Monday, June 11, 2012

Oversimplifying Spain's bailout

It's posted by Robert Smith over at NPR's PlanetMoney. Check it out.

Meanwhile, I can probably make it even more simple that Smith does.

What's going on now is just another round of lend, extend, pretend.

Lend more money to an unsustainable economy.

Extend the time until that economy crashes or collapses from its own unsustainability.

Pretend that the lend and extend efforts will fix what's broken.

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