I agree the PIGS should not be asking other countries to bail them out or give them funds. In the same regard we should not be asking or depending on China/Japan and others to buy our debt instruments. However within those countries the ones that made the mess need to eat the loss and that falls squarely back on the central banks and commercial banks. They are the ones that made the bad debts and mal-investment and they are the ones who enable the governments to continue to over spend beyond revenues so they are the ones who should bare the loss. I as an individual did not make those decisions, I did not take on or agree to those debts and I am opposed to spending more than is taken in. However I am told I have no recourse or standing to demand that legislators stop what they are doing therefore I must pay for the mess anyhow. How is this any different that me buying a Corvette and wrecking it with no insurance and demanding you pay for it so I don't have to take the loss. |