From left to right: President of the European Commission Jose Manuel Barroso, one of the Eurogroup Jean-Claude Juncker and the European Council Herman Van Rompuy, German Chancellor Angela Merkel, in the wheelchair, the German finance minister Wolfgang Schäuble.
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Gee, isn’t socialism a wonderful thing.
My take on these international monetary crises is a little more contrarian than the standard hype we hear from Wall St.
If the Greeks were smart they’d do what Iceland did and tell the world bankers who hold their debt to get lost. They’ll pay a big price for their reckless debt but they’ll regain what they lost and that is sovereignty. I’d wager that the central banks of other EU countries and US Fed will come to their aid before they actually leave.
I’m not saying it is right but these international treaties and agreements such as WTO, IMF, and international obligations through our Fed Reserve, that our own USA politicians have signed, steals the sovereignty and rights of us citizens.
The world financiers and corporations want their hooks in and have all countries with weakened sovereign rights and Constitutions through treaties and multi-lateral agreements where citizens lose their rights and power. Our founders warned us about entanglements.
Countries need to be self sufficient and look after their own and be accountable only to their own.
If Greece does leave the EU I will predict that their country will face a significant short term crisis but they will recover just as Iceland did.
All over the world: from Bernie Madoff, to Greece, to “Carbon Credits” - people are being ruined and their wealth is being destroyed. Often done casually by the people in charge.
It’s just amazing to me. Don’t people kill for money? You’d think someone would stop these socialist destroyers.
Search CNBC’s “Largest Debtor Nations” slideshow and loose your cookies after looking at the numbers, especially per capita.
The EU fiasco reveals astonishing delusion on the part of the common mice who simply have no concept of where all the free shit they demand comes from and vote for politicians who roll their eyes, laugh to themselves, and promise them more “free shit” in order to get elected. The voters in Greece (and France) are no different than the bums, deadbeats, and parasites who comprise the Democrat party “base” here in America. And like old Europe’s scum, it is only a matter of time before America’s socialist politicians (the Democrats) also have to admit that they’ve run out of other people’s money.
And they've had how many years to prepare for this?
It sounds like, once again, they have bet on the bailout. And that's what happens when you remove moral hazard as a way of maintaining market sanity. You get a lot more insanity.