The Truth About Europe: There Is No Solution Part 1
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I like that title, The Truth About Europe: There Is No Solution. But I don't think it can all be summed up, the reasons why I mean, in one article
[See the full post at: The Truth About Europe: There Is No Solution Part 1]The ‘Sarkozy carry,’ borrowing from the ECB at a low rate and buying sovereign bonds which have higher yields, seems like it’s good for the banks and bad for us. But with the recent rise in Spanish and Italian yields to pre-LTRO levels, haven’t the banks been losing more in the value of the bonds they bought between the first LTRO and now than what they would gain due to the difference in yields?
Sadly, gaining the political leverage necessary to do those things which might ameliorate some of the oncoming pain is quite difficult to achieve.
The “democratic” institutions don’t WORK for anyone but the monied interests, and they really never have. Besides that you have the problem of Social Inertia. This Juggernaut we call the Industrial lifestyle with all the systems it has built up over more than a century can’t stop on a dime, except of course if it smacks into a brick wall in which case even Airbags probably won’t make a good Lifeboat.
Try to deconstruct these systems piecemeal in a controlled fashion over a much shorter timespan than it took to develop them is probably an impossible task, though certainly worth the effort if you could gain the political control necessary to do it.
Unfortunately, gaining such political control is nigh impossible when TBTB got the Big Ass Military and wave after wave of Gestapo beating heads all over the world at the moment. Nothing short of Revolution has potential to change that, and even Revolutions get easily coopted by the monied interests. (See Trotsky, see Egypt, etc)
So the goal of trying to ameliorate some of the pain coming down the pipe here for J6P is probably not going to happen, and you just have to wait until the Conduits of control are in such catastrophic failure that even the Gestapo and the Big Ass Military begin to fracture, and fracture they will.
Exactly how LONG that will take to happen is open to conjecture, but it’s pretty certain it’s going to happen in Eurotrashland before it happens here in the FSofA. Also unclear is when similar will occur in China.
Whether we can quickly salvage enough of current civilization to avoid a St. Matthews Island Die Off scenario once the catastrophic failure begins is an open question. It will only happen though if enough Cells of people are prepped and ready for the endgame. Prepped and Ready does not just mean having a Permaculture Doomstead either. It means being ready to FIGHT for the survival of Homo Sapiens against the Forces of Evil.
Lock and Load. The Big Show is Coming Soon to a Theatre Near You.
Europe and Japan are in a special bind with an inverted population pyramid and high youth unemployment. Worse the high debt to GDP ratios are in large measure the result of protecting the jobs of the older workers in state industries and a bloated civil service and leaving the bill for the any young person who is dumb enough to stay and smart enough to find a job.
I should distinguish that Japan does not suffer the catastrophic unemployment among its young that Southern Europe is experiencing but it is leaving them in lower paying contract jobs and passing on the debt their parents and grandparents accumulated on to them. More like the US though with far worse demographics and without the fossil fuel fillup North America will get over the next few decades.
sangell,
I loved this Freudian slip “without the fossil fuel fillup North America will get over the next few decades.” 🙂
https://www.thefreedictionary.com/fillip
Thank you Ilargi for your piece. I know it was not meant to cheer me up, but it did.
Well its finally here.
Money is going into gov bonds and paying for the privilege.
We can also see the other implications that this means.
Growth is no longer happening.
The price of a barrel of oil is approaching the $90.00.
Its great if you still have a job and money to spend for it.
Its still too expensive and unaffordable if your income is too low or nil.Good call I&S.
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