tag:blogger.com,1999:blog-6616959642391988608.post280427313711821812..comments2024-03-28T00:18:25.641-07:00Comments on Calafia Beach Pundit: A tale of two PIIGSScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-6616959642391988608.post-36325933455920536562011-08-25T13:32:09.852-07:002011-08-25T13:32:09.852-07:00One important difference: Ireland and Greece can&#...One important difference: Ireland and Greece can't print the currency that they owe. But the difference between their outlooks is instructive for the U.S., since it demonstrates the spending austerity can improve an economy's outlook.Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-22657357794239630652011-08-25T12:38:38.881-07:002011-08-25T12:38:38.881-07:00Hmmm.. so how would the US' 2-year yield and d...Hmmm.. so how would the US' 2-year yield and deficit/GDP compare to Ireland and Greece? <br /><br />The answer we all already know: the US has a much higher deficit and a much lower 2-year yield. And as our fiscal situation has gotten worse, bond yields haven't risen, but *fallen*. Perhaps Ireland and Greece aren't such a great comparison for the US?Windchasershttps://www.blogger.com/profile/11554275410734284781noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-31614111573759614652011-08-25T07:24:21.624-07:002011-08-25T07:24:21.624-07:00If only European Govts, and more specifically the ...If only European Govts, and more specifically the southern ones, could take good notice...Vespasianushttps://www.blogger.com/profile/08430697851208423321noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-35870608781281188842011-08-25T05:57:33.129-07:002011-08-25T05:57:33.129-07:00The 32% is correct, except it's a one off, as ...The 32% is correct, except it's a one off, as it included the "mis-guided" decision to bail out the local banks. That done, Ireland's deficit drops down dramatically, in fact on cycle adjusted basis to a surplus. Big difference is that Ireland has taken the gov't expense cutting to heart, while Greece... is getting worse every day.<br /><br />BTW not saying that either Frozen in the Northhttps://www.blogger.com/profile/04901959687094626879noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-70971857575373315482011-08-24T18:52:05.117-07:002011-08-24T18:52:05.117-07:00Excellent, another example of the failure of John ...Excellent, another example of the failure of John Left Keynes...Hanshttps://www.blogger.com/profile/05183141792723754273noreply@blogger.com