Posts Tagged ‘Euroland’

The Blog Catches Up With Ten Tired Topics

Friday, November 8th, 2013

Gorilla’s not been blogging lately, mostly because he’s got nothing more to say about the following topics:

1) GOP intransigence: Now in Year 5.

2) Immigration reform: Never had a chance, will never have a chance until Republicans are booted back to a minority in all three branches of government.

3) ENDA: ditto.

4) Healthcare reform: a big botch, mainly because Medicare for all would have been much easier to implement, so long as your vested interest wasn’t insurance.

5) Chris Christie: he’ll never be the GOP nominee for President.

6) Ken Cuccinelli: Off to the land of grifterhood.

7) Euroland: finally decided to do some of the right thing with interest rates, but still not doing what’s needed: a much higher inflation target, the end of austerity, and a big increase in German consumption.

8) Fed: See Euroland.

9) Hillary Clinton: if she runs, she’ll win, if she doesn’t, Dems will win anyway.

10: Gun Control: see Immigration and ENDA.

Gorilla says: “More to come eventually, but at the moment there’s nothing much to say, except Happy Birthday, Anka!”


The Stupid Will Continue

Wednesday, September 11th, 2013

In Syria, where we’ll be waiting a little longer for Vlad and his guy to throw themselves out of power, and our President continues his march down the Exceptional Bullshit Trail.

But especially in Euroland, where a teensy bit of growth is translated into Bruxellese: “The beatings will continue!”

Gorilla says: “And the rich have got more of our national income than they’ve had since the 1920s, plus ca change…”


The Stupidity Will Continue

Thursday, June 6th, 2013

Yes, it’s the ECB, out with yet another downwardly revised “growth forecast” (after 6 straight quarters of no growth) and a refusal to do anything at all about it!!!

What is needed is the following:

1) Cut interest rates to 0%.

2) Announce an inflation target of 5% until unemployment drops below 7%.

3) Large scale stimulus (at least 2 trillion euros) in surplus Eurozone countries (Germany, Netherlands, etc.).

4) The postponement of austerity programs in debtor Eurozone countries (Italy, Greece, Spain, Portugal, Ireland) for at least another 5 years.

Instead, Draghi does his best to be as stupid as Trichet, all in service to the Fourth Reich reelection campaign.

Gorilla says: “See, speak and hear no evil, just be evil!”


Le Dip Double

Wednesday, May 15th, 2013

No surprise, once again austerity is contractionary!

France is back in recession, and it’s likely to continue so long as the Fourth Reich reelection is the top priority in Berlin.

The Germans need to stimulate demand at home, encourage a higher level of Euroland inflation, and get off the moral low ground they mistakenly believe is virtuous.

Gorilla says: “Plus ca change, but plus, sil vous plait!”


Sense At Last, But Will It Last?

Thursday, May 2nd, 2013

The ECB’s finally noticed that the Eurozone is in another recession, that austerity isn’t working at all (they’ve noticed but not actually admitted this is true), and that inflation continues to be too low.

So a cut in interest rates, not to zero, but from 0.75 to 0.50%…

Alas, what’s also needed, namely a reorganization of the banking system, a much higher inflation target, the end of austerity, large scale fiscal stimulus, and a clear assumption of the lender of last resort role remain off the table.

Until these things happen, Euroland will limp along, with all eyes on whether the Fourth Reich will win reelection in the fall.

Gorilla says: “Even idiots occasionally are correct!”


Miss The Target? The Stupid Continues

Monday, April 22nd, 2013

Yes, Euroland, where every day brings with it a demonstration that fiscal policies that promote contraction lead to larger deficits!!!

There must be growth! But how to achieve this when you’re destroying millions of lives for no good reason?

Gorilla answers: “The Fourth Reich must be reelected, that’s the one and only reason!!!”



Monday, April 8th, 2013

The Portuguese begin a further long march into death and misery on behalf of Angela Merkel’s fully contagious “Reelect The Fourth Reich” campaign:

Gorilla says: “Babalu was vastly more entertaining, but Europeans love their self-inflicted and unnecessary suffering even more than we do!”


Ruining Millions Of Lives For No Reason

Tuesday, April 2nd, 2013

It’s Euroland, of course, with the highest unemployment rate ever!!!

And it’s all entirely due to the stupidity and cowardice of the worst political leaders since WWII.

What’s needed is never what’s done:

1) Cut interest rates to zero.

2) Undertake a stimulus on the order of $2 trillion.

3) Announce a higher inflation target of 5% until unemployment gets below 6%.

Instead, we get the Fourth Reich: economics as morality play, austerity as proven failure, and no willingness whatever to take responsibility for the lying.

Gorilla says: “Angela Merkel needs to be out of the picture as soon as possible, so for once do something right, German voters!!!”


The Bloem Is Off The Banks

Tuesday, March 26th, 2013

Dutch finance minister commits gaffe, says Cyprus is a template for future Euroland crises!!!

And of course, he spoke the truth: banks should be allowed to fail, their shareholders and depositors should be made to pay, and there also must be political accountability.

And of course, that’s not actually what’s happening in Euroland beyond Cyprus, because the Germans are having an election this year and Angela Merkel doesn’t actually want to be held accountable for anything.

So the muddle continues, because there’s no continent wide banking regulation, or deposit insurance, or a central bank willing to make monetary policy for someone living outside the Fourth Reich, or politicians who are anything other than incompetent, craven, and stupid liars.

Gorilla says: “See how the banks run bank runs!!!”


The Choice For Cyprus

Thursday, March 21st, 2013

It’s not Greek v. Turk, this time it’s Ireland v. Iceland!

Essentially, the Cypriots have to choose between substantial haircuts for bank depositors (most of them foreigners who like tax evasion and money laundering), which effectively ends the only large industry other than tourism, and leaving the Euro, which will undoubtedly increase tourism and give the finger to the Germans and Russians (no bad thing).

Staying in, as Ireland has found out, means years and years of grinding poverty and high unemployment. Never joining, as Iceland found out, means you can screw the banks, use and devalue your own currency, and get back to sustainable growth more quickly.

Gorilla says, “Saying goodbye to Euroland is always the easiest solution!”