So funny, you’ll cry.
You have not replied to my last 47 attempts to contact you regarding the 700 billion Euro loan we discussed. I have tried to contact you by phone, via Federal Express, various Ambassadors, a US destroyer with a party of EU diplomats concealed on the aft deck, and E-cards with pictures of big-eyed European Finance Ministers holding their hands out. I am very disappointed in you – I felt that we were developing such a beautiful relationship when you started buying Greek bonds. It is obvious that we have so much in common – you have money and we need money.
(h/t Adrian)
Related – borrowing of industrialised governments has surged beyond $10tr this year and is forecast to grow further in 2012.
Years from now some people will laugh at the West’s failed attempt to really pay their debt to China without their citzen’s notice, not through the sale of useless bond paper, but through a mechanism called the Great Global Warming Swindle.
Interesting times ahead.
At the link, a commenter observes that the cause of the current crisis was known years ago but the politicians failed to act. He quips:
“The worst part about kicking the can down the road is you eventually run out of road.”
For what good purpose are these mountains of fiat money being spent on?
Keeping Obama’s KoolAid drinkers in the Public Service and Teachers
Unions from joining the jobless lines doesn’t count.
Hello, inflation! It’s been so long. We missed you.
Inflation = taxation without legislation.
We do need climate change regulation/taxes-
– Why?
7 billion people paying about 2 dollars per week would pay off the 2011 world debt in about 233 years..
Don’t laugh!
At least its a start,
not a decline..
Politicans cannot admit failure in the global debt crisis and never will. Admitting failure condemns not only the politicans but also the structures within our socities that enabled them. Bureaucrats are the most self-serving of all. Citizens should certainly assume their share as well. Willful ignorance is the rule these days.
Admission of failure could led to radical changes and many vested interests do not want that.
I keep hearing how there is going to be an end to this green shit but in all reality they have bankrupt the west. Look at any country that turns to green. Even look at Ont. There is so many not working and yet the government keeps spending so much so they can say we will save the earth. But they are starving their own people. I’m glad I’m an old man and will be dead before I run out of money.And I can say f@@k the rest of you stupid people.
I’ve a better idea. The US should contact China through an online dating site, pretend to be everything China wants her to be (including some really hot photos) and then, once China is really interested, claim to be traveling in Europe when the nasty Europeans seized all her money, and now she needs a few billion dollars so she can go the rest of the way and see the love of her life, China, for the first time.
democracy fails because she is run by “professional” politicians who are completely out of touch with the real world
If I was China’s financial adviser,they’d be advised to no longer accept Bonds as collateral, but fee simple title to large swaths of the Countries that want to borrow from them. Take only “Crown” land as collateral. Real estate is always a good investment,and it’s certainly better than paper promises.
In the case of the U.S.,for example,the Chinese could hold say,North Dakota as collateral until the loan is repaid. China could take a portion of the income from any business ventures in that State,and if they should happen to strike oil,ship it to China at a rate greatly below world prices.
In Europe, China could hold the title to Greece and Italy,and act as any good banker to make a profit on their investment.
It’s a business,it’s time China started to act according to the bottom line with no other considerations,and if it’s necessary to displace some European citizens,why not just send them to live in Boy Scout Land,just North of the U.S.A.
Mark my words many of these crappy little countries will revert back to their totalitarian roots once this is all done. This time they won’t be royalty though. Anyway should be fun to watch but just to warn you despite what Germany says I’m not so sure it’d be a good idea to buy any bonds from uropeons.
Unfortunately the failure of the EU Superstate and the basket-case welfare states within will not result in anything friendly to liberty. They will instead likely fracture into fascist states preying on the residual middle class wealth contained within their once open borders. When that is gone, they will go after their neighbour’s. Once a society is addicted to looting, there’s no going back to working for a living. Welcome back to the care free days of the 1930s (Steyn”s words).
China need not fight a war to own the World. All they need to do is lend money to socially degenerate Corporatist’s. To think Europe once held China in a vise because of its degenerate government. Is now itself through its own putridity, in the ball squeezer of economic ruin. Decedent Empires go both ways in history.
The bureaucratic state of the EU has become subservient to other powers. It won’t be long now before China demands Taiwan.
Ok this made me laugh so hard. I just finished reading The Man Who Rode the Tiger by Charles Sailor on my kindle and did a random blog search on China and found you.
I shall return.
-R