Ireland Shows Path Out of Debt, Debunks Keynesianism, Confirms Research

August 3, 2011


Wilbur Ross purchased a large chunk of the Bank of Ireland, and appeared on CNBC to explain how Ireland has managed to reduce government debt and grow their economy despite reducing the size of the government and fighting tax hikes.  The Irish example confirms the findings of a 37 year study on successful restructurings, and debunks the Keynesian recommendation for increasing the size of the government and to forget about the debt. The lesson for investors, is that any policy proposals to the contrary for the US, will not work.

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