Prime's Worm Hole : The EU Collapsing?

Sunday, February 14, 2010

The EU Collapsing?

While America digs out from last weeks blizzards, in Europe they are about to be hit with a financial cataclysm of biblical proportions.

Collapse of the euro is 'inevitable': Bailing out the Greek economy futile, says FRENCH banking chief

The European single currency is facing an 'inevitable break-up' a leading French bank claimed yesterday.

Strategists at Paris-based Société Générale said that any bailout of the stricken Greek economy would only provide 'sticking plasters' to cover the deep- seated flaws in the eurozone bloc.

The stark warning came as the euro slipped further on the currency markets and dire growth figures raised the prospect of a 'double-dip' recession in the embattled zone.

Read more: http://www.dailymail.co.uk/news/worldnews/article-1250433/Greece-debt-bailout-EU-leaders-split-euro-crisis.html#ixzz0fW9EzsVF

Never mind that last week Chancellor Merkel of Germany and President Sarkozy of France pledged their support to Greece, that all quickly vanished as the reality and the magnitude of Greece's problems were revealed. Combined with the reality that France and Germany simply don't have the financial resources to save the failing Greek economy.

Obviously Angela Merkel doesn't adhere to the Obama philosophy of economic strategy, specifically the "too big to fail" part of the Obama administration economic game plan. President Sarkozy and Chancellor Merkel have previously let it be known that they would not buy into Obama's deficit spending solutions concerning the recession and their plans for their countries; therefore, this most recent turn of events and change ion attitudes should not be of any major surprise to anyone.

Merkel and the others are seeing the writing on the wall and making the conscious decision to let Greece and probably Spain and Portugal got down the tubes in the next few weeks. Especially if their failure means preserving the rest of the European economy.

And if the European Union and the Euro are to become casualties of the aftermath (and it looks like they will), then so be it. In the present state of economic affairs, Merkel and Sarkozy have taken a correct position in my opinion. In times like these (when socialism has reached it's tipping point in Europe) it is time to look at the principle of every man for himself. And that is exactly what Germany and France are doing right now.

The twist will come when the collapse happens (which will be soon IMO). After which watch as France and Germany and others in Europe, turn to America for support and expectations that the US taxpayer help to bail them out. I wonder? Will America finally be prepared to tell the rest of the world to bugger off as the Brits would say?

I say that will only occur once we too are completely bankrupt. Which shouldn't be long now based upon our current rate of deficit spending.

Watch closely over the next five years as the global economic paradigm shifts completely in favor of the Chinese and Muslim Asia. China holds our mortgage and they are learning how to twist those screws for their own political gains. Taiwan will fall and Israel's continued existence is truly in peril in my opinion.

As the old adage goes.....'follow the money.' Those that have it and those who can create it will prevail, while those who dive deeper into debtor nation status can only watch and wonder what happened.

In the course of a generation, America has gone from being the indisputable leader of the world, to a position where we are teetering on the edge of social and economic collapse and third world status.

Bible prophesy said it would happen and it is happening.

2 comments:

CrisisMaven said...: "China holds our mortgage and they are learning how to twist those screws for their own political gains". Yes, but they won't survive long enough toenjoy the fruits. There will be much more hardship soon with a looming Chinese collapse bigger than the Soviet Union's.; February 14, 2010 at 9:56:00 AM GMT-5
Prime said...: I just went to your blog and read extensively of your offerings and analysis. Let me say....you are thorough.

Based upon you analysis? Then what happens when China collapses. America either collapses or is so weak as to be economically ineffective globally. and the EU tanks bringing down the entire global economic net.

My tea leaves say 'war.' Another global war. Only this time, the land grab will be massive by Asia.; February 14, 2010 at 12:31:00 PM GMT-5

Prime's Worm hole

This is a place for me to muse about the issues that affect our world. My world and my country and my life in particular. I can say what I want to here and those who may stumble across my musings, are welcome to comment,or not. America is under siege. Everything this nation has ever represented, is now being torn asunder and crushed by the onslaught of egalitarian socialism. All morals and social values have been devolved into the belief that systemic racism, is the only underlying cause or reason for any societal ills in America. And that representation, is nothing but a Trojan Horse argument. A means of getting the egalitarian camel's nose into the tent. And now that it has been inserted? There is mayhem and anarchy and burning and looting all across America. And the only questions that remains to be asked and answered? Are these. When is enough enough and when will the American people call full stop and take the law into their own hands, to repel this socialist based attack on the Constitution and our personal freedoms.

