Thursday, September 6, 2012
Excited about Buying Italian Debt: Tales From Normal, MN.: FICTION
Just got the text from Normal, Mn. today that the ECB has announced a solution to the debt problem in the European Union----when you get down to the nub of it, Germany is going to backstop everything...with conditions of course...and that is where the excitement is coming from...the conditions for Italy probably will be forthright accounting, or maybe taxation of property..imagine....or maybe taxation of all the income in the black market..yo...and of course German debt has been downgraded since ..well...the prospects ....for the backstop...are not as good as the hype.