News. MADRID (AP) — Spain will cut civil servants' salaries this year as part of a deficit-reduction plan to ease worries the country will slide into a debt crisis like that of Greece, the prime minister said Wednesday.
My point. Time to pay the piper. Now people have to give back what they received lavishly from their government plus interest.
Will we ever learn? How can we learn? The problem is that there will always be another politician promising bigger and better things and the "audacity of change" and we will believe him/her. And so the wheel turns and the pendulum swings. The survivors will survive and the naive of us will pay.
George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
Ranked Top Market Timer in 2009 and 2010 by Timer Digest
To find out more about my in depth views of the markets and my strategy just visit our website https://www.peterdag.com/ where you can subscribe to The Peter Dag Portfolio. You can also call me at 1-800-833-2782 to discuss your specific money management needs.
I will be happy to speak to your investment group on how the business cycle impacts investment strategies and the choice of asset classes.
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