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Monthly Archives: July 2011

“George, it’s not working.”

No, Restraint, Cuts and Living within your Means are definitely out. We must immediately cancel all cuts, do a vast amount of quantitative easing to “boost the economy” and rack up loads more debt. After all, we are still a fair way behind Greece in the debt stakes.

No, the reckless binge of the Brown years (“We have ended boom and bust.”) does not have to be paid for, debt does not matter, we have a right to economic growth of at least 3% and this has nothing to do with the world economy or indeed the rising price and increasing scarcity of oil, food and other commodities – or indeed an increasingly unskilled workforce unable to make anything the world wants..

It is hard not to conclude that the west is finished when we have such lunacy stalking these pages. What about:

  • What goes around, comes around.
  • The chickens always come home to roost.
  • You can’t have your cake AND eat it.
  • The world does not owe us a living.

A bit unfashionable, I agree, but it’s either that or the Balls-and-Brown method. Still, once we’ve had an economic meltdown caused by idiot politicians overborrowing, greedy banks and a Chancellor who studied history but apparently not the South Sea Bubble then something better may emerge from the other side of the coming depression.

Or of course the Chinese, Russians and Arabs could bail us out, buy everything up and we work for them – principally as housemaids, butlers and lackeys etc.

 
 

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Who needs a Debt Ceiling anyway?

The debt ceiling’s already been raised 70 times without a problem – until Obama…(“Guardian” blogger.)

HILARIOUS!

If raising the debt ceiling is “without a problem”, I am mystified as to why bother with one at all? Let’s all just keep borrowing ad infinitum …… after all, the more you borrow, the more your lenders are chained to your survival – as we have seen with the smug EU elite bailing out Greece to save French and German banks.

No, I’m against any debt ceilings …. on and up to infinity and beyond … YIPPEE …..

And inspired by this infinite elasticity of debt ceilings I’m off to see my bank manager to negotiate the removal of my own debt ceiling. If ONLY I’d thought of this before!!

 
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Posted by on July 27, 2011 in European Union

 

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Lagarde – is this the best the world could do?

‘Like Greece we cannot afford for the US to fail. (Christine Lagarde)

THESE PEOPLE ARE BARMY. Greece is a MICROSCOPIC country. If the whole of global finance and teh future of Europe depended on saving Greece, we really ARE doomed. In fact, Greece needed to be saved to make sure the French banks got the FIFTY-SIX BILLION EUROS they idiotically lent the country. Saving the face of the prattish EU elite also played a part.

As for the US, they are clearly bonkers – the solution to their horrendous debt crisis is apparently to borrow more. YOU COULDN’T MAKE IT UP.

So, Lagarde equates Greece to the USA. Isn’t that POTTY???? How much does this woman earn to come out with such rubbish?

I went to see my bank manager the other day. He said:

“Snuggs – you are hopelessly in debt and will never be able to pay it back. However, to make sure you can keep paying us the interest on it (and so we don’t have to write it off our books and see our shares plummet) the bank is going to lend you another few million. When we reach the point where you can’t afford to pay the interest then we’ll lend you some more so you can pay the interest on the interest …..And let this be a lesson to you.”

No, he didn’t say that – but you get the point ……

 
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Posted by on July 26, 2011 in European Union

 

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And when do we know the DETAILS?

I live in Germany, and while prepared to help out my fellow man if deserving I am blowed if I agree to this farcial stitch-up.

A) Any spare dosh I have (which I haven’t) I’d like to send to starving Africans, not feckless Greeks who don’t pay tax, have two jobs one fictional, who retire at 55 and whose pensions are bequeathed to relatives.

B) Greece entered the euro ON A LIE. They BLATANTLY FALSIFIED their statistics and thereby sealed their own doom (except that the Germans have been conned into bailing them out.) The entry criteria to the euro were devised to AVOID just this result. The Greeks LIED and CHEATED and EVERYONE KNEW THIS.

C) The EU elite has a project to create a European superstate which has NOT been offered to the people to vote on. I DO NOT WANT IT, DO YOU? The next war will come when one member of this monster wishes to secede from the corruption, venality and arrogance of Brussels and we’ll have the American Civil War again but much worse.

