[lbo-talk] Gold burg

[parthasarathy kalalesrinivasaranga]

world over  governments are not maintaining fiscal discipline.. they
balancing the budget by just leaving a gaping whole and deficit. They just
pass on the burden to next goverment and next generation. Today's
international debt like the 500 billion from China etc is an accumulated
result of spend thrift .living beyond means of previous governments. .. they
would not just tax and augment the revenue  and lose their next election. ..
so no more printing motes.. they just use the sovereignty of the government
and borrow and be happy in the present.. the fiscal discipline that World
bank insists from developing and underdeveloped countries to be eligible for
loan, should be applicable to advanced economies also. EU tries to do this
without any success...

-- 
paarthasarathy, Bangalore, India