Tuesday, February 17, 2009

Germany, France, May Face Bailout of Nations, Not Just Banks
“I would be very reluctant to say: ‘O.K., let Ireland or Greece default, the market will sort it out, punish them for their irresponsibility of the past,’” said Thomas Mayer, co-head of global economics at Deutsche Bank AG in London. “They tried it with Lehman and realized that was not a good idea.”

When push comes to shove, Maastricht Treaty be damned. -- JO

8 comments:

agape wins said...

02,17,09

My brother sent me this clip, does anyone here have something short & sweet, something cute which counters this junk?

http://www.youtube.com/watch?v=pa6ZfzLSeao&feature=channel_page

My family is in denial as are many others, I fear for them, as we all do!

Amae.

Sebastian Ronin said...

The degree of foreign investment in Canada, i.e. U.S. ownership, cultural imperialism, the NAFTA predecessor towards North American Union, the historical and ongoing betrayal by Canadian capital, etc. are all givens. For those in the loop, the latter hover in around the political perception and analytical depth of Poli-Sci 101.

Now comes news that the sitting Conservative Government is planning a very serious sell-off of state assets, i.e. Crown corporations: Major Canadian government assets could be sold. On the chopping block are Canada Post, Via Rail, the Royal Canadian Mint, the agency that oversees security at Canada's airports (very serious and very bad!), Atomic Energy of Canada Ltd. (yikes!), the CBC (the propaganda mother corp.) and the Canada Council for the Arts (state-subsidized artistes going boo hoo hoo).

http://www.canada.com/Homes/Major+Canadian+government+assets+could+sold/1299281/story.html

I simply point blog visitors towards Zeitgeist Addendum. It's as good an introduction as any to the workings of global capital.

Norm Lowry said...

The SILENCE of our larger society is a Lie that shames us all, as we allow our leaders to continue the rape, pillage, terrorism & murder of our world. There is much hope to be had, though not in our SILENCE!

RanD said...

All this highly dramatic current global-wide progressively caving economies thing announces the impendent conclusion of a systemically integrated humankind-wide/Universal Process. Everything about what's taking place on planet Earth right now has long been in the making, been sufficiently presaged, and has been continuously and progressively and is now blatantly self-evincing itself for being what it is. Thus, any and all human suffering that produces from the on-going outplay of current realities either is or soon will be a consequence strictly of having failed to adequately inform oneself about and correspondingly prepared oneself for.

If nothing else, one does well to fully secure to oneself the fact that all of this terminates in a condition of Universal Common Good.

Love to us all; sincerely, RanD

Ž said...

Just some early interesting links:

"The civilisation that turns upon it's own children, is bound to collapse..."

http://www.truthdig.com/report/item/20090217_kids_for_cash/


"Afghanistan - burial site of American Empire?"

http://www.alternet.org/waroniraq/127399/obama%2C_please_be_smart_about_afghanistan_/


"Collapse of European Industry Worse than Expected"

http://www.spiegel.de/international/europe/0,1518,607194,00.html


Trouble on the horison for France:

http://news.bbc.co.uk/2/hi/europe/7896598.stm


And from my backyard:
"Slovenia-Croatia border row heats up" - possible rise of nationalistic tendencies on both sides...

http://news.bbc.co.uk/2/hi/europe/7896040.stm

A peon said...

agape,I'm confused.What you've linked to is a guy cautioning others to prepare for economic collapse.Perhaps you could specify what it is you disagree with in what the person in the video is saying.

Chris

cj said...

In response to Norm Lowry's post:

It really bothers me that just about everyone goes along pretending everything is just fine. Practically no discussions about what is evolving (at least in my life) unless I bring it up. We had a revolution over a tax on tea and went to war over atrocities committed by the Nazis. I think what we have now is unprecedented in its magnitude and so huge that just about everyone has to acknowledge we are on the brink of historical changes, BUT . . . no one seems to be doing anything about it. No one seems to be trying to change anything, organize, protest, etc. Even on this blog - lots of discussion, but where is the ACTION? I guess we are all out for ourselves. There must be ways to mitigate at least some of what is occurring. So we all just obediently roll over and die at the proper moment?? Already the new administration is playing blind to the huge crimes of the financial sector and the former administration. If this were France, we'd be tearing up the pavement and storming our government buildings. Why aren't we at least pushing for:

Holding the folks who got us into this accountable?

Bringing back the Constitution?

Creating a just taxation system so that the top 5% pays their fair share?

Lowering the national speed limit to 55 mph to conserve what little fuel we have left?

Expanding mass transit systems (which would not only create jobs, it would help people let go of their beloved cars. We aren't going to give them up if there isn't any other way to get from point A to point B)?

Encouraging everyone to learning to grow their own food and have provisions set aside.

Taking up practical occupations to fill the needs we will all have once there is no more gas and oil. Who will bake the bread, grow the food, raise the chickens, and so forth?

If you were driving along in your car and saw a cliff ahead, you would do something to change course before you went over the edge. We just keep on living the same old wasteful lives as if pretending long enough that everything is okay will make it so.

I guess we really are a nation of sheep. Like Orlov says, the crash will be much worse here in America because we lack relatedness to others and have spent our entire lives waiting for our problems to be dealt with by others. We're in for a catastrophe. At least the poorest of the poor in the third world have figured out how to survive by meeting their own needs via cooperating with others. I just wonder how well 99.9% of the population here in America is going to fare. We did nothing while millions in Darfur and other third world nations suffered and died. I guess if we end up in chaos we will have it coming to us.

agape wins said...

Oops!!
Late at night, I was trying to find a response to THIS link, I included the wrong link, Midnight oil + weak
mind.

http://www.youtube.com/watch?v=cL9Wu2kWwSY