By Ted Belman
Guy Milliere, a frenchman, explains Why Europe is dead..
After acknowledging some last dying gasps he avers
-
Europe died because she has slipped toward socialism and the establishment of welfare states that gradually destroyed the spirit of enterprise and the will to compete… and because the slippage instilled a mentality of dependency and passivity. The Obama administration is not formally and explicitly socialist, but its members have set gears in motion that could lead to structures facilitating creation of a European-style welfare state. The health care reform signed into law a few months ago is but one of these gears.
Europe died because, in most European countries, redistribution systems are in place allowing more than half the population to pay no income tax and receive generous government benefits. This population segment is consequently always inclined to vote to raise taxes on the other segment, which makes victory nearly impossible for candidates campaigning to cut taxes. The Obama administration has begun to implement mechanisms designed to drag the United States in exactly this direction.
Europe died because the welfare states’ redistribution systems generated slow growth, high unemployment and low expectations, and because dependency and passivity created an atmosphere of irresponsibility and a preference for the present that led to a declining birth rate and to accelerated aging of European populations. The USA is not yet there, but growth is sluggish, unemployment is high, poverty is spreading all over the country, and the left is trying to instill a spirit of irresponsibility and a preference for the present that appear alarmingly similar to what prevails in Europe today.
Europe died because most of her education structures, from primary schools to universities, have been taken over by leftists and produce more misfits than people with marketable skills. Most American universities still carry and transmit a quest for excellence, but faculty adherents of political correctness who sow seeds of destruction in their courses must be unhesitatingly uprooted, as many former students go on to become journalists, politicians, teachers, professors and other agents of influence.
After listing a number of other reasons, he concludes
- The USA is not there yet. But seeing what the Obama administration and the leftist Democrat majority in Congress have done in less than two years, one could fear the worst unless a change of direction occurs in the near future.
Tea parties have shown that America is still alive and that the American people have no intention of suffering the fate of Europe. The November 2 election will have historical significance: some frightening drifts must be stopped before it is too late. Too late means that the United States would be well on the road to what is happening in Europe. The situation in Europe is more than a failure. It is a disaster that many observers have yet to fully assess.
If the U.S. followed Europe on the road to disaster, it is freedom on earth that would be seriously threatened.
I fully agree with him. This is why I support Sarah Palin. America depends on her. Israel depends on her.
Yamit,
You don’t even seem to know that Egypt is one of the two Arab countries that have signed peace treaties with Israel.
Like I said – you don’t have the intelligence to grasp the damage that you do to the interests of Israel.
The USA can help anyone it chooses to. Only a misguided ingrate like you can deny that it has given Israel more than anyone else, in addition to guaranteeing its survival.
What you did in the DMZ, and Vietnam and in years past for Israel is ancient history. Perhaps your experience has clouded your judgment. Today, only Israel’s enemies can take comfort from your thrash.
I didn’t call you name I just described what I think you are based on every comment you have made since coming on to Israpundit.
He seems to confuse abuse and name-calling with intelligence while he works tirelessly to drive a wedge between Israel and its only REAL ally in the world,
I think if this is the best you can bring to your table it has been worn thin and it is quite hollow as a factual point in support of your boorish contentions. America supplies Egypt with 2 billion a year without the condition of 75% originating in America. That 2 billion thus frees up an equivalent amt by Egypt to purchase from other sources another 2 billion in arms. Egypt has only one defined enemy for the intended use of all that American benevolence and that is to eventually use that American Largess to attack and annihilate us.
Even the Mafia would not be more duplicitous. I don’t withhold blame from our pygmy leaders either. The best that I can say about any of them is that they have all let us down and here I am trying to be kind.
Whether I am pro Israel or not , let me ask you how many Muslim Terrorists you’ve killed in your life. How many of Americas enemies have you fought in your life? Between you and me who is sitting on ground zero were we to be attacked with nukes?
I have spent 16 months on the DMZ in Korea, 3 months training S. Vietnam Army. Been in 3 wars in Israel and over 15 years of yearly active reserves. I was ethnically cleansed thanks to a Jewish traitor and an American antisemitic president.
Before you open your stupid mouth and call anybody not supportive of either Israel or America, look to your own cowardly self whose greatest claim for being a patriot is that you claim to have paid taxes. Oh you also have a big mouth that spouts as lot of jingoism’s and anti Jewish stereotypes.
