Posted on 06/29/2012 9:04:00 AM PDT by Perseverando
bfl
marker
Thoughts, gentlemen?
Everything is too big to fail until it ALL falls.
realistically, how much longer can Germany kick the can down the road?
I’ve sort of followed Jim Rogers at least since the early nineties when he lived here in the United States. I don’t remember any time in which he saw smooth sailing and blue skies in the future.
Monetary system collapse..........well I guess that’s one way to get rid of Obamacare.
Solutions are: (A) Take the credit card away, tell Dad what the girls have done, have daughters get part time jobs and pay off the debt - while the family does without - - keeping payments current.
OR (B) Don't tell Dad. Call Credit Card Company and have limit raised so things will 'appear' OK for another 12 months...
Rogers thinks the (B) will be a disaster down the road. He's right.
If you look at the world stage the pieces are being set for war.
War is the ulimate economic reset tool and only the enmemy gets blamed not those who caused the mess in the first place.
But it's perfectly ok for the Federal government to spend (our) money they don't have and tax its subjects for any goods or services it deems essential.
Jim Rogers kicks butt. He fled the US a couple of years ago with his family after seeing what obama was up to.
Sorry Jim, you don't understand stimulus. If I lose my job then I have to run up my credit cards to the limit, spending money I dont have, to stimulate the economy so I can get another job. I can always pay off the debts later by taxing my kids allowance. It's an investment. Just ask Paul Krugman as he got an award for logic like this.
—realistically, how much longer can Germany kick the can down the road?—
Until their people start rioting.
—realistically, how much longer can Germany kick the can down the road?—
This whole thing is a bit like a VERY slow motion video of a bunch of rock climbers tied together and one falls. We see each subsequent climber struggle and eventually lose his grip as the first climber pulls him off the rock face, etc.
Eventually, in our slow motion film, we will see the last climber lose his grip and we pan out to see a line of climbers all falling to their deaths.
It looks like it is now sucking in the last, and strongest climber.
And then as the US watches and laughs, we suddenly notice that the end of the rope is tied around our ankle.
Between ObamaCare, Taxageddon, and the resulting social/economic collapse, were now officially over the precipice, we just havent struck the ground yet.
And then we look up and see an avalanche (Obamacare) hurtling down on us as we go over the edge of the cliff.
Rogers is right sometimes and wrong sometimes. This time he is spot on. The issue in Europe is a systemic one that can only be cured with realistic entitlement cutbacks. But Western Europeans are will see their states collapse before they accede to entitlement cutbacks. Merkel has been balking lately at these short term steps of southern Europe papering over their systemic spending problems particularly when they want to use German assets as the wallpaper.
So, when is the next crisis date? In other words, when are the next European bonds due?
My personal opinion is that Western Europe will not cycle out of this problem.They will go from crisis to crisis as their politicians will not be able to say nein to their populus marching in the streets. With the exception of Germany their economies are uncompetitive having burdened their businesses with costly entitlements and overregulation. Look around your house or office. Do you see anything with a made in Europe label? With the exception of Germany much of Western Europe is at the end game and will topple their economies within the next 2-3 years as they have nothing to offer the world other than the few natural resources they may have.
LOL! Excellent analogy!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.