Cliff Küle's Notes:

Cliff Küle's Notes Reflections on our world & its money (The Great Confidence Game)

Apr 20th 2013, 23:57 Austerity is a Consequence,  not a Punishment (AE) John Mauldin's latest newsletter explains how austerity is not a punishment intended to be inflicted upon a country, but rather a consequence of its economy & debt levels ..  "Austerity is a consequence, not a punishment. A country loses access to cheap borrowed money as a consequence of running up too much debt and losing the confidence of lenders that the debt can be repaid. Lenders don't sit around in clubs and discuss how to "punish" a country by requiring austerity; they simply decide not to lend. Austerity is a result of a country's trying to entice lenders into believing that the country will change and make an effort to restore confidence." Click "Mauldin April 20" to download Mauldin's letter (may need to provide your email address), or hit "View Fullscreen" at the bottom next to the Scribd logo to enlarge viewing .. John Mauldin, Best-Selling author and recognized financial expert, is also editor of the free Thoughts From the Frontline that goes to over 1 million readers each week. For more information on John or his FREE weekly economic letter go to: http://www.frontlinethoughts.com/learnmore Mauldin April 20

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