Gloom & Anger Spreads as European Economies Teeter
- Posted on November 24, 2010 at 11:43pm by
Scott Baker
- Print »
- Email »
DUBLIN (AP) — Anger and fear about Europe’s seemingly unstoppable debt crisis coursed through the continent Wednesday. Striking workers shut down much of Portugal, Ireland proposed its deepest budget cuts in history and seething Italian and British students clashed with police over education cuts.
Amid it all, analysts were deeply skeptical about the future — saying even the desperate efforts of governments, the European Union and the International Monetary might not be enough to prevent countries from defaulting or banks from going under.
The Irish Stock Exchange saw a bloodbath in bank stocks as investors pushed the panic button and the bond markets decided it would only be a matter of time before Portugal and possibly Spain would be the next countries begging for outside help.
In Lisbon, strikers all but closed the airport, stranding passengers who couldn’t get in or out of the country.
Commuter Luis Moreira, catching one of the last trains out of Lisbon, said Europe’s woes only seem to be getting worse by the day. He supported the growing outrage over salary and pension cuts and wondered why billions were being thrown instead at governments and banks.
“People have to fight for their rights,” Moreira, 51, told The Associated Press. “People have to fight against what is happening.”
Government policies have “sent people into poverty and misery,” said union leader Manuel Carvalho da Silva, noting that Portuguese civil servants will see wage cuts averaging 5 percent next year.
Italian students occupied university buildings and piazzas to denounce education reform being debated by Parliament, clashing briefly with police in Rome and blocking five main bridges over the River Arno in Pisa.
In Britain, students decried government plans to triple tuition fees.
“Education is not a rich kid’s game,” said Tash Holway, a 19-year-old student in London. “If this keeps up, the entire industry will change. It won’t be about talent, but only about who can pay.”
While Irish bank shares plummeted for a third straight day amid fears investors would be wiped out, Portuguese and Spanish borrowing costs shot up sharply because of rising concerns that the governments’ debt loads will prove unsustainable and put them next in line for European bailouts.
Irish Prime Minister Brian Cowen announced Wednesday he now expects the EU-IMF bailout loan to total euro85 billion ($115 billion). Some experts accused Ireland of minimizing the true scale of its financial disaster, saying Ireland probably needs a bailout of euro130 billion ($175 billion) because of looming residential mortgage defaults.
“The government is completely in denial about the amount of money they’ll have to borrow,” said Constantin Gurdgiev, a finance lecturer at Trinity College Dublin.
He compared Ireland’s plight to that of Greece, which received a euro110 billion ($145 billion) EU-IMF rescue bailout in May.
“Our economy is more than three times over-indebted than Greece. If Greece is insolvent, where does that put us?” Gurdgiev asked.
Eurasia Group, a New York-based research and consulting company, warned that the problems of the 16-nation eurozone won’t stop with Ireland. It predicted a rescue plan for Portugal could be unveiled early next year, when Portugal needs to sell government bonds to finance spending.
“There is a strong presumption that a package will be necessary for Portugal and the related planning is under way,” Eurasia Group said. “Portugal will be pressed hard to accept a package even if the Portuguese government claims the country does not need it.”
Analysts have estimated Portugal will need at least euro50 billion ($67 billion), but a bailout for Spain could be exponentially costlier. Outside help for Spain — the eurozone’s fourth largest economy — could even mean the end of the eurozone itself, with either Spain forced out or Germany jumping ship back to its own Deutschmark currency.
“Spain is the ultimate crisis — the one that would really matter,” Eurasia Group said.
Sticking to a playbook used by every indebted nation so far, Spanish Finance Minister Elena Salgado insisted Wednesday that her nation doesn‘t need a bailout and that strict rules for the country’s banks coupled with austerity measures cutting budgets, salaries and pensions will protect Spain’s financial system.
But even other politicians were skeptical and expressed nervousness about just how bad the economic turmoil in Europe could get.
“(Europe’s) crisis is not over, it continuing to evolve. Europe is threatened by stagnation and the crisis of over-indebtedness is not yet finished,” French Premier Francois Fillon warned.
German Chancellor Angela Merkel and French President Nicolas Sarkozy — the two biggest heavyweights in the eurozone — will discuss “current problems in the eurozone” on Thursday.
