Text 20297, 102 rader
Skriven 2011-07-01 05:35:00 av Lee Lofaso (2:203/2)
  Kommentar till text 20259 av Robert Bashe (2:2448/44)
Ärende: What a day!
===================
Hello Bob,

RB>Well, the Greek parliament passed the emergency austerity measures
RB>of the government, and for the present, the Euro (and the EU) has
RB>been saved. Only time will tell what happens now.

Riots!  (translation: time to party)

RB>The reactions are frightening, however.

Riots!  (translation: time to party)

 RB> The Greeks are furious, not only at their own politicians but mainly at
the
 RB> Germans, who have never ceased to pat themselves on the back at their
 RB> economic recovery and berate the Greeks for "sponging", "being lazy",
 RB> "taking too much vacation" (this from Ms. Merkel, who hurriedly became
 RB> silent after she was told that Germans have more vacation than Greeks),
and
 RB> advising the Greeks  - as if most of the latter didn't realize their
 RB> difficult situation - how _they_ should act. Naturally the Greeks, in
their
 RB> present situation, resent such attitudes bitterly.

"Beware of geeks bearing gifts." - Ancient Grecian Proverb

 RB> The Germans, on the other hand, are screaming about "handouts" to
"deadbeat"
 RB> Greece and worried about having to pay even more to keep Greece afloat.
 RB> Many think the Greeks should leave the Euro zone (how? the treaties don't
 RB> provide for such an event)) and everthing will be just fine. Most also
 RB> propose a return to the DM. A recent poll indicated that around 70% of
 RB> those asked would prefer the DM to the Euro.

Germany has always been the catalyst (economic engine) of Europe.
France has tried, from time to time, to take the lead from Germany.
And Italy has longed to return to the days of Empire.  But everybody
knows it is the Turks who rule Europe, as it is the Turks who work
so slavishly in Germany to keep that economic engine running as it
should (Americans have Mexicans, Germans have Turks).

 RB> Few on either side consider the consequences of a Greek default, or - if
 RB> even possible - a withdrawal of Greece from the Euro zone. That,
naturally,
 RB> would produce economic chaos not only in Greece, but in the entire EU and
 RB> probably throughout the world. In case of a withdrawal, the value new/old
 RB> Greek currency, the drachma, would drop through the floor and Greece would
 RB> be forced to default on all outstanding Euro-denominated bonds. That, in
 RB> turn, would not only kill any hope of Greece managing to borrow on
 RB> international markets in the forseeable future and drive both inflation
and
 RB> unemployment to record heights, but
 RB> it would also put many large banks in the EU - mainly in France and
Germany
 RB> - into bankruptcy and they would have to be bailed out, costing additional
 RB> funds the respective governments simply don't have.

Banks, being too big to fail, will continue doing things their own
way, knowing that government will bail them out no matter what.

 RB> American banks, that have been leading the way in default swaps, would
 RB> similarly be in trouble, although nobody really knows how bad the
situation
 RB> would be.

Another worldwide depression.  Maybe even worse than the 1930s.
Fortunately for the world, America has another FDR in Barack Obama.
And like FDR, Obama will save the world from itself, despite the
best efforts of Republicans to derail his mad plan of world
domination.  See there?  I did NOT say world conquest...

 RB> In the case of Germany, a return to the DM would be similarly disasterous,
 RB> since the exchange rate of the DM (to the dollar and whatever is left of
 RB> the euro) would then go sky high, effectively pricing German exporters out
 RB> of foreign markets and killing the mainstay of German prosperity - goods
 RB> export.  A steep recession and large-scale unemployment would threaten.

There is only one solution to this madness.  Europe has to make
more babies.  So does the USA.  Otherwise, folks from third world
countries will take over and rule everybody with an iron fist.
Don't believe me?  Look at the population of Italy.  By the year
2100 AD, the population of Italy will decline to under 8 million.
And most of those 8 million will be elderly and incapable of making
babies.  The rest of Europe is also in decline.  Cities are dying.
Look at the eastern part of Germany.  Ghost towns.  Nobody lives
there anymore.  Not even prostitutes.

 RB> Whatever the result, the economic crisis - coming so soon after the crisis
 RB> of 2009 - would not do the world economy any good, and would doubtless
 RB> financially hurt quite a lot of people in quite a number of countries.

We are doomed.  Doomed to extinction.  The Mayans gave us until
December 21, 2012.  And they may be right.  The other day a very
rare event happened.  A white buffalo was born.  A healthy white
buffalo.  It is the last sign of The End.  The End of All.

                      WE - ARE - DOOMED

--Lee

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