The EU Sine Wave.
The usual post EU junket, windbag, sign here for slavery to the German Reich, summit has come and gone. In one day's grandstanding, to announce yet more borrowing, cobbled together by the now less than honest EU Bureaucrats in a further layer of pyramid debt building, the PR moves into its MSM theatre of obfuscation
The market makers, , as delusional in many cases as the politicians, wave excitedly at their electronic abacuses seeing the smoke and mirrors that is their trade, dance with a seductive light. The World is saved. Frau Merkin is not a wicked witch but a fairy godmother, they cry.
Meanwhile, Greece continues to starve, Portugal teeters on the brink, Spanish Airlines go bust and the whole Charade gets unpicked in less than 24 hours. Nothing has changed because it can't. Merkel needs a massive personal boost to survive in power. She has, so far, been unable to threaten military intervention but she has seized control of EU institutions. Now she can pretend EU courts offer her a legality for meddling and punishment. So perverse. If an EU State does not, because it cannot, stick to enforcible fiscal dictatorship they can be fined!
So now, not only do we all have to borrow to pay debt interest, if we fail to produce the income necessary for that, we will have to now owe more unobtainable wealth to pay what in essence will be German reparations! Sheer madness. However in Frau Merkin's position she will now have the powers of a Bali ff. That is, if owed money that is not forthcoming, seize land and property. Sounds familiar doesn't it. Why? Because it is.
My picture today is the real state of the EU. Though the fiddling drags on. The sine curve goes up and down, each rise is less that the following fall. Simply because, as time goes by, the inability to feed people with colourful, printed paper, gets ever less possible. The EU CAP of decades has rotted agriculture. The subtle isolationism has crippled manufacturing and global trade. Fishing policy has trawled the EU waters bare with giant factory ships approved from every corner of the planet to buy expensive permits issued by the EU crooks.
As this train wreck is picked over, Merkin sees the opportunity for ever greater power. Power she has just wrenched from the EU Commission from under their very noses. Since they have no money, only realisable assets in the form of land and cheap labour remain. Since it is Germany to whom these debts are ostensibly owed, it is they who will claim first preference.
As for the financial markets, they'll catch up any moment soon. Printing money is all the ECB have. Real cash is long gone and I can't see China supporting willingly a fourth Reich. So where cash is to come from to invest in markets is a mystery. Only a sweeping away of The EU can work. That's Merkin's plan. So far, so good.
*As an aside, since the merkin is a cover up item, the pun on her name is rather apt! Sieg heil!