Tempers even flared at the European Parliament in Strasbourg, France, where British legislator Godfrey Bloom was expelled from a debate on Ireland’s financial meltdown after he called a German legislator an “undemocratic fascist.”
Critics claim Merkel’s harsh stance on austerity measures has spooked the markets and is one of the reasons other European nations are in dire need of such massive bailouts — criticism that she dismisses.
Still, some countries have been in denial about the extent of their borrowing.
Portugal has borrowed huge amounts to finance welfare benefits and private consumption, at the same time protecting jobs through labor laws some call outdated that make it difficult to hire and fire workers.
Portugal’s austerity package, due to be introduced Jan. 1, cuts state salaries, trims welfare benefits and hikes income tax and sales tax — but the measures are forecast to stifle already weak economic growth.
In London, the university students and even younger pupils in school uniforms marched from Trafalgar Square toward Parliament chanting, “No ifs! No buts! No education cuts!”
Hundreds of police officers kept watch as some students climbed on top of bus shelters. Several attacked a parked police van, smashing its windows and scrawling graffiti.
The unrest could easily continue, because analysts said they see no immediate end in sight for Europe’s financial upheaval.
“Portugal has yet to show that the measures taken to curb the deficit are indeed bringing public finances on a sustainable path, while Spain has yet to implement significant restructuring of its banking sector,” said Marie Diron, chief economic eurozone adviser for Ernst & Young.
“In this context, there is a danger that the Irish crisis cascades into (other) crises,” she said.
Rising doubts about eurozone countries’ ability to repay debts have driven the interest rates on their bonds to euro-era highs in recent weeks, driving up each nation’s borrowing costs.
Bond rates rose all across the eurozone again Wednesday. The interest rates of Spain’s 10-year bonds topped 5 percent for the first time. Equivalent Irish bonds rose sharply to 8.9 percent, just short of a record high reached Nov. 11, the day before rumors of its bailout began. Portuguese bonds topped 7 percent for the first time since Nov. 11, too.
Even Germany’s T-bills — a benchmark of global lending safety whose yields normally fall when the others rise — rose to above 2.7 percent, reflecting investors‘ concerns that Germany’s own finances could be taxed by the weight of bailing out its neighbors.
The rate on 10-year Greek debt, the highest in the world, edged close to 12 percent for the first time since May, right before its bailout.
___
Clendenning reported from Madrid. Associated Press writers from across Europe contributed.
Popular Stories
Does Misstated Marathon Claim Prove Paul Ryan Is Dishonest? (POLL) 692 Comments
Paper Details Obama Admin’s Alleged Secret Note Sent to Iran: If Israel Attacks, We Won’t Get Involved 491 Comments
Obama: RNC Like Watching ‘Black-and-White TV’ Because Romney ‘Did Not Offer a Single New Idea’ 375 Comments
Roseanne Barr: Most Billionaires ‘Violent Pedophiles’ & ‘Heartless’ Cocaine Addicts 343 Comments
‘Made Up Religion’: TV Historian Enrages Muslims, Receives Threats After Producing UK Documentary Questioning Islam’s Beginnings 328 Comments
Faith
This Is the Creationists‘ Response to Scientist Bill Nye’s Viral Pro-Evolution Video Claiming They Harm Children 315 Comments- Pakistani Muslim Cleric Accused of Framing Disabled Christian Girl in Koran-Burning Case Read More
- ‘Made Up Religion’: TV Historian Enrages Muslims, Receives Threats After Producing UK Documentary Questioning Islam’s Beginnings 328 Comments
Meet the Controversial German Imam Accused of Brutally Beating His Wife & Pushing Sharia Law Read More
‘Self-Proclaimed Messiah’ & Unification Church Leader the Rev. Sun Myung Moon Has Died — Here’s His Life Story Read More
Business
President Obama Issues Major ‘Green Energy’ Executive Order 236 Comments- Germany’s Upcoming Court Ruling Will be Huge for the EU Read More
Ford Looks to Beat Toyota for Best-Selling Car in 2012 With This Model 148 Comments
Bernanke & QE3: Here’s What You Need to Know Read More- ‘Extortion’: Why Did the Labor Department ‘Drop the Hammer’ on Oregon Farmers? 302 Comments
Technology
- This Is the Creationists‘ Response to Scientist Bill Nye’s Viral Pro-Evolution Video Claiming They Harm Children 315 Comments
‘TaserDrone’: Hackers Weaponize Quadcopter With Actual ‘Shocking’ Technology Read More
Ever Heard of the Wild ‘Burning Man’ Festival in the Middle of the Nev. Desert? Here’s Your Primer Read More
Stanford Develops Technology ‘Better Than Steroids’ for Athlete Recovery Read More
Have You Pretended to Know What ‘the Cloud’ Is? You’re Not Alone Read More
Submitting your tip... please wait!
