Formerly T-Bear
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A troika was a three horse drawn vehicle that provided greater stability on slippery surfaces, one horse slipping would certainly bring down the other if there were only two and not so likely when three are drawing, the economic entity so named hasn’t the hope of creating stability, troika is singularly a poor reference. Otherwise a fit word for this economic group may come from China, the TRIAD, in reference to *Chinese secret societies, some now associated with criminal activities, esp. heroin trading* which may be a better view of the IMF, ECB, and the Euro Commissioners. Just a thought.
** from Chambers Maxi Paperback Dictionary 1992
How geranium is it that tulips aren’t rosy?
Have you a supply of brain-bleach after offering Geert Wilders picture twice? His Mom should be only so proud of that one.
Are there any requirements for relevancy in comments, looking at Trivial4TW’s last offering which detract from the value of TAE. Fluoride poisoning indeed, went out with the John Birch Society, recommend getting a life and stifling until that is accomplished. Next thing on such agenda is ‘trickle down economics’ is something other than some cheating eejit higher than you on the social ladder pissing down on you.
The ECB still got it wrong, bless their pea-pickin’ souls. The ECB should not be BUYING bonds, they and the national central banks should be the ones SELLING bonds to the markets, bonds contracted for specific periods and SPECIFIC rates. The buyers (the market) have the choice to buy or not, as befits a truly free market. Any change desired before the period or rate is completed, the bonds can be sold on some secondary markets at the buyers will at the buyer’s risk. This would put a good measure of sovereignty back into the control of the issuing state. There is nil chance this will happen as long as incredible debt can be mass produced to stuff the vaults of a handful of creditors as income producing assets.
Did I just see the Spanish debt is now nearly 100% of GDP?
Rajoy has been in office about 6 Months, his predecessor Zapatero left office with a debt ratio of about 64% but with later information that has gone to about 66%.
GDP of Spain is about €1,500 Billions but falling now about 7% per year (€105 Billions). 33% of €1.5 Trillions is about €500 Billions added to the country’s debt in just 6 months. Just to whom does Rajoy have allegiance? Is anybody keeping score, other than the troika bankers? This will not end well, Spain will be the bridge too far for the EMU.
The value of the Euro in the EMU was the proof that a common unit of accounting could be adopted across national boundaries and accepted by those various populations. The failure of the experiment may cloud this happening again if the elites do not exercise great caution, when the Euro fails so too will be any postulated world currency and may blow-back against the US dollar in its role as reserve currency given the US inability to govern itself in a stable manner. If that is the case, the passing of the Euro will be a dear disaster of epic consequence.
