June 28, 2015

GREECE RUNS OUT OF OTHER PEOPLE’S MONEY: “In addition to Margaret Thatcher’s famous maxim about socialists eventually running out of other people’s money, there is also Stein’s Law. This was coined by Herb Stein, chairman of the Council of Economic Advisers during Richard Nixon’s presidency: ‘If something cannot go on forever, it will stop.’ And the problem of the Eurozone’s weaker nations expecting bailouts from their rich neighbors obviously cannot go on forever. So what happens when it stops? We don’t know.”

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