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And Some Humor From Angela Merkel...
...Who says that "Spain and other countries know they can use EU mechanism if needed." We hope this is not another diplomatic overture that hopes to set the market at ease. We are fully confident that Spain knows too well it will soon have no option but to follow in Greece's footsteps, as at some point its banks will have to roll tens of billions in Commercial Paper which are completely frozen courtesy of a dead interbank lending market.
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"Ze Germans are ze craziest peoples!"
or
"I vill be here all ze veek!"
I'm sorry for Merkel. I do feel that she would prefer to do the correct thing. I wanted for her to be a hero. Most likely, you dismiss Sarah Palin? I believe that we need someone with morals and 'small' common sense. I get it that she comes across as a bit odd, I actually love that about her. If we are going to be broke anyway, why not go long and give the woman a shot?
How much worse could it get?
She's so funny, that ribald, wacky Germanic sense of humor. Reminds me of the investment letter from Anne Boleyn to Marie Antoinette entitled, "When all around you are losing their heads..."
Well, this is simple... all these nations need to do is live debt-free, like the prudent among us.
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That's a deadblow right there.
You got it....Live debt free and all these problems go away. And the killer is, all these countries have VAT so all they really need to do is twist the VAT rate a little and the budget is balanced.
Wait...what the hell IS the EU mechanism? "Make it up as we go"?
People in glass houses should not throw stones. The PIIGS may be in immediate trouble but the Rheinland is not exactly out of the woods. They have huge unfunded mandates as well as other problems they will need to export their way out of. They better hope a super strong DM does not come back to haunt hem.
This is some German plot brewing:
Germany has 250 billions euros out on loans
to Spain, according to B.I.S, Eurosummit this
week, Spain could barter them the Canary islands
no one would be interested in the Canaries.
the Baleares, however...
Right now, going long on the Euro, may be very smart.
That is a tough call . Fundamentals point to parity or worse with PIIGS for us little people.
Question which needs to get answered is "Is the US going to be in a much worse situation than europe shortly? " and supposedly BIG money is betting that is the case . My thinking is Gulf spill(which will hit the atlantic coast sooner or later) plus state pensions blowing up adds up to a shitload of broke and jobless people .
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