CAPITALISM WITHOUT LOSERS
Ireland has officially been bailed out and will likely agree to several more years of depression and austerity. Bankers win again and Main Street loses. The Bernanke put has now gone global. Central banks will never let anyone lose ever again. Now it’s only a matter of time before Portugal needs some aid – they might as well just start packaging the bailout tomorrow. Naturally, markets are rallying around the globe on this news. If no one ever loses then why would anyone ever be risk averse ever again?