Ping!
When can I expect the Euro to plunge?
The Europeen Union is a failure. I’ve been yapping to everyone that the NAU will be just as big a failure. It fails because you mix those who care about their country with those who don’t. Those that come here to sponge off us - legal and illegal.
European economy revived by carbon credits - lol
It’s all on track:
Analysis: French study says Europe fading
Published 5/14/2003
WASHINGTON, May 14 (UPI) — Europe is predicted to become a second-ranking economic force over the next 50 years, its share of world output almost halving from its current 22-percent share to 12 percent, a top French think tank reported Wednesday.
Over the same period, the United States is expected almost to retain its 25-percent share, which will by 2050 be matched or even outpaced by China as the world’s dominant economy.
“The enlargement of the European Union will not be sufficient to guarantee parity with the United States,” says the report from the prestigious French Institute of International Relations. “The EU will weigh less heavily on the process of globalization and a slow but inexorable movement onto history’s ‘exit ramp’ can be foreseen.”
At the core, any currency’s value is a reflection of the underlying economy. The dollar is hurt by govt overspending, but as a percent of GDP, it is sustainable. We are also (barring a Hillary or McCain victory) mostly a true market economy. In other words, the dollar and the US will survive.
The Euro and Europe on the other hand are a different story. Systemic unemployment that we would consider to be a sign of a recession or even light depression, socialist welfare states, rabidly anti-business socialism, Islamification - the list goes on and on. Europe is failing, and as goes Europe, so will the Euro. Maybe the Euro has an upside in the short term, but it will fail in thing long term.
eastern europe knows tyranny and they will show the rest of europe the way.
Where have we heard that before?
The popularity of inflation and credit expansion, the ultimate source of the repeated attempts to render people prosperous by credit expansion, and thus the cause of the cyclical fluctuations of business, manifests itself clearly in the customary terminology. The boom is called good business, prosperity, and upswing. Its unavoidable aftermath, the readjustment of conditions to the real data of the market, is called crisis, slump, bad business, depression. People rebel against the insight that the disturbing element is to be seen in the malinvestment and the overconsumption of the boom period and that such an artificially induced boom is doomed. They are looking for the philosophers' stone to make it last. Ludwig von Mises, Human Action.
Of course Mises is not responsible for the Ludwig von Mises Institute.
I hope I'm not insulting anybody's intelligence here, but it's become clear to me that "credit crunch" is, whether they know intend it or not, a euphemism for "the logical endpoint of Central Bank cheap-money schemes".