Sanctions are biting, and they could go nuclear!, but not quite yet, until they hired idiots to kill the Saudi Ambassador!, while still cowering in our beds, so there’s no reason to make the DOD budget anything more than an object lesson in stupidity, let alone justification.
Archive for January, 2012
“We promise to do as little in the future as we are doing right now”.
When the problems in Euroland are competitive imbalances and record high unemployment, while everyone in power thinks it’s sovereign debt, there’s not much chance that the right answer will appear.
Gorilla says: “Get the Germans out of the 1920s, or the rest will repeat the 1930s!”
The governor of Arizona (but you could insert Ohio, Florida, Pennsylvania, Indiana, Alabama, Georgia, Virginia, and New Jersey in this space) is a racist and a liar!
Gorilla says: “I’m neither shocked nor appalled by reading the truth about these horrible Know Nothing clowns for the umpeenth time!”
The Greeks have a decision to make: get out of Euroland or forever become a wholly owned subsidiary of the IMF, the EU, and German banks.
The only leverage Athens has is to default and go back to the drachma.
There’s no possibility that Greece will be able to meet its debt obligations with an economy being bled dry by the Germans and a lack of competitiveness.
A currency devaluation of 75% will give some hope to Greek workers: see Argentina and Iceland.
Short-term (not decades long) pain will bring with it long-term gain.
And the Germans at long last will be forced to abandon from their utterly amoral, stupid and unnecessary austerity morality fetish.
Gorilla says: “In the name of Socrates, GO!”
Gorilla loves to write, loves his blog, but also gets weary going over the same old issues that never get resolved.
For example, who cares who wins the Know Nothing party nomination? Absent a total economic breakdown in the next 6 months, President Obama should cruise to reelection.
Who cares about the US budget deficit? Actually, no one in power cares, but they’re stuck in a doom loop narrative of their own creation.
Cruise ships? Can’t be bothered.
Various Middle Eastern civil wars and other conflicts? Honestly, it’s great to see a somewhat fitful march towards democracy, but there’s no US national security interest involved in the region that doesn’t begin and end with oil.
So, Gorilla’s not been as frequently topical thus far in 2012.
Gorilla says: “Hoping the world obliges with more interesting news this Chinese New Year!”
Straight down the rabbit hole goes Euroland!
The problem isn’t actually Greek debt, it’s the huge competitive imbalances between Germany/Northern Euroland and everyone else.
Until the Germans are willing to both consume far more and finance Southern Euroland debt through the ECB as lender of last resort, Euroland will continue to stagnate.
The further insistence on austerity, at a time when much more stimulus is needed, insures that we’ll be back revisiting the same dilemma in 3 months and in 3 years.
Gorilla says: “Organized default has nothing on disorganized Deutschland!”
Sure, it can’t be done, because of (take your pick) political gridlock, deficits, pointless wars, etc…
But it would be nice just once to have yet another joke commission on jobs say: “Hey, we need to hire more people! If the private sector can’t or won’t hire enough people, the government can!”
Gorilla says: “What’s depressing about this depression is the total lack of enthusiasm for doing anything to address actual problems!”