The Phaserl


Does Announced EU Deal Leave Out Critical Elements?

by The Daily Bell:

‘Armageddon’ to Happen Despite EU DealJim Rogers, Chairman of Rogers Holdings says the latest euro zone deal does nothing to help solve the region’s biggest problem, which is its high debt levels. Even as markets cheered the agreement by European leaders to allow the direct use of the bloc’s bailout funds to recapitalize struggling banks, well-known investor Jim Rogers told CNBC the move does nothing to help solve the region’s biggest problem, which is its high debt levels. – YahooFinance

Dominant Social Theme: Everything will be okay with this deal in place.

Free-Market Analysis: Jim Rogers’s analysis of the “deal” that has been reached by top EU “policymakers” (excerpted above) is probably accurate. Apparently, EU leaders will now be able to lend to banks without further degrading their various countries’ credit status.

But why filling up bank coffers with paper money is seen as a triumph of some sort is difficult to ascertain, as Rogers astutely notes. The real problem faced by the EU is that member states spend too much money and that they cannot devalue their currencies to pay off debts and “spread the pain.” Here’s more from the article:

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2 comments to Does Announced EU Deal Leave Out Critical Elements?

  • Praxis

    The closest mental imagery of Europe looks like the death of brain cells creating pockets of scar as benevolent toxic chemicals spread through the cancerous host during ‘treatment’. Fuming poison blood.

    In reality it’s more like Akira (late 80’s motorcycle gang psycho thriller anime. trust me you’ll want to watch 5 times minimum), which is even more disturbing. Cancer being the treatment (or cure, depending on how you look at it) of cancer culminating in the hemisphere of familiar light which swallows Tokyo which people often think is an A-bomb metaphor.

    Or Neon Genesis Evangelion, but I’ll leave you to analyse that pandora’s box. Not the new ones though. They ruined it. The old ones are the magnificent ego enema.

    Again, thanks Sean. Your filter is polarized in just the right way.

  • dishesdealer417

    They always do this. They have some stupid summit and nothing changes then the eurocrats come out and lie about how everything is better now, then a few hit the talk shows then someone from germany comes out and sets the record straight.

    I don’t believe anything they have to say until and unless somebody from the German Banks or high up in the German government confirms it. Then it will probably have to go before Germany’s highest court and they will strike it down.

    More crap propaganda out of the eurocrats.

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