Slimviews: Commentary on Global Political and Economic Events by Slim Fairview. Read my blog today or hear it from experts in a month or two. Slim
Perhaps I should not call it commentary.
"Everybody knows what everybody knows." Slim Fairview [From The Quotations of Slim Fairview/ Copyright (c) 2011 Slim Fairview]
But I digress:
The latest reports out are that back in the mists of time, the fact that Greek debt was higher than reported and that prognosticators were saying this could lead to a default at some time in the future, were met with vehement denials and great acrimony.
"You show me disrespect. I got empowerment and dignity. I got an entitlement. Gimme something." [sic]
"Positive reinforcement of negative behaviour is a disincentive to improve." Slim Faiview. The time for stern measures was then. The EuroCrats failed. They were bullied.
Now that disaster has befallen Greece, Europe, Asia, The World, The EuroCrats are attempting to save face by taking stern measures.
Ineffective, ineffectual, but stern. And, too, they are clutching retentively to their ideologies like a two year old with his hands down his nappy.
You cannot have a solution that does not include economic development.
You cannot have a solution that does not increase the middle-class.
"The rise or fall of the middle class is a leading indicator of a nations future." [Success or Failure] The Quotations of Slim Fairview.
Still, the EuroCrats will not budge. This may be trite but it is true: They are rearranging the deck chairs on the Titanic.
Papandreou was to resign. Markets up. Denial. Markets down. Agreement to resign, Markets up.
"Those who forget history are doomed to repeat it." Santayana.
"Those who never learned history are doomed--period!" Slim Fairview
Berlusconi to resign. Markets up. Denial. Market down. When € 500 billion, tell you to go, you go. However, first there must be talk. Rumours. Denials. Pledges. Indignation. (Righteous or otherwise.) Accusations. Recriminations. Finally, a Sanctimonious Submitting of his Resignation--with deep regret. And a nasty insinuation about his critics and the opposition. I apologise if this seems harsh. However, we've seen it before--all too often.
Meanwhile, the Greek Parliament (Critical of the US) is emulating the US Congress in handling serious debt crisis matters. To assuage their bruised egos, the EuroCrats are comparing themselves (Contrasting) favourably to the US. That must offer some satisfaction. No solutions but some satisfaction nonetheless.
The only new visions the EuroCrats have embraced is to move from a failed policy and procedure of pursuing austerity with celerity and no mechanism for growth (rather stifling growth) and repeated larger doses of a medication that harms more than it hurts the patient.
There are some people who, when confronted by the consequences of their actions, will coagulate like white corpuscles to defend the body against the medication designed to heal the illness.” –Slim Fairview
That is what the EuroCrats are doing. Fighting the medication that will heal the illness.
The next step the EuroCrats are in the midst of taking: A Ponzi Scheme. Now that investors have lost half their investment, the EuroCrats are going to China for investors; to Brazil for investors; to the Petrostates for investors. Call it what you will. Define it any way you choose. This is a Ponzi Scheme.
If you are not laughing I will assume you understand the severity of the situation.
Instead of describing my blog as Commentary, let me say that it is more prescriptive than descriptive. But don't bother listening to me. Everybody always doesn't listen to me.
Bon chance.
Slim
slimfairview@yahoo.com
My Comment on The New York Times On Line.
http://community.nytimes.com/comments/www.nytimes.com/2011/11/05/world/europe/italy-agrees-to-imf-oversight.html?permid=46#comment46
Copyright (c) Slim Fairview
Showing posts with label Sarkozy. Show all posts
Showing posts with label Sarkozy. Show all posts
Monday, November 7, 2011
Tuesday, October 25, 2011
EuroUnion: An Uncivil Union
The EuroUnion will go nowhere without an Economic Development Project. And, Europe needs both Management and Leadership.
You can't lead if you can't manage. And the EuroCrats CANNOT manage.
One reason the EuroCrats fail is because no one has confidence in anyone. Why would they?
Why would anyone feel confident in the EuroCrats, Merkel at the fore, who have devised a plan, implemented the plan, and presided gallantly over the plan that has perpetuated the decline?
Who, really, has confidence in Angela Merkel? Who? Why? Answer: Because she is rich.
Here is the folksy analogy.
Hey, everyone, Rich Aunt Angela is coming to dinner. Let's spend more than we can afford and eat less than we need, to curry favour with the Rich Aunt who criticises us for wasting money on frivolity and not eating well.
You cannot cut wages, fire people, raise property taxes and call it a solution.
You cannot approve a bailout on the assumption of growth in Greece, then impose sanctions to punish Greece because your assumptions were wrong and call yourself a leader. You are not a leader. And you certainly are not a manager. You are a failure. A failure.
Reduce the number of attendees.
Stop sitting in a circle behind flags.
Face the blackboard.
Don't ask questions.
