Friday 18 March 2011

why did we bother fighting? the Germans have won

We capitulate. Germany finally took over Euroland, as of last week.

One by one, all the peripheral Euro countries will default and get bailed out by Germany.

So, why did our ancestors fight the Germans? They've ended up with most of the Eurozone under their control, anyway. and without firing a single bullet.
You know I'm not serious, but look at the number of lives lost in WW2.
Look at the fact that most wars are of an economic nature. The leaders can't sort out their economic differences and then they send people like us into war.
What we are going through now is an economic war between currency blocks,
and between the plutocrats and the rest of us.
It's bloodless,
unless you starve to death
from a lack of food due to unemployment and a lack of benefits.

flash forward to today:
Merkel told Greece that it's doing well, so they got a break, both in interest rate and in a time extension for the payoff. This was also done to stave off the collapse of the Greek economy, which is near anyway. There wasn't even the pretense that the ECB was in charge.
BUTT, Greece will have to sell off everything that it owns in common, in order to keep in Germany's good books. Power company, water companies, buildings, land, all of it. Greeks won't stand for it.

Ireland was supposed to give up its 12.5% corporation tax (higher than France's)
in order to get a break on its payments. "No dice" said Ireland. So, Germany cancelled their gift.

Portugal is next. However, I'll be surprised if Germany can handle bailing out Spain and Italy,
because they'll come begging soon.

One last solution could be found by Germans voters. If they don't want to bail out the rest of the Euro countries, they'll turf out Merkel. The next PM might take Germany out of the Euro and
let those broke countries starve for a couple of years. It might even hasten the end of fiat money.
Lately, Merkel's party has lost two regional elections. Was this caused by the Euro crisis? This German prof I know says it isn't. He says it was local politics, but I doubt it.

[German Triumphalism, as she is spoke]

-Cos67 ¬(%^D>