Slouching Towards The Unthinkable

Future generations might ask: Where was America when the economic lights across Europe went off? Watching “Dancing With The Stars”? As Americans today are encouraged by its dysfunctional mass media to fixate on all things sexual (Herman Cain, Kim Kardashian, Chaz Bono, et al), the European Union slouches towards considering extreme measures to save the Euro currency – & the global economy itself:

Finance ministers from the euro zone’s 17 member nations have converged on the European Union headquarters in Brussels today in a desperate bid to save their currency and to protect the global economy from a debt-induced financial crisis.

The ministers were discussing ideas hitherto unthinkable, now being considered in a moment of utter desperation. Among the previously taboo ideas being mentioned today are: countries ceding fiscal sovereignty to a central authority; some sort of elite group of euro nations that would guarantee one another’s loans but require strong fiscal discipline from anyone seeking membership.

How serious is this looming crisis? Well, China administered rough justice to 14 billionaires (its version of the “1%”) over eight years for corruption. That approach may find favor with Europeans who might be shocked – shocked! – that the equally corrupt practices of an elite clique of crony capitalists might leave them in financial ruins. It invites comparisons with The Great Depression in its potential magnitude:

The world is watching Europe, waiting upon a solution. It’s not just the euro that’s at stake. If the euro fails, so too does the 27-nation European Union. Bank lending would freeze, stock markets would likely crash, and Europe’s economies would follow. Nations in the euro-zone would see their economic output decline, though temporarily, by as much as 50%, according to UBS forecasters. That economic meltdown would then spread to the U.S. and Asia, who would find themselves caught up in the credit freeze while their exports to Europe would collapse.

About ConcernedVoterInMass

  • The Angelic One

    Standard & Poor’s downgraded the credit worthiness of the world’s biggest banks including Bank of America, Barclays, Citigroup, Goldman Sachs, JP Morgan Chase, & Moran Stanley, & Wells Fargo. Was this done because S&P had an epiphany that not even the FDIC can cover the failures of these banks? What will happen when customers of these banks wake up one day & discover their deposits are gone?

  • MUST FAIL.  Following a softer version of the last Union to fail has the consequences of failure.

    We must put to bed this notion of socialism.  It is anti-Constituional and our adoption of it dooms is to failure as well.

    It’s a proven failure time and again.

  • Vote3rdpartynow

    We relinquish control of our 401(k) retirement savings to people we have never met and whose name we wouldn’t recogize if it appeared on our christmas card list.  We allow unions to educate our kids.  We demand government take ever greater responsibility for the outcome of our lives – including our health.  This is the new America!

    We have chosen to give up our own freedoms and liberties so that a group of self righteous liberal bureaucrats can run things more smoothly than we might.  The only problem is that those bureaucrats are con men and criminals and liars.  Which, of course, is why we should be sure to vote out of office anyone holding a political seat for more than two terms….

    Blocking and tackling for these con men are the talking heads in the mainstream media.  People, whose only positive attribute is a good head of hair and perfect smile.  Otherwise not a smidgeon of intelligence or integrity – this includes the local Fox station which insists reporting on a single perverse news story every day to get our attention…  This week they are talking about a teacher who starred in gay porn movies, which the local fox channel enhanced by showing scenes from one movie in which two gay men stroke each other’s stomachs and smile.  What a bunch of news losers…  Needless to say whenever they talk about gay marriage they show the 2 men sucking face on the steps of the state house.  Hey local Fox news losers – we know what gay men are and we don’t need to have you plaster pictures on our television to demonstrate the point…

    This is what the MSM reports on instead of reporting on more important issues.  For years a burdgeoning national debt mounted new heights every passing day without notice or attention.  The MSM failed to report on it until we are now faced with financial crisis.  Even now they would rather report on how much yucky stuff appears in apple juice in microscopic levels….

    I blame the MSM for lulling the average American into submission.  While Rome burns they prance the Kim Kardashians and Amy Winehouses of the world across their stage to hold our attention.