Eurozone Crisis Watch

Italian bond prices movin’ on up – from the BBC:

Italy has had to pay much more to borrow than a month ago as investors continue to worry about its huge debts.

Italy had to pay an interest rate of 4.8% to sell 3.5bn euros ($5bn; £3.1bn) of three-year bonds – up 1.1 percentage points from June.

Despite multiple attempts to contain the Greek debt crisis spreading, Italy and Spain have seen their borrowing costs rise in recent weeks.

Italy has the largest sovereign debt of any European country…

They can keep plugging the leaks.  They can keep on printing Euros to buy worthless “PIIGS” bonds.  They can razzle and dazzle and have conference after conference – but at the end of the day, Portugal, Ireland, Italy, Greece and Spain owe more than they can ever possibly repay.  Default is inevitable.  Wiser heads are now just looking for the safest place to crash the plane…because crash it must.

Debt is poison – and piling on more debt to discharge old debt is economic suicide.  Keep that in mind as our Democrats try to sucker us in to believing that the only way we can avoid default is to go further in to debt.

10 thoughts on “Eurozone Crisis Watch

  1. neocon1 July 29, 2011 / 7:56 am

    sad but true

    Which side of the fence?
    If you ever wondered which side of the fence you sit on,
    this is a great test!

    If a Republican doesn’t like guns, he doesn’t buy one.
    If a Democrat doesn’t like guns, he wants all guns outlawed.

    If a Republican is a vegetarian, he doesn’t eat meat.
    If a Democrat is a vegetarian, he wants all meat products
    banned for everyone.

    If a Republican is homosexual, he quietly leads his life.
    If a Democrat is homosexual, he demands legislated respect.

    If a Republican is down-and-out, he thinks about how to
    better his situation.
    A Democrat wonders who is going to take care of him.

    If a Republican doesn’t like a talk show host, he switches channels.
    Democrats demand that those they don’t like be shut down.

    If a Republican is a non-believer, he doesn’t go to church.
    A Democrat non-believer wants any mention of God and religion silenced.

    If a Republican decides he needs health care, he goes about shopping
    for it, or may choose a job that provides it..
    A Democrat demands that the rest of us pay for his.

    If a Republican reads this, he’ll forward it so his friends can have a good laugh.
    A Democrat will delete it because he’s “offended”.

    • Sunny July 29, 2011 / 3:48 pm

      total garbage.

      • Amazona July 31, 2011 / 5:21 pm

        Gee. Sunshine, why don’t you tell us why the list is “garbage”?

        Why don’t you refer us to the Republican bills intended to:

        Outlaw guns
        Control what people can eat
        Legislate attitudes toward homosexuality and homosexuals
        Expand the welfare and entitlement systems
        Limit free speech by imposing regulations on what can be said
        Attack religion and try to keep it out of the public arena
        Force some people to pay for the health care of others

        Or are you too busy inventing bogus claims of victimhood?

  2. Sunny July 29, 2011 / 2:19 pm

    Italy has had to pay much more to borrow than a month ago as investors continue to worry about its huge debts.

    And guess what Mark, thank to the Tea Party freshment representatives the US is going to be in the same boat. It is going to cost the US billions in interest due to the naivity of the Tea Party Republicans who are very misguided in their idealisam. What a shame – it didn’t have to happen.

    • Retired Spook July 29, 2011 / 4:51 pm

      I’ve got to hear your logic on this one, Velma. Tea Party Conservatives are fighting for fiscal sanity and a balanced budget amendment, and THAT’s going to cause interest rates to rise? Can you describe exactly how that works?

      • Mark Noonan July 29, 2011 / 5:57 pm


        It is amazing just how Stalinized the left has become – the party line is that without more debt we’ll go broke, and so the left just mindlessly parrots that. They are clearly not thinking the matter through…

      • Retired Spook July 29, 2011 / 11:08 pm


        It’s either evidence of stupidity on a massive scale or a sad indictment of our educational system.

      • Mark Noonan July 30, 2011 / 1:17 am


        Logic and reason have been on the decline since the 13th century…if we work hard at it, by 2200 we might rise to the level of St Thomas Aquinas…

      • Retired Spook July 30, 2011 / 12:44 pm

        What’s the matter, Velma; is your email link to the DNC down?

      • Amazona July 31, 2011 / 5:23 pm

        Nah, Vel’s got other fish to fry, trying out her own sick version of a Fairness Doctrine.

Comments are closed.