Ireland - teh bailed out

Interesting video of Nigel Farage addressing the European Parliament. He agrees with you and expects that Spain will cost 7x what Ireland did and at that point the Euro is finished. It is worth watching for a couple of points he makes even if he ultimately turns out to be wrong.

LINK

Should have kept De Valera's policies...

quote:

---

This is fun.

---

Twisted bro. Twisted.

Some interesting questions:

quote:

---

The question is whether the Eurocrats can beat back the speculators. I find the whole situation much too complex. I can only come up with a list of things that I wish I knew.

1. What is the true state of the large European banks? In particular, if, they had to write down the principal on the debt of the PIGS by, say, 15 percent, which banks would still be solvent?

2. What does the option for inflating away European debt look like? How would the cost of that inflation be distributed? Can the inflation take place within the context of the euro, or does it require that some countries leave the euro?

3. Does a crisis create an opportunity for governments to make radical changes to the welfare state, or is that still not possible?

4. Suppose that governments have to choose between preserving their banks and preserving high levels of spending on public employees and retirees. Which choice is better for the economy? For political survival?

---

LINK

Is the second I for Iceland?

Europe scares the shite out of me.

They burn cars, strike and protest every attempt to turn back their unsustainable model.

Do these people not get it?

Are they even in the same hemisphere with reality?

Yes. It can.

Nature has a plan. The plan is when someone is a baby their parents take care of them and when the parents get old the kids take care of them to return the favor since they can't provide for themselves any longer.

We took that as a species and turned it into stopping work at 56 and having those working fund your trips to Yellowstone in your $45,000 RV.

Belgium cratered today.