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tw · 03-19-2013, 08:53 PM

A fundamental problem remains with the Euro. It is structured so that governments and member states can avert fiscal responsibility. As so often stated, economics then takes revenge. Unfortunately, like everything in nature, revenge is not done fairly. The economic hardships fall on all Euro members.

And so dirt bags like Berlusconi could maximize their profits today. And pain is cast upon all other member states (and the Italian public) a decade plus later.

Cyprus is only a latest example of what happens when the currency is not held responsible by a Central Bank.

Of course American wackos hate the Fed only because of Limbaugh, tea party, and Paul Rand brainwashing. The concept of fiscal responsibility is not found in their diatribes.

Meanwhile, due to a Fed, we did not suffer a 40% unemployment. Due to a Fed that learned from 1929, we averted what was clearly another Great Depression. However we also know the Central Government (George Jr) did everything possible to subvert fiscal responsibility. Ie Mission Accomplished whose costs were never put into the budget. And are now appearing as budget shortfalls. Even with a Fed, scumbags still will enrich the rich at the expense of all others.

Too many banks in America, Japan, Europe, and elsewhere are protected from fiscal responsibility. Are so communist as to think their purpose is a profit (all others work for them) rather than serving the people. As should now be obvious to everyone without doubt - we cannot overregulate finance people. Because their very nature is to screw the economy tomorrow for their own self serving benefit today.

And so the PIIGS (Portugal, Italy, Ireland, Greece, Spain) are now called CPIIGS.

The European Union must surrender national budgets to a central government and banking system. In the US, states must have a balanced budget every year. Cannot invent money as the irresponsible of European governments do. Europe desperately needs something economically equivalent to force economics standards on the member states.

Heavy handed regulations are needed on every finance institution that thinks their executive should be paid more than a water company executive. A banker's job was not profits. His job is to service all others (and not be a prostitute).

03-19-2013, 08:53 PM	#8
tw Read? I only know how to write. Join Date: Jan 2001 Posts: 11,933	A fundamental problem remains with the Euro. It is structured so that governments and member states can avert fiscal responsibility. As so often stated, economics then takes revenge. Unfortunately, like everything in nature, revenge is not done fairly. The economic hardships fall on all Euro members. And so dirt bags like Berlusconi could maximize their profits today. And pain is cast upon all other member states (and the Italian public) a decade plus later. Cyprus is only a latest example of what happens when the currency is not held responsible by a Central Bank. Of course American wackos hate the Fed only because of Limbaugh, tea party, and Paul Rand brainwashing. The concept of fiscal responsibility is not found in their diatribes. Meanwhile, due to a Fed, we did not suffer a 40% unemployment. Due to a Fed that learned from 1929, we averted what was clearly another Great Depression. However we also know the Central Government (George Jr) did everything possible to subvert fiscal responsibility. Ie Mission Accomplished whose costs were never put into the budget. And are now appearing as budget shortfalls. Even with a Fed, scumbags still will enrich the rich at the expense of all others. Too many banks in America, Japan, Europe, and elsewhere are protected from fiscal responsibility. Are so communist as to think their purpose is a profit (all others work for them) rather than serving the people. As should now be obvious to everyone without doubt - we cannot overregulate finance people. Because their very nature is to screw the economy tomorrow for their own self serving benefit today. And so the PIIGS (Portugal, Italy, Ireland, Greece, Spain) are now called CPIIGS. The European Union must surrender national budgets to a central government and banking system. In the US, states must have a balanced budget every year. Cannot invent money as the irresponsible of European governments do. Europe desperately needs something economically equivalent to force economics standards on the member states. Heavy handed regulations are needed on every finance institution that thinks their executive should be paid more than a water company executive. A banker's job was not profits. His job is to service all others (and not be a prostitute).