June 14, 2012

Spain: Beginning Of The End

Posted by Kate at June 14, 2012 12:10 AM

Capt. Capitalism, does this have anything to do with the OANDA fx Exchange being closed for trading this weekend?

people going broke slowly, then all of the sudden. ...

Posted by: marc in calgary at June 14, 2012 12:34 AM

Perfect analogy. Too bad socialists have been bleeding the public for so long, they've lost sight of the cure. Next up? The good old USA if they don't dump Obama in November.

Posted by: canuck66 at June 14, 2012 12:34 AM

Daniel Hannan and other critics of the European experiment will be vindicated by history.

Posted by: EBD at June 14, 2012 12:45 AM

That one person clapping was me.

Posted by: northbaytrapper at June 14, 2012 1:03 AM

> Next up? The good old USA if they don't dump Obama in November.

They may not be next. Japan may stumble before they do.

Whatever the long term implications, the Americans are masters of the short term. I'd be surprised if they weren't the last to tumble.

But tumble they will. The whole problem of the debt crisis, is that the debt must be repaid, defaulted on, or hyperinflated to the point of insignificance.

My question is, how do the Americans repay all that debt -- or even pay it down to the point of manageability? I don't see how they do, whether it's Obama, Romney, or even that sneaky delegate thief Ron Paul. Once interest rates start upwards again, the U.S. won't have the capacity to sustain their interest payments.

Recall that old Chinese curse: "May you live in interesting times." It's going to get mighty interesting from here on in.

Posted by: antelope at June 14, 2012 1:06 AM

The problem in not the Euro. The problem is the fact that the european economies just keep squandering other people's money. Now that the flushes of other peoples' money have slowed to a small drip, the Euro nations want more of other peoples' money to squander.

Its a merry go round - in hell.


Posted by: Gary Marshall at June 14, 2012 1:23 AM


I promise not to engage in any more lengthy philosophical discussions on your dime, well as long as the other guys don't push it.


Posted by: Gary Marshall at June 14, 2012 1:27 AM

I posted this a little while ago but this all comes under Agenda 21 which Greece,Spain and many European countries were following faithfully. Spain spent a fortune that they didn't have going green. Agenda 21 is trying to get a foothold in the western countries. Pray that someone has the brains to shut these asses down.

If only McGuinty could read and understand, he would also see where Ontario is heading. Pity that all his attention is devoted to bullying and pleasing the gay lobby.

Posted by: peterj at June 14, 2012 1:27 AM

The problem is the dipstick idiots like the MEP sitting behind Hannen. While he's making perfect sense, she's desultorily and contemptuously ignoring Daniel Hannen's apt and articulate diagnosis of the problem.

Misdiagnosis of the disease results in the patient growing increasingly ill and, eventually, dying. That seems the ultimate outcome of the EU experiment; it's on life support and the power's about to crash. Hannen can see this, whereas Ms. Pink Suit with an i-Phone is texting while the EU burns.

Posted by: batb at June 14, 2012 7:14 AM

Socialism is dying an ugly death in Europe. Yet its useful idiots like Mulcair are howling for us to send them our tax dollars and carbon taxes on oil and gas. Meanwhile in Greece there is a daily bank run underway, 100-300M is being withdrawn from Greek banks and stuffed in mattresses while in Italy one Bank has declared a month long Bank Holiday, so you can't access your own money. Stuff a Cuban cigar in Mulcairs mouth and you would have a picture of Rin Tin Tin taking a sh*t, with same effect, sh*t and flatulence.

Posted by: RFB at June 14, 2012 7:44 AM

"The problem with socialism is that eventually you run out of other people's money." Margaret Thatcher

Enough said.

Posted by: J at June 14, 2012 7:54 AM

I believe Mrs. Thatcher was paraphrasing Frèdèric Bastiat: "Government is the great fiction through which everybody endeavors to live at the expense of everybody else." Note that this was written 164 years ago...

Posted by: Taliesyn at June 14, 2012 8:15 AM

Hear! Hear! @Canuck66! We Americans are going down in flames soon and it is mind boggling to see that most of us are oblivious or have the mindset "We are America, this will never happen here" to our shame we are going down sooner than people think. Won't matter whether Obama or Romney we are doomed. I am a realist and not a pessimist, the handwriting is on the wall and only a marked few people's knees are shaking.

Posted by: JamaicaJoe at June 14, 2012 8:27 AM

Germany is now asking (demanding?) that Canada participate in the bailout. That would be more in line with a real transfusion. Or would it? What is our exposure to euro debt either directly or indirectly? How much of it are our banks and pension plans etc. holding?

Posted by: Gord Tulk at June 14, 2012 9:03 AM

I still think we should start a pool, just like a hockey pool on the date the Euro-trash finally break up. If I won, I'd use my winnings to buy Toronto's Adam Vaughan a membership in Target Sports shooting range.

Posted by: robins111 at June 14, 2012 9:31 AM

Am I the only one who finds the European Parliament facility a bit ghostly and spartan. The empty ugly gray seats, the horrible blue colour. It seems to have no soul at all.

