How about real austerity? Real growth?

Today, we introduce a new twist on these Daily Reckoning remarks… The new approach is that we are going to write less. Yes…we promise! Long term Daily Reckoning sufferers have heard this before. But this time, we really mean it. Honest injun.

And to prove we are serious, we’re keeping today’s comments to just two pages…And only one subject. An old one.

We live in a world of frauds and counterfeits…bunkum and claptrap…

That’s what makes it so much fun! It brings tears to our eyes one day…and seizures of laughter the next. So many imposters…so little time.

As you know, neither Europe’s austerity policies nor America’s growth policies have worked. Why? Because they are both phony.

Read more: http://feedproxy.google.com/~r/dailyreckoning/~3/uO4V_h-JO58/#ixzz1y214aEEm