Mer,
Canadians are placid and ultra-politically-correct compared with what you will experience in Israel.
Here we see Yamit making my point. He is just one example of a person who pretends to support Israel and yet defends the liberal Jews who voted 78% for an anti-Semite like Obama. He has even managed to fool some Israpundits that he is a supporter of Israel, but the evidence proves otherwise.
He seems to confuse abuse and name-calling with intelligence while he works tirelessly to drive a wedge between Israel and its only REAL ally in the world, which has GIVEN Israel literally BILLIONS each year in cash and kind and protects its interests at the UNSC.
If you are representitive of the American conservative right, maybe those Liberal Jews might have been not so wrong in their 2008 choices. That said you are constantly throwing in our faces here the reported 78% of the Jews who voted, that voted democratic. According to my calculation to raw numbers; that comes out to approx. 2-2.5 million voters. Obama won by 53-44%. The Jews except in your Jew hateful mind had no influence on the outcome of the election. That said, over 90% of Blacks and over 65% Hispanics voted democratic.
You say you are Catholic? Well: Nationally Obama captured 53% of the Catholic vote, a 13-point swing from 2004 and the largest advantage among the group for a Democrat since Bill Clinton. Obama also cut in half the Republican advantage among Protestants. And he made significant gains among regular worship-attenders. Those voters who attend religious services most frequently are still most likely to cast ballots for Republicans. But Obama won 44% of their votes, a 19-point shift in the category that, after the last presidential contest, inspired pundits to diagnose the existence of a “God gap.” Voters who worship at least once a month preferred Obama 53% to 46% over McCain.
For Catholics, as for other Americans, the economy became the dominant issue in the election. Few said that abortion was the most important issue. In addition, the anti-immigrant rhetoric from the Republican base chased Hispanics away from the Republican Party. Joe Biden, an experienced Catholic senator with working-class roots, helped top of the ticket with Catholics much more than did Sarah Palin, the ex-Catholic evangelical governor of Alaska.
I would say to you, an antisemetic fascist that it was your Catholics and Blacks more than any other ethnic or religious/ racial; sector that gave you Obama. That said Romney or any other 3-4 Major Republicans would have or might have swung the election despite the economic fall. McCain’s stupidity and pallin Lost the elections more than obama and the democrats won. The 2008 elections was the republicans to lose and they did.
I have my criticisms of the Jews but at least I think I am rational enough to put things in their proper perspective. I have never seen an more inept run presidential campaign in my memory and The Republican ticket is what lost the elections and certainly not the miniscule Jew vote.
Just based on numbers and their impact, it was the Catholics, Blacks and Hispanics who gave Obama his victory along with a lot of very stupid conservatives,
Next time you feel inclined to Bash Liberal Jews lets include Liberal Catholics and Protestants. Oh, some of my best friends are conservative American Catholics, They are few in number and a dwindling constituency. Most belong to Obama labor Union support.
If you want to dissect numbers I’m game.
AE. What the HELL makes you think I dont deal with them now? Here in Canada? Your an INSULT.
Mer,
Yesh, right. It works in the safety of Canada. Wait till you have to deal with real Jewish liberals and wedge drivers face to face.
AE. Dont worry about trying to toughen me up. Its a lost cause. Many have tried and all have failed. I have a different type of tough and I like it. It works for me.
Ted,
Mer’s only problem is that her skin needs to be a little thicker. I’m just toughening her up to deal with what she will encounter in Israel – liberal Jews who can drive one to distraction and those with the hubris to pretend that Israel does not need its only ally. Am I wrong about the latter part?
As a conservative Tea Party activist I am a supporter of Stephen Harper, and an opponent of Canada’s liberal pretenses, which they can get away with because they have the US as a safety net.
Thanks for your support Ted. It is GREATLY appreciated. Jus to set the record straight. I am not anti American. I disapprove of their governments foreign policy. I have worked with and for Americans and also attended school there. Their schools have GREAT spirit. Someone who behaves like a pighead can come from ANY country.
AE: you have to fight a bad administration and you do.
Canadians used to have a pro palestinian government but they put them out of office by electin the Conservatives. The Conservative Government is a world leader in supporting Israel in the US and elsewhere knoeing such support can cost them in the ballot box.
