America and China must crush Germany into submission
Barack Obama greets Hu Jintao, the Chinese President (Photo: AP
Economics Last updated: November 9th, 2011
As we watch Italy's 10-year bond yields near 7.5pc and threaten to detonate the explosive charge on €1.9 trillion of debt, it is time for the world to reimpose order.
You cannot allow the biggest bankruptcy in history to run its course – with calamitous domino implications – before all options have been exhausted.
One can only guess what is happening in the great global centres of power, but it would not surprise me if US President Barack Obama and China's Hu Jintao start to intervene very soon, in unison and with massive diplomatic force.
One can imagine joint telephone calls to Chancellor Angela Merkel more or less ordering her country to face up to the implications of the monetary union that Germany itself created and ran (badly).
Yes, this means mobilizing the full-firepower of the ECB – with a pledge to change EU Treaty law and the bank's mandate – and perhaps some form of quantum leap towards a fiscal and debt union.
Germany will of course try to say no. But it will pay a catastrophic diplomatic and political price, and will fail to save its economy anyway if it does so.
As for the EU authorities with their mad contractionary fiscal and monetary policies in an accelerating slump, they seem to have achieved little by toppling two elected governments in one week.
The EU Project has become both dangerous and insane.
America and China must crush Germany into submission
Barack Obama greets Hu Jintao, the Chinese President (Photo: AP
Economics Last updated: November 9th, 2011
As we watch Italy's 10-year bond yields near 7.5pc and threaten to detonate the explosive charge on €1.9 trillion of debt, it is time for the world to reimpose order.
You cannot allow the biggest bankruptcy in history to run its course – with calamitous domino implications – before all options have been exhausted.
One can only guess what is happening in the great global centres of power, but it would not surprise me if US President Barack Obama and China's Hu Jintao start to intervene very soon, in unison and with massive diplomatic force.
One can imagine joint telephone calls to Chancellor Angela Merkel more or less ordering her country to face up to the implications of the monetary union that Germany itself created and ran (badly).
Yes, this means mobilizing the full-firepower of the ECB – with a pledge to change EU Treaty law and the bank's mandate – and perhaps some form of quantum leap towards a fiscal and debt union.
Germany will of course try to say no. But it will pay a catastrophic diplomatic and political price, and will fail to save its economy anyway if it does so.
As for the EU authorities with their mad contractionary fiscal and monetary policies in an accelerating slump, they seem to have achieved little by toppling two elected governments in one week.
The EU Project has become both dangerous and insane.
The question is not "should" it is "how". Protectionist measures have been in place for too long. The global standard for work must be inplace for all nations and 35 hours a week is unacceptable. When the state mandates how many hours a person can work the society becomes a burden for the rest of the planet. When a state has too many "DE NORMS" over regulation halts creativty. A poisinous pedagogical mindset has no place in the planets future and will hinder global societal development. Hiding behind the false veil of the EU is no cover.
With China in full development of there space program, I give it 15 - 20 years before they have permanent colony.
