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Spain's debt hits record as euro zone crisis worsens

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posted on Jul, 13 2012 @ 02:18 PM
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The morass, failure to act, belligerances and plain ineptness of EU leaders must end, and now.

No one likes 'short term measures', for it brings to mind of solving only the immediate and not the long run.

Thing is, short term measure is a term that EXISTS, and serves a purpose.

Not every solution can come in the form of 'long term measures' such as austerity, simply put, because NOT many may live to see that long term measures succeed or even fail.

Right now, EU, or Europe is in dire need of short term measures to alleviate the suffering, that had contagioned to world wide status. We, mankind, had long use trade as a means of survival, and every human on Earth is fully linked and dependent on each other, regardless a new 1 day old baby or the old man gasping his last Earth's breathe.

What happens in one nation affects the rest of the world, some in slight ways, others in monumental ways such as EU is doing now.

Stimulas works, and had worked before, simply because it gives growth opportunities and confidence to the entire world trade framework.

China spent billions, and it succeeded in preventing it from a hard landing after the financial crisis of 08, even with exports of shoddy toxic products, manipulated currencies and other ills, for 3 years, but now faces a slump. That slump was due to its billions being misplaced - into corrupted entities that milked for its own pockets and not for the nation.

America too spent billions, and so far, it held up well, far better than some frightful states such as Spain and Italy, with austerity drives that drove the employment market and inflation to atmospheric heights and massive withdrawals of banks savings from depositors who lost confidence in the financial system.

The only slight problems with USA is opposition politicians with agendas whom would like to misuse the cases of the solar energy companies that President Obama help funded with massive millions of dollars but now facing bankruptcy. It is nevertheless a mistake and lay with some of the administrators whom had not thought it through.

With american tech, solar by-products would be a success, but unfortunately, it allowed competittor to steal that tech and manufactured it cheaply at a nearby factory, selling it cheap for quantity gains. That's the ugly fact of economic globalization - seeking cheap labour and thought it was 'cheap', but outfoxed by others with thousands of years of civilisation history in the game. Simply put, there was no trade protection for the american solar companies, and thus that loss.

China was heavily touted as the next economic leader of the world, and USA will be finished as a force, by many haters of USA and bootlickers of China. Today, the world realized the truth. China aint that great, with 1.3 billion in poverty except for the few in cities lapping it up. Inequality, unconscionable corruption is the norm in China today.

Furthermore, they lack the freedom to make mistakes, unlike USA. And tall poppies often get cut down in China. They are a nation of robots, and will not have the ingredient for leaps in innovation to be a world leader that the USA was and is. Whatever China had or are doing now, such as space tech, came from copied western tech.

Similarly too for EU states to make economic leaps, which DO have the capability to excel, if it takes the necessary measures for the short term now. Germany may hate funding other states, as it will need its own money too. But the thing is, right now, Germany ISN'T the only country funding. It is the world, through IMF and investments into the ECB.

Germany too will stand to lose big time if EU fails, When it took austerity measures in the past, other EU states and the world was booming, and could import german stuff by the shiploads. Today, with the economic morass, there will not even be a car convoy of goods, let alone trucks even, as money slow and stops circulating.

Drop the idea for long term solution. It is not a solution except fantasizes of a lunatic elected member of parliament. Go for the immediate short term, and THEN get the best and brightest mind to take their time to fine tune mistakes made, and find a long term solution to be implemented later on when the economy is booming, as it will.

May EU leaders realize this - Human lives are far more precious than money, bankers, bank and EU itself. Money and institutions can ALWAYS be built back over time through mutual concensus, correcting mistakes to progress, BUT once human lives are lost or without hope...it is forever....

Keynes was never a supporter for long term fantasies. He was a pragmatic and knew what was comming in the tunnel directly ahead of him - it was not the light of the tunnel's end but only the light of an onrushing train, and he came out with what was needed to be done then and there to avoid being crushed by the train.
edit on 13-7-2012 by SeekerofTruth101 because: (no reason given)




posted on Jul, 13 2012 @ 02:26 PM
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The end is near. I can feel it.



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