Sunday, 21 November 2010
Next In Line Please
Dearie me, you mean to tell me that the Politicos in Portugal are fiddling the books, well I never.
Meanwhile in Spain its win-win for JP Morgan
"I do not think that Spain is going to be the next Greece or Ireland," JP Morgan strategist Robert Michele told the Expansion daily on Friday.
"We are buyers of Spanish debt (bonds). I have confidence in the Spanish government and its policy on financial restructuring," he added.
SO if everything is OK, everything stays OK if everything is not OK then its Bailout money to make everything OK, it must be tough being a banker, all these complex sophisticated investement decisions.
Maybe in future Government debt should first be made available to buy by the voters of said government one year before its offered on the open market, then we might have a way of finding out if the voters of said government have faith in it, a sort of democratic price signal.