the DOW is up 384 points. Up? As in, increased?

Update: Oh yes, I forgot the "homeowner theory" of debt management.

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