Wednesday, 1 December 2010
EU: RIP? - says Pat Buchanan
As of Monday, Greece and Ireland had been bailed out – Greece with $145 billion, Ireland with $89 billion. All eyes have now turned to Iberia, to Portugal and Spain, where bond prices are sinking and interest rates are rising, and investors are eying the exits.
Monday's stock and bond sell-off across Europe testifies to a belief that this storm is far from over.
Why cannot a series of bailouts, cobbled together by the EU and International Monetary Fund, contain these serial crises?
Two reasons: populism and a return of economic nationalism.
Consider two telling comments from the Irish about the terms of the bailout of their country.
"(S)enior bank bondholders are to be protected, while the lowest paid and those most vulnerable people dependent on public provision are to be crucified," said trade union leader Jack O'Connor.
"I think the government should default on the bonds," said writer Valerie Wilson. "We are suffering so the bondholders don't suffer. It's capitalism gone mad."
Translation: Put Irish people first, before any foreigners holding bonds."
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- ▼ Dec 2010 (46)
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And You Tell Me There's No Suppressed Technology?
It's another of those 'conspiracy theories' that good citizens don't notice. Imagine the standard of living if all the secret technology was released to the public...we'd be "free and independent" as JFK said! No more poverty anywhere! Can you imagine being sick enough to withhold such technology from society just to maintain your position of control? (Bearing in mind that we don't know just how much technological capability is being withheld, because, duh, it's secret.) What did Nikola Tesla really develop?
Individual Liberty? But that's "selfish"!
No, we need to look after each other voluntarily without having a government do all that at gunpoint. Sounds absurd at first but soon you realise that the reason it sounds so is because of the very unfree nature of our current existence. Envision greater possibilities! Ok, some kind of massive wake-up would be needed before this kind of free, responsible, uncontrollable society could emerge. And that's what we are seeing day by day in the world - a massive waking up of the previously enslaved masses (including myself I must add!)