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Archive of entries posted on 23rd May 2011

It could be rough today, as Europe drops. But please don’t panic.

Greece defaults? Portugal? Spain? Illinois? The U.S. Government? This morning the specter has become real. The problem is: Governments spent far more than their income could pay. They went into heavy debt to pay for their spending. Now they can’t pay all the interest on the debt  and probably will never be able to repay […]