August 19, 2008
Doug McIntosh
EuroZone is the official phrase used to describe the economic aspects of the European Union. It is one of those vapid phrases made up by the cretins in charge at Brussels no doubt. Or maybe a journalist came up with it. Or then, maybe it just crawled out from under a rock somewhere. I am stuck with it much like a pimple, but it is one of those words that annoy me no end. After all, we are talking about some 15 countries with several thousand years of history: culture, politics, economics and military history. Did Julius Caesar conquer Gaul, or did he conquer part of the EuroZone? The Roman EuroZone? Just doesn't have the proper ring to it in my view.
However the miserable phrase EuroZone came to be, all is not well in it. It seems our NWO hacks over in the United States have bungled the economic job of "containment." While containment worked, more or less, during the Cold War in the political sphere, it has been a dismal failure in the economic one. It seems our sub prime "contained" problem has infected EuroZone. At least according to the Financial Times. Paulson, our utterly miserable excuse for a Treasury Secretary, may well go down in history for his "it is contained" sound bite. Much as in 1929 Professor Fisher's "permanent stock market plateau" has followed him beyond the grave. The stock market plateau turned into an abyss and it looks like Secretary Paulson is following him over the edge. Good riddance!
The Financial Times tells us in an August 14th article EuroZone, the 15 country blob called the EU, is in economic decline. They further tell us this decline is the first one in 10 years, as in a decade. Paulson and his NWO cronies would have us believe the way to wealth and prosperity, for them mostly, is by the creation of endless debt. Um, I realize Paulson is in charge of a bankrupt country, reduced to breathing economic vapors before it lapses into a coma, but even he can't believe this anymore. Not that it matters what idiots like Paulson believe anymore. I am afraid the economic reality of collapse and the economic reality of debt based deflation is well upon us. Ross Perot's giant sucking sound has now turned into a wind tunnel sucking debt into it with gleeful abandon. The debt is worthless. This is why the global financial fraud system is going to go down.
The Financial Times tells us the EuroZone had a 0.2% decline in the second quarter, April, May and June versus a 0;7% increase in the first, January, February and March. I am still somewhat bemused by these kind of statistics. As if they reflect economic reality. Several countries in the EuroZone, like Spain for instance, are in economic free fall. While both Ireland and the United Kingdom are outside the EuroZone, they also are in free fall. The rest of EuroZone is also in much, much worse shape than a 0.2% decline would indicate. To put it plainly, the drop from 0.7% positive to 0.2% negative is nearly one full percentage point. And that assumes, which I don't, the figures aren't rigged to make things look better than they really are. So, if they admit nearly a 1% drop in a 90 day period, you may rest assured it was really in the 5 to 10% range. Economic deceit via statistics is a common feature of modern life.
Another Financial Times article tells us Japan had the worst second quarter in 7 years. Could be why they are in political chaos and the Nikkei is hovering at the 13000 level. Of course here in the good ole USA we are absolutely assured by Paulson and his Wall Street buddies everything is okay. It seems the stimulus checks caused a 0.5% increase in our second quarter. The fact the money was really borrowed from China isn't factored into the equation. I am sure our Afro Commies $1000 stimulus check will be in the mail shortly and will save us all in America.
The debt is worthless. The rest of the world has figured this out. The other big story out of Europe was the final collapse of the "free trade" talks. This trade collapse will have even more profound economic implications than the spreading global depression. Japan and the EuroZone are slowing, slowing, slowing. The USA is on life support with a debt tube up her nose. We are told Mexico and South America are thriving. Once you dodge the headless corpses in Mexico or ignore Chavez and his lunacy. Africa? Australia? Asia? Did I leave anybody out. Oh yes, Russia is in reasonably good economic shape for the moment. At least until we "punish" her.
We are entering the second phase of the debt based economic collapse which began about 18 months ago with "sub prime real estate." Whatever our moron Treasury Secretary has said, is saying, or ever will say, subprime is not contained. In fact, the subprime meltdown is going prime time. I wonder if Paulson thinks he can simply retire his way out of the stink? Paulson needs to understand that some stinks don't go away. Paulson has been sprayed by the skunk on this one. The smell of economic collapse will stick to Paulson forever. He will be remembered as the Treasury Secretary who presided over the formal economic collapse and bankruptcy of the USA.