28 thoughts on “New sandpit

  1. Very amusing to listen to the British moralising about the dreadful lack of morality amongst those staging the ‘English Summer’. The Arab Spring and now the English Summer.

    How can you expect those ‘downstairs’ to display morality or have any belief in morality when they see their ‘betters’ have no morals, are hypocrites, have unbridled greed despite their incredible wealth, and will do anything to get whatever they want?

    They have seen that the British Police are corrupt, politicians are in the pocket of those with power, that their politicians are corrupt, that they will lie to send them to die in foreign countries for no reason and that most recently another example of their greed through the uncovering of their wholesale cheating on expenditure claims (claiming amongst other things for maintaining a moat), that they will spend up big for an Olympic games them downstairs will never afford to go to, while cutting everything for the poor and leaving the rich virtually untouched. Difficult to expect the poor to continue to provide lessons in moral behaviour to the rich when the rich are uncovered for what they are.

  2. Freelander, I’m with you (if I understand you correctly)that the US is attacking the Euro, in order to forestall its rise as a rival ‘reserve currency’ to the US dollar. The US ratings agencies downgrade a Eurozone country’s bonds, and various gamblers with ‘winning positions’ make a killing. The wealth and hedge funds, with access to trillions in black money in ‘tax havens’ (which are steadfastly protected by the USA)can move markets at will, and I’m sure they’re just as true ‘patriotic Amercans’ as any Tea Party Mad Hatter or Special Forces hit-man. Rumours get started, are given a run by the US media, and chaos ensues. Volatility might not be the investor’s friend, but the traders, wide-boys, barrow-boys and assorted shonks of the financial industry grifter elite just love it. As well as destroying the Euro threat it also satisfies the US Right’s determination to punish Euroland for treating its underclass (now about 90% of the population in the USA)like human beings. After all the really Right and proper way to deal with the steerage passengers is with that relentless social savagery and sadism that is such a mark of the USA. The Euroland losers actually expect free and decent education, decent healthcare, decent pensions and social welfare. For the Right, all these are inadmissable affronts to their sheer hatred of others and determination to kick away the ‘Ladder of Success’, and must be destroyed. Just peruse Greg Sheridan’s typically intemperate, and revealing, diatribes in ‘The Fundament’ in recent days. first deriding Europe for its economic woes, and secondly joining in ‘The Fundament’s’ cacophony of outrage and vituperation unleashed by the ‘Chav’s Revolt’ in the UK.

  3. An important part of the European sovereign debt problem, as identified by Stiglitz, is, once again, the Credit Default Swaps which lax US regulation allowed to come into existence. If Europe lets sovereign defaults happen then we will have Great Financial Crisis II, because those CDSs will be triggered all at once and those who sold the ‘insurance’ don’t have the where-with-all to back them up, that is, to pay out.
    http://www.project-syndicate.org/commentary/stiglitz141

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