Monday May 28, 2012

JAPAN NEWS AND DISCUSSION

Bid to change EU treaty to fix debt crisis collapses

World Dec. 09, 2011 - 03:30PM JST ( 5 )

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5 Comments

1

nandakandamandaDec. 09, 2011 - 12:01PM JST

How can Standard & Poor's be allowed rule the world with letters of the alphabet like this? How can we trust their neutrality to make such life and death decisions? Are they the only thing we can now trust in this shifting uncertain world? Who rates Standard & Poor's?
-1

WilliBDec. 09, 2011 - 12:14PM JST

Standard and Poors is only the child who says that the emperor has no clothes. It typical for the Eurocrat wannabe Napoleons to blame the messenger instead of looking at the problem.
0

nandakandamandaDec. 09, 2011 - 12:36PM JST

There's a chart here: http://chartsbin.com/view/1177

Is it typical, WilliB? Have you heard such criticism?
0

WolfpackDec. 10, 2011 - 05:41AM JST

This is all sort of surreal. Sometimes I can't seem to understand how things got to this point in Europe. Then I just look at America and see them pursuing the same reckless government spending policies that they can clearly see is causing a contagion in Europe. Are all Western nations run by idiots?

Everyone knows that entitlement programs need to be restructured so that they are sustainable and that taxes need to be restrained to a level that will not strangle growth. However, no politician in Europe or the US is willing to do anything about it for fear of losing power.

So in Europe, the politicians are playing it safe. I think it's time for them to give up on the idea of a united Europe under the current forced circumstances. Shotgun weddings aren't likely to make it in the long run.
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WilliBDec. 10, 2011 - 03:15PM JST

Wolfpack:

" This is all sort of surreal. Sometimes I can't seem to understand how things got to this point in Europe. Then I just look at America and see them pursuing the same reckless government spending policies that they can clearly see is causing a contagion in Europe. "

Not quite the same. The US is has created a gigantic debt bubble, but can (and will) inflate themselves out of it. The Dollar will always be there, although it will be worth a lot less eventually. But US does not have the internal disastrous contradiction that the Eurozone has created. Like Tyler from Zerohedge put it: The US problem is like compulsively hitting yourself in the head... if you really want, you can stop it. The Eurozone problem is like being raped by a grizzly.... you really don´t have a choice in the matter.

" Are all Western nations run by idiots? "

Don´t answer that...