merde noir!

What a day?! Full of democratic competitiveness!

 

For once a Prime minister wants to ask the people about their opinion - okay it is 10 or 12 years too late for a now silly question and a last resort, only, of a desperate man, but his move suggests for a moment that there might be some democratic crumbles left - and then this referendum is washed away as, by chance, some other politicians are willing to further follow that endless Merkel-Sarkocracy of piling debts on debts on debts for the sake of what they call competitiveness and a united Europe; in case anybody refuses allegiance peace and freedom of and in Europe are supposed to be history! What an intelligent threat.

Apropos competitiveness: I regularly feel sick when I hear Madame Merkel praying this "...Greece must regain its competitiveness...!" What a nonsense! How come anybody can talk such b...s...? When last - since ancient times - has Greece ever been competitive? And if so, what industrial output would that refer to? Until 1974 Greece was run by a Military Junta! Forgotten? It had this beautiful, regulated and then floating/falling/fixed currency called Drahme which bought you nothing but may be an inexpensive holiday, some olives and if you needed some sheep! Nothing wrong with that; it covered a tax heaven-like ship emporium and similar set-ups and anything serious was imported against so-called hard currency. Basta!

And then, just in time, the banksters' new man heading the ECB, Europe's Worst Bank, reduces interest rates further even though inflation is climbing sharply with the line: "...The remit of the ECB is maintaining price stability in the medium term". And further (Bloomberg):

The ECB lowered rates partly because “what we’re observing now is slow growth heading toward a mild recession,” Draghi said.

He must have listened to Mr. King, just recently. Obviously mainstream allows any kind of merde noir.

It is hard to carpe such a diem; I know; keep trying!

Mister King, what took you so long?

A mere three years later

...it seems our professed intelligent leaders finally understand what they might be up to, just three years after Lehmann and well 20 years into what is an unregulated bonanza of Globalism run into the ground by Mr. Neo and Mrs. Lib! What we all are up to, they still have no clue! Some examples?

So the Governor believes in more debts will quantitatively ease the banksters problems, well done Mr. King! Just picking out one sentence ...

In addition to countries like ourselves, like the United States, like some countries in Europe we need to re-balance our economy; we need to slow the amount of domestic spending and boost our trade position to see our exports be the source of growth so that we are relying less on borrowing from abroad than we have been.

This tastes like a 50 year old soda. Apart from the strange construction of the sentence where an introduction like in addition to... ourselves... we need to ... obviously sees him badly prepared and/or terribly nervous the rest is pure rubbish; wishfull thinking, daydreaming in a world that has definitely moved much faster than Mr. King's enlightenment will ever keep up with. His is closely followed by Mr. Osborne's...

... the bank of England has made an independent judgement, ...it [>QE 2] is... a response to the deterioration in the international economy and it is also a response to the severe strains in the Eurozone...
...it will keep interest rates down, it will help boost demand, and that will be a help for British families..."

The most peculiar sentence of Mr. Osborne you will hear is "...the British Government has earned credibility with plans to deal with Government debts...". Media, journalists, bloggers, wake up?

Yesterday, the theguardian explained QE, Quantitative Easing:

QE involves electronically creating money, which the Bank uses to buy assets – mainly government bonds, known as gilts – from investors in financial markets. That pushes down long-term interest rates – a bonus for the economy – and gives the banks more money to lend out. The Bank doesn't actually print banknotes, it just credits investors' accounts. Its governor, Mervyn King, hates the phrase "quantitative easing" and prefers to call it credit easing.

Well, give me a break! QE 1 in 2009 was limited to £200 billion with hardly a penny of that reaching Mr. Osborne's families. If it did anything it retarded the race into depression by a fraction which now three years later a ludicrous 1/3 of QE 1 won't, rather can't do!

Here is a totally different judgement:

Much closer to reality, to the truth, to what we are up to and how banks and banksters are interconnected. The really frightening fact - as you hear - is: we do not even have a plan!

But back to the Governor whose mainstream sauce got me started on this subject again; how can one get away with talking pure nonsense and at the same time being three years, more likely 20 years late?

What kind of miraculous ingredients will he and his friends have to come up with when cuts into domestic spending, among others severe cuts into education, teaching, training, health and general infrastructure shall boost a trading position that is long gone anyway? Gone to China and it is China that invests in education big style!

Export: something all the countries in debt spirals are fancying, they all pray for the export miracle to happen: but in an unsound parallel it is regarded a clever free-market must and a share-holder-value's boost to export all those jobs that are regarded as cheap, dirty, stupid and/or not lucrative enough. So who was it that now makes all the toys, PCs, shoes, T-shirts, phones, stereos, suits, all the china, many cars, soon more trains and airplanes and then all and anything? The answer is China!!

Export: that is why they all take part in the race for a weak currency. Obama would love to see a strong Euro, so downgrading anything in Europe is based on his and his mates' hope this might get the Europeans sorted and the Dollar finally down. And it's China again...piggybacked on the greenback while spending its mountains of  green paper on buying itself into all kinds of resources, from land to energy and beyond.

He who laughs last laughs best; he will definitely be a king.

And mainstream takes it all!

Carpe diem!

P.S.:

From Daniel Hannan's telegraph comment: