Politicians across the globe are assuring us that:
1) The “recovery” is either here or right around the corner.
In fact, it is neither.
2) Remaining in the EU is the best option for Greece, Spain, Italy (and France).
It is not.
3) Soaking the rich is the answer to a multitude of problems.
4) Raising taxes will generate the necessary revenue without having a negative effect on the economy.
5) Future promises of entitlement payments are solid.
They aren’t. Defaults are inevitable.
Meanwhile, the central bankers of the world are promising us that:
1) Interest rates will remain low for a very long time.
In the end, it’s not central bankers’ choice to make.
2) Quantitative easing has no ill effects and can be withdrawn at will without causing any problems.
It can’t be.
3) Printing money will not translate into higher inflation.
It will. It just hasn’t yet.
4) They will do “whatever it takes,” and that will be enough.
There is a limit to what they can do, and it will ultimately not be enough.
5) They are all in this together.
They’re not. It is every man for himself now, and the Fed will screw them all.
(For the full article, click the link.)