Posted on 05/19/2010 9:18:04 AM PDT by blam
Volcker: What You're Seeing In Europe Is The Future Of America
Vincent Fernando, CFA
May. 19, 2010, 12:13 PM
Europe's current problems should be a huge wake-up call for America, says former federal reserve chairman Paul Volcker.
Reuters:
"If we need any further illustration of the potential threats to our own economy from uncontrolled borrowing, we have only to look to the struggle to maintain the common European currency, to rebalance the European economy, and to sustain political cohesion of Europe," Volcker said.
...
"There are serious questions, most immediately about the sustainability of our commitment to growing entitlement programs," said Volcker, who heads an outside panel of experts advising Obama on the economy.
Europe shows government hand-out spending has its limits, even if it can look sustainable for a long time. The same goes for budget deficits and growing government debt. America's not quite there yet, but Europe is a nice peek at one potential future best avoided.
[snip]
(Excerpt) Read more at businessinsider.com ...
This can all change if we change Congress. We don’t need to be putting up with this. It could hurt a lot but it’s our duty to fix things now and not put it on our kids. Part of that duty is to make sure our country keeps to the Constitution.
The Euro-peon-ization of America rages on!
We don’t want to pay for what we spend, be it wars or welfare. So it goes.
Yeah Volker, but you never said a damned word while you were advising 0bama during his campaign.
STFU.
.
The problem is the nanny state.
It’s not complicated. The economies have been sucked dry by the need for transfer payments.
So Volcker therefore is proposing a Euro-style VAT tax for the USA?
Todays “No Sh@#, Sherlock” award goes to Paul Volcker, that Liberal Globalist nutjob who says the US will soon be like Greece
Of course, for years, Liberal Free Trader Globalists like Volcker have been working to do grave harm to America....remember that Volcker was the first one to “run” Iraq after the war...and screwed that up.
Only difference between Greece and ths US is that the IMF, World Bank, UN, NAFTA, WTO, CFR, Bilderburgers, etc....are not going to bail out the US when it crashes. Liberal Free Trader Globalists are only set to trash the USA.
Fine. The solution is obivious. Cut EVERYTHING: spending, taxes, government pay, regulations and compliance costs, military commitments, etc.
Let the markets sort themselves out and the survivors move forward.
The Gods of the Copybook Headings
AS I PASS through my incarnations in every age and race,
I make my proper prostrations to the Gods of the Market Place.
Peering through reverent fingers I watch them flourish and fall,
And the Gods of the Copybook Headings, I notice, outlast them all.
We were living in trees when they met us. They showed us each in turn
That Water would certainly wet us, as Fire would certainly burn:
But we found them lacking in Uplift, Vision and Breadth of Mind,
So we left them to teach the Gorillas while we followed the March of Mankind.
We moved as the Spirit listed. They never altered their pace,
Being neither cloud nor wind-borne like the Gods of the Market Place,
But they always caught up with our progress, and presently word would come
That a tribe had been wiped off its icefield, or the lights had gone out in Rome.
With the Hopes that our World is built on they were utterly out of touch,
They denied that the Moon was Stilton; they denied she was even Dutch;
They denied that Wishes were Horses; they denied that a Pig had Wings;
So we worshipped the Gods of the Market Who promised these beautiful things.
When the Cambrian measures were forming, They promised perpetual peace.
They swore, if we gave them our weapons, that the wars of the tribes would cease.
But when we disarmed They sold us and delivered us bound to our foe,
And the Gods of the Copybook Headings said: “Stick to the Devil you know.”
On the first Feminian Sandstones we were promised the Fuller Life
(Which started by loving our neighbour and ended by loving his wife)
Till our women had no more children and the men lost reason and faith,
And the Gods of the Copybook Headings said: “The Wages of Sin is Death.”
In the Carboniferous Epoch we were promised abundance for all,
By robbing selected Peter to pay for collective Paul;
But, though we had plenty of money, there was nothing our money could buy,
And the Gods of the Copybook Headings said: “If you don't work you die.”
Then the Gods of the Market tumbled, and their smooth-tongued wizards withdrew
And the hearts of the meanest were humbled and began to believe it was true
That All is not Gold that Glitters, and Two and Two make Four
And the Gods of the Copybook Headings limped up to explain it once more.
As it will be in the future, it was at the birth of Man
There are only four things certain since Social Progress began.
That the Dog returns to his Vomit and the Sow returns to her Mire,
And the burnt Fool's bandaged finger goes wabbling back to the Fire;
And that after this is accomplished, and the brave new world begins
When all men are paid for existing and no man must pay for his sins,
As surely as Water will wet us, as surely as Fire will burn,
The Gods of the Copybook Headings with terror and slaughter return!
Paul Volker still around?
Oh yeah, It said he was advising Obama... Really??
Sounds like he’s out trying to scare Americans into taxing themselves into oblivion with a VAT tax. He can kiss my @SS.
Yes, and the future is now.
Welfare and Nationalized Healthcare? An Imperial Rescript
Socialism? The Gods of the Copybook Headings
Dealing with terrorism? The of Grave of a Hundred Head
Tactics (and RoEs) in Afghanistan? Arithmetic on the Frontier
How do deal with savages once they're subdued? Kitchener's School
Fascism and Communism? Macdonough’s Song
Diplomacy? The Peace of Dives
The duties of Manhood? If
etc.
The wisdom of the ages is accessible to all in Kipling's poems. The world would be a better place if every Congresscritter and elected official had, and read on regular basis, a copy of Kipling's collected poems.
Shouldn’t Mr. Volcker have said this, oh, I don’t know, maybe in September 2008? Just piling on now is kind of like the undertaker calmly taking your measurements and informing you that the coffin will be ready any moment now for your convenience.
Europe is headed for great unrest. But of course, that is likely the destination of the world. Mars from Olympus is looking down upon the world. He asks Vulcan to sharpen his sword and repair his armor.
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