...just not on purpose.
It was said that the E.U.’s existence was justified in the name of preventing the return of nationalism and fascism to European politics. Well, as a result of the austerity terms imposed upon Greece by their European cousins in Brussels and Frankfurt, Greeks just put a full-blown fascist party into Parliament.
Engaged observers who otherwise were content with that central bank apathy awake to the possibility that flexibility for the Federal Reserve comes at the price of individual flexibility. More power for Chairman Bernanke necessarily means less power for you and me.
If you're at a table full of politicians and you can't find the scapegoat, it's you.
There will never be a failed US Treasury auction... until there is