#1
Always wanting someone else to pay the bill. Perhaps they can find some of that oil for food graft money that flowed into Tota Fina Elf and others and help out with that.
They shouldn't but they will.
The dam is breaking in Europe. Interbank lending has seized up. Much of the financial system is paralysed, setting off a credit crunch just as Euroland slides back into slump.
Continued on Page 47
#5
Europe has a larger population and a larger economy than the U.S. Until recently the core EU had a per-capita GDP equal or slightly greater than per-capita GDP in the U.S.
Europe has plenty of resources. What they lack are leadership, will and understanding. Even if the U.S. had the resources to bail them out, and we don't, it would just kick the can down the road.
Europe -- and the U.S. -- has to face a fundamental rule in economics: what can't go up forever won't.
Let Europe bail itself out, and let the U.S. bail itself out.
Posted by: Steve White ||
11/28/2011 9:21 Comments ||
Top||
#6
Yah sure. The mighty American honest taxpayer...or at least the few that are left... will run to the rescue of the Europeans and their youthful retirements, free healthcare, and long, long vacations. When we have none of that ourselves. LOL!
Sorry Euope, but all our future taxes are already spoken for by our government employees.
#7
They mean round 2.
Wall Street Aristocracy Got $1.2 Trillion in Secret Loans It wasnt just American finance. Almost half of the Feds top 30 borrowers, measured by peak balances, were European firms. They included Edinburgh-based Royal Bank of Scotland Plc, which took $84.5 billion, the most of any non-U.S. lender, and Zurich-based UBS AG (UBSN), which got $77.2 billion. Germanys Hypo Real Estate Holding AG borrowed $28.7 billion, an average of $21 million for each of its 1,366 employees.
The largest borrowers also included Dexia SA (DEXB), Belgiums biggest bank by assets, and Societe Generale SA, based in Paris, whose bond-insurance prices have surged in the past month as investors speculated that the spreading sovereign debt crisis in Europe might increase their chances of default.
The $1.2 trillion peak on Dec. 5, 2008 -- the combined outstanding balance under the seven programs tallied by Bloomberg -- was almost three times the size of the U.S. federal budget deficit that year and more than the total earnings of all federally insured banks in the U.S. for the decade through 2010, according to data compiled by Bloomberg.
#8
Any nation willing to become a territory of the US for a minimum of 50 years would merit the consideration of a loan. Otherwise let them fall and the pieces will come back stronger.
#9
They bought their ticket, time for them to take the ride....
Posted by: M. Murcek ||
11/28/2011 15:51 Comments ||
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#10
..you might even get Obama to bite on that one if you said that he'd get the power and glory to appoint the Proconsul Territorial Governor. Think of the bidding war. It's got to beat what his old Senate seat pulled.
I thought so. They will either be using taxpayer's money or they will be printing more money and thus devaluing the dollar.
The Fed's Board of Governors is appointed by the President somewhat like the members of SCOTUS. They do not answer to the President or to any legislative branch. Congress enacts laws that affect the economy but they are disconnected from the Fed.
#14
Stansberry and Associates September issue "[M]uch of the funding for Europe's banks comes from U.S. money-market funds and the interbank market. Only about 54% of their capital comes from their customers. A large amount of their capital 33% comes from sources that would transmit the crisis to America. The wholesale credit market in Europe comes from U.S. money-market funds. Europe's interbank market touches major U.S. money center banks. How will American creditors respond to the crisis? ". European Central Bank (ECB), the Federal Reserve, and the world's other major central banks will provide funds. Then Citizen, please send us what you can to save our country. Hoarding will not be tolerated. Those overweight by 20 pounds are hoarding money and foodstuffs. Report, failure to do so will result in the harshest consequences. In "whose name that cannot be said aloud". Just saying. Just ignore me.I go away after awhile.
[Telegraph UK] British embassies in the eurozone have been told to draw up plans to help British expats through the collapse of the single currency, amid new fears for Italy and Spain.
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