ChristophWeise2
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I admire the intellectual independence of the new Greek leaders. And I hope that their stance will bring about change to the undemocratic structures in the EU and the EU countries. Unfortunately the economic analysis of Tsipras is not completely correct. Or if it should be correct it is not visible from his article in Le Monde: The Greek economy and it’s citizens will never recover unless Greece is relieved from it’s current debt burden which is probably closer to 500 billion than to 200 billion. The amount to be forgiven is already big enough to change the foundations of the EU and this is why this will never be agreed. Greece is terminally entangled in debt slavery with Schäuble being it’s master unless it frees itself from the EURO and the debt service. The last chapter in the Le Monde article is therefore either missing or not yet visible.
Raleigh: Most journalists are not free to write what they think. Most people have lost track of understanding financial developments after two decades of fabricated statistics in the US and elsewhere, distorted pricing mechanisms and the successive development of various asset bubbles. Confronted with billions and trillions galore even the journalists make the most silly mistakes confusing themselves and their readers.
In a world full of inflation and distorted prices many people believe they are rich although they are not. Share prices are treacherous – how many shares bid get the full price if a downswing sets in? Free annual cash-flow after taxes should be a reasonable indicator. Russians at 12% income tax likely do better than Germans at 50% (including church tax). Nations that call themselves “productive” and have high taxes and an efficient tax collection system are likely to show a low median wealth because they squeeze their population like lemons and are less attractive to wealthy residents. That should explain why countries such as Cyprus and Italy show a high level of median wealth although their economy is weak.
ECB QE is a consequence of FED policy and the announcement to increase rates. Increased rates shall push sovereign debt deeper and force the holders to write-off. Such write-offs shall trigger bank defaults which would lead to a reset. The cause of the problem is the FED which needs to be abolished which will also lead to a reset. Eventually there is not other choice but to abolish the central banks in their present form. From my EU-perspective the US citizens should overcome the corrupt system of Democrats and Republicans, establish a new political power party that campaigns without huge cost using the internet and rid themselves of the FED which is only serving the interest of very few and drives the US population into poverty.