Comments (61)
Chalupa
Posted on November 25, 2010 at 12:31pmWe are learning that expanding entitlement programs do not promote individual initiative and independence. They become Ponzi schemes that inevitably fail.
Report Post »ItsallaboutJesus
Posted on November 25, 2010 at 10:19am@Sportlock pg 1 reply—-Thank you for the link. I counted 6 warnings by Bush admin. from 2001 through 2006, and just as many denials by the Dems. How can ANYONE try to lay Fanny and Freddy at Bush’s feet. Barney Frank and Charles Scheummer(sp) both need to be in jail for a long long time.
Report Post »powhatan
Posted on November 25, 2010 at 9:49amso all the people that get govt. money are crying foul….amazing….step up and start over….we will have to soon as well…..
Report Post »hempstead1944
Posted on November 25, 2010 at 8:29amApparently, that hopepy changey thing ain’t working over there too well either…..Hey Europe ! Quit rioting in the streets, get back to work and pay the damn bill…..eventually, that is what America is going to have to do…..
Report Post »iwalkalone
Posted on November 25, 2010 at 7:57amthe fact they have capitalism in Europe is not the whole story. They have compassionate social programs that require immense taxes, just like us. Do you “own” a business if another entity has a prior claim to half your profits? Is it really yours if someone else gets all the profits?? I dont think so.
Report Post »scout n ambush
Posted on November 25, 2010 at 4:19amP…S There is lots of evidece of the ancient israelites in their own country and in the recorded history of others .There was a country of israel long before there was a de-rothschild or the builderbergers or the fed that is owned by them. oh yeah rockefeller jp morgan and a few other’s are involved that is according to real old records from when the fed invaded our republic thanks to the progressives .iam sorry i just don’t see the connection .
Report Post »justice
Posted on November 25, 2010 at 3:59amSpooky Dude, We want one world order..
Report Post »alshere
Posted on November 25, 2010 at 3:02amThe Europian monitary system is in trouble because the citizens forgot one important thing.There are no free lunches. Sooner or later you have to pay for what use use or consume. Higher wages, early retirement, free medical care, free higher education, costs money and saps resources. You can look around for someone to blame when all you have to do is look in the mirror. I remember when I was kid there was story that came out Red China that there was a poor rice harvest in one of the provinces and someone said that it was the birds that were eating the rice and Mao that the birds be irradicated and the next year the harvest was worse because instead of looking at the whole problem they were short sighted because the reason for the poor harvest was that insects were eating the rice and the birds were in the paddies eating the bugs. In other words people are short sighted and don’t want to think of the conciquenses. It is time that socialists get a grip and that they learn that there is nothing for nothing and now they must pay for their mistake.
Report Post »Deutscher
Posted on November 25, 2010 at 9:13amA few points. The current problems in Ireland are related to a failure if it’s financial system, not so much it’s systemic debt. And not all economies in Europe are the same.
Report Post »I have a question as well. Which country has free healthcare and free higher education? I’m not sure to which country you are referring. To characterize all European countries as suffering a monetary collapse as a result of free healthcare and education is simply not correct.
Polish_Sensation
Posted on November 25, 2010 at 3:00amHAHA, the British actually created israel because Rothschilds, a well know jewish banking family supported some British war effort, and some how they manipulated the brits into creating israel. i feel soory for the Brits and the French and the US for that matter, our cultures have been hi-jacked. Now white christian americans are made out to look like were evil because we refuse to pay high taxes and we refuse to be told how to live our lives. Now blacks abd other poor people are being told that they are having there services taken away by rich white people who refuse to pay higher taxes. By the way, these people are not rich, most are business owners barely scraping by, they provide people with jobs.
