Saturday, May 26, 2012

Don't call a financial rescue a bailout, call it a suppression.

By Glen Wallace

I think the term 'bail out' derives from historical practice of scooping water out of sinking ship to keep it from sinking.

Perhaps here, that is part of the problem, where people can't get it out of there heads that this bailing out of countries has some fundamental differences from bailing out a sinking ship. When one is trying to save a sinking ship you simply keep shoving a bucket into the water and heave it over the side until there is no more water on board.

But here dealing with nations 'under water', a better analogy would be to think of the countries as being on fire with only a limited amount of water available to, not remove from their deck, but rather to put onto them in hopes of putting out their inferno.

Maybe if nation bailouts were thought of in this respect, it might actually occur to the EU that one of these times when they turn around to fill up their buckets they'll find the well is dry and now the fire is going to get out of control and spread to their country next.

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