The Parrot Is Finally Dead: The Economist Does It Again

The Parrot Is Finally Dead: The Economist Does It Again (ZeroHedge, Oct 23, 2014):

With its latest “coverage” of the European economy, the Economist may have finally jumped the parrot.

The Economist - Europe's Economy

Hm, where else have we heard the “it’s only resting” excuse? Oh yes, Mr Panos of course.

So… Europe is not not Greece?

1 thought on “The Parrot Is Finally Dead: The Economist Does It Again

  1. The problem with the EU is that a bunch of small countries decided they wanted the economic power of a large one. So, they threw the Euro zone together without paying much mind to the fiscal conditions of each state, simply taking the word of each. I guess they never heard of Enron accounting, because that is what at least half of the Euro members practice.

    Germany, being German, decided to bail out a couple of the first Euro states that cried Uncle, they thought they could own Europe through financial assistance. Their debt to GDP soared, and finally they had to admit they could not fix Greece, Cyprus, Italy, Portugal, Spain…..and so on. Their earlier plan had to be dropped. Nobody has as much money as these states need….there isn’t enough money in the world to pay off their debts…….and therein lies the problem.

    World economy averages 50-65 Trillion a year, not the hundreds of trillions a year they need. And, their best buddy, the US is in even worse shape. The FED has been paying the interest on the US national debt…..most of it, anyway. The interest on the US national debt for fiscal year 2014 was $430,812,121,272.05. That equals $430 billion, 820 million, 121 thousand, 272 dollars and 5 cents.

    That is just the interest. Where does this money come from? It is madness, and the west (the EU and US) are beginning to feel it’s effects.

    If the EU goes down, so goes the US dollar. The EU is the only outside financial structure supporting the dollar……everyone else has gone east to Putin’s basket of currencies……..

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