Report Post »Polish_Sensation
Posted on November 25, 2010 at 2:54amNice try at mis-direction NOT!!! At the time of german socialism we had Karl Marx and FREAKS of his ILk spreading thories about Eugenics and Socialism. Europe was a very democratic society, very peaceful untill the “chosen people arrived”.Every Swiss citizen has to have a gun by law yet they have the lowest murder rate in the world. I do feel EXTREMELY sad for Jews who suffered throught the holocoust, by I feel as sorry if not more for the millions and millions and millions of christians who got slaughtered, but we get no love because we don’t flood the markets with Hollywood made movies about our history to get people to feel sorry for us.All I am promoting is freedom, a sence of unity with ones culture and religion, be it white, muslim or whatever.
Report Post »scout n ambush
Posted on November 25, 2010 at 3:54amDemocracy in europe? they were mostly ruled by a monarchy that is more like a dictator .Germany peaceful ? you forget the hessians who invaded this country o that was the jew‘s fault the germanic confederation wasn’t a democracy either i would believe it was the catholic churches behind it before icould blame the jews check out the story of little st.hugh .some jew’s might be bad as you say henry kissinger maybe you know the one who said they were grooming obama to lead the new world order.alot of what is going on now is in the last chapter of the bible it says there will be fake jews like these and j-street.there’s bad in every bunch.there was jew’s in this country before columbus came .check out the“ battle creek stone” they even helped fund the american revolution many were patriots getting away from the catholic church.
Report Post »scout n ambush
Posted on November 25, 2010 at 2:42amNEVER AGAIN means NEVER AGAIN ! you can’t blame the jews beacuse of self hatred by some jews [alan colmes] adolph schiclegruber hitler was a jew too.and the arabs that live in gaza are not peacful nor have they ever been the country was called israel up until the british started calling it palistine.You should research history before letting your anti-semmitisim run wild .Yep jews love socialisim yeah right national socialist party or nazi party notice the word socialist killed lots of them .So let me get this straight they were trying to kill themselves off / final solution is that it ? soros behind Irelands problems nah impossible.
Report Post »Polish_Sensation
Posted on November 25, 2010 at 2:19amCan anyone tell me why we are giving Isreal billions of dollars anualy, sacrifising American lives to protect this country, when we are in a great recession There are a lot of countires out there who have no food to eat unlike Israel which has a booming economy. We also let them have “nukes” and don’t force inspections on them. Why do we support Israel so much and not Lebenon, or Rawanda or the Ukraine…oh yeah they have hi-jacked our Gov’t because I highly dought that we would have otherwise randomly chosen israel of all countries to support otherwise, we were pretty much manipulated into supporting Israel and hating Muslims. DO American-Germans or American Swedes,French,Indian,Chineses send tax money to there countries?
Report Post »Polish_Sensation
Posted on November 25, 2010 at 2:09amKarl Marx jewish, Lenin jewish, Obama and Clintons administrations full of jews. In the official Jewish bible (The babilonian Talmud not the old Testement or Torah) it states many times that Gentiles (non-jews) are on earth for only one reason, to serve the Jew. They will be pulling the strings and the rest will be puppets. A good way to achieve this is through socialism. Jews are also the ones who became the first people to borrow money to people and implement interest, then they have control of you, kind of whats going on in Europe right now. They also like to pit cultures against one another and maintain civil discourse, create multi-cultural societies so that people are to pre-occupied to care about whats happening in reality, thats when they start to take over governments and apply there agenda. Not all jews are associated with this but most are, they are proud to call themselves Zionists. George Sos is also Jewish, and when he says that he is athiest that BS. He is a very proud Jew. Jews think you are so stupid that they can make up a simple lie or diversion and “nudge” you into believing there lie, and the sad thing is YOU still don’t get it. Look at Palestine, how Israel became a country and took all of there land and killed thousand of innocent Palestinians and then made themselves look innocent by claiming that they were protecting themselves from terrorists who bombed there poor country. For every Israili killed, there a a thousand arabs killed or displaced.
Report Post »New-American-Saviors
Posted on November 25, 2010 at 2:02amWE will obviously face the same crisis. There are already Food Lines. Soon Gas lines (Again) Even if you have a job it will cost you more to get to work. Everything seems to be happening at Once. A shift in History is necessary. There are those of us ready to Stand. Meaning not only for defense,but to Lead our Communities. Also Teach and Share.
Report Post »This will bring us back to the old American ways of knowing and respecting your neighbor. Once you’ve been through terrible crisis ther becomes a Bond. Prepare,and contributr no matter what you can offer !