What’s to be gained by dissing Canada or Mer.
Mer,
I always bat 1000 when I have bad guys on the other side because lives depend on it, i.e. the enemy that some of you forget about because you are so busy demonizing Israel’s only REAL ally.
I KNOW that you stand up to the anti-Semites around you, which is why I am so nice to you.
Actually, you are confusing the Grand Caliph Obama with America. He is an aberration who was unfortunately elected with the help of 78% of American Jews, so don’t blame ME for that atrocity, which I fought against tooth and nail. However, even HE wasn’t able to stop the BILLIONS we GIVE Israel in aid every year.
I have said time and again that Netanyahu should ignore him unless he can make the Palis accept Israel’s right to exist and renounce violence, which won’t be until hell freezes over.
The real polarizing people are those who try to drive a wedge between Israel and us. I have identified some of them by name. YOU decide where YOU stand.
“You are either with us or with the enemy.” – President George W. Bush.
Ted,
You are absolutely right. Mer is “standing by”, just like the entire country of Canada always does until a crisis is over. Then they get busy keeping the peace. Afghanistan is an exception for which I am grateful, unlike the ungrateful Israelis and liberal Jews who work so hard to demonize the US and drive a wedge between Israel and its only REAL ally.
Obama was elected with the active support of 78% of American Jews, 96% of American blacks and 60% of American Hispanics. Unlike Mer, I am not “standing by” but actively raising money for campaign ads to get Tea Party conservatives elected so we can clip his wings in a couple of weeks and then boot him back to Chicago in 2012.
As a Canadian, Mer is standing by her government that stands by Israel at the UN. More than Obama is doing at the UN.
AE. WoW. Your batting a thousand eh? The FACT that I DO stand up to antisemites UNTIL THEY CRUMBLE is a BIG HELP to Israel the U.S. and ALL citizens WORLDWIDE. You dont know me. You dont know my involments. Face it. America is polarizing which isnt helpful to ANYONE. Have a good day eh.
Me too, Mer. Sorry, but you don’t have what it takes to be an American, or you would have been one already.
Memo to Ted: Don’t worry. I’m just toughening her up for life in Israel, where she may have to deal with Yamit and assorted jihadis as well:-))
If you were an American you would actually have to DO something to help Israel, rather than passively opine from afar. At the very least work to get rid of the anti-Semite who fooled 53% of the US electorate, including 78% of American Jews and other assorted minorities to sneak into the white house.
I say this because his percentage of white voters was the same as Al Gore’s. However 96% of blacks, 60% of Hispanics and 78% of Jews voted for him and put him over the top.
Yeah, I remember Martha Stewart – the ex-con. The last time I checked, Martha Stewart broke the law all by herself.
Sarah Palin was demonized by the political left wing – she’s an icon of the right and much of the center. Todd Palin has already been there and done what you are now hoping he can do. He can kick liberal ass, change diapers, help the kids with their homework and cook dinner all at the same time, without missing a beat. He’s just as much an “achievement feminist” as his wife is. Which is why the “abortion feminists” hate their guts.
Plus the guy looks like a movie star and shoots his own food and races ice machines across Alaska in weeks-long races through the wilderness. What more do you want from the guy?
When there were rumors in the George Soros sponsored liberal smear-media that they were splitting up, Sarah went on TV and said, “Are they nuts? Have they SEEN Todd?!”
Get with it, Mer. You need to catch up on your current American events.
I am sooooo glad that I am NOT an American. Palin you go get em girl. You certainly have your work cut out for you. Between the over amplfied male tetosterone and the lovely oh so supportive felines. Remember Martha Stewart? Look at what corporate America did to her. Overkill. vicious. I hope your husband isnt like 75 per cent of other American and I hope he can handle you being in the limelight.
Mer,
Now you are sounding like Yamit and Max.
The short answer is we care about Israel more than those who want to drive a wedge between us for reasons that are not clear to me. In addition, we hear from Israel’s REAL elected leaders, as opposed to armchair warriors opining from the safety of Canada, that Israel needs every dime and fighter jet we GIVE it. We cannot let the gracelessness and ungratefulness of a few misguided souls keep us from confronting our real target, radical Islam.
Like Yamit and Max, you keep denigrating the leaders of Israel by insinuating – falsely – that Americans are making decisions for Israel.
