Every one to three months, national and world leaders meet to arrive at new quick fixes to tired economic problems. The United States, Greece, and other Eurozone nations have repeatedly used economic band aids such as the two-month payroll tax cut extensions in the U.S., and the long-term refinancing operations by the European Central Bank. Recently, Greece is facing new bond-swap deals to help it avoid debt default per Reuters. In the past Greece has avoided default through legislative austerity measures.
The problems with many of these financing deals, austerity measures, and government bailouts is they do not address the core issues of government gridlock, deficit spending, high national debt, poor economic performance and overall solvency. Real solutions are needed for real problems, and the existing solutions highlight how ill-equipped both the U.S. and European nations are to effectively handle current economic issues.
• AAA: Current average gas price higher than 1 year ago and rising
• WP: 'Carried interest' tax break allows income to be treated as capital gains
• ET: U.S. Banks facing lower 4th quarter earnings
• CB: Global consumers to spend over $1 trillion in electronics in 2012
• Bloomberg: Hungarian 10-year notes near 10% yield
• Reuters: Chinese 4th quarter inflation forecasted at 4%, GDP 8.7%
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