America will be stronger, much to the dismay of those wishing the opposite. We will sort out the ones who Contribute from those that are our liability. The strong WILL Survive ! Happy Thanksgiving.
TnTrader
Posted on November 25, 2010 at 1:20amWe need to carefully watch what happens in Europe. The financial problems there mirror our own and much of the capital is American. TARP transferred hundreds of billions to European banks and bourses to stem the initial crisis, that money is still in play. If the Eurozone falls there will be a ripple effect throughout America’s financial system as well. The rising dollar and increased interest in America’s sovreign debt stems from the weakness in European currency and economic policy, not from strength in our own. Todays report of Sino-Soviet currency cooperation is the first shot in a very short reallignment of economic policy away from the dollar. The agreement between China and Russia alone will have only a tiny impact on dollar supremacy as a the worlds reserve currency, but it paves the way for even further inroads against America as the planetary “go to” economic safe-harbor.
If a Sino-Soviet currency bloc can draw even one major Middle Eastern OPEC nation into its sphere the demise of the dollar, and America’s standing as an economic power, will begin. The only , I say again, the only major American export today is economic stability. We are in a somewhat better position than Europe but only because we have Europe to be compared to. If the Eurozone falls we lose billions outright but far more if the world has a viable alternative that shows greater stability and economic strength.
Report Post »Deutscher
Posted on November 25, 2010 at 1:36amThank you for your comments. Two items of note to me.
Report Post »1. The NEED to keep oil priced in dollars. I worry when I read comments here suggesting we withdraw from our Muslim allies. Many simply don’t appreciate the relationship we enjoy with many IPeC nations.
2. The US’s main export is stability. We could be a great export nation. Germany for example is a top world exporter with few natural resources and 82 million population. Would that we could recapture our spot as an export nation.
whitaker
Posted on November 25, 2010 at 2:02amOur goverment is following the cloward and piven strategy of economic colapse. That is why they regulate business so heavely and put out junk bills that prevents companies from gaining access to alot of natural resources. There is to concidential to be random for a global economic colapse.
Report Post »Cuthalu
Posted on November 25, 2010 at 12:37amMaybe if progressives in Europe and the US would get it through their heads that all the “free” stuff they feel intitled to, is actually payed for by someone else. Looks like the great Margart Thatcher was right, socialism only works until they run out of other peoples money. Looks like they just ran out of other people’s money.
And the horror of the reality that is about to befall them, is well deserved. Hopefully they finally “get it” before it is too late.
Report Post »whitaker
Posted on November 25, 2010 at 1:54amWere about to get the same as them. So we cant say much on this.
Report Post »Promotefreedom
Posted on November 25, 2010 at 10:56amThe Progressives get it. Redistribution of “free” stuff to the masses gets the masses behind them in their quest for more power. The time-line is short. They must seize dictatorship power quickly. After all, the masses would never support them in the first place if they knew their ultimate fate for doing so.
Report Post »pamela kay
Posted on November 25, 2010 at 12:31amWhat will it take to open the rest of Americas eyes to the harsh reality that we as a nation are facing? Socialism has and never will work. Period.
Report Post »cheezwhiz
Posted on November 25, 2010 at 1:27amSocialism has never worked in Europe.
Report Post »Communism has never worked in Africa.
Marxism has never worked in Asia.
BUT COMRADE HUSSAIN WILL MAKE LENINISM + STALINISM WORK
IN USA ……
Nvrforget
Posted on November 25, 2010 at 2:49amNo, Socialism has never worked in Europe, that’s why it stopped existing when East Germany, Hungary and Yugoslavia became capitalistic almost 20 years ago. All other European countries have had capitalist economies since WW2.
Report Post »MadisonLives
Posted on November 25, 2010 at 12:15amThings that cannot go on forever, will stop — Stein’s Law
Report Post »heraldo_de_la_conquista_roja
Posted on November 25, 2010 at 12:14amI salute you, my French and British comrades!
Continue the fight against the government’s austerity cuts, which will terribly afflict the lower and middle classes, but allow for continued tax cuts for the capitalists!
Solidarity from America, brothers! May the Revolution bring everlasting socialism!
