Hungary is in a recession, again. According to the chattering classes, as well as many analysts and financial reporters, fiscal austerity is the cause of Hungary’s slump. Nonsense. Hungary’s recession results from its slumping money supply.
Note to the Federal Government: Champagne bubbles are good. The bubbles you've been giving us? Not so much.
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