Tuesday, November 8, 2011

Buy Now, Pay Later


As of today (Nov. 8) Greek bonds are yielding 200%. That is a good return if you can stand the risk. The quote on my photo, by Ambrose Bierce, is an indication of what has been going on there for far too long. But before we point a finger, we (Canada) do this too, but on a smaller scale. We trust our governments to borrow enough money to fulfill all their election promises, and they do. No problem. Our grandchildren, who do not even know what is going on, will pay it back. Why? Because they will have no choice. They will remember us fondly.

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