D) The EU elite have gone off to their vast posh houses bought from their vast salaries and hardly ANY income tax with their smug arrogance renewed at having connived with the French (always keen to get Germany to spend its money on someone else) to bail out not so much the Greeks (WHO WOULD BE BETTER OFF OUTSIDE THE EURO) but German and French banks, the latter of which have loaned FIFTY-SIX BILLION EUROS to Greece. WHAT RECKLESS FOLLY. Now the rest of us (especially the Germans) have to pay for this.

E) What the hell is the IMF to do with this? It should not have to help out rich Europeans; there are plenty of desperate, states in need of help. I suppose having a French director has nothing to do with it?

F) Much of the blame for all this comes from STUPID national leaders who CANNOT STOP BORROWING and living beyond their means. Do we hear anything about this? Do we get ANY apologies from ANY politicians? And they wonder when they are so unpopular. NO WONDER THEY DON’T GIVE US A VOTE. It is bordering on fascist tyranny. The peoples HAVE NO SAY.

I am NOT a eurosceptic. I am British, worked 10 years in France, 3 in Germany, 20 in the UK. My first wife was Spanish, my second German and we now live in Germany.  I also speak four European languages. So they can’t lay on me the usual Goebbelsesque eurosceptic slagging-off as being “un-European”. However, I DESPISE the lies and arrogance of the quasi-fascist EU elite, which doesn’t care a DAMN about public opinion. We couldn’t vote on the Lisbon Treaty and if we did (see Ireland) we had to vote again till we got it right.

The whole thing stinks. This reckless speed to force European political integration risks destroying the whole thing. I for one – being still “British” for the moment, have joined UKIP. This whole thing has gone far enough. And the EU wants even MORE from us than the €x million PER DAY they already get. They want to force (yes, FORCE) the English football team to wear an EU logo. WE ARE NOT A SODDING COUNTRY AND DON’T SEEK TO BE. I DO NOT WANT TO BE RULED BY SOME EUROCRAT FROM BRUSSELS, FRANKFURT, BERLIN and PARIS.

The deal was the usual stitch-up between Germany and France, as it ALWAYS has been. They show UTTER  CONTEMPT for the rest of EU members or of course for democracy. Bailouts are ILLEGAL according to the Lisbon Treaty AND the German Constitution. Germany was promised faithfully before the euro started that it would be “serious”. It is NOT serious – Greece CANNOT live in the euro and the EU’s own economists TOLD them so. They didn’t care, as it suited their political agenda, and stuff the rest of us and in particular our money.

I vomit on this deal. It is based on LIES and arrogance. AND it does NOT solve the underlying problem that Greece’s economy and others are TOO diverse and this WON’T BE CURED by diktats from Brussels. It is in fact INCURABLE, which is why the euro does NOT suit all EU members as EVERYONE KNEW  at the time of the euro’s launch.

 
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Posted by on July 23, 2011 in European Union

 

Failing to square the circle

Monetary union, always unworkable, has set in train a European disaster

This is good, Simon. The USE project is pursued by unelected zealots, with utterly contemptuous regard for the people. Unfortunately, the current crop of national politicians is so poor that the zealots are – for the moment – succeeding.

But NOBODY has been asked if they want a United States of Europe. Hardly ANYONE has been able to vote on the Lisbon Treaty. Those that did had to revote until they got it right.

All of this is accompanied by vicious propaganda (paid for by the plebs), whereby ANYONE criticising the project is deemed “un-European”, where if the Germans hint at baulking there are subtle hints about the past …..

France is never so happy as when getting the Germans to pay for everything. A stultifying USE bureaucracy suits the French, since invasive and pervasive state control is their forte.

As for Sarkozy bleating on about “Greece is a special case – we won’t do this for anyone else.”, does he think we are morons? If you study the statistics for everyone else, many may soon become “special cases”. The stats for Italy and Spain are horrendous. The euro rising? Perverse and disastrous, since exports will be harder. Germany will be OK, since it exports heavy and hi-tech machinery … the PIIGS are doomed …… except for tourism, but if the euro keeps on rising (thanks to Germany) people will prefer to go to Turkey, Bulgaria or elsewhere. And do the Brussels mafia think the Germans will for EVER pay for other countries’ recklessness?

