Economy

Debt Crisis: Greece, Portugal, Spain . . . ?

WSJ.com Alert:

S&P downgrades Spain to ‘AA’ with a negative outlook, saying the country is likely to have an extended period of subdued economic growth.

Markets react:  DJIA plummets from +23 to –22 in seconds after S&P drops Spain’s debt rating. And the sovereign debt nightmare is only beginning.  The UK is next.  But the USA borrows more money faster than anyone, and Socio-History blog ain’t happy:

As I pointed out yesterday, US debt threatens to end the economic stabilization.  You cannot borrow your way to prosperity.

Author: William Hennessy

Co-founder of St. Louis Tea Party Coalition and Nationwide Chicago Tea Party Persuasive design expertLatest book: Turning On Trump: An Evolution (2016)Author of The Conservative Manifest (1993), Zen Conservatism (2009), Weaving the Roots (2011), and Fight to Evolve (2016)I believe every person deserves the dignity of meaningful work as the only path to human flourishing.