While I count several conservative Jews and Israelis as friends and fellow-warriors in the battle against the liberal hordes and Islamic radicals, I have been on the receiving end of liberal American Jewish zealots like Alan Dershowitz and several other American Jewish liberals.
If you are not aware that fundamentalist Christians are among the biggest supporters of Israel, at least in America, then you will have to continue to embarrass yourself with your ignorance of this fact.
I decided long ago that there are some things that are so important that false impressions and misrepresentations about them cannot be allowed to stand in a public forum. Other than that I routinely allow sane and sensible people to have the last word.
A.E. lol. condescending sexist and now patronizing. WoW. Quite the track record. Tell you what since the U.S. has other geopolitical interests other than Israel why doesnt the U.S. just back off then and leave Israel? Typically Jews dont appreciate dictatorship anyway for some strange reason. Obviously you have never been a Jew on the receiving end of some of the Catholic and Christian zealots. Count your blessings for that. Enough said. As you pointed out earlier this is getting off topic. But I am sure you will have some kind of retort as you like to get in the last word. Go ahead.
Mer,
No one knows better than I do that Yamit doesn’t represent all Jews – he doesn’t even represent the nuts. He is in a case by himself.
Also, I can assure you that my Christian faith has not prevented me from having several politically conservative American Jewish friends, including Rabbis.
There is no authentic Christian Church that is persecuting Jews as far as I know – Israel’s most steadfast American supporters are fundamentalist Christians. Israel’s opponents are American political liberals, including American liberal Jews – the kind who voted for Obama in spite of his anti-Semitic background among black liberation theologists like Jeremiah Wright, and jihadi mentors like Louis Farrakhan and Rashid Khalidi.
What you don’t seem to understand is that the partition of 1947 was the original 2-state solution. It was accepted by Israel’s original Zionist founders and would have been a fait accompli if the Palestinians had accepted it.
The US is not aiding any country that are openly enemies of America. This is a gross misrepresentation, even though some US allies that are Muslim often seem to play both sides. However, countries like Pakistan and Saudi Arabia are also enemies of Al Qaeda, have been attacked by Al Qaeda and the Taliban, and have done more in the war against Al Qaeda and the Taliban than Israel has.
What you also seem incapable of understanding is that the US has other geopolitical and business interests other than Israel, and some of them are with countries that are Muslim majorities.
Israel would be far worse off if the US did not work with these countries, because they would then focus entirely against Israel.
Thanks Ted.
Mer. I like you. You take the heat without getting riled. You are tough and resilient. You have character and commitment.
A.E. Thanks for your understanding. Yamit is not representative of all Israelis or Jews for that matter. When I first came to Israpundit he lambasted me regarding my criticism of some old school rabbis. I didnt bat an eye. I am not an authentic Jew according to him or the North American Rabbinical. THEY ARE WRONG. I do have Jewish blood in my veins. It may not be pure. It may not be 100 per cent but its enough to cause the antisemites that I know to HATE MY GUTS. Buts its ALL GOOD. I may have lost all of my extended family but I have a great supportive husband and kids. We have also been slam dunked by some Jews but that doesnt change who or what I am. Your Catholic so you wont be well received by Jews because the church has and still is persecuting them and you have to understand that America and you are using emotional blackmail. Israel could stand on its own financial if America would stop aiding her enemies which are your enemies too.
Mer,
Again, lighten up. I apologize for pulling your leg and I didn’t mean to be condescending. Doesn’t being a lifelong supporter of Israel buy me any brownie points?
I am a firm believer in free speech, even for those who try so hard to drive a wedge between Israel and its only real ally, the US. I refuse to consider them supporters of Israel, which needs the US as an ally for its very survival.
You were raised by anti-Semites? Wow! I’m not going to ask how that came about because I can see it is painful for you. I’m happy to hear you survived intact – it tells me you are tough and I respect that.
I don’t consider you to have written anything you need to apologize for.
Feel free to chastise me if it makes you feel better:-))
A.E. It IS condesending. I dont need YOU to so call toughen me up. Your the one who needs to lighten up and allow people to debate and express their opinions. I may be live in Canada but I would leave in a heartbeat as my CHOSEN country IS Israel. I was RAISED by antisemites so I think I am tough enough. HAVE to be to have SURVIVED that…and of coarse it is still ongoing. However I REFUSE to become HARD or CALLOUS and make NO apology for it.