Through question and answer, quest 4 the truth.
Eliminate known failures.
Seek not consensus--seek acknowledgement.
To lift a line from our Founding Fathers: "We hold these truths to be self-evident."
"It may be a Universal Condition: We refuse to acknowledge that all alliances and enmities are transitory." The Quotations of Slim Fairview. However, The EuroCrats must accept that the Zero-Sum Game is no longer viable. That is the nexus of my ppt. presentation "The Future of the G 20 in Good Times and Bad." If you watch Cannes, however, you will see my prediction come true. Nothing will come out of it.
I had had hopes when I read the statement by Wolfgang Schauble adding two more elements to the EuroPlan.
Provisions for Economic Development. (Growth)
Management of the EuroUnion.
It seems neither will come about any time soon. In other words, why bother making the effort to put the umlaut (รค) when writing his name when he will prove to be as big a disappointment as Chancellor Merkel?
It is time for Angela Merkel to step down or for the Germany to leave the EuroUnion.
Bon Chance.
Slim
slimfairview@yahoo.com
Copyright (c) 2011 Slim Fairview
You can't lead if you can't manage. And the EuroCrats CANNOT manage.
One reason the EuroCrats fail is because no one has confidence in anyone. Why would they?
Why would anyone feel confident in the EuroCrats, Merkel at the fore, who have devised a plan, implemented the plan, and presided gallantly over the plan that has perpetuated the decline?
Who, really, has confidence in Angela Merkel? Who? Why? Answer: Because she is rich.
Here is the folksy analogy.
Hey, everyone, Rich Aunt Angela is coming to dinner. Let's spend more than we can afford and eat less than we need, to curry favour with the Rich Aunt who criticises us for wasting money on frivolity and not eating well.
You cannot cut wages, fire people, raise property taxes and call it a solution.
You cannot approve a bailout on the assumption of growth in Greece, then impose sanctions to punish Greece because your assumptions were wrong and call yourself a leader. You are not a leader. And you certainly are not a manager. You are a failure. A failure.
Reduce the number of attendees.
Stop sitting in a circle behind flags.
Face the blackboard.
Don't ask questions.
Through question and answer, quest 4 the truth.
Eliminate known failures.
Seek not consensus--seek acknowledgement.
To lift a line from our Founding Fathers: "We hold these truths to be self-evident."
"It may be a Universal Condition: We refuse to acknowledge that all alliances and enmities are transitory." The Quotations of Slim Fairview. However, The EuroCrats must accept that the Zero-Sum Game is no longer viable. That is the nexus of my ppt. presentation "The Future of the G 20 in Good Times and Bad." If you watch Cannes, however, you will see my prediction come true. Nothing will come out of it.
I had had hopes when I read the statement by Wolfgang Schauble adding two more elements to the EuroPlan.
Provisions for Economic Development. (Growth)
Management of the EuroUnion.
It seems neither will come about any time soon. In other words, why bother making the effort to put the umlaut (รค) when writing his name when he will prove to be as big a disappointment as Chancellor Merkel?
It is time for Angela Merkel to step down or for the Germany to leave the EuroUnion.
Bon Chance.
Slim
slimfairview@yahoo.com
Copyright (c) 2011 Slim Fairview
Thursday, September 22, 2011
EuroCrats: It is Our Policy to Fail
The handling or mishandling of the debt crisis by the EuroCrats proves one thing. The Process is the Problem.
From the IMF we learn that the set of policy choices that are economically viable and politically feasible is shrinking. That is a bold admission.
Further, the IMF acknowledges the market’s negative response but chooses to stay the course. This is wrong.
Still, the bold admission is a good thing. Oftentimes people don’t take bold action until a crisis is impending. Bureaucrats never do.
Now with Belgium, Italy, and Spain heading toward a crisis, why embrace a proven Policy of Failure? One glaring point: A cash infusion into banks that suffered losses due to the debt crisis will only cause the banks to continue to lose what others infuse.
Meanwhile, there is a call for taxpayers to bolster…..! Any call for taxpayers to bolster anything is a lose—lose situation.
If the plan fails, the crisis deepens.
If the plan succeeds, those who pay for the success of others will harbour a deep resentment. If you don’t believe me: Parliament Hampers Merkel Deal Making.
EuroBanks stand to lose €630 Billion. Banks are starting to not trust each other or lend to each other. That is not a good sign either.
The IMF goes on to say that the Global Credit Crisis moved into the Political Phase. Therein lies the punishment for using political considerations to solve the problem in the first place.
Greece and Europe suffer from problems of Austere Proportions.
As I previously stated, “Analysts conceded a €110 Billion bailout for Greece on the assumption that the Greek economy would grow. Then, they called for sanctions to punish Greece because their assumptions were wrong.”
The austerity measures to be imposed by (upon) Greece include a move to reduce public employment.
