Video: Dominique Strauss-Kahn (DSK) Saturday Night Live (SNL) Skit
For more great edutainment check out this video, which is from a year ago and still spot on as nothing has really changed with Europe's debt crisis in the past twelve months.
Greece, Ireland are a tiny part of the European economy. 1) the financial crisis came from the USA and 2) the REAL worry is the incredible USA deficit. Let's face it, the USA is bankrupt. "The US economy is so much stronger than the European economy"? That is actually factually WRONG. The US economy is built on debt and the capacity for US consumer to keep borrowing to consume is fast ending. What will happen then? "People selling Euros to buy Dollars"? Factually WRONG, US Treasury bonds are mainly bought by the FED. China, Japan have been selling of their Dollars over the last few years.
I have not heard a better explanation of Euro- world debt on any news show
ReplyDeleteThe SNL skit was pretty good, but this video is still tops IMO:
ReplyDeletehttp://www.polycapitalist.com/2010/05/everything-you-need-to-know-about.html
It's crap. What explains the crisis, in here? Ziltch
ReplyDeleteGreece, Ireland are a tiny part of the European economy. 1) the financial crisis came from the USA and 2) the REAL worry is the incredible USA deficit. Let's face it, the USA is bankrupt. "The US economy is so much stronger than the European economy"? That is actually factually WRONG. The US economy is built on debt and the capacity for US consumer to keep borrowing to consume is fast ending. What will happen then? "People selling Euros to buy Dollars"? Factually WRONG, US Treasury bonds are mainly bought by the FED. China, Japan have been selling of their Dollars over the last few years.
ReplyDelete