Posts Tagged ‘PIIGs’

  • The US is again hitting its debt ceiling.

    Some Greek Math

    Aug 24, 12 • 267 Views • No Comments

    With a euro zone update on Greece unfolding (they might lease some islands but we’ll get to that in a moment), here is some Greek math that Michael Lewis presents in Boomerang. Referring to the deficit, during October 2009, the Greek government thought...  [read more]

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    More of a Contagious Disease

    Nov 23, 10 • 217 Views • No Comments

    From FT.com: “The Irish say they are not Greece. The Portuguese say they are not Irish. The Spanish finance minister said last week that Spain is not Portugal. There are no prizes for guessing what Italy is not.” Also, This BBC article does a good...  [read more]

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    The PIIG’s Progress

    Nov 3, 10 • 231 Views • No Comments

    Almost everyone seems to be debating the same issues. Spend less, tax more, or both? Now perhaps Portugal has made some progress. Hoping to bring its budget deficit down to 4.6% of GDP in 2011, their VAT will ascend to 23%. But will they cut public sector pay...  [read more]

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    A Contagious Disease

    May 6, 10 • 244 Views • No Comments

    Seeing the Bloomberg Businessweek headline, “Greek Contagion Spurs Surge in Portugal, Spanish Debt Swaps,” I started thinking about diagnosing fiscal illness, treating it, and contagion. How can we diagnose the illness? The illness...  [read more]

  • PIIGS at the Trough

    Feb 9, 10 • 239 Views • No Comments

    Debt can be complicated. 1.National borrowing is good. It leads to growth and recovery. In 1792, Alexander Hamilton said that a national debt could be a blessing. In 1936, John Maynard Keynes said that debt was good. Each realized that using someone else...  [read more]