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Guy Sorman
End of the European Siesta? « Back to Story

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Alena Hrom√°dkov√° August 30, 2010 at 8:42 AM
all essential has been very well explained but I miss a deeper analysis of the enlargement policy.
Best wishes
Alena Hromadkova
Sorry, no end to the siesta. How about this...we default!
Wonderful post on Europe, but I now live in China (not unconnected), in which I know you have an interest. The recent World Bank Quarterly Report on China reads: ". . . inflation is basically determined by supply and demand for goods and services. . ." p. 11. To me this is Alice in Wonderland's mad queen economics: inflation is what I say it is.
Laws of economics are no different than those of physics and chemestry; violate them at your own peril. What fools we mortals be; something for nothing is a fatally-flawed dream. Yet we follow it like lemmings. Comes the dawning of reality, followed by an horrendous hangover. Now the piper exacts his due.
Europe, unlie America, has traditions other than hate and greed. Europeans built societies that have loving and compassionate social programs and a non-hateful media that are the real key to the continent's democratic peace.

However, Europe still has much hatred and greed and hence have yet to liberate themselves from the machinations of the Wall Street plutocracy. The plutocracy, fearing the good example of social solidarity and compassion that might inspire American workers, have manipulated the markets in order to force the Greeks to cease caring for their citizens, and ultimately, other Europeans as well lest they suffer the same punishment at the hands of the greedy pigs at Goldman Sachs and Chase Manhattan.

If Europe wants to fix her crisis she must seize all the assets of the American greed machine which would enable European peoples to easily maintan and expand the welfare programs that are the key to peace, prosperity and social justice. They must do this now that Obama is in power. Otherwise, if a Republican gets in the White House Europe could face actual U.S. military retaliation for defying the American Empire of Greed.
This is the people that created those economic problem (politicians), that are currently trying to find a solution...

Could this issue end in a positive way ?

No of course. But I can't think this is poeple to get rid of all European politics in one day !

I am entirely sympathetic to the author's message but profoundly irritated by his undermining its impact by careless rhetoric. E.g. "...remarkably homogeneous indebtedness in all the countries of Europe, on the order of 100 percent of national wealth..." Nonsense, it is a percentage of GDP. Too high but orders of magnitude different from 100 per cent of "national wealth".
Equally "in reality [sic], the euro owed by a Greek sits in a German or French bank". I don't think the author means to say that some crook has got his hands on the money lent to Greeks and deposited it in a foreign bank. Maybe he is referring to the fact that a large part of the loans to Greeks, or Greece, has been made by or are now owed to German and French banks.
Gottfried Fahrni June 26, 2010 at 10:19 AM
Thank you Mr Sorman for another outstanding analysis of European affairs.
Besides your arguments on euro-socialism and outrageous welfare hand outs, we have the problem of immigration which will definitely bring our Club-Med Holyday Union to bankrupcy.
Sweden, Norway, Finland & Denmark...the vikings!