The design is hideous, without character.

Posted by: TJ at June 14, 2012 10:14 AM

"Transfusing from one arm to the other arm with a leaking tube." That was brilliant.

Posted by: Ken (Kulak) at June 14, 2012 10:21 AM

FYI the EU Parliament has 754 members. It is a dream come true for bureaucrats and socialists. Bureaucracy on steroids. Hannan is a lone voice in the wilderness.

Posted by: TJ at June 14, 2012 10:26 AM

I am not sure anymore if I am sane or mad.

Sane because I can see that Europe is toast, wind farms do not work ditto solar, man made global warming is a strangulation of data to fit your out come, the public school system is a propaganda mill ect.

Or mad for the same reason.

Regardless Europe as we know it is toast and that biddy behind Mr. Hanna is part of the reason.

Posted by: Ford Prefect at June 14, 2012 10:36 AM

Can we kidnap that guy & bring him here?

Posted by: john g at June 14, 2012 10:52 AM

peterj - the way to stop them is to stop sending money to the UN.

I have travelled extensively and lived in 3rd world countries. Generally speaking they are not places where you can count on people in positions of power and authority subscribing to the rule of law or having any business and economimcs understanding (except statism) or any understanding of politics (except statism). Yet as incapable as they are by our standards and expectations (those that contributed to the wealth of nations), they constitute a disproportionate number or representatives at the UN.

Defund them all!

Posted by: rroe at June 14, 2012 10:59 AM

Gary Marshall at June 14, 2012 1:23 AM

The problem is that voters put up with it.

Posted by: Jamie MacMaster at June 14, 2012 11:18 AM

The message is great. The lonely echo of one person clapping is very, very scary.

Posted by: first timer at June 14, 2012 12:14 PM

TJ writes, "Hannan is a lone voice in the wilderness". No he's not: check out Nigel Farrage!

"My heroes!"

Posted by: lookout at June 14, 2012 1:54 PM

Mr.Harper! Not one Canadian dollar goes to those euro-weenies,let them central plan their way out of the mess they have created for themselves.They have been great at telling the rest of the world how to live for the past 50 years,too bad their theories didn t stand up in the real world the way they did in their utopian wet dreams.

Posted by: Frankemm at June 14, 2012 2:42 PM

Frankemm: but what if Canada's banks are in the glue - holding a significant amount of Shakey euro debt ? I'm not saying that they are or that CDa should put in some money. But I do find it curious that Germany would publically demand that Canada write a cheque.

Posted by: Gord Tulk at June 14, 2012 3:06 PM

Germany is single handedly trying to stop Europe from falling apart and have invested hundreds of billions at this point (ironic eh?) Canada is one of the only non-communist countries in the world that is still in economic shape to lend them money. It's a bottomless pit and Harper wont but you can't blame them for trying. It will affect us when they crash and it will crash. It will affect China in a big way as 40% of their exports go to Europe and affect the USA as their toxic bank assets permeate the whole European banking system and those assets shown on their books are in reality worthless. As the USA and Europe go over the cliff China will go down with them in a big way as all the outsourced American companies will be shutting down for lack of customers. It will come fast, it will be ugly and it's better then 50/50 that it will be followed by war. Except for Germany, Europe sealed its own demise with the OWS attitude of wanting it all, wanting it now and wanting it for free. Agenda 21 and the trillions spent to go green only hastened the inevitable demise. We will all pay for politicians that promised everything to everyone in order to be elected and the activists they listened to in this suicide pact. Was a great ride while it lasted but the party is over. Stock up on ammo.

Posted by: peterj at June 14, 2012 4:33 PM

That was then. It's worse now. Called the "endless highway."

Posted by: peterj at June 14, 2012 4:51 PM

Let's just start again!

Soon someone will come on the scene with this idea and lead us into world peace.

Can't wait.

Posted by: johnbrooks at June 14, 2012 7:59 PM

The only reason Canada has anything is because of all the natural resources we sit on. Canada is dying too, every year more factories close and relocate to third world countries, we produce nothing.Look at Ontario's budget 15 billion extra in the hole and why, the economic engine of Canada died. Its true you cant spend your way to prosperity but you cant cut your way there too.
The problem is much deeper we are run by criminals that steel from us.They want to keep us in debit and under control.Who would borrow from a bank if we all had money and a job that pays.
Who made the rule that banks can print as much money as they want from thin air.

Posted by: peter at June 15, 2012 7:43 AM

I realize this is an old post, but anyway: Canadians are already indebted so why would we borrow more to lend to other debtors? Also, re our resources: how are we in any way able or prepared (or sadly, willing) to defend against marauders? We needn't be sanctimonious - we are only less guilty of living the same as the Greeks by a few degrees.
My kids disdain my politics, so sometimes I just feel like squandering their inheritance and leave them to their own mess. Then my conscience kicks in and thanks to SDA and Daniel Hannan, I keep on keeping on.

Posted by: momathome at June 18, 2012 2:51 PM