söndag 16 maj 2010

Illinois deep in debt

All focus right now on Eurozone and given how the Euro traded Friday it seems a one trillion dollar bailout will not suffice.That's then usually how these things work. A first round of bailouts will soon be followed by even more simulus packages in what only can be described as a bailout frenzy. So once the dam is opened there is no stopping it. But also in the US there are issues. Now it's the states that can't make ends meet. Illinois simply has stoped it's payments and California (the worlds 8th largest economy and for sure much more significant than Greece) for sure has a very problematic situation. As in fact is the case for most states in the US with only a few exeptions. As these states can not print money it's not unlikely we'll soon see some type of bailouts for these as well.

Conclution - there sure will be a whole lot of money printing going forward.

Illinois Deep in Debt, Doesn't Pay Bills

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