Ted,
Calm down. Terms of endearment are not condescending. Bogus libellous attacks and inferiority and superiority complexes are far more dangerous. I don’t think Mer is as tough as she pretends to be:-)) She knows that the US is their real safety net, for everything from national security to health care to sub-tropical beaches they can buy before the Chinese get to them:-))
Mer,
I am doing my darndest to teach you Canucks to lighten up and thicken your paper-thin skins, but its not working based on you, Max and Narvey.
Who are you comparing Palin’s experience to? I hope not the unqualified, inexperienced, achievement-challenged neophyte that was elected with the help of 78% of the Jewish community.
Did you somehow miss all of Palin’s executive experience before she even became Governor of Alaska, when as Chairman of the Alaska Oil and Gas Conservation Commission she took on the most powerful oil barons and politicians in her state on corruption charges and defeated them?
Alaskans gave her an over 85% approval rating – the highest of an state Governor in the country – before she was nominated by John McCain and then became a target for every lefty character assassin from Obama on down?
Rather than be bogged down by their attacks at the expense of her state, she strategically withdrew from her constraints as Governor and then counter attacked them from all sides, and is driving them nuts ever since.
AE. Stop with the “honey” and “babe” shit. Its condescending.
A.E. Honey? Allah? You must have me confused with someone else. Ever heard the story of David and Goliath? Your egotistical condesending way will get the better of you some day. You may talk like a Goliath but look what happened to him? Palin may be good for the U.S. but you need a leader with more experience and less drama. Dont forget the world is watching and American politics is more like a soap box.
Mer, honey, what the heck are you talking about Allah’s way not being man’s way? I though we were talking about Palin’s way and America’s way and Canada’s no-way:-))
Forgive me, Allah! These Canucks are so thin skinned:-)) But I love them anyway like a younger sibling:-))
A.E. OH YE OF little FAITH. G-DS way is NOT mans way. Thank goodness for that.
Mer,
Really. The difference between India and America is that India has done bubkis for Israel, whereas American has shown its support in tangible terms with decades of suppport in terms of cash and kind and taking on common enemies and killing them. I wish India would join America, because India today has the financial resources and one of the more powerful armed forces in that part of the world, which could squeeze the jihadis in a powerful vice.
I know many Canadians have the best intentions but the Country really does not have either the resources, or political will or national cojones to do much in tangible terms.
A.E. Really? I thought India liked Israel more than the U.S. To be American is just an idealology.
AE. I have the same take on Palin.
I agree with Ted that Sarah Palin exemplifies the vast majority of American conservatives who have the right ideas on how to fix the US economy but also overwhelmingly support Israel as Daniel Pipes has shown.
Who the hell is Mandy, and what did he or she say? Was it more anti-American and offensive than what we see in virtually every one of Yamit’s posts? No one is more clueless about what is going on in America. Here is a classic example of Yamit’s wilfull blindness, even as everyone with more than half a brain saw how Kennedy, Reagan and Bush 43 sparked the US economy, whereas Carter and Obama depressed it
He doesn’t even know how Palin would address the issues if given a chance – and she is one of the most outspoken and visible political leaders in America.
Since Yamit seems to have deliberately missed what Palin would do to fix the US economy, the short answer is that she would first unravel what Obama has done the last two years, starting with repealing the destructive health care plan before it does any more damage, which would remove Canada’s safety net for serious tests and treatments for which they cannot afford to spend more resources on to expand their own facilities.
She would cut tax rates so as to grow the economy and thereby increase tax revenues. She would cut wasteful federal spending and cut the bloated government bureaucracy that is like a millstone around the necks of the small and medium sized businesses where over 80% of American jobs come from. She would enable oil exploration and drilling in and around the continental USA. She would physically secure the southern border and increase surveillance along the northern border, and provide work permits for aliens who can find jobs in the USA.
In Iraq and Afghanistan, she would stop the politically correct rules of engagement that are hampering the armed forces from eliminating the enemy, and she would provide the armed forces with whatever they need to ensure victory and not just maintain a status quo.
In the middle-east she would not pressure Israel to negotiate with an adversary until it accepts Israel as a Jewish state and renounces violence.
