"Corporate chiefs from across the continent reveal frustration with a fumbling political response to the sovereign debt woes, forebodings of a liquidity crunch and an outlook blighted by fears over a break-up of the single currency."Accordingly to this headline, the politicians are the ones that should be roasted. The OWS and other global #Occupy initiatives have got it all wrong. No wonder then that the reality is they really didn't get much traction during the Day of Rage. Debt requires income. Income requires production. The fact of the matter is that increasingly, the elevation of debt levels have not led to a concomitant elevation of production. A wall in the debt-production efficiency equation has been reached and is looking increasingly more difficult to climb. So while the politician certainly have played a role in this 'current status', I would not be looking to them to change or fix things. Time horizons for politicians are vastly different that those for capital investment and long term positive outcomes. And generally not that conducive to getting it right when it comes to business and efficiency.
Monday, October 17, 2011
Yea, its the Politician's that have screwed this up, right! (FT)
Business and the euro crisis: A turn for the worse