Money means something

“The Euro Zone is rickety.” This from financial people watching what is going on in Europe recently. “We will defend the Euro whatever it takes.”

The risk is being spread around. If the guarantee from governments does not prop up the Euro, the Euro is doomed to failing. It is all based on a promise. There is a currency swap in place which allows investors to leave the Euro now more easily. This is something you do when you are worried about people writing off their losses.

“The UK is not Grease.” Things heard on financial radiio shows. “We don't have the leadership now that we had.” mentioned moments after the previous statement.

The debate is really about who runs Europe. There is no European government. It is all treaties and agreements led by officials from member nations, but not any one who is elected by the whole of Europe. There is no Fed or central bank. There is no one who can drop a fist on a table and pint to who is responsible and who must do what needs to be done. The EU lacks leadership with teeth.

Not one country in the EU is keeping their deficit increase under 3% of GDP. Not one. This is a mandate for being a member of the EU. This is a rule that no one follows. This is a rule that is very important for stability. This is proof that the nanny state, better known as socialism, does not work. It is human nature that if you can get something for free, you will not work hard for it.

It was not that long ago when I heard someone say that Greece may go bankrupt. Well, Greece was bailed out before they pulled the trigger on bankruptcy. Now some in Briton worry that the pound will become volatile Some will make money off this unbalance, but most normal people will suffer. The fact is that Briton cannot spend 1.30 pounds for every 1.00 pounds they bring in. That is all There is no more to say on the matter. The rest of that conversation needs to bring those two numbers closer together.

Same bottom line goes for the U. S. whether or not the current administration likes it.