And yet another worst-link of the day requiring some but minimal worst-attention.
Ok. Dear worst-reader, worst-writer will now come forth to be honest regarding choice of links posted here. I do not actually read zerohedge.com on a regular basis. I skim it every once-a-once. The link above is the second one I’m linking to in a matter of days. The thing is, I have a friend or three that read zerohedge regularly along with MarketWatch, WSJ, FT, etc. and they all seem to enjoy sending me all this business stuff because they know that I know nothing about it but am better than most and as entertaining as some when it comes to spewing bullshit. Also, since I’m usually the counter part yelling and screaming at these “business” minded individuals about the fact that they have to stop corroding their minds by ONLY reading stuff about business and economics, you know, read some Shakespeare or something, they are doubly entertained. That said… I thought it time to start including some of my responses to these knuckleheads.
Dear worst-friends who read too much econ and business websites. Worstwriter personalities think of too many things at once when you send me articles like this (see URL above). For example, worst-personality-1 can’t help but associate world Econ crisis with ww2. Worst-personality-2 thinks in more modern terms. So for the sake of shortness (not little people) let’s try and respond to 1 and see where that leads. (2 is probably too boring and I’m already bored responding to you guys.)
The issue and or question sent to me along with the link (above) was about whether or not the EU was going to go down the path of war mongering (like the US has done) in order to deal with its debt crisis. My response was thus:
The short term issue about propping up debt ridden countries is not about wars. If anything the current banking reaction is actually about 1929. If you recall, and things are very similar today, there was a huge amount of speculative wealth lost across the board at the outset of the depression but more importantly, there were alternative political systems waiting in the wings to decided upon democratically. Many people FALSELY believe that world war 2 is what saved the economy (maybe this is your association to war). But what really saved the world economy turned out to be government policy that favored big banks. Hence Roosevelt’s policies, today ridiculed by conservative whack jobs, were in reality the catalyst that would lead to the crazed greed voodoo economics 35yrs later, i.e. Reaganomics. Roosevelt saved political conservatism because he got the banks, through their fractional banking trickery, to get money to the confused voting public! All American whack jobs should be more respectful. That said and before I get too far off topic…
Read the zerohedge.com article (see URL at top of post) and my impression is that some rational thinking bankers, i.e. bankers that are not propping up war machines and/or consumer debt laden societies that have politically weaned their economies of manufacturing and thereby sold their souls to the Anglo-Saxon speculation god, (Greece, Spain, Italy, etc) need to find ways to redistribute national wealth before begging for handouts to cover the empty pockets those nationalists actually stole from (Greece and Spain great example here). Again, what conservatives truly feared from the depression was the onslaught of a public that would hold them accountable while communism was waiting in the wings. European bankers led by the Germans know this very well. The European debt crisis will not be solved by redistributing wealth from Germany to the debt laden Anglo-Saxon bank driven countries. So maybe it’s time to rouse Das Volk another way.