Wednesday, November 30, 2011

Place your bets ladies and gentlemen


Just a short post to add to the economic fire that's been going on for some 3+ years now. With the trappings of ministers and cabinet members and high level summits we've see all this before only now with a bit more educated eye.

Watch out for words like:
Decisive action = when we can get around to concocting an exact scheme
Conclusive action = It's never over until it's over and even then it's not over
Stability Union = a catchy phrase to make people feel good
Policy = What ever we can come up with that usually isn't part of the law
Financial constraints = figuring out a way to hedge the bet and make even more
Reforms = austerity programs only affecting the poor and middle class

Interesting to note that while the Euro countries trying to develop this bail out plan demand debt limits on the countries that are being bailed out, they are by this act creating more debt upon themselves by loaning the money. And in the process are borrowing most of the money to do it. But they are not satisfied with spreading the debt amongst themselves within the European Union. They plan to sell bonds on the open market. Ooow is this starting to sound familiar? Seem to recall some mortgage investments that were papered across the globe. And like the proverbial game of musical chairs whoever gets stuck with the worthless paper in the end looses.

5 comments:

Randal Graves said...

Your post is double plus ungood but then again you've always been at war with Eastasia.

MRMacrum said...

My policy is to ignore constraints of the fiscal kind. It appears Europe is finally getting jiggy with it also. Plastic rules, real money drools.

an average patriot said...

It's a frigging shell game. The house of cards Bush built is still in the beginning of crashing down and once again we are taking the world down with us while blaming it on everyone else.

BBC said...

I have nothing to worry about unless my SS money goes away, it's more than enough for me to live on with my chosen lifestyle.

The Blog Fodder said...

Not being a conspiratorial theorist (hah) but did it ever occur to you that the Euro might have been a challenge to the dollar? Hence it was necessary to destroy it.
We tend many times to blame things on conspiracy that are actually a result of stupidity, so maybe the Euro was doomed from day one.