The smug, complacent, lying EU elite (YES, LYING – they PROMISED Germany would NEVER have to bail out weaker economies and they also KNEW that Greece was lying about its statistics to gain entry to the euro and thus to billions in German money.) are congratulating themselves on this new success of their project – greater fiscal integration ….. but it will be short-term. The humungous irony of all this is that their frenzy to push their project forward will end up destroying it.

Finally, do they even BELIEVE in democracy? WIll the PEOPLE ever get a chance to VOTE on their project? I doubt it; we are too stupid after all ……

 
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Posted by on July 22, 2011 in European Union

 

YET ANOTHER BORINGOHSO RANT ……

BORROSO HAS A GO AT MERKEL …….

Borroso, one of the EU’s TWO Presidents, is a fool. Nothing is easier for fools than to brainlessly demand that Germany put her whole economy into the black hole of PIIGS’ recklessly-derived debt.

Borroso, WE LIVE IN DEMOCRACIES. Is Merkel supposed to IGNORE the wishes of her people? THAT IS YOUR WAY BECAUSE YOU ARE UNELECTED POLITICAL CRONIES AND BASICALLY DO WHAT YOU LIKE. The people of Germany and elsewhere have a RIGHT to their opinions and the majority do NOT want a financial union, let alone a United States of Europe.That is YOUR project. YOU lied about Greece’s finances on their entry to the euro. YOU lied to the Germans about never having to bail out other countries. In fact, BAILOUTS ARE ILLEGAL. You are a cheap, lying, fifth-rate Eurocrat without a clue. WE DO NOT WANT TO BAIL OUT GREECE. If this makes problems, TOUGH. IT’S NOT OUR FAULT and YOU are accountable. You let Greece into the zeuro ON A LIE and then you allowed her to rack up debt assuming Germany would pay and you ALSO ignored stupid French and German bank lending to Greece, a country that an IDIOT could have seen would NEVER BE ABLE TO REPAY IT. Go back to olive-farming in Portugal. At least that’s an honest and worthwhile job.

And WHY don’t we want to bail out the PIIGS? We are NOT euroscpetic, just commonsensical. Bailouts WILL NOT SOLVE THE UNDERLYING PROBLEM, just as your OWN economists told you at the start of the euro. The economies are TOO DIVERSE.

As for blaming the markets, I despair. A European Ratings Agency? MORE FATUOUS AND UNNECESSARY EXPENSE. Yet another vastly-expensive Eurobureaucracy. The people of Europe deserve better. I am very angry, Borroso, with your pretentious, pontificating rubbish.

And where is the OTHER President? Having a few days off? Or rushing round the farmyard squawking about the nasty, mean Germans like all the rest of you?

 
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Posted by on July 21, 2011 in European Union

 

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YET ANOTHER EU SUMMIT

NOT ANOTHER SUMMIT TO SOLVE THE DEBT CRISIS???

There is no limit to the number of summits they can have as  talk is cheap and hysterical insanity is always easier to bear if you are surrounded by like-minded very self-important people.

Besides, there is no shortage of champagne and stuff for the troughing that accompanies all these summits. I do hope, however, that they will forego the usual group photos with them all smiling inanely as if they had achieved something more than collective bankrupt Europe while blaming the Anglo-Saxons, markets, ratings agencies, China, fate, God, bad luck …….

 
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Posted by on July 19, 2011 in European Union

 

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BRUSSELS SEEKS TO UP TAX HIKE

Yippee!! Paying more to Brussels! Hooray! Now even more of them can have salaries higher than Obama and pay less tax than anyone in Britain.

It’s all such an OBVIOUS plot. The MORE they raise directly the more they can claim to represent the “United States of Europe”.

Who the hell and WHEN will we stand up against this rubbish? We DO NOT WANT A USE. We were not ASKED for it and have not VOTED on it. We do not WANT the project of Kohl, Mitterand and the Brussels elite, which is of course being foist on us bit by bit.

