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The Real Trouble Spot

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The game

Max Keiser makes the point that if you look at the numbers the UK and Japan are actually in worse shape than the Eurozone.

He also makes the point that many of the Eurozones problems are being created by the European Central Bank doing exactly what the Fed is doing in the US: taking dead assets off the balance sheets of favored banks and paying for them with tax payer money.

We will be revisiting this topic again tomorrow because it is the key to the whole banking crisis: the tax payers taking on the burden of covering massive losses for a handful of crooked and inept banks.

Your government at work.