Thinking

It started out innocently enough. I began to think at parties now and then -- just to loosen up and be a part of the crowd.
Inevitably, though, one thought led to another and soon I was more than just a social thinker.

I began to think alone -- "to relax", I told myself -- but I knew it wasn't true.
Thinking became more and more important to me and finally I was thinking all the time.

I began to think on the job. I knew that thinking and employment don't mix, but I couldn't help myself.

I began to avoid friends at lunchtime so I could read Thoreau, Muir, Confucius and Kafka. I would return to the office dizzied and confused, asking, "What is it exactly we are doing here?"

One day the boss called me in. He said, "Listen, I like you and it hurts me to say this, but your thinking has become a real problem. If you don't stop thinking on the job, you'll have to find another job."

"Honey," I confessed, "I've been thinking..."

"I know you've been thinking," she said, "and I want a divorce!" "But Honey, surely it's not that serious." "It is serious," she said, lower lip aquiver.

"You think as much as college professors and college professors don't make that much money, so if you keep on thinking, we won't have any money!"
She exploded in tears of rage and frustration, but I was in no mood to deal with the emotional drama.

"I'm going to the library," I snarled
I headed for the library, in the mood for some John Locke. I roared into the parking lot with NPR on the radio and ran up to the big glass doors.

They didn't open. The library was closed.

To this day, I believe that a Higher Power was looking out for me that night.

Leaning on the unfeeling glass, whimpering for Emerson, a poster caught my eye, "Friend, is heavy thinking ruining your life?" it asked.

This is why I am what I am today: a recovering thinker.

I never miss a TA meeting. At each meeting we watch a non-educational video; last week it was "Porky's." Then we share experiences about how we avoided thinking since the last meeting.

I still have my job, and things are a lot better at home. Life just seemed easier, somehow, as soon as I stopped thinking. I think the road to recovery is nearly complete for me.

Today I took the final step...I joined the Democratic Party

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If you are able,
save them a place
inside of you
and save one backward glance
when you are leaving
for the places they can
no longer go.
Be not ashamed to say
you loved them,
though you may
or may not have always.
Take what they have left
and what they have taught you
with their dying
and keep it with your own.
And in that time
when men decide and feel safe
to call the war insane,
take one moment to embrace
those gentle heroes
you left behind.

Major Michael Davis O'Donnell
1 January 1970
Dak To, Vietnam

Captain Michael O'Donnell was lost in Cambodia on March 24 1970, while flying a UH1 rescue helicopter, trying to rescue an eight man LRRP team under attack in Cambodia. He was listed as MIA along with the eight he had attempted to rescue after his UH1 Huey was shot down by enemy fire. The official military report listed the eight as shot down 'non survivable' and 'non recoverable.'

Michael O'Donnell was submitted for the Congressional Medal of Honor for his actions that day. He was awarded the Distinguished flying cross, the Bronze Star, The Air Medal and The Purple Heart and he was promoted to the rank of Major (posthumously).

In 1978 he was officially listed as KIA by the Department of Defense.

A little about the philosophy of the author

The Borg Conspiracy is one man's purely pedestrian thoughts, independent musings and frequently cheeky commentaries...Mixed with an abundance of patriotism, love of God, and love of country.

My thoughts?

In my opinion........in another generation, all that will remain of our once great republic, may be little more than what is left to weather the passage of time in the form of a few obscure and forgotten monuments to the great American experiment.

If America should fail....let it be written as her epitaph.....died by her own hand. The greatest experiment in freedom ever undertaken, lost in the end to the pursuit of the illusion that egalitarian tolerance was more valuable than individual freedom.

Let us be warned.
Franklin, Payne, Jefferson. They all knew the consequences of the lack of vigilance and they tried to warn us. They gave us a document as our guide post. We were to guard it and revere it and use it to guide and govern our future and our posterity.

No one listened.