News. A $1 trillion aid package from the European Union and International Monetary Fund may delay a Greek default and give Spain, Italy and possibly Portugal time to get their finances in shape, averting a wider contagion, analysts said. Greece’s debt burden is likely to prove unsustainable, said Thomas Mayer, Deutsche Bank AG’s London-based chief economist.
My point. Is the world going to be "owned" by international financial institutions?
A large percentage of the population is "owned" by banks. People work hard so that they can meet their interest payments.
Some corporations work with the only purpose to meet their interest payments.
Are nations ending up in the same position? Are governments and billion of people going to work with the only purpose to meet their tax payments so that the government can pay the interest to the bond holders?
This is really a scary Armageddon scenario. But the trend seems to be in that direction.
George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
Ranked Top Market Timer in 2009 and 2010 by Timer Digest
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