Comments on: Europe on a knife edge

By: gedguy2

gedguy2 — Tue, 03 Jan 2012 19:27:29 +0000

http://gedguy-roehampton.blogspot.com/2012/01/con-of-money.html

By: Sublime1

Sublime1 — Wed, 05 Oct 2011 13:28:40 +0000

Re the Chinese. There are a number of streets in Barcelona, on which in the past 10 years the majority of bars, cafes and restaurants have changed hands from Catalans to Chinese. It’s quite remarkable walking down some of these streets to see no Spanish owners or workers, but instead their new Chinese owners (still selling jamon serrano and bottles of Estrella of course).

By: eva@austria

eva@austria — Fri, 16 Sep 2011 21:25:10 +0000

Bank Austria was linked to the social democrats, and sold off by the conservatives when they came to power in order to deliver a blow to their rivals; Bavarians are also involved in the Hypo Alpe Adria Bank bail out from 2008 but that because corrupt Carinthian politicians made the bank their party expense account which would buy them voters. There is no ‘nationalistic pride’ among ordinary Austrians as they are not aware of the ownership structures of these banks but of the political agenda behind; the problem is the strong anti-EU (not European!) attitude with some political players and media; life has become harder since the Euro esp. for small businesses and individuals; that’s the reason why people don’t see the point of paying and this opinion is multiplied in media campaign and political discourse; there’s gonna be a general election in 2013 and if this crisis continues until then the political landscape here will be in for a nasty right-wing surprise.

By: Wirplit

Wirplit — Fri, 16 Sep 2011 19:21:42 +0000

Just heard ( friday night) that Italy may be facing a credit downgrade this weekend. Do you think that Italy is on the way down? They were yesterday pretending that it was getting sorted but it doesn’t seem so.
The Chinese element is interesting. They have been buying up businesses even bars and restaurants in Venice…for some years. I think they see Italy as a soft target… within the EEC.

Meanwhile Portugal discovers 1.5 billion euros of further debt it didnt know it had.

By: backwardsevolution

backwardsevolution — Thu, 15 Sep 2011 14:50:17 +0000

In reply to backwardsevolution.

Very interesting article on how Finance overtook Industry, began to own governments (through lobbying and bribes), and stripped Labour. Marx predicted all of this.

“Marx’s genius was to recognize the historical inevitability of these internal forces within advanced Capitalism. He also recognized the inevitability of finance-capital’s dominance of industrial capital–something we have witnessed in full flower over the past 30 years.

Finance capital now dominates not just industrial capital but the machinery of governance, rendering real reform impossible. Instead, the Status Quo delivers up simulacrum “reform” which change nothing but the packaging of the Central State/Cartel Capitalism’s exploitation and predation.

Add all this up and you have to conclude the final crisis of finance-based advanced Capitalism is finally at hand. All the “fixes” that extended its run over the past 70 years have run their course. Life will go on, of course, after the Status Quo devolves, and in my view, ridding the globe of financial predation
and parasitism will be a positive step forward.”

http://www.oftwominds.com/blogaug11/crisis-of-capitalism-8-11.html

By: backwardsevolution

backwardsevolution — Thu, 15 Sep 2011 14:35:58 +0000

In reply to Maria dos Santos.

Maria dos Santos – apparently the European banks are putting up their commercial mortgages as assets (with the U.S. cherry-picking the best, of course) in exchange for cash.

Apparently the Fed’s QE2 money (from November/10 to June/11) went almost exclusively to the European banks.

The Central Banks of the world are in collusion and are desperately trying to hold on to the power they have. The financial system rules the world right now, not countries, not people. These guys don’t care about sovereignty, workers’ jobs going to the lowest bidder. We are all expendable. A band of sociopaths!

By: Maria dos Santos

Maria dos Santos — Thu, 15 Sep 2011 09:15:47 +0000

Mr Barrosa has had talks with the Chinese,all very polite,I would assert that we in Europe have been sold out so that Europe MIGHT live another day.So expect crushing legislation to undermine business start ups,watch Italian technology being shipped to a “partner”in China and watch tariff walls disappear.This and musch more will have been given away and what little protection we had is now gone.Of course it will be of no use.
Meanwhile private “repo”deals are being thrashed out with the American banks,where is this money coming from.As failure occurs who will then “help”the American banks,oh I forgot,all those wonderfully rich American taxpayer can step in and save the banks AGAIN!For this alone the American people should impeach Turbo Tim and brilliant Ben!

By: backwardsevolution

backwardsevolution — Thu, 15 Sep 2011 02:32:41 +0000

In reply to Golem XIV.

From Marketwatch: “China sees Europe as ‘too important to fail’.”

http://www.marketwatch.com/story/china-sees-europe-as-too-important-to-fail-2011-09-13?Link=obinsite

Some of the comments were:

“Too big to fail continents now! Everything is too important to fail! Everything!

Nothing must be allowed to fail…EVER!

From now on, evolution is banned on Earth. No failures here!”

– and –

“Sure, just take a look at the political arena. It is survival of the unfittest.”

By: Golem XIV

Golem XIV — Wed, 14 Sep 2011 20:11:19 +0000

backwardsevolution,

thank you for teh compliment. As it happens I am reading about China this evening and if I don’t get too tired I will write something short before bed. If I peg out beofre it’s done it will be Friday. I am away most of tomorrow and overnight. Giving a talk in Manchester.

By: backwardsevolution

backwardsevolution — Wed, 14 Sep 2011 20:02:46 +0000

Golem – what about China? Will they bail out Italy and take her gold, ports, et cetera? Will the Italian people allow it?

Your blog is incredibly good!!!!!