19 May 2010

Ein Gespenst geht um in Europa

As a follow-up to Sunday's post on the European economic crisis turning political, I can't resist linking to these three items from the British press:

The US Senate has voted 94-to-0 to block the IMF from partici-pating in the Greek bailout. Endless German money may be poured down the rat-hole of propping up the failing euro currency, but American money will not be.

Investors world-wide, worried about the European and Chinese economies, are flocking back to put their money into US debt instruments. They know where the real safe haven is. This will make it easier for the Obama administration to manage the US deficit until our economy is fully re-stabilized.

British analyst Ambrose Evans-Pritchard thinks that the EU's growing "fascism" will soon force Britain to leave.

Looks like things are about to get very interesting over there.


Blogger Ranch Chimp said...

Good Morning Mr.Infidel .... Of course the US Senate will vote to block any funding, does anyone think that they would actually support any funding in Europe? Either Party for that matter or any politician for that matter, especially during 2010 election's with all the threat's from now Teabag's, etc? We are alway's told how they "vote" (yet damn near everyone is "bought", you see this constantly) etc, etc, but my concern is, how much do we actually see or is transparent of what were told? I mean .... there is no way to indirectly get funding out of the US because they "vote" this way? With all the stealthy legislative way's thing's in the past been done? Even having it done through some investment offshore through the private corporate sector, then some how that sector getting reimbersed covertly through tax legislation? There is no way? I will believe it when I see it. I hope your correct.

Thank You Sir ........

19 May, 2010 05:33  
Anonymous amadmike1 said...

I hope you are correct also my friend. I have become the ultimate cynic.

19 May, 2010 14:12  
Blogger TomCat said...

The irony here is that a lot of the European financial crisis can be traced back to US Banksters. I'm not saying we should bail Europe out when so many Americans are also suffering from the actions of these Coroprate Criminals, but we need to stop playing and pass REAL financial reform.

20 May, 2010 12:27  
Blogger Infidel753 said...

My assessment is that the EU is fully capable of wrecking its own economy without any help from across the Atlantic. As to serious financial reform over here, of course I agree!

20 May, 2010 14:39  
Anonymous Anonymous said...

Serious financial reform is simple.

Separate the wall street casino activities from traditional banking. Continue backing the banks with the FDIC, and tell the wall street gamblers that they are on their own, no more taxpayer money bailing them out, and they must provide radical transparency for all to see.

That was the original Volker plan.

Our banksters may be implicated in the European debacle, but they didn't cause it. Profligate deficit spending did. At some point you max out the credit card.

The worst part is the "investors worldside flocking to put their money in US debt instruments."

They are handing an addict a crack pipe. You may want to start studying what's going on in Greece. We don't have cobblestone streets, so you'll have to bring your own.

21 May, 2010 08:00  
Blogger Infidel753 said...

SF: The worst part is the "investors worldside flocking to put their money in US debt instruments." They are handing an addict a crack pipe.

This assumes that the Obama administration is as addicted to out-of-control deficit spending as the Bush administration was, or as the Greek government is. We do not know that to be the case. The deficit spending under Obama so far was necessary to pull the economy out of the Bush recession. All governments apply economic stimulus under such conditions, if they can.

Once the economy is back to normal, we will see whether Obama moves to shrink the deficit as Clinton did, or goes on an unjustifiable spending spree as Bush did.

Anyway, my main point in citing that link was that foreign investors have more confidence in the US economy than in the European or Chinese economies.

21 May, 2010 08:40  

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