Tag Archives: Default

Oh yeah, Bailouts are always the answer…

Hmm. Why does the beginning of the Great Depression come to mind?

Euro zone leaders impose an immediate levy that allows them to seize between 7-10% of your money directly out of your bank accounts, for banks in Cyprus. Some people’s bank accounts have supposedly been drained. People running to banks and ATMs to pull out their money. Banks closing until at least Thursday. Stock markets starting to take a dive again.

Oh yeah, because this is almost exactly what happened at the beginning of the Great Depression.