Bond prices are reflecting the lack of discipline by politicians. What a surprise. As Martin Feldstein points out in The Financial Times:
The eurozone periphery is on a risky path to end fiscal austerity and accept larger budget deficits. Portugal is the most recent dramatic shift in that direction; Italy, Spain and even France are also abandoning plans to cut spending and raise taxes.
This move away from budget discipline reflects a combination of popular political pressure, more accommodating bond markets and encouragement from the International Monetary Fund.
E.J. Smith - Your Survival Guy
Latest posts by E.J. Smith - Your Survival Guy (see all)
- The Tactical Nightstand - September 30, 2016
- Should the Colossal Dodd-Frank Law be Repealed this Minute? - September 29, 2016
- 5 Ways to Improve Your Prepping - September 28, 2016