Comments on: Save the People; Fail the EU

By: Myron Pauli

Myron Pauli — Thu, 01 Dec 2011 22:46:52 +0000

I attended a “financial planning” meeting the other day at Charles Schwab where some of the conversation dealt with stuff like “a little inflation being a good thing” and good news about “short term bond yields of Goldman Sachs” …. indicative of how the US and European “financial communities” function. The patient needs surgery but instead is handed more painkillers instead of taking care of the gangrene …. – oh yes, the patient will eventually die but he feels better for the short term on the painkillers.

The market rebounded as a “consensus” decided to print more paper to back up the debt (e.g. issue new debt) and prevent cuts/default/restructuring and all the “evil” stuff.

I don’t know how these tens of trillions of dollars of bull**** can be swept under the rug but for the time being, the world is happy to just buying bigger rugs!

By: Jim

Jim — Thu, 01 Dec 2011 16:46:00 +0000

Here, here Ilana.

To put the Euro crisis in perspective, Greece represents about 3% of Eurozone economic activity or about LA in relation to the American economy. If LA can topple the banks, it is time for them to go down for they are too leveraged.

Even more sobering, the current crisis is only the wind before the storm; all western European governments are structurally bankrupt. Forget interest rates. Debt rollover alone by 2040 will consume 20% of world GDP.

The socialist debt driven model is dead. It is time to unwind and restructure. Now.

By: Dennis

Dennis — Thu, 01 Dec 2011 14:04:16 +0000

AIN’T CENTRAL PLANNERS, PLANNING, AND CENTRAL BANKS WONDERFUL!?!?

http://mises.org/daily/5713/The-Market-and-the-Distribution-of-Wealth

When will citizens everywhere WAKE-UP to Economic / Monetary realities?

http://www.niallferguson.com/site/FERG/Templates/General.aspx?pageid=194&cc=GB

HISTORY REPEATS.

By: Eric Zucker

Eric Zucker — Thu, 01 Dec 2011 10:38:43 +0000

“Cui Bono?” Who stands to gain from saving the Euro as demanded by the politicians? Certainly the politicians and bureaucrats with retention of power by the former and sinecures for the latter. And–lest we forget, the advantaged banksters, who have their losses backstopped by the combined public purse of half a continent held hostage.

Bankster interest, commissions and bonuses from public debt stay bloated. The padded potential for pelf remains. Increasing interest is extracted from the profligate PIIGS who get much larger lines of credit than they would without the Euro.

The responsibility and character of all participants who willingly entered into this debt debauchery is suspect. It’s a tragically ironic tale of pimps, whores and Johns. The pimps are the interest demanding banksters. They take interest payments from politician-whores who collect it screwing the citizen-Johns.

The citizen-Johns shouldn’t expect a “happy ending”.

By: Michael Marks

Michael Marks — Thu, 01 Dec 2011 02:48:16 +0000

It just doesn’t get any clearer than your summation.