Wednesday, November 2, 2011

There's not enough money

Cato Institute scholar Gerald O'Driscoll serves up the most understandable explanation of the European fiscal crisis I've seen - as well as its implications for us over here on this side of the Atlantic.

10 comments:

  1. Was up wid housing bubbles in Ireland & China? Did American Democrats cause that too?

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  2. Hmm, interesting sentence in your linked article to consider here: "And U.S. banks and financial institutions are exposed to EU banks through funding operations, issuance of credit default swaps and unknown exposure in derivatives markets." GERALD P. O'DRISCOLL JR.

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  3. In essence, it's the quick buck the bankers and brokers love to make that is not quick any longer, nay, it's a quick fuck! And the dicking is up our collective asses...

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  4. There is no money, there is no money, your continual gloat. Why? Because what money there was went to pockets of creative banker boys and a few (Jewish?) girls.

    "And U.S. banks and financial institutions are exposed to EU banks through funding operations, issuance of credit default swaps and unknown exposure in derivatives markets." GERALD P. O'DRISCOLL JR.

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  5. They lost their shirts, too. It's not gloating to point out that the global house in on fire. It's a courtesy to one's fellow human beings.

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  6. What is it when you refer to certain citizenry as sub-human and scum because you blame the collapse on social welfare progams. The suits have fouled all this up immmeasurably, insuring risks that they can't pay off on, which is what derivatives are. Quick bucks and major fucks for the rest of us. Okay, you don't like social welfare (including social insurance) programs, and that is why you gloat. And you defend the indefensible casino financing.

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  7. No government anywhere has any business instituting social programs. They diminish human freedom and they always wind up hurling the governments in question toward bankruptcy.

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  8. Governments everywhere have whatever business the people say it has to engage in. That's in a democracy.

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  9. Both government and big business have done a bad bad bad job in managing the economy in the US.

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  10. And the battles over social insurance programs have been fought and your side lost. 70 plus years ago. Therefore you gloat. You will not overturn the Patient Protection and Affordable Health Care Act by your griping either. The movement will go on. It actually was an astounding achievement by our president and Congress, capping over a century of effort. Therefore you gripe. Public education and information resources )formerly called libraries, public parks, and, yes, social insurance will go on. And you who are opposed, well, you lost. That is a given. Keep on fighting though. We will not lay down and let you mow us over. Yes, you gloat. You like it the way it is because it gives you an opening to tear down what you detested in the first place. Blanket statements such as "No government anywhere has any business instituting social programs. They diminish human freedom and they always wind up hurling the governments in question toward bankruptcy" are really just opinions. You speak them like they're Holy Writ.

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