21 Replies to “The European Bailout Explained”

  2. I literally LOL at these.
    The wheat board one was the best.
    No wait, the one about puppies.
    Yeah they are all good. The deadpan timing of the “….. what?” is priceless.
    Disclosure: I only post when I have had a couple so it”s funnier to me.

  3. If the banks take a haircut because of Greek lending (which is a reasonable result), they should do the same thing they do with regards to other insolvents, namely don’t lend Greece any more money.
    The crisis is one of coercion, i.e., due to the absence of freedom. Governments are currently allowed to steal money through taxation then waste it irresponsibly. And the left pretends that “democratic accountability” through voting once every four or five years is better accountability than each individual voting with his wallet every minute of every day.

  5. There must be plenty of profit to be made by lending to
    corrupt, incompetent regimes that can’t repay.
    Wonder how they determine who gets stuck with the tab?

  7. Like I wrote several times about the world financial nightmare, it seems to me to be so out of control that as long as they keep printing money and create these convoluted financial credit swaps and IOU’s and make it so the private sector is no longer in control of interest rates/inflation but now controlled by world Governments (Federal Reserve/IMF) the show will go on for now.
    In a normal world, because of extreme debt, cash flow should be really tight thus interest rates should be much higher at this time…Why aren’t they?…Why can’t people who have cash right now profit from higher interest rates like it was always the case in the past?
    Yes, the world is now tied at the hip but true private economic exchange seems to be a thing of the past.
    THE WORLD IS IN UNCHARTERED TERRITORY. WE SEEM TO HAVE ENTERED SOME SORT OF SOFT TYRANNY.

  10. History repeats itself and all European citizens will shortly be serfs to an unelected government.

  11. The “bailout” concept is ridiculous, and nv53 nails it.
    Why should any lender allow loans to Greece (or any other PIIGS state), if they will only see 50 cents on the dollar? For all we know, Greece is STILL borrowing money from some institution, somewhere, accepting that fact.
    Insanity.
    Yet, the markets view it as a good thing, Euro bank stocks are up, because instead of a default, they will some return on “investment”, only a 50% loss…..and that’s ‘good news’ in today’s economy.
    Well, if that’s the new economy, count me out of investing in Euro banks, and, after a little investigating, NA banks that are part owners in same banks. I fear that our (Canajun and US) banks are heavily invested in the Eurotrash, once again, keeping the house of cards together. One big happy family, they are…………

  12. And the critics many years ago claimed “social credit” monetary theories would result in “funny money”.
    Nothing funny about currency that cancels less and less debt every year or buys less and less every year!

  13. The line “We are screwed” says it all.
    All the condoms in the world won’t protect us from the stupidity and failure of the present crop of leaders of the Western world who are facilitating this rape of wealth from the citizenry.
    They won’t deal with the growing violence any better than they are dealing with the economies.
    All I can think of is how the people dealt with the Nicolae Ceaușescu and family on a Christmas day not so very long ago … for screwing them for so long.
    It starts with street protests and then a bit of violence …. I hate the Occupukes, but I share their loathing for our corrupt and flaccid leaders.
    A big, big change is coming and like a snowball rolling down a hill it’s growing and getting faster.

  15. What would really help is for Europe and NA to swing our doors open wider to the Third World and offer even more welfare and entitled benefits to settle into their new homes. That will solve the financial problems for sure, we’ve been told for the last 30 years it was beneficial, so let’s double and triple the bounty and enjoy it even further/ sarc off.

  17. A trillion euros.
    Except, of course, there is no money.
    Gotta love it!
    (I’m always amused by the sort of people who seem to think that governments are somehow sitting on bags and bags of spare money.)

  18. Ah, so this is how the world ends … not with a bang but with a bunch of wimps. I guess Thomas Stearns Eliot was right.
    He also said, “Humankind cannot bear very much reality.”
    He got that one right, too.
    We’re screwed.

  19. Economic signs of the times – for the first time ever, the popular “Millionaire Lottery” in BC, sponsored by the VGH, UBC Hospital and GF Strong Rehab Centre, is offering 3 Grand Prize options: one of the 2 dream homes, $2.4 million in cash or $2.4 Million in Gold Bars.
    You just know the world economy is bad when lotteries are offering to pay out in gold bars.

  21. Oh yeah, when you’re downsizing give your stuff away. That kind of generosity and looking out for those who are less fortunate than you is what’s going to cure our world: not bailouts of banks and mega-companies nor credit enhancements.

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