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Strategies & Market Trends : Heinz Blasnik- Views You Can Use

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From: Eva	5/10/2011 12:32:15 PM
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update -- trotsky, 12:16:25 05/10/11 Tue Meet Europe's 'Radicals' As we noted yesterday, Luxembourg pm Klaus Juncker's office simply lied on Friday about the recent 'secret' meeting of euro area finance ministers over Greece. What we didn't know was that lying has been declared an official policy tool by the man - on the grounds that 'nobody believes us anymore anyway'. Juncker's spokesman Schuller lets us know that they are lying for 'self-preservation'. That they are losing whatever shreds of credibility they may still have had is evidently no longer important. This, in short, is the euro area establishment. A lying. conniving bunch that in order to bail out connected industries (i.e. the banks), regularly descends on tax payers like thieves in the night. On the other hand, we find those that are painted in the press as Europe's 'radicals', such as True Finn party leader Timo Soini. His crime? He demands that the euro area must return to free market principles instead of bailing out bank bondholders and entire countries. Let those who are bankrupt fail - an entirely reasonable demand. In fact, Soini comes across as a fervent critic of the system of State Capitalism as it is currently practiced. Nothing is wrong with his analysis of the situation and his conclusions. He will hopefully be able to throw a spanner into the eurocrats works. Another alleged 'radical' is UCD economics professor Morgan Kelly. His crime? He acknowledges publicly what everybody knows - namely that Ireland is hopelessly insolvent and has been sold down the river by its successive governments in negotiations with the ECB and IMF. And he demands action. Let the banks fail. Stop all government borrowing. Too radical? We are always told that untold calamities would result if government were not racking up huge debts. Ireland would be in a great position of putting that old canard to the test. In post hyper-inflation Zimbabwe, the government can no longer run deficits. So far the result there has been a strong economic upswing. Some calamity! Kelly lets us in on how the negotiations over Ireland were botched. One of the movers and shakers in the background: Timothy Geithner, who apparently has never met a bank he doesn't think deserving of a tax payer bailout. acting-man.com

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