U.S. public sector debt deleveraging conflicts
U.S. public sector debt deleveraging conflicts with hopes of strong 2012-13 demand growth, and political leadership appears risk-averse in the run-up to next November’s elections. Meanwhile, European “leaders” continue to:
- Try and hold together Euroland membership
- Reject the notion that the euro is fundamentally flawed
- Resist the intra-European subsidy implications of a European superstate
- Deny the impossibility of adjusting […]