RandyTexas, Of course no one can do it alone. Palin is the leader of a conservative movement and happens to be a steadfast supporter of Israel. Wise up. Join the Tea Party and help her. Get out and vote on November 2.
Palin showed her support for Israel even before she was a force on the national stage, when pictures taken in her Governor’s office in Alaska soon after she was nominated by John McCain showed the Israeli flag draped on an office wall in the background. How many Israeli chest-thumpers fly the Israeli flag in the US, or even in Canada for that matter.
Mer, thanks for accusing Ted of becoming “tooo Americanized” because the more Americanized one is, the more one is supportive of Israel. That’s just a fact.
Don’t discount socialism; it’s a Ponzi scheme that fails every time. China is only more than happy to take advantage of the situation.
It will be East versus West, with Islam favoring and collaborating with the East. Europe is in no position to fight, they will resort to Chamberlainian diplomacy in an attempt to form a World Order acceptable to Russia and China. If the US resists, the Middle East is the most likely place for the battleground of a global power struggle.
The Chinese know what they are doing. They are buying us with our money and putting the US in a situation where they can one day pull the rug out and cause a total collapse of the US. Right now they are insulating themselves from the affects of what they plan to do. They already posses 97% of rare earth material production. They are also propping up the dollar while they are turning their dollars into hard assets. Once they are satisfied with what they have they will allow the dollar collapse.
There will be another global war. US governmental policies and private corporations dealings with China since Kissinger’s role in the Nixon Administration have turned China from a communist to fascist state. Shortly, China will make a move for global domination. The Russians will have to decide where they will stand. Russia’s pragmatism may lead them to do the same thing that Mussolini did when confronted with Hitler’s power. The Europeans will then find themselves in the same situation they were in 1940. They will likely try to negotiate their way out, or in,depending on how you look at it.
Get REAL. Ted. You are tooo Americanized which is not uncommon for a Canadian or even a so called former Canadian who grew up on watching American TV.
Thanks Ligneus.
Mandy is history on Israpundit
Mandy, I have been an Israpundit reader for a number of years and that is the most stupid and offensive comment I’ve seen here.
for some odd reason my last posting was submitted but not listed
No one person will or can save America. The only hope is in the people who still have moral clarity and understand. They are a minority but can make a difference.
What America is about to undergo will be felt around the world. It will be the biggest test America has ever faced. I believe there are still a great many Americans who will rise to the occasion. Palin, it appears, is one of them and has had more affect than any other, but, she would be insignificant without the many Americans who share her values. She speaks for traditional America, which empowers her in return.
Everyone is responsible either by commission or omission. There is no sense in tying to place blame only how to correct what will be The major crisis in Americas history. Therefore He or she who has the right answers and will tell the truth even if it goes down not well with the American People should be supported because the answers will be very painful to most Americans. That’s what a real leader must bring to the table. Then be able to get and maintain a consensus behind him or her.
Do you really see Palin fitting such a description? I don’t honestly know who would just who wouldn’t for now.
This may be true. But Sarah Palin is not among those Republicans who are responsible.
I agree with yamit’s first comment here. By borrowing large sums of money, the Obama administration has made things pleasant, if not highly profitable for a good number of people.
But if Palin, or anyone comes on the scene with really tough solutions for the truly dangerous economic crisis that continues to unfold, this will be unacceptable to the American
people just as raising the age of retirement by two years is unacceptable in France. I believe America will come apart at the seams as each group demands what they think is due them,
and there will be no more being able to borrow your way to even a temporary respite.
Obama is incurring massive debt like there wasn’t a problem. Palin is railing against it. Palin has a long history of fiscal responsibiliy beginning with balancing the budget whether in a town or a state. Obama has never had to balance a budget.
Palin is not suggesting that there won’t be pain. In fact she has began hinting at it. Sorry I don’t have the link. The Republicans under bush tried to tackle Social Security but couldn’t muster enough support for the effort.
The off balance sheet debt is not even being talked about now but it dwarfs the on balance sheet debt.
I should have added to my title “if it can be saved at all.
Everybody agrees there is a problem even the ONE knows there is a problem. Palin has to my ear has never defined the real problems but just states the Bon Ton cliches of the conservative right? There is no major economic social and military problem that both democrats and republicans do not share responsibility for today.
