Snotty Haunts The World's Banking Debts.
In this article, http://uk.reuters.com/article/idUKTRE64T1FI20100531 , EU so called leaders, in their financial sectors as well as cabinets, are thrashing around aimlessly and in full blown panic mode. Circa £930 billion quid is expected to fall to bad debts between now and 2011. This in addition to £687.5 billion guarantee money for bailout of Government failures in Greece and elsewhere. This is all utter lunacy. One size fits all Socialist economics is as woefully dismal as any other dogma associated with the left. It really would have been so much better to have allowed markets to prevail. Yes, short term pain and potential loss of political power would have resulted and job losses enormous. Yet whilst that would have been hurting, stabilisation of local economies would have been more likely, the euro experiment ditched and recovery begun at National levels according to those Countries needs. Sadly the empirical federal hubris and arrogance continues to prevail. Do any of these European "Napoleons" understand the enormity of all this debt? It would seem not and as they piss into the wind we all get contaminated with the stale urine of European politically inspired debt.
Much of all this economic horror lies with the unseemly haste to embrace Snotty's bailout plan, using untold future debt to rescue the Bilderbergers' ponzi schemes and their banks, whilst accepting Mafia cash to bolster the package http://www.guardian.co.uk/global/2009/dec/13/drug-money-banks-saved-un-cfief-claims . Rampant inflation, poverty and unemployment are the only foreseeable consequences of all this stupidity. Of course they could also stoke up various worldwide conflicts to mask the enormity of their collective political failings. How about The Middle East once more?
I offer one solution for The UK that is probably good for all countries. A period of isolationist economics to put our own houses in order before trying to "save the world". Globalisation, like a Federal Europe single currency, have failed. We need to get back to real trade. Produce for your own market and sell any surplus wherever you can. Not beg, borrow and even steal from others to bolster home grown incompetence a la Snotty Brown's mad schemes. Whatever the outcome that depression risk is still very much with us and horribly similar to the thirties.
My fears are endorsed by a man much more savvy than I.