The MOPE irony is the anchors want to all seriously discuss the debt problems of Greece and the other "PIGS" countries without looking at what is staring them all in the face in their own back yard where the biggest, fattest porkers of them all, America and its bankrupt states are sloshing away, drowning under a sea of debt.
How about discussing California, Florida, Illinois, Ohio, Michigan, North Carolina, and New Jersey?
"Each has a population above 8 million people. Each has had to borrow more than a billion dollars, so far, to pay claims out of their now bankrupt unemployment insurance fund. Also, each state currently registers broad, underemployment above 15% as indicated by the U-6 measure for the States. And finally, each state is a large net importer of either oil, natural gas, electricity, or all three of these energy sources."
From "Think the PIGS Are in Trouble? These 7 U.S. States Could Be Heading for Something Worse" by Gregor Macdonald at http://seekingalpha.com/article/187051-think-the-pigs-are-in-trouble-these-7-u-s-states-could-be-heading-for-something-worse
By the way, why was I not surprised when the interview was out of time just as Mark Faber said precious metals will outperform stocks??!!
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