"SIGH-PIE-B" R Us? Euro in Big Trouble
Take a closer look at the economies of eight European countries since the Greek bailout by the European Union (EU) and International Monetary Fund** (IMF). Specifically examining, Spain, Italy, Greece, Hungary, Portugal, Ireland, England and Belgium -- the lot of which can be abbreviated “SIGH-PIE-B” – gives one a sad, sad view. Belgium and Hungary are the latest to disappoint and still have hopes. England also could make it and avoid bankruptcy and fiscal collapse, if they get out of the European Union (and their currency is still separate). But let NOT Americans get too complacent.
The Debt/GDP ratio (Gross Domestic Product) which we Americans are burdened under is worse than seven of these eight troubled nations (all but Greece). Additionally, our Federal Reserve Chairman Ben Bernanke has inflated our circulating currency to a level fifteen times where it stood in September 2008. Since our president is also willfully adopting policies far worse than any of these countries now have in place and is confounding and obstructing our economy’s chances at recovery by leaps and bounds when will we here in the United States suffer their fate?
If we didn’t have an extremely resilient capitalist economy as our foundation and a relatively low level of unionized labor, we’d already be feeling much of the pain Greece has suffered, but Barack Obama’s moving quickly to cure us of those impediments to financial Armageddon . . . .
Right now one of the great anomalies, and the only thing keeping the Obamunistic American economy afloat is the fact that 98% of people who look at investing in the dollar see a mysteriously rising currency . . . more fools they. Because conventionally people only compare the Dollar to the Euro and vice-versa . . . investors worldwide are not seeing the obvious and clear collapse of the once mighty dollar right befor our eyes but only an artificial bull-market in the buck which is all that’s keeping us afloat. And where, pray tell, should they be looking? They'll undoubtedly soon look at gold, look at platinum, look at palladium, look at silver, look at copper and pretty soon start looking at the prices of ALL commodities such as food, gas, electricity, electronic goods, etc.
When the true nature of the inflating dollar and the weakness of the American economy starts to become obvious, say about September . . . the Chinese, Japanese, Russian, Korean, Indian and Brazillian investors holding rapidly devaluing greenbacks will sooner or later come to their senses and start buying up hard currency, oil and precious metals with dollars and the Obama daydream will vanish into thin air as funds loaned to us by other countries will become very expensive (say at 10-12% interest). Not satisfied with this state of affairs, however, Obama is seeking to inflict the coup de gras upon our troubled economy with “America’s Power Act,” a slimy euphemism for cap and trade or cap and tax legislation.
The quickest collapse in Europe happened to Spain, which was the poster boy for European economic-soundness around ten or eleven years ago with a booming economy and a miniscule 3% unemployment rate. Spain then, however, adopted a green-jobs^^ economic policy and now has 21% unemployment and is rapidly moving toward Greece’s level of unsoundness. Just two days ago, Barack Obama praised the green economy of Spain and said he intends to “break our dependence upon oil once and for all" (not foreign oil – but all oil). Yep, SIGH-PIE-B R us!
Ya’ll live long, strong and ornery,
Rajjpuut
** $70 Billion from American Taxpayers went into the Greek bailout fiasco
^^subsidizing each green job cost $677,000 in dollars on average and cost 2.2 real jobs from the wider economy; most were temporary; only 10% proved permanent; pay typically ran from $10-$14 per hour . . . . The sad end result : 22 real permanent jobs were lost for every permanent government-created green job and green-tech is actually marginally better in Spain than it is here in America. Green jobs killed Spain. The current Spanish slang term for curse words is not “4-letter words” as Americans say it, but “palabras verdes” . . . green words.
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