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To: Libloather

Bottom line: Germany turns its back on debt ridden Europe and pivots its economic attention toward the boundless resources of Russia. The EU and euro are doomed.


3 posted on 05/07/2012 4:18:18 PM PDT by allendale
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To: allendale
Bottom line: Germany turns its back on debt ridden Europe and pivots its economic attention toward the boundless resources of Russia.

Not a chance, not anytime soon anyway. European socialism will muddle along for awhile longer, they can still kick the can down the road a bit further. No one much cares about the future, it's all about the present. Greece will probably demand concessions, and they will get them. European governments know that Greece defaulting and/or leaving the Euro would start the domino's falling, and they are simply not prepared to allow that to happen. Not yet anyway. There hasn't even been any real austerity in France anyway (other than raising the retirement age from 60 to a whopping 62). Europeans are so wedded to the social welfare state that simply not spending even more is enough to throw them into a tizzy. Those systems will keep right on going till they completely collapse - and the governments and traders will keep the status quo going till the final possible moment.

Sites like Zerohedge keep predicting doom, and it keeps not happening. I don't think people realize that logic doesn't apply. The selfish socialist mindset is all about the moment. The governments, banks, auditors, etc, will keep gaming the system to keep it afloat. When it crashes, it will REALLY crash - but that could still be awhile off.

6 posted on 05/07/2012 4:54:53 PM PDT by Longbow1969
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