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Germany can't prop up the economy of every nation in the EU.
The EU is only as good as what every nation contributes.
There is considerable truth to this. I'd add this though -while Germany is the biggest strong economy in the EU, countries such as Finland, the Netherlands, Denmark, Austria, and Sweden pulls their weight and a bit more. All the really heavily regulated nations, in fact.
The ones dragging it down...Italy, Greece etc...tend to be the ones with a history of playing fast and loose with the regulations or just not regulating much in the first place.
The people of Italy and Greece have been avoiding taxes for over 6,000 years. They are very good at it. The only reason the core EU nations have been lending money is to provide a market for their manufactured goods. Eventually the debt has to be paid or forgiven. Paying the debt would bankrupt the borrowers and the lenders would not be able to sell any more things. That would bankrupt the lenders. I expect the debt to be “restructured” without any real repayment.
This is similar to the way China loans huge sums to the US. The big difference is the internal Chinese market is developing fast enough to eventually buy their own output so they will no longer have to lend their customers money. This will mean we, as American taxpayers, will have to pay for our failing empire out of domestic taxes. That will, if the warmongering financiers have their way, prevent any social safety net for anyone but military connected employees. As military goods and services do not increase industrial productivity the production and consumption of our industrial output will end then we will fall into the Economic morass similar to the British and French empires before and after WW 2.
After you explain why heavily deregulated America is on it's deathbed.
Every year more regulations are placed on the US Citizen and businesses.
How do you come to the conclusion we have been miraculously heavily deregulated?
Every year more regulations are placed on the US Citizen and businesses.
Except for those decades when we deregulated financial markets.
Our problem is stupid and corrupt regulation, or regulation based on bad economics. We do not necessarily have too much or too little regulation.
Quote:
How do you come to the conclusion we have been miraculously heavily deregulated?
Because we didn't always have opaque, unregulated shadow financial markets.
We have trillions in unregulated derivatives that nobody understands, being traded by companies that the political elites have decided to back with government funds.
Except for those decades when we deregulated financial markets.
Our problem is stupid and corrupt regulation, or regulation based on bad economics. We do not necessarily have too much or too little regulation.
Because we didn't always have opaque, unregulated shadow financial markets.
We have trillions in unregulated derivatives that nobody understands, being traded by companies that the political elites have decided to back with government funds.
Are these same regulators the one ordering the Beatings of the Progressive OWS Protestors?
With all of its extremely stifling regulations and beloved bureaucracy and red tape the socially progressive EU Garden of Eden is failing.
Why?
Oh, I know.
Its the "rich" and the "capitalists" and the "1%", right?
But I thought that the heavy-handed rules were supposed to destroy the bankers.
What is your new solution?
Would a new heavy dose of regulations and bureaucracy and red tape do the trick in bringing in a new progressive Renaissance in the Old World?
It's failing because we have a monetary system based on debt just like you do. My solution would be to abolish the ability for private banks to create money and return to a government issued debt free currency.
So since America is in trouble that means that Europe is not in trouble?
Bizarre logic, indeed.
No.
The bizarre logic is when Americans, whose country is in the toilet financially, can snicker at someone else when their own house isn't in any kind of order. Nevermind the Europeans. You'd better be worrying about how to fix THIS cesspool in your own country. The Europeans will handle their own business.
Wanna talk about a continent on it's deathbed? Please. You may be living on one.
The bizarre logic is when Americans, whose country is in the toilet financially, can snicker at someone else when their own house isn't in any kind of order. Nevermind the Europeans. You'd better be worrying about how to fix THIS cesspool in your own country. The Europeans will handle their own business.
Wanna talk about a continent on it's deathbed? Please. You may be living on one.
So the key for Europe to fix its (most likely) un-fixable problems is for Americans to "stop snickering" at Europe and fix her own problems.
Brilliant analysis.
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