Europe Kicks The Can; Buying Time With Borrowed Money
“No one should take for it for granted that there will be peace and affluence in Europe in the next half century,” Chancellor Merkel. (HT:CNBC) Ka-Blam! The Eurozone is saved. They’ve found just the right drug cocktail of financial bailouts. The markets are all a screaming buy!1!1.(/sarcasm off) If only this were the truth. The reality here is that the Europeans will destroy a bunch | Read More »
Nationalism Will Kill The Euro
“If the euro fails, then Europe fails.” – German Chancellor Angela Merkel (HT: The Economic Collapse) The Euro has its issues. It combines 17 disparate currencies into one. This group of nations is known as The Eurozone. The Euro works based upon a framework of internal limits that Eurozone members would adapt. The agreement was that no Eurozone member would take on annual public debt | Read More »
The Veneer Wears Ever Thinner and There is Nothing Underneath
This explains the level of buy-in Barack Obama received in 2008. A lot of frightened and disillousioned people were convinced he could lead them somehow to safety. He can’t because he is unable and because he is also unwilling to do what this requires.
“Bail-outs” and “Stimulus Packages” dance around this question. They are a fraud in the same sense that James Kunstler spoke of swindles and frauds. If everyone can just keep holding on until one day after election 2012, everything will magically start to get better. Yet the veneer and the slickness where thin, and increasingly more Americans see that nothing is there underneath. What then? Our next two elections will be all about deciding that question.
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