On Europe's Trillion

Comments

1
I guess the world has decided they don't want to pay lazy Greeks to work only 10 months a year, 35 hrs a week and retire on full pension at 55.
2

Amazing. If Governments dump the taxes of the middle class into crumbling stocks, then rich dudes will take the money!

Fascinating...who would have thought Euros would follow in Obama's footsteps. Giving money to rich people so they can party on.

Amazing.
3
Capitalism and lifted a athird of the world from grinding poverty and is in the process of lifting the next third of the world from grinding poverty (India, China) that beset man for the last 50 million years. This isn't lasting success?

You would prefer what, exactly? Soviety communism? Anarchism? Unicorns and rainbows?

It's pretty fucking clear that the social democratic mixed economies of Europe are about IT as far as achieving long term prosperity, peace and equity with democracy, freedom and massive opportunity for all.

Here we have the higher income people in Germnay France and Sweden being fucking TAXED UP THE WAZOO to support the more needful economy of Greece. IT's a pretty big "market intervention" and you can't call what it is....pure capitalism. Or a right wing ideology. All the basic structures of the EC are pretty left compared to the USA, with their higher taxes, more regulation and bigger safety nets and equity. Yet you sit there snidely criticizing them.

What do you have to offer that's a better solution?
4
Capitalism is based on a particular rule-set for money. There are several different rule-sets, but all national currencies rely on only one: Positive-interest. (There are also negative-interest, and mutual-credit currencies.)

These rules dictate certain behaviour: Namely, the translation of resource into money, because you can put money in the bank and get more money later (using positive-interest). Whereas you cannot put a tree in the bank and get more money later. (You can get more trees later -- if you don't cut it down now -- but more trees later doesn't necessarily translate into more money, due to supply/demand fluctuations, etc.)

All governments are forced to deal with this type of money that requires the extraction of resources to line the pockets of those who have the means to extract.

What else could the Europeans do in the face of rapacious money markets? Not a whole lot. The deck is kinda stacked. In favor of money.
5
Also, as a quick anachronistic comment:

It always seemed to me that the term "shock and awe" was another way of saying "scare", "freak-out", or "terrorize"; particularly since it was used to describe a military invasion campaign. What's the difference between our terror and their terror?
6
I think it's fair to say that the "Shock and Awe" strategy in the Iraq War was, indeed, a success militarily. The US had military control over the whole of Iraq two weeks or so after the invasion. The trouble was that military success doesn't not necessarily translate into political success, as the succeeding years of occupation have shown.
7
The real shock and awe is going to be felt by the Germans, the French, and the Benelux countries when they have to do the same for Portugal, Ireland, and even Spain and Italy. Gonna get UGLY.
8
How long does it take to print a trillion euros? And when does this start to result in inflation?
9
I would imagine it takes about a nanosecond, Vince, since it's not "real" money anyway. It exists only on a computer somewhere. As for when it starts to result in inflation, the answer is "right now."
10
I really really wish it wasn't @2 for the win.

But it is.