Ummmmm ... well, if I were a druggie, I’d go for some of that stuff the Telegraph is smoking.
And thus the price of oil remained in the 80-90 range.
As I wrote, I may not properly understand what's going on. It seems like two indebted people running up more debt on their credit cards to buy from each other. If so, that doesn't sound like very sound financing to me.
BTW, I used Japan as an example, because it’s national debt to GDP ratio is one of the worst. However, I think European government are pretty much all in deep, too. Germany is supposed to be one of the better ones, but I think its debt to GDP is something like 65%.
“He added: “The eurozone is inching towards solutions. Basically, we do need to see the richer countries, like Germany like Holland, spend some of their resource in propping up the weaker countries of the eurozone.
“Obviously it is difficult for them to do that, it is not a popular thing to do but it is absolutely necessary. “
The problem of course is when the wealthy nations elect leaders who say no to spending. Thats why the unpopular statement. Merkel walks a fine line.
Basically, we do need to see the richer countries, like Germany like Holland, spend some of their resource in propping up the weaker countries of the eurozone.Necessary for whom? And for what purpose? The only people who need this are the Eurocrats. European politicians are betraying their own people and blowing everybody’s savings and retirement funds on this until the entire continent will be bankrupt. And the worst part is that there is no apparent way to stop them. There are no opposition parties promising to stop this madness. No matter who you vote for, all politicians are determined to sacrifice everything for the EUSSR. Democracy has failed.“Obviously it is difficult for them to do that, it is not a popular thing to do but it is absolutely necessary.”
These people are pure evil. Nobody with any understanding of history or economics can fail to see where this ends.
Sigh. May God help us all.
“[Greek government policy is] known as ‘drinking your way back to sobriety’.
The deficit spending the Greek government wants to do is almost-entirely suppressive or neutral to GDP - it is spending by government, for government, on government. The population is shrinking, their internal revenue picture is already dreadful and only getting worse (because they have the worst ratio of producers to consumers of tax funding in the civilized world, and getting worser) and the only way any government of Greece can survive and keep the mayhem in the streets down to acceptable levels is to restore the drunken-sailor approach to public spending that got them into trouble in the first place. This means 14 monthly pension checks a year, retirement at 50 for workers in hazardous trades like hairdressing, and all the other 1,001 ways they managed to bankrupt themselves already.”
http://www.samizdata.net/blog/archives/2012/06/samizdata_addit.html
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And that, Lady's and Gentlemen, pretty much sums it up.
Great, but what to do three months later when it bubbles over again? Typical politicians...they never address the root cause of the problem.
British Prime Minister David Cameron infers that the President of France, Francois Hollende, is bonkers.
http://www.france24.com/en/20120619-frances-hollande-not-amused-cameron-tax-taunt