"Miss Me Yet?"
Will there be capital flight to elsewhere in the world? Of course.
If anyone other than our Commie-in-Chief were in charge in the US, that flight would probably be to the US Dollar.
Now the question: How long have the players been planning this and are we capable of repelling the assault on our nation and the world economy.
We are not the protectors of the world economy, but if the US fails after the EU what are the consequences.
George Washington warned us against foreign entanglements in Europe. Is the nation so old that no one remembers his statements?
Ping.
Who IS Spain? Government/Government Users? Catalan Opening?
Who IS the “U.S.” ?
Who IS “Greece” ?
Hug your kids and get ready.
Watch for present bank run to accelerate.
Wouldn’t it be funny, in a sort of diabolical way, if the first and last REAL presidents of the USA were both George W?
Other beneficiaries have been Switzerland (although the Swiss Franc has been driven up so much that the Swiss government has been forced to print to try and drive the Franc back down, it was killing their largely export oriented economy), the Canadian Dollar and the Australian dollar. Some benefit to certain South American countries that have commodity based economies but not quite so pronounced, Brazil for the most part.
I've been of the opinion that the Euro won't be allowed to fail and still am, but the level of almost hysterical rhetoric has gone mainstream, rather than remaining the purview of writers of blog headlines, so I'm going to have to take a long hard look at currency exchange rates tomorrow.
The Spanish folded like lawn chairs when the muzzies gave them a little push. Just drama queens, nothing to see here.
"Miss Me Yet?"
Spain just needs more “green jobs”. And unicorns.
Well, good gravy. After two WORLD wars, ... and Korea, ... and Vietnam? And now our marriage made in hell with China? Is that why you were careful to say "Europe" ? Because Washington would no doubt have been cool with ASIAN entanglements?
A few reasons. First and foremost, we can print more money. Spain can't. And that's the big problem for the PIIGS, what they really need to do just print more currency. The value goes down, so does the value of the debt they have. Sure, prices go up, but that's how floating fiat currencies work.
Spain doesn't have that option. The value of their national debt is tied to the economy of Germany and France and Denmark.
Our economy is just tied to the world's largest economy, us. And we do have loads of things the rest of the world really does want. Most of all, 225 years of solid stability. Even during the civil war, the rest of the world knew where the leader of the United States was.
Where's the leader of the EU? A floating presidency doesn't make for a leader.
Sure, they could fly to some of the small economies, but none of them can absorb all that much influx of cash. The Swiss are constantly battling assaults on their economy from people trying to flee to a safe haven. The Swiss are more than happy to hold their cash...in foreign denominations, thank you very much.
Yes, it's getting harder - the increased socialism and outright embezzlement of public dollars by public employees isn't going unnoticed elsewhere. But it isn't as bad as elsewhere yet, which gives investors some confidence in the US economy overall.
So, yes, the EU can go away. The Euro can go away. The PIIGS will demand loads and loads of benefits from others, and lots of banks will take a big hit, but the US economy can and will keep on rolling on. Then again, so will the German economy, and the French economy might be shaky, but it'll keep going, and the UK will look like a genius for avoiding the whole mess in the first place.
Kick out the PIIGS, EU - Save your currency, or get ready to mint new currency - The Euro’s about to be worth a whole lot less.
If Europe is in de Nile, where’s Egypt?
A lot of French sailboats are arriving in Florida, I can tell you that much.
Its all going according to plan.
First you create “free trade areas” via treaties, which supersede the constitutional law of individual nations.
Then, you move to a “common currency” because it would make commerce so much easier.
Then, drive the partners into crisis with their phoney money, and offer the notion that “without political union, the monetary union can’t work. And if the monetary union fails, it will be the end of the world!”
Lambs to the slaughter.
It’s all Francisco Franco’s fault. Wait a minute: newsflash-he’s still dead.
I hear ya, but I’d go even further and state we must not only avoid foreign entanglements, but we MUST avoid imitating foreign nations to the complete dismissal of our founding documents and principles.
Communism, Socialism, Marxism..., these things don’t work, they’ve been proven not to work, and yet we find ourselves deeply entrenched in them here in the U. S.
It’s downright infuriating!
The begining of the end for the EU.
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| "The basic question is that a German has to increase working from 65 to 67, and that is to pay for Greeks retiring at 50. The 17th of June is the perfect opportunity to say either 'we’ll behave' or 'we’ll carry on cheating'." -- Nick Dewhirst |