In the Superman Universe an evil mad scientist made a mistake that created Bizarro Superman. Yes, Lex Luthor was very evil. For more than you ever want to know about Bizarro Superman click here.
Today we live in a modern Bizarro World. While our home planet is not square and all the inhabitants are not clones of Lois Lane and Superman, we do live in a very strange world where German taxpayers bailout Spanish banks.
Officials in Brussels said the contingency strategy to support Spain could be "austerity-lite", rather than tied with conditions like the Greek and Portuguese bail-outs, to restore confidence more quickly. The bail out could be as much as €80bn(£65bn) rather than €40bn Madrid reckons its banks need.
While I understand the fear that is driving these bailouts, it should be obvious that if it can't continue, it won't continue. It is better to "take your medicine" now rather than later.
But instead the powers that be hope to kick the can down the road one more time, they have more money they want to steal. But we have reached the point where we have to cut, we have no choice.
Here is how one Senator puts it. (This is through Karl Denninger.)
Paraphrased, Jim DeMint said:
If you stop the deficit spending the economy craters (~10% of GDP) and if you continue doing it the economy will crater (since you will eventually hit the wall and be forced to stop, and it will be even worse.)
We live in a Bizarro World where living within one's means is "austerity."