The Watchdog is visiting with pup and puppy in Hungary and also checking on his buried bones. Yesterday he met with government officials and bankers and made it a point to inquire concerning possible early signs of economic recovery.
Optimistic statements when scrutinized amounted to the same news heard here in the USA: The rate of decline is slowing, but still no significant signs of recovery.
The news concerning Germany and Francewas a bit better, with its economy apparently bottomed out and bumping along thanks to strong economic stimulus. France has recently announced plans for massive future stimulus.
Disdain was heard for USA in general and investment houses such as Goldman Sachs in particular which are blamed for generating the worldwide crisis and then profiting from it.
The Watchdog inquired of a representative of an Austrian bank whether he would have preferred that the USA banking system collapsed and a worldwide depression rather than have a few predators making a fortune. The Watchdog also inquired whether the banker preferred massive unemployment and idle industry to growing deficits. An answer to the first question was not forthcoming, and this particularly banker probably would have opted for the worldwide depression.
