Category Archives: Euro Collapse

The Ben Bernanke Administration reaches its high point; for Obama, not so much . . .

centernewsnetwork.com:

Gallup reports that US investor optimism is at its highest point since Obama took office. This is, of course, attributable to $85 billion dollars being printed each month by Ben Bernanke and the Fed and used to purchase US Treasury Bonds, thus inflating the equity bubble. Bernanke has signaled that the party may be over, however. Markets have reacted accordingly.

On the other hand, Americans, and the world, are not feeling the love for Obamanomics (don’t hear the media use that term much anymore).

Can’t Bernanke replace Obama, rather than vice-versa? Guess not. Rough times ahead …

French President: Euro debt crisis is over . . . Now lend us some money . . .

TOKYO (AP) — French President Francois Hollande sought reassure Japanese business leaders Saturday that the eurozone debt crisis is over but acknowledged that steps to boost the region’s growth and competitiveness need to be taken.

“What you need to understand here in Japan is that the crisis in Europe is over. And that we can work together, France and Japan, to open new doors for economic progress,” he said in the speech at the Imperial Hotel organized by The Nikkei, a major financial newspaper.

Although the eurozone debt crisis that erupted at the end of 2009 has eased, the region’s collective economy has shrunk for six straight quarters and unemployment has reached 12.2 percent, the highest since the euro was introduced in 1999.

Hollande called Japan an “exceptional partner” and urged both countries to invest more in each other.

“Market-driven factors” had nothing to do with the collapse of Europe’s “command & control” socialist economy . . .

Reuters 5-31-13:

“Unemployment has reached a new high in the euro zone and inflation remains well below the European Central Bank’s target, stepping up pressure on EU leaders and the ECB for action to revive the bloc’s sickly economy. Joblessness in the 17-nation currency area rose to 12.2 percent in April, EU statistics office Eurostat said on Friday, marking a new record since the data series began in 1995.

Economists and policymakers including Germany’s finance minister, Wolfgang Schaeuble, have said the greatest menace to the unity of the euro zone is now social breakdown from the crisis, rather than market-driven factors.

In France, Europe’s second largest economy, the number of jobless rose to a record in April, while in Italy, the unemployment rate hit its highest level in at least 36 years, with 40 percent of young people out of work.”

Poverty in Sweden may be “uncommon” but envy, ignorance and ingratitude is abundant . . .

From Guardian.co.uk:

The gap between rich and poor in Sweden is growing faster than in any other major nation, according to the OECD, although absolute poverty remains uncommon.”
 
From rt.com:

Youth gang riots in the Swedish capital Stockholm have entered fifth straight night. Hundreds of mostly immigrant teenagers tore through the suburbs, smashing windows and burning cars in the country’s worst outbreak of violence in years.

Community leaders insist that a main reason for the violence is the high rate of unemployment in immigrant communities, particularly in the suburb of Husby near central Stockholm, one of the worst affected by the nighttime violence, Peter Oliver reported.

“In Sweden you’ve got welfare, access to the educational system – up to university level, you got access to public transport, libraries, healthcare – to everything. And still they feel that they [immigrants] need to riot through stones and Molotov cocktails. It’s ridiculous and a bad excuse,”Swedish Democrats MP Kent Ekeroth told RT.

“Police can put down these riots in five minutes – if the politicians were to allow them,” Ekeroth added.

Formed in response to violence, they’ll be labeled the “root cause” . . .

From the Guardian:

“Scores of supporters of the English Defence League threw bottles at police and chanted anti-Muslim slogans in Woolwich hours after the murder of one man and the shooting of his two suspected assailants. About 100 men, including some wearing balaclavas printed with “EDL”, engaged in running battles with police for less than an hour. A police commander said officers cited section 60 of the Public Order Act, which allowed them to stop and search individuals within a specific area without evidence of a crime being committed.

EDL leader Tommy Robinson said: “They’re chopping our soldiers’ heads off. This is Islam. That’s what we’ve seen today. They’ve cut off one of our army’s heads off on the streets of London.

“Our next generation are being taught through schools that Islam is a religion of peace. It’s not. It never has been. What you saw today is Islam. Everyone’s had enough. There has to be a reaction, for the government to listen, for the police to listen, to understand how angry this British public are.”

Reuters suffers from Stockholm Syndrome: Islamic riots in Sweden caused by political party formed in response to Islamic riots . . .

STOCKHOLM (Reuters) – The scene of Sweden’s worst riots in years, Husby is on the surface at least a typically neat suburb of colorful playgrounds, manicured parks and low rise apartment buildings.

Conversations with residents of this immigrant neighborhood soon bring tales of fruitless job hunts, police harassment, racial taunts and a feeling of living at the margins that are at odds with Sweden’s reputation for openness and tolerance. Riots that began in Husby have spread across Stockholm over the last four nights in scenes reminiscent of London in 2011 and Paris in 2005 – outbursts with their roots in segregation, neglect and poverty. The Swedish model of welfare – such as its 480 days of parental leave for each child – hides another side.

Some 15 percent of the population is foreign born, the highest in the Nordic region. The rise of the anti-immigrant Sweden Democrats party, which has called for a curfew in response to the violence, has polarized Swedes.

A public beheading of British soldier on London street by Islamic terrorists . . .

The Telegraph:

“Local MP Nick Raynsford said he had been told the man attacked in the street was a soldier serving at the Royal Artillery Barracks near the attack. Mr Raynsford said the soldier had been returning to the barracks after a day out when he was attacked.

London Ambulance Service said one man, believed to be the victim of the machete attack, had died in the incident and two others were injured, one seriously. Several witnesses described seeing a “beheading” while another described seeing a man wearing a Help for Heroes T-shirt being attacked with a machete-style knife and dumped.

Prime Minister David Cameron called a meeting of the Government’s Cobra crisis committee, describing the incident as “truly shocking”.

Cobra meetings are crisis response committees set up to coordinate the actions of different agencies, including the security services, police and local authorities.”

Hmmm.

From Washington Post May 15, 2013:

“A FASCINATING MAP OF The World’s Most And Least Racially Tolerant Countries. Strangely, those horrible capitalist, imperialist Western countries seem to be doing really well.

• Anglo and Latin countries most tolerant. People in the survey were most likely to embrace a racially diverse neighbor in the United Kingdom and its Anglo former colonies (the United States, Canada, Australia and New Zealand) and in Latin America. The only real exceptions were oil-rich Venezuela, where income inequality sometimes breaks along racial lines, and the Dominican Republic, perhaps because of its adjacency to troubled Haiti. Scandinavian countries also scored high.

• India, Jordan, Bangladesh and Hong Kong by far the least tolerant. In only three of 81 surveyed countries, more than 40 percent of respondents said they would not want a neighbor of a different race. This included 43.5 percent of Indians, 51.4 percent of Jordanians and an astonishingly high 71.8 percent of Hong Kongers and 71.7 percent of Bangladeshis.”