Eurozone debt crisis sends stocks tumbling
The Toronto stock market sold off across all sectors on Monday in another round of worry about the Eurozone debt crisis spreading to larger economies.
Investor sentiment further soured Monday on the possibility that Europe's debt crisis might be spreading to Italy as the yield on government bonds shot up, in contrast to other big economies.
"They're now beginning to address the fact that as we all know Greece won't be able to pay back those loans and the question is, what do you do about it?" added Warne.
While the Eurozone tries to figure out the latest 'bump' in the global 'recovery', America debates raising it's ceiling on debt. All the while, jobs are not being created and the broad population wants to preserve government spending: in almost all countries. Conservatives, now is our chance to argue for a principled approach of lower government spending. Spur job growth by lowering taxes. Stop trying to run the economy through programs and endless regulation. There is no moral victory in the government thinking they are the answer to your economic crisis. We need to get a hold of our budgets, live within our means, then insist the government does likewise. When we take personal responsibility for our lives, we can demand policy that is predicated on a principled approach.
Proverbs 22:7
The rich rules over the poor,
And the borrower is servant to the lender.