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To: Hawkmoon who wrote (25938)	9/12/2011 4:05:21 PM
From: GST	9 Recommendations Respond to of 29622

<QE3 may come from Europe, not the US> The European Union is coming apart. Their banks are insolvent. Many of the member states are insolvent. The insolvent states will bankrupt the insolvent banks if the ECB does not bail them out. In the US, the US is an insolvent state. The US has insolvent banks. The insolvent US state and the insolvent US banks will both go bankrupt unless somebody bails them out. It is mostly the same in the US and Europe -- but with one significant difference -- Germany is not insolvent while the US is insolvent. So in order for the US government to bail out the US banks, the US has to be bailed out by China. If China is not willing or able to bankroll the US government, then the US will simply default in the way that is the time honored tradition of other bankrupt states -- we will print money -- and print and print for decades to come. When all is said and done, Germany might or might not become insolvent if it tries to bail out the rest of Europe. But their industry and their export oriented economy is the envy of the world, while the US is a broken down car with flat tires driven by fat old men who sleep with medals they awarded to themselves for sending young men to their deaths to satisfy their own vanity. The Germans must decide whether or not to bail out Greece and others -- China must decide whether or not to bail out the US. If we had the economic strength of the Germans it would be an entirely different story. But we would rather wreck our own country with war debts that we can't even begin to afford to shoulder rather than build a prosperous nation that we can be proud of. The world desparately needs nation building -- and to that end, we would be well advised to refocus on putting our house in order and send the military back to its barracks.