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It’s Trichet’s fault, apparently

07 Aug

Trichet’s failure to offer full ECB support piles on the misery

FOR GOD’S SAKE – IT’S NOT HIS JOB TO OFFER “FULL SUPPORT”. IT’S NOT HIS MONEY. HE HASN’T GOT THE MONEY. THAT’S NOT HIS REMIT. HE HASN’T GOT A MAGIC WAND, ANY MORE THAN ANYONE ELSE, EVEN GORDON BROWN.

Don’t you understand that sometimes the BULLET has to be bit? Europe and the world are going to take a massive hit. There is no mechanism that man make massive debt disappear overnight.  There is nothing to be done but sit back and bear it and put in place measures to stop it happening again.

These include the BLEEDIN OBVIOUS idea (now championed by BurlesqueOnly himself) to make it LEGALLY BINDING on governments NOT to borrow more than 3% of GDP on pain of imprisonment.

Above all, we don’t want this crisis to play the game of the EU elite by bringing much closer the United State’s of Europe they so desperately crave. You can see why. Who wants to be Prime Minister of Luxembourg when you can have a shot at being President of Europe?

The crisis has been caused by IDIOTIC NATIONAL GOVERMENTS ‘(except Switzerland – not even in the EU – what a coincidence), not the fact that there is too little central control. Do you think that a centralised government would of necessity be any MORE financially responsible, with the VAST spending the EU specialises in? As for VAST entities, look at the USA. Being vast hasn’t help them. Being EUALLY STUPID as the Europeans has brought them down, NOT the ratings agencies, but STUPID GOVERNMENTS.

I think the public gets this; many commentators seem not to. Still, we must beware of “populism”, mustn’t we? After all, the elite knows best.

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