Europe

[admin]

I’m surprised that the Euro crisis is not being discussed here.

That’s a great story of our times.

The politics and economics of Europe are fascinating in my opinion.

http://www.washingtonpost.com/world/europe/23-european-union-leaders-agree-to-fiscal-curbs-but-britain-blocks-broad-deal/2011/12/09/gIQAFi5UhO_story.html

[sdduuuude]

Yay. Europe is saved. The stock market will never go down now.

[Anonymous]

Michelle Bachman says that Europe is a socialist country.
That’s all I need to know.

[Allan from Fallbrook]

[quote=pri_dk]Michelle Bachman says that Europe is a socialist country.
That’s all I need to know.[/quote]

Pri: You let Merkel and the Germans start running shit again and Europe will BE a socialist country. A National Socialist country!

Deutschland uber alles!

[Anonymous]

This thread just went Goodwin in a very unusual way.

[briansd1]

Allan, did it occur to you that the austerity advanced in Europe by Merkel is the same austerity that those on Michele Bachamn side’s want for America?

[The-Shoveler]

Maybe a split into a north EU and a south EU ?
The EU situation seems very complex, and was probably a bad Idea from the start.
Any way I think the more immediate issue is Russia right now and what going on with their election?
That could be a real negative for the world economy if things go all late eighties there.
And Iran and Pakistan, I think Pakistan is maybe about done being our friend here.

But at the same time
The other interesting thing that is getting no air time and is very important and dramatic shift in America’s energy future.

We are now set to become a net exporter of energy products (LNG and Coal but now Oil also). Seems almost unbelievable but is something I have been saying for a while now (We DON’T NEED THE MIDDLE EAST).
The other shift that is occurring right under our noses is the shift to Compressed NG and LNG use in trucking in the U.S,. seems the market is doing what policy and pickens could not. When LNG is about 1.5 to 2 dollars a Gallon equivalent, diesel fuel starts to look very expensive to truck companies.
Which brings us back to Russia I guess and maybe Iran those are the two big wild cards right now IMHO.

[Allan from Fallbrook]

[quote=briansd1]Allan, did it occur to you that the austerity advanced in Europe by Merkel is the same austerity that those on Michele Bachamn side’s want for America?[/quote]

Brian: Yup, it did and has. In response, I’d ask if you consider what’s happening in Europe a precursor to what will happen here in the US? We have a more favorable position, in that we’re the world’s reserve currency and can print money to our heart’s content, but the math will eventually catch up to us.

Demography is destiny.

[Allan from Fallbrook]

[quote=pri_dk]This thread just went Goodwin in a very unusual way.[/quote]

Pri: I wasn’t actually moving towards the reductio ad Hitlerum argument, simply opining that the other European countries must just be thrilled to pieces to have their respective destinies back in the hands of the Germans.

[Hatfield]

unexpected Goodwin +1

Not sure I understand why everyone is dumping on the Germans right now. They seem to be the only ones that have their shit together. During the whole Greece fiasco, I was surprised that there wasn’t more discussion of how the Greeks had cooked their books to join the union. When this story broke several years ago, not much was said or done about it, everyone shorta shrugged and apparently assumed nothing would come of it.

If things seem exciting now, wait till Italy and Spain default. I don’t see how the monetary union will survive, unless the only members are countries with better fiscal policy, and that seems to be a north-south divide.

[briansd1]

I agree that demography is destiny.

In America, we have the reserve currency. All global business is conducted in Dollars so we don’t incur debt but in our own currency.

We also have a more adaptive society that can absorb bright, and not so bright but hard-working and productive immigrants from around the world. That will help our demography.

I recently had a foreign visitor who pointed out that the US could easily double its population in few decades, grow its economy and pay off its debts.

What is lacking in America at the moment is political will.

Here’s a timely interesting WaPo opinion piece.
I’m waiting for the intelligence report mentioned in the article to published in 2012.
http://www.washingtonpost.com/opinions/a-bleak-look-at-americas-future/2011/12/09/gIQAAYmDjO_story.html

[Anonymous]

[quote=Nor-LA-SD-GUY2]Maybe a split into a north EU and a south EU ?[/quote]

South EU women are hotter.

Feel free to debate, but bring data.

[Allan from Fallbrook]

[quote=pri_dk][quote=Nor-LA-SD-GUY2]Maybe a split into a north EU and a south EU ?[/quote]

South EU women are hotter.

Feel free to debate, but bring data.[/quote]

Pri: I won’t disagree that South EU has some definite talent, but I’d suggest you take a spin around Hungary, the Czech Republic and Poland before being so quick on the trigger.

[The-Shoveler]

Delete, wrong thread

[The-Shoveler]

Looks like the ECB is not buying up the Spanish and Italian bonds,

Me thinks there is a game of chicken afoot to see if the U.S. federal reserve will step in and buy up the bonds.
ECB is not ECB enough (my speculation)
Or more practically they are coming around to the realization that the quicker they abandon the euro Idea the better off they will be, as there is no good way to make it work IMO.

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