Report Post »BRAVEHEART
Posted on November 25, 2010 at 12:30amSocialism is a disease like Cancer. Lets all be comanchero’s for Capitalism. Bandito‘s for free enterprise and Desperato’s for Democracy!!!
Report Post »Clark and Addison
Posted on November 25, 2010 at 12:36am“HERALDO_DE_LA_CONQUISTA_ROJA” has officially become a parody of himself. He may be out of material. Isn’t this just the same dude, repeatedly changing his posting name?
Report Post »whitaker
Posted on November 25, 2010 at 1:50amUm…pst there already socialist. “Viva la revolution!” how did that work so well in cuba and many south/central american countries?
Report Post »Nvrforget
Posted on November 25, 2010 at 2:39amThere are no Socialist states in Europe. Capitalist economies, every single one of them. So what the hell are you blathering on about, Commie?
Report Post »Polish_Sensation
Posted on November 25, 2010 at 12:09amDon’t listen to that “Wolf in Sheeps clothing” Sarkozy. He is extremely dangerous and his plan is to destroy france and europe he is part of this one world order.
Report Post »RobertCA
Posted on November 25, 2010 at 12:44amSarkozy is waking up the French people , the French unions are destroying France .
Report Post »Polish_Sensation
Posted on November 25, 2010 at 12:07amThis is serious!! These countires have been given all these loans by people who had plans to collapase there economies and then provide them with more loans which they would eventually need to essentially take over there country. The reaon they do this is to spread the wealth and eventually have a one world order that is ballanced, every country would be the same, the end capitalism and the start of communism. The main people or race behind this are the JEWS, this has been happening for a long time but now we have figured it out and I see nothing but crazy and dangerous things happeining in the near future.
Report Post »Deutscher
Posted on November 25, 2010 at 12:20amWow. The Jews? Really?
Report Post »I suppose you have your copy of The Elders of Zion closely.
sportlock
Posted on November 25, 2010 at 12:21amOne problem with your assessment, the Jews have the most wealth. They don‘t benefit from spreading the wealth because it’s mostly their wealth. Now if you were to mention all these secret societies that turn out president after president, senator after senator, you may be on to something.
Report Post »Deutscher
Posted on November 24, 2010 at 11:59pmGermany is committed to the Euro and the union, but has problems of it’s own. It can not support a failure of multiple countries. It will be interesting to see what the Chancellor and Sarkosy come up with. The German economy has rebounded beyond all expectations and is instituting austerity measures, but it is still in debt.
Report Post »sportlock
Posted on November 25, 2010 at 12:08amI don‘t know much about what they’re doing in Germany, but is it safe to assume they’re not “spending” their way outta debt?
Report Post »Deutscher
Posted on November 25, 2010 at 12:27amNo. Actually tax revenues are dramatically up this year. But Germany is still dealing with the hangover of reunification, so there is alot of spending.
Report Post »But no massive stimulus was used.
RobertCA
Posted on November 25, 2010 at 12:40amBut for how long Germany will keep saving countries that won’t cut spending .
Report Post »Deutscher
Posted on November 25, 2010 at 12:51amIt is a test for the Eurozone. It will be interesting to see. The Euro is still trading at like 1.33 usd. It’s complicated. Germany is an export country. They make things and sell them abroad ( unlike most countries ), so if the euro weakens it makes German products cheaper.
Report Post »Nvrforget
Posted on November 25, 2010 at 2:37amI live in Germany at the moment (Hallo übrigens, Deutscher) and can’t say that the feeling here is as gloomy as the article may lead to believe. People are more in a “We can do this”-set of mind and contrary to Obama, I actually think they can. It’s actually pretty impressive to watch.
What Deutscher said is correct: The economy is booming, growth rates are incredible, unemployment is at an all time low (well, since the 70s) and wages are going up. All the while, they’re dragging along Greece and soon Ireland, with Portugal possibly to follow as well as the financial aftermath of their reunification as Deutscher mentioned. Even the austerity measures are working beyond belief with many more billions of Euros than projected to be saved.
Report Post »sportlock
Posted on November 24, 2010 at 11:55pmSo this is what the progressives have been modeling America after all this time? Is it safe to say since we see the results elsewhere we can call these policies, failed policies?
Why are Democrats mimicking failure?
Report Post »Deutscher
Posted on November 25, 2010 at 12:13amThe Irish problem was in it’s financial markets. Those policies have been ‘mimicked ’ by both parties.