In principle, I do not want the euro to collapse, but if that is the price for putting an end to this fascist nonsense, then bring it on.

“The EU has brought an end to war in Europe.” HA, HA …actually, it was the Anglo-Saxons and Russians who did that. The next war will come when one of the United States of Europe tries to secede, fed up with the corruption and venality. Then you’ll see a war.

 

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Basket Case Italy

ITALY? Time to foget the glory of Bernini, Da Vinci and Michalangelo and look at what is happening now, a venal political elite has brought the country to the point of financial chaos. Here are some telling statistics from “The Telegraph” yesterday. 

The Italians can run their affairs as they like (till Brussels takes them over like everyone else) but why anyone ELSE should pay for this nonsense is a mystery.

The MPs earn an average annual salary of €140,000 – almost twice the pay of British MPs and more even than MEPs earn for riding the EU gravy train. Their benefits include generous pensions, free flights and train travel; and MPs share with public officials around the country the use of a government fleet 30,000 chauffeur driven cars, equipped with flashing blue lights to help them cut through the traffic, at a cost to the Italian taxpayer of €2 billion a year.

Nor is it just politicians in Rome who are a burden on public finances. Regional governments drain vast sums from the taxpayer, with the administration in Sicily costing €158 million a year, while the president of the tiny Alpine province of Bolzano, part of the autonomous region of South Tyrol, earns €320,000 a year – €36,000 more than President Barack Obama.

MPs’ reluctance to curb their own lavish lifestyles is mirrored by profligacy throughout the public sector, earning Italy the dubious distinction of having one of the highest debt levels in the world – it currently stands at 120 per cent of annual gross domestic product, second only to Greece within the euro zone …….

The huge reach of the black economy, with vast numbers of Italians failing to declare their taxable income, is a further sign of the impotence of Rome. It is estimated to amount to 27 per cent of Italy’s annual GDP – almost on the same scale as Greece’s legendary tax fiddling.

The most appalling statistic, however, concerns FIAT, and makes you wonder what the future holds for Italy – and Europe.

On the outskirts of Naples, in the shadow of Vesuvius, the town of Pomogliano d’Arco is home to the southern factory of Fiat – the country’s most important manufacturer and the biggest private sector employer. But this is one of the least productive car factories in Europe, turning out just five cars per worker last year – compared to 100 cars a year for every worker at Nissan’s Sunderland plant in the UK.

It is kept open only through a combination of government subsidies – in the guise of training grants and skills courses – and huge political pressure. In a region already scarred by Italy’s highest unemployment, the loss of a further 4,400 jobs would be a terrible blow.

 
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Posted by on July 17, 2011 in European Union

 

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Denial or Lies?

Europe’s leaders need to drop their denial

Denial? They are LIARS. Denial is in their blood.

EVERYONE KNOWS THAT GREECE ENTERED THE EURO ON A LIE. The EU’s OWN economists told them it wouldn’t work; they IGNORED THEM.

Once Greece was in, German and French banks poured in loans that an IDIOT would have known couldn’t be repaid. ON THESE BANKS’ HEADS BE IT, NOT ON OURS. And national leaders and the EU elite DID NOTHING. Even the GERMANS did nothing, even though they were promised the euro would be “serious”.

One disgusting ferature of all this is the subtle way France and others play on Germany’s guilt for WWII, so the Germans feel constrained to go along with any LUNATIC enterprise just in case they get accused of being “arrogant” and “typically German”. And ANYONE who criticizes the EU gets accused of course of being a “euro-scpetic.” by the Brussels Inquisition. Truly it is all NAUSEATING.

I just hope that the lying, venal, arrogant EU elite and a good few national leaders who connived in all this get their comeuppance. So far, it is only the PLEBS who are talking the hit.

I am in danger of throwing shoes at my telly the next time I see Jean-Claude Juncker emerge from a meeting of “leaders” to announce yet anouther bailout. Some of these fatuous nincompoops should get out of Brussels and go and look for a real job; sweeping the streets of Naples or something.

 
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Posted by on July 13, 2011 in European Union