Scrubbing out the bad stains

[thunderdownunder]

The WSJ was in my mind a paper that would give me an honest and fair overview.
The following has caused me to cancel subscription. If you print an excerpt, you must do it in full and unchanged. This is a blatant (and I hope illegal) attempt to scrub the News.

The original is here

http://portti.iltalehti.fi/keskustel...d.php?t=510061.

Zero hedge also has kept it here.
http://www.zerohedge.com/article/tru...-more-bailouts - which came from above.

Yet this is what I read.
http://online.wsj.com/article/SB1000...503980120.html.

The Market Ticker has saved me time and Highlighted the changes but I cannot transfer it without losing the bold. so you will have to go to the site.
http://market-ticker.org/akcs-www?post=185817
The Chairman is no fool but I suspect he will be brought to heel sooner than later.
But why would the WSJ do such a thing? further after reading the original, I was shocked by what he said. My understanding was the PIGS thing was contained and the bailouts had every chance of correcting the largess. If what he says is a true - especially Spanish property account and the dirty tactics used by banks to usurp nations sovereign rights - we have all been hoodwinked. Yet it is more frightening to come to a realization that America is slowly losing its well written Bill of Rights set out in the Constitution.
Specifically....
First - " or abridging the freedom of speech, or of the press;"
Fourth - "Protection from unreasonable search and seizure" - TSA
Eighth - "cruel and unusual punishment." - Water boarding
Or am I being alarmist unnecessarily ?

[Starving Steve]

Re: Scrubbing out the bad stains

As usual, I am lost. The PIGS have had a real estate bubble and a green energy bubble, both fueled by a cheap money bonanza from the European Central Bank. Finally, the reckoning has come, and interest rates are going to go up substantially. This is not a conspiracy. This is exactly the right medicine for the disease of bubbles caused by too cheap of money. The bubbles are going to be popped, and this is going to be painful. It is meant to be painful.

The PIGS will come back to reality. Their green energy projects will go bankrupt because such projects were never viable in the first place. The outrageously over-priced real estate in the Club Med countries of southern Europe will be re-priced to what people can afford to pay and closer to what people actually do pay in North America for real estate.

The wrong central bank policies have sent the wrong messages to markets by keeping interest rates too low for too long.
If the public has any reason to be outraged at this reckoning now, it is that central bankers have tried to interfere with corrective market mechanisms for too long, and they have made the inevitable reckoning more painful than it otherwise needed to be.

[Slimprofits]

Re: Scrubbing out the bad stains

Thunder, you should ask them what the fuck, the response would surely be interesting.

[Starving Steve]

Re: Scrubbing out the bad stains

No-one is stopping any of the PIGS from re-issuing their own sovereign money again. But what do you think their own drachma or pasetas or escudos or whatever would be worth, especially being lent-out by their banks at zero interest rates to finance bubbles?

There is no way out of bubble disease except to swallow the bitter medicine of high interest rates and tight money. And I think that is what the nationalists in Europe are upset about; they want their bubbles and easy money back.