Report Post »sportlock
Posted on November 25, 2010 at 12:52amDeutscher,
The economy was tanking before President Obama took office so I assumed everyone knew I couldn’t have solely placed the blame for the crisis on Democrats. They’re mostly all crooks. However, this Democrat admin and the majority which were Democrats since 2006, haven’t seemed to change course what so ever. As a matter of fact, they have now modeled our health care system off of Europe and Canada’s failed health care system in the middle of a recession!! But allow me to revise, why do “ALL” our elected officials mimic failure?
Oh yeah, why the emphasis on ‘mimicked’, do you prefer aped?
Report Post »Deutscher
Posted on November 25, 2010 at 1:06am@sport. No the emphasis is because I’m honestly not sure which country led the way, and that implies a conscious effort to copy vs separately evolving processes. That’s why the emp it was not my word is all.
Report Post »brliantedj
Posted on November 25, 2010 at 1:24amSimple, either they are ALL stupid beyond belief (I doubt that) or this is their plan. Think about the PLAN, (Saul Alinsky) Not so far fetched actually.
Report Post »sportlock
Posted on November 25, 2010 at 1:31am@Deutscher
Report Post »I can tell you who unsuccessfully attempted to change course in America in April 2001. You might night even believe it, Bush!. Follow the timeline…
http://www.youtube.com/watch?v=cMnSp4qEXNM
Moody4u
Posted on November 24, 2010 at 11:54pmVanglorious Would The black fist guy would want to say here! Sissies Raise that!
Report Post »NickDeringer
Posted on November 24, 2010 at 11:51pmWhen do we get to call this the failure of Socialism??? When?
Report Post »60% of French youth want to work for the government and retire young. Hello? Sound familiar?
sportlock
Posted on November 25, 2010 at 12:06amOur problem is 30% of public opinion is represented by 70% of the media and 70% of the public opinion is represented by 30% of the media. Until this changes any charges of socialism will only be downplayed as a racist, bigoted, attack against President Obamas skin color and not his policies
Report Post »wtd
Posted on November 25, 2010 at 12:38amNigel Farage “The Euro Game is UP” . . .woo hoo, must watch video: http://www.youtube.com/watch?v=Fyq7WRr_GPg&feature=player_embedded
Report Post »jds7171
Posted on November 25, 2010 at 1:12amWhen will the europeans learn. The same thing happened in WW1. Treaties and to much closeness with other countries brought them down in ww1 and its doing it again today. You can have global trade, but you still have to keep your sovereignty so you won’t get pulled down when other countries fall. Thats what the u.s did in the pass. Not now so we are falling and we are pulling other countries down with us.
Report Post »Nvrforget
Posted on November 25, 2010 at 2:30amAnd now get this: There are no socialist countries in Europe. All European countries have capitalist economies. So, when can we call this a failure of capitalism?
In socialism, the means of production are owned by the people, not by companies. That is not the case in any European country.
In socialism, economic output is preplanned for a set amount of years to fulfill the requirements of the people. That is not the case in any European country.
There are several further (rather insignificant) points to Socialism that, also, do not apply to any European countries.
East Germany, Yugoslavia and Hungary USED to be socialist states. China still is (on paper).
So please stop throwing around the word “Socialism” because it’s simply incorrect.
Report Post »poverty.sucks
Posted on November 25, 2010 at 7:52amSocialist have already thought this through, never let a crises go to waste. Socialists had trained the union leaders that they must resist cut backs and to fight this cause while they don’t understand the economics of it all. Like telling your child to go to sleep when it’s bed time. The child doesn’t understand the benefits of timely rest, yet the child will object because it feels it’s a bad option, unfair, unjust and uncalled for. Unions are bunch of juvenile delinquents.
Report Post »Dustyluv
Posted on November 25, 2010 at 9:01amWE need to stop all entitlements now including Social Security except fot the truly needy. If you have a big screen TV a car, or use drugs why the F are you getting money from me???
Time for the LOSERS in society to fend for themselves. I am sick of paying your bills!
Report Post »SummerB
Posted on November 26, 2010 at 12:01amWTD, GREAT LINK! I subscribed to this channel. You gotta watch this video. I think we need this guy as our President!
http://www.youtube.com/watch?v=vTQB3Ues_F4&NR=1
Report Post »