Infographic of the Day: The Debt Superhighway
 

Enjoy!

http://thevictoryreport.org/wp-conte.../euro_1001.jpg

The European Union as we know it today will bust up. The charts above are unbelieveable and these kinds of irresponsibility cannot be sustained. It's just a matter of time until it breaks apart. It won't be a bad thing, except for the countries that will be excluded.

The PIIGS will go first, then...The PIIGS were broke (I mean broke) countries for generations before they were allowed into the EU. Their contributions to the EU have been marginal to negative since they were admitted.

I can understand the interest of the PIIGS countries to be apart of the EU. They have done more for their people financially by expanding debts (they never intend to repay). Those countries were in abject poverty prior to EU, and I'm sure their thinking is very different. So what if you go in debt and can never repay, at least you eat good and can live a better life for awhile. They'll never repay the debt. They'll make austerity measures and pander to the EU to continue to create more debt.

The greedy bankers think they will take the land and property of those countries to repay the debt... LOL Those are soverign nations, they'll just nationalize any bankers interersts. The sooner the EU kicks those countries out, the better for the EU.

The US doesn't have this option, because states that haven't made adequate contributions are grandfathered in since the formation of the US.

Nothing new, however, those numbers are not that much higher then ten years ago. Just the attitude towards it changed. Italy in 1999 had a much higher debt then today, for example. Nobody was bothered about it. And that is why this whole finacial hokus pokus is such a pervert affair, it's pure psychology, defined by speculators and rating agencies. Has nothing to do anymore with any kind of laid out rules or fixed margins. A simple rumor can decide about the solvency of entire countries now.

That said, I personally, and to be clear, I speak here for myself only, as a german I rather pay and try to make the EU work then drop back to the times of european national states with all that implies.

yeah, but when unemployment is taken into account the EU is heading towards something really scary...


http://www.businessinsider.com/today...t%202012-02-02

how broken does something have to be, before people realise its broken......

Its hard to fix things that were broken from the start ;)

It's all the UK's fault for not signing up to the Euro and pledging to bail out other countries who don't have a clue (sarcasm alert).

*deep breath*

Actually, despite Sarkhozy (the man's a fool) I have a great deal of sympathy for our French and German friends. They have had to pump so much money into the EU and the Euro only to get shafted by the PIIGS.

What I find amazing is we're talking so much money - I really have to wonder where it all goes. I wonder if anyone has done an EU predicition of what would happen if the EU states simply gave no more money into the central pot.

The best thing I heard is that aid for Greece should be given to holidaymakers to spend in Greece. Then we'd get something for our money, the Greek peoples would get something and if they still didn't pay taxes, well we could go over and help ourselves to some more marbles.

:grin:

Which is why I'm moving to Mars, after they send the global-warming bomb there... And I've won the lottery, to pay for my ticket to ride... :). Right, raaaid?

You wish, it's not going to be that easy

It goes back to the same place it is all created from... thin air




here is an interesting, even if rather long, read =>

http://savecapitalism.files.wordpres...vilization.pdf