“There are no unintended consequences, only unwanted consequences.” –Slim Fairview
Such a move will
Reduce tax revenue.
Strain the social safety net,
Negatively impact the multiplier effect; if there is one.
[ http://www.slideshare.net/slimfairview/the-multiplier-effect-4962273 ]
Greece may consider some alternatives
Sell state owned assets [to Greek citizens].
Seek Foreign Investors instead of Foreign Lenders. [Asia. Brazil]
Encourage, promote, and support, entrepreneurship for the Greek people.
The Nanny-State mentality in Europe has less to do with benefits and more to do with business. It is easy for a society to become complacent if the jobs are already there whether provided by Big Government or by Big Business. SMEs provide jobs, growth, economic stimulus, and prosperity. Don’t believe me? The headline in the NY Times reads: India Nurtures Entrepreneurship.
Economic Stimulus by Metaphor
http://slimviews.blogspot.com/2011/06/economic-stimulus-by-metaphor.html
Greece can also follow my prescription for the American housing crisis. Only they may wish to expand upon it—tailor it to Greek needs.
Stop Foreclosures
Rewrite Loans at a lower payment rate
Add a balloon payment. [2018, 2019, 2020]
Will all this work?
Did your efforts fail?
The EuroCrats are Intelligent, Educated, and Experienced.
Q: Why the failure?
A: The Process
The meeting of the minds emphasises consensus. The EuroCrats do not need consensus. The EuroCrats need acknowledgement.
“The fact that you cannot predict the future is not a proper rebuff to the one who tells you to get off the tracks a train is coming.” –Slim Fairview
Sincerest regards,
Slim
Copyright © 2011 Slim Fairview
From the IMF we learn that the set of policy choices that are economically viable and politically feasible is shrinking. That is a bold admission.
Further, the IMF acknowledges the market’s negative response but chooses to stay the course. This is wrong.
Still, the bold admission is a good thing. Oftentimes people don’t take bold action until a crisis is impending. Bureaucrats never do.
Now with Belgium, Italy, and Spain heading toward a crisis, why embrace a proven Policy of Failure? One glaring point: A cash infusion into banks that suffered losses due to the debt crisis will only cause the banks to continue to lose what others infuse.
Meanwhile, there is a call for taxpayers to bolster…..! Any call for taxpayers to bolster anything is a lose—lose situation.
If the plan fails, the crisis deepens.
If the plan succeeds, those who pay for the success of others will harbour a deep resentment. If you don’t believe me: Parliament Hampers Merkel Deal Making.
EuroBanks stand to lose €630 Billion. Banks are starting to not trust each other or lend to each other. That is not a good sign either.
The IMF goes on to say that the Global Credit Crisis moved into the Political Phase. Therein lies the punishment for using political considerations to solve the problem in the first place.
Greece and Europe suffer from problems of Austere Proportions.
As I previously stated, “Analysts conceded a €110 Billion bailout for Greece on the assumption that the Greek economy would grow. Then, they called for sanctions to punish Greece because their assumptions were wrong.”
The austerity measures to be imposed by (upon) Greece include a move to reduce public employment.
“There are no unintended consequences, only unwanted consequences.” –Slim Fairview
Such a move will
Reduce tax revenue.
Strain the social safety net,
Negatively impact the multiplier effect; if there is one.
[ http://www.slideshare.net/slimfairview/the-multiplier-effect-4962273 ]
Greece may consider some alternatives
Sell state owned assets [to Greek citizens].
Seek Foreign Investors instead of Foreign Lenders. [Asia. Brazil]
Encourage, promote, and support, entrepreneurship for the Greek people.
The Nanny-State mentality in Europe has less to do with benefits and more to do with business. It is easy for a society to become complacent if the jobs are already there whether provided by Big Government or by Big Business. SMEs provide jobs, growth, economic stimulus, and prosperity. Don’t believe me? The headline in the NY Times reads: India Nurtures Entrepreneurship.
Economic Stimulus by Metaphor
http://slimviews.blogspot.com/2011/06/economic-stimulus-by-metaphor.html
Greece can also follow my prescription for the American housing crisis. Only they may wish to expand upon it—tailor it to Greek needs.
Stop Foreclosures
Rewrite Loans at a lower payment rate
Add a balloon payment. [2018, 2019, 2020]
Will all this work?
Did your efforts fail?
The EuroCrats are Intelligent, Educated, and Experienced.
Q: Why the failure?
A: The Process
The meeting of the minds emphasises consensus. The EuroCrats do not need consensus. The EuroCrats need acknowledgement.
“The fact that you cannot predict the future is not a proper rebuff to the one who tells you to get off the tracks a train is coming.” –Slim Fairview
Sincerest regards,
Slim
Copyright © 2011 Slim Fairview
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