France's Finance Minister Takes Another Hit From Her Crack Pipe And Calls For A Significant Pickup In World Growth
Globalization is dead. Christine needs to put down her pipe. She's hallucinating.
Christine, where did you learn about finance? Harvard? Or did you learn about finance the same way as Treasury Secretary Geithner learned about it? By kissing Henry Kissinger's ass as a minion in Kissinger Associates. How is Henry Kissinger able to advise clients about investments? I guarantee you he knows less about finance than anyone reading this blog. Well, I'm glad you asked. Because he lobbies governments to get special favors for his clients. Favors that are most likely detrimental to citizens of those countries.
Lagarde believes chances of default in the Euro area are very low because we have countries putting their sovereignty on the shelf and political idiots like Lagarde committing citizens of one country to pay off the debts of another country. All because political idiots "promised" to help each other. Aww. That is so special. I am about to shed a tear.
I wonder what the sovereign people of Europe think about that. Well, I suspect I know what they think from the responses we see because about a year and a half ago we wrote:
Germany has the wherewithal to weather a substantial economic decline were that the only issue before it. But at some point in time the demands placed on the people of Germany by the European Union and German bureaucrats will cross paths with the substantial collapse in global demand for Germany's economic output, its substantial ongoing costs of reunification and its highly leveraged social safety nets. This has not yet developed. It will. And, that means any calls for EU bailouts to be backed primarily by the balance sheets of France and Germany will clash against the sovereign needs of domestic economies. Therein lies a serious risk and future tipping point in the making.
The EU and German bureaucrats pushing EU unification are elitists who wish to return the people's sovereignty to the Europe of old where cronyism - lords - determine the fate of a feudal society through knuckle-dragging policies of rhetoric and tyranny. Maybe not consciously so in today's environment. But by implementing policies crafted to benefit a very few rather than by or for the sovereign of Germany or any other EU country. Unfortunately, this inbred elitism has never been vanquished from European culture. Oddly enough, this elitism remains a primary driver for the success of America as it has for the past three hundred years. Though now we also see this same level of cronyism building to a systemic level in Washington over the last handful of decades. Regardless, I'm quite confident the American people are going to take care business. And, I'm actually becoming more confident many in Europe are finally going to do the same.
Throw in the political concerns of sovereign countries yielding to demands by France or Germany or the EU in exchange for possible financial aid and you have a healthy brewing cauldron of future volatility. One that the European Central Bank and European Union arrogantly believes it has under control. Of course, they also thought they had the situation well under control in, say, 1789. At that time it was also generally believed that it was good to be the king. As we enter the depths of a brave new world, is it once again good to be the king? Let's ask the EU leaders as this crisis gathers momentum. I suspect the answer is it "was" good to be the king.
The EU bailouts are really about one thing. Enslaving the peoples of Europe to save the French and German banks from their complete and utterly stupid mistakes. Countries should default on their foreign debt for it served only the very few and corrupt political idiots and a small number of corporate elites.
Do you want to pay the taxes for people in China or Canada? That's exactly what the EU leaders like Lagarde are doing by forcing citizens to yield sovereignty to the debt of other countries. I think they call that debt prison. The same prison American politicians are trying to put us in by forcing us to bail out crooked Wall Street treasonists, mobsters, thugs and goons.
The world is enslaved by political idiots and their corporate masters. Christine, watch and learn like all of the other political idiots.
Peut-être que nous devrions mettre tous les politiciens en prison. Oui?
Christine, where did you learn about finance? Harvard? Or did you learn about finance the same way as Treasury Secretary Geithner learned about it? By kissing Henry Kissinger's ass as a minion in Kissinger Associates. How is Henry Kissinger able to advise clients about investments? I guarantee you he knows less about finance than anyone reading this blog. Well, I'm glad you asked. Because he lobbies governments to get special favors for his clients. Favors that are most likely detrimental to citizens of those countries.
Lagarde believes chances of default in the Euro area are very low because we have countries putting their sovereignty on the shelf and political idiots like Lagarde committing citizens of one country to pay off the debts of another country. All because political idiots "promised" to help each other. Aww. That is so special. I am about to shed a tear.
I wonder what the sovereign people of Europe think about that. Well, I suspect I know what they think from the responses we see because about a year and a half ago we wrote:
Germany has the wherewithal to weather a substantial economic decline were that the only issue before it. But at some point in time the demands placed on the people of Germany by the European Union and German bureaucrats will cross paths with the substantial collapse in global demand for Germany's economic output, its substantial ongoing costs of reunification and its highly leveraged social safety nets. This has not yet developed. It will. And, that means any calls for EU bailouts to be backed primarily by the balance sheets of France and Germany will clash against the sovereign needs of domestic economies. Therein lies a serious risk and future tipping point in the making.
The EU and German bureaucrats pushing EU unification are elitists who wish to return the people's sovereignty to the Europe of old where cronyism - lords - determine the fate of a feudal society through knuckle-dragging policies of rhetoric and tyranny. Maybe not consciously so in today's environment. But by implementing policies crafted to benefit a very few rather than by or for the sovereign of Germany or any other EU country. Unfortunately, this inbred elitism has never been vanquished from European culture. Oddly enough, this elitism remains a primary driver for the success of America as it has for the past three hundred years. Though now we also see this same level of cronyism building to a systemic level in Washington over the last handful of decades. Regardless, I'm quite confident the American people are going to take care business. And, I'm actually becoming more confident many in Europe are finally going to do the same.
Throw in the political concerns of sovereign countries yielding to demands by France or Germany or the EU in exchange for possible financial aid and you have a healthy brewing cauldron of future volatility. One that the European Central Bank and European Union arrogantly believes it has under control. Of course, they also thought they had the situation well under control in, say, 1789. At that time it was also generally believed that it was good to be the king. As we enter the depths of a brave new world, is it once again good to be the king? Let's ask the EU leaders as this crisis gathers momentum. I suspect the answer is it "was" good to be the king.
The EU bailouts are really about one thing. Enslaving the peoples of Europe to save the French and German banks from their complete and utterly stupid mistakes. Countries should default on their foreign debt for it served only the very few and corrupt political idiots and a small number of corporate elites.
Do you want to pay the taxes for people in China or Canada? That's exactly what the EU leaders like Lagarde are doing by forcing citizens to yield sovereignty to the debt of other countries. I think they call that debt prison. The same prison American politicians are trying to put us in by forcing us to bail out crooked Wall Street treasonists, mobsters, thugs and goons.
The world is enslaved by political idiots and their corporate masters. Christine, watch and learn like all of the other political idiots.
Peut-être que nous devrions mettre tous les politiciens en prison. Oui?
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