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EU: Foreshadowing The "Change We Can Believe In Tomorrow"

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Bloviating Zeppelin: EU: Foreshadowing The "Change We Can Believe In Tomorrow"

Bloviating Zeppelin

(in-ep-toc'-ra-cy) - a system of government where the least capable to lead are elected by the least capable of producing, and where the members of society least likely to sustain themselves or succeed, are rewarded with goods and services paid for by the confiscated wealth of a diminishing number of producers.

Friday, August 05, 2011

EU: Foreshadowing The "Change We Can Believe In Tomorrow"


The stock market lost 512 points on Thursday -- the most points in one day since 2008.

Why?

Because of information that the EU is in the process of collapse, and it's bordering on being irreparable. It's on Life Support; Germany is doing chest compressions as best it can with some occasional breaths. But it can't jumpstart the entire EU. Just remember the acronym PIIGS -- those are the countries in dire straits: Portugal, Ireland, Italy, Greece and Spain. Who bailed out Portugal's energy grid recently? Yes, that's correct: the Chinese.

This week, it's called a "market correction." Nice phrase.

The real portent will occur at the end of today. As logical thinkers know, one day does not a trend make.

Europe is on fire. Thursday's stock market sell-off was a key indicator that things are bad and confidence is low, but -- things are not yet, for us, beyond being irreparable. If not staved off, however, there could be a US double-dip recession. Recession = bad. Depression = the worst.

But DC still doesn't get it and philosophically can't get it -- meaning Mr Obama and the Dems (and some Old Guard GOP Ninnies as well). Mr Obama wants to "raise taxes on the rich" and create another "stimulus package." TARP and stimulus packages have been crazily -- wildly -- ineffective. Is this actually Cloward-Piven enacted in real time by an adherent?

So, beyond that, what's Mr Obama's solution? Road trip!

And of course, he's backtracking just a bit. Shocking, yes?

After Obama quipped earlier this summer that shovel-ready jobs weren’t as shovel-ready as “we expected,” it seemed that a central tenet of the 2012 campaign was probably going to be something along the lines of, we just haven’t had enough time. At his Chicago fundraiser last night, that’s exactly the stance he took, even going back to blaming George W. Bush:


It’s been a long, tough journey. But we have made some incredible strides together. Yes, we have. But the thing that we all ought to remember is that as much as good as we have done, precisely because the challenges were so daunting, precisely because we we were inheriting so many challenges, that we’re not even halfway there yet. When I said ‘change we can believe in,’ I didn‘t say ’change we can believe in tomorrow.’ Not change we can believe in next week. We knew this was going to take time because we’ve got this big, messy, tough democracy,” President Obama said at a campaign fundraiser in Chicago on Wednesday night.”

Right.

In conclusion, I leave you with this quote from Jean-Francois Revel:
Clearly, a civilization that feels guilty for everything it is and does will lack the energy and conviction to defend itself.

BZ

P.S.
When we go down, who is going to cushion our fall as we historically cushioned the falls of innumerable countries in our short history? Whilst keeping the entire world safe?

That's right: no one.

6 Comments:

Blogger Well Seasoned Fool said...

What is the Chinese curse? May you live in interesting times.

Thu Aug 04, 05:35:00 PM PDT  
Blogger Bloviating Zeppelin said...

WSF, I would ask: does "interesting" translate to having a white-hot piece of rebar jammed up one's ass politically?

Just curious, sir.

BZ

Thu Aug 04, 06:04:00 PM PDT  
Blogger Well Seasoned Fool said...

Among other things.

Thu Aug 04, 06:45:00 PM PDT  
Blogger Greybeard said...

And the media continues to bolster BOzo with talk that tomorrow there buyers will be snapping up bargains.
Odd that Gold also went down today,huh?
But it is increasingly difficult to cover up the problems in PIIGS...
Portugal, Ireland, Italy, Greece, and Spain. (And we are making exactly the same mistakes as they.) When things go South, I think it will be like someone pushing over the first of the dominoes.
Wise folks have been making preparations since Obama's election, haven't they?

Thu Aug 04, 08:20:00 PM PDT  
Blogger -FJ said...

I suspect that the budget cap extension debate actually began pulling back the curtain on Euro-style Socialism in the American mind and revealing it's inherent "un-sustainability".

The "progressives" have been pushing "sustainability" for the last 10 years... and now the fruit of their propaganda is about to pay off....

Fri Aug 05, 07:36:00 AM PDT  
Blogger Old NFO said...

No one is right... we WILL descend into anarchy. It will NOT be pretty.

Fri Aug 05, 04:27:00 PM PDT  

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