Good evening. I’m not Chevy Chase, and you’re not either. (Unless the real Chevy Chase is reading this, in which case: 1. Loved you on the original SNL, and 2. Stop being such a total dick.)
The EuroZone crises has now reached the stage where European media is doing live updates.
Take a look at this update: “German Chancellor Angela Merkel has mooted the idea that Greece should hold a referendum on the euro alongside its second round of elections next month.” Well, no use even pretending that the Greeks have a say in their own future, is there?
The Zuckermutterobergroupenführer has spoken!
In other EuroDoom news:
Paul Krugman is hardly a fat lady, but when even he says the Euro may end “in months, not years,” then maybe maybe the Euro’s opera bouffe is finally nearing the curtain. And just think: This Nobel Prize-winning economist is only two years behind Mark Steyn (not to mention myself).
The G8 leaders are trying to be more generous with Germany’s money.
The Wall Street Journal staff cover endgame scenarios.
Bank runs continue in Greece…
…and in Spain.
While the European Central Bank has cut off loans to four (unnamed) Greek banks because they’re insolvent. The only wonder is that any Greek banks are considered solvent.
No wonder Moodys is downgrading Spanish banks.
How bad will the Euro-collapse be? “This type of shock could produce instability at least as extensive as the aftermath of the collapse of Lehman Brothers.”
Why the Euro is doomed to fall apart. Besides all the obvious reasons.
Der Spiegel goes all Amityville Horror on Greece: GET OUT.
Speaking of prominent German media outlets slamming Greece (insert your own Cartman’s Mother joke here), can anyone tell me why the Greek finance ministry offices look like an episode of Hoarders? My German is a bit rusty to watch a 45 minute documentary, but what are in the garbage bags? Tax returns?
Spain is going to miss its deficit targets Also, unemployment is going to top 25%.
The difference between America and Spain.
Spain’s housing bubble gets compared to Ireland’s housing bubble, including how it’s getting ready to drag down the banking sector. Actually, it also sounds an awful lot like Japan’s housing bubble. But Spain’s economy isn’t nearly as strong as Japan’s…
One of the many ways France screws growing businesses.
No matter what Greece does, “the country faces years of austerity after years of mismanagement, whatever the election result. Even at the height of the global financial crisis, it was obvious the museum-piece economies of Europe, weighed down by bulging public payrolls, entrenched welfare state systems and archaic work practices, faced greater upheavals and decades of poorer living standards than the US.”
Record shorting against the Euro.
Obama wants Europe to keep digging. After all, the longer they can keep up the charade, the brighter his already-dimming re-election chances…
And given how much America is spending under Obama, we’re in no position to cast stones.
Tags: Angela Merkel, Budget, Economics, Euro, Europe, European Central Bank, European Debt Crisis, Eurozone, Greece, Ireland, Japan, Paul Krugman, PIIGS, Spain, Welfare State
This entry was posted on Saturday, May 19th, 2012 at 1:33 PM and is filed under Budget, Economics, Waste and Fraud, Welfare State. You can follow any responses to this entry through the RSS 2.0 feed.
You can leave a response, or trackback from your own site.