Tuesday, June 15, 2010

Euro-damage: How the union made Europe's weaklings even weaker

[mEDITate-OR:
not act as if you're not Holy-err than thou...

chart_piigs_debt_gdp.top.gif
The rage, everywhere, was to get deep and then deeper in debt.
So, we all did - the PIGS, U.S., and even China, to U.S.

Then, Sunni enough, the Shiites hit the fandango.

A decade ago, Russia was broke and getting broker...
then, thanks to U.S. and our thirst for oil, they hit a gusher...
of EURO's and petrol dollars..., and lost all cents...

The problem with PIGS is that they were, and are not, all equal.
Spain and Ireland were the highest of high flyers...
Massive expansion of jobs and wealth.
True, Greece and Portugal were much slower growth.
But, to blame all of the PIGS problems on the type of government they have...
or to say that they were not for a few decades "competitive" with U.S.
is revisionist history.

That does NOT, however, change their, and our, situation.

{Y}our debts, under W Bush, grew as fast as theirs did...
and {Y}our debts are now greater than all of the PIGS combined.

So..., look down your snouts at them...
and see yourselves in your rear view mirror.

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Euro-damage: How the union made Europe's weaklings even weaker
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