Sleight Of Hand

In the run-up to the German elections, the illusionists have been working overtime to persuade the masses that Europe is fixed. But debts continue to balloon – for example Italy, Spain, and the economy still sucks – for example European car sales fell in August, bringing deliveries this year to the lowest since records began in 1990.

Not only is it not fixed, it is getting worse. All that is happening is  that the ECB is concealing the problems by monetizing bad debts.

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