Posted on : Feb, 20, 2010
Dear All,
This has been a week with events. G out of PIIGS cried this week. The term PIIGS stands for European Nations with Debt Crisis (Portugal, Ireland, Italy, Greece, Spain). So far it's easy for us to read the stories of this and even their Nationals are ok as there are Big Countries that can Bail out. Just Imagine who will be there to bail out if Big Nations go in debt crisis, which as we know is inevitable. Of course root causes are our false assumptions about Economy like.
1) More GDP better Growth.
2) More consumer confidence more Growth.
Anyways I will explain national Debt issue due to "Rolling up Debt" and more on terms above in coming updates as have really less bandwidth this week. However for those who can spend some time the Video below is really interesting one.
http://video.google.com/videoplay?docid=3915119166991168859#
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