What I am saying is that the attempted remedy of almost 50yrs. of mismanagement of the American economy and will require draconian remedial legislative inputs and a very strong willed executive to carry them out.
A senior figure from the Chinese government says his nation does not plan to buy any more US treasuries – but that’s not the only seachange Beijing has planned.
China’s central bank governor and the USD
There are at the moment some unconfirmed reports that China’s central bank governor, Zhou Xiaochuan, has defected to the United States. Among the reasons given for his possible defection are large losses made by the central bank on investments in US Treasury Bonds. One can only speculate at this stage, but presumably the next central bank governor would be a lot more reluctant to invest in US assets! Which will make the financing of the US public debt much more challenging, as well as lead to a much weaker USD. A story worth watching!
The handwriting is on the wall. We are in the early stages of the sovereign debt crisis. The United States has benefited from a “flight to safety”. Our numbers are not much better than Greece when you include state and local debt. The unfunded liability for Social Security is around $13 Trillion, Drug Benefit for seniors $13 T, Medical promises w/o Obama Care $50 T. Add on our $13 T of bonds and bills and we would absorb all Federal revenues to pay 3% on the total. If we wait to find out what # triggers our crisis; it will be too late to solve the crisis.
It’s not socialism; it’s China:
Welfare states are OK as long as there is enough money to pay for them.
But America and europe have shipped all their factories to China.
A Chinese worker will do anything an American or european worker can do, better and for less pay.
Chinese workers, by themselves, can make everything everyone else in the world needs.
So the governments of America and europe have less income, and can no longer afford their welfare states, and soon will not have enough money to continue buying Chinese goods.
So both globalization and the generous welfare states have failed.
So it’s back to the future. We will have to return to self-contained trading blocs. Each bloc will manufacture its own goods, and keep their money within the bloc, and use tariffs to exclude the goods from competing blocs.
This is a drastic change. It won’t happen until there is another great depression.
(The idea that it is too late for europe, but America can be saved, is wishful thinking. The majority of children now born in California, Texas, and New Mexico are already all of Mexican origin. America is actually further down the road to becoming Mexamerica than europe is to becoming eurabia.)
You have stated what must be done. Palin agrees there is a problem. Obama does not. Yet you say it doesn’t matter who is President.
Palin has identified the problem and the direction. That’s what counts.
You have really lost it:
Pls explain Palins economic theories and how she would tackle Americas almost insoluble, and inevitable economic demise? I haven’t heard program or policy from her, other than simplistic slogans? The next president will need the good will of most Americans because the next president will need to institute very radical and very painful remedial reforms which will hurt almost every sector of America.
Palin? You got to be really kidding.
European economies like America has become are two giant ponzi schemes. Like all ponzi schemed they can continue until new money is not enough to finance, both old and new obligations. Then they collapse. European productivity lags far behind Americas and negative population growth translates to less income to pay for social entitlements. So the EU collapse is all but inevitable along with major social upheavals and probably a return to to old European nationalism/ fascism.
America dwarfs Europe in national indebtedness and when they find none will loan them money they will have to both cut back on entitlements, raise cost of money and print the shortfall. Even Obama will need to face this reality but has till now delayed major economic shifts due to political imperatives the elections in Nov.
My view contrary to most pundits here is that it matters little who occupies the WH they will no matter who be forced to take similar remedial actions.
European economies like America has become are two giant ponzi schemes. Like all ponzi schemed they can continue until new money is not enough to finance, both old and new obligations. Then they collapse. European productivity lags far behind Americas and negative population growth translates to less income to pay for social entitlements. So the EU collapse is all but inevitable along with major social upheavals and probably a return to to old European nationalism/ fascism.
America dwarfs Europe in national indebtedness and when they find none will loan them money they will have to both cut back on entitlements, raise cost of money and print the shortfall. Even Obama will need to face this reality but has till now delayed major economic shifts due to political imperatives the elections in Nov.
My view contrary to most pundits here is that it matters little who occupies the WH they will no matter who be forced to take similar remedial actions.
You have really lost it:
Pls explain Palins economic theories and how she would tackle Americas almost insoluble, and inevitable economic demise? I haven’t heard program or policy from her, other than simplistic slogans? The next president will need the good will of most Americans because the next president will need to institute very radical and very painful remedial reforms which will hurt almost every sector of America.
Palin? You got to be really kidding.