Ace of Spades HQ

November 26, 2010

Europe imploding [Fritzworth]
— Open Blogger

Maggie Thatcher gets quoted a lot these days: "The problem with socialism is that you eventually run out of other people's money." And even as the current administration tries to deny that reality, Europe is confronting it head-on:

Credit default swaps (CDS) measuring risk on German, French and Dutch bonds have surged over recent days, rising significantly above the levels of non-EMU states in Scandinavia.
"Germany cannot keep paying for bail-outs without going bankrupt itself," said Professor Wilhelm Hankel, of Frankfurt University. "This is frightening people. You cannot find a bank safe deposit box in Germany because every single one has already been taken and stuffed with gold and silver. It is like an underground Switzerland within our borders. People have terrible memories of 1948 and 1923 when they lost their savings."

Recognize that Germany is the most fiscally sound country in the EU -- if Germany gets shaky, all bets are off.

Posted by: Open Blogger at 05:49 AM | Comments (26)
Post contains 157 words, total size 1 kb.

1 I doubt very many in Germany have memories of 1923, really.

Posted by: Waterhouse at November 26, 2010 05:51 AM (5iNtI)

2 Loose html shit! Sweeeet. Feels like ace is here.

Posted by: Waterhouse at November 26, 2010 05:52 AM (5iNtI)

3 That's a hell of a way to start off the Xmas season. Dig deep and find us some holiday cheer we can bury our heads in for the next few weeks.

Posted by: ef at November 26, 2010 05:56 AM (gMe9c)

4 I like this new look.

Posted by: SlaveDog at November 26, 2010 05:56 AM (foEpt)

5 Recognize that Germany is the most fiscally sound country in the EU -- if Germany gets shaky, all bets are off.

All bets have been off for Europe for a while now.

Posted by: Vic at November 26, 2010 06:17 AM (e4sSD)

6 The real question is when the rest of Europe is going to realize that their debt salvation can come from invading Switzerland and seizing all the stored precious metals. All those supposedly 'neutral' hot chocolate drinking Nazi/Drug Lord/ Dictator/ financial sheltering yodelers are going to have put up a fight for once.

Posted by: Blue Falcon in Boston at November 26, 2010 06:22 AM (ijjAe)

7 Quite honestly, if Europe collapses my reaction would be, Couldn't happen to a nicer bunch of guys. Remembetr, these are the people that helped foist Obama on us. Hopefully, their end will hit just as we get a real President again.

Posted by: Bull Dyke at November 26, 2010 06:26 AM (tJjm/)

EU is going to implode... They over reached and people want their historic identities back...

And when it does implode, look for large scale expulsions of non integrated Muslem minorities.

Posted by: Romeo13 at November 26, 2010 06:29 AM (AdK6a)

9 Off sock! I'm a bull dyke trapped in a man's body...

Posted by: CoolCzech at November 26, 2010 06:30 AM (tJjm/)

10 I guess we will be bailing out Europe too. They are too big to fail.

Posted by: real joe at November 26, 2010 06:31 AM (w7Lv+)

11 ...and of course the residents of the former West will tell you that they 'bailed out' the East too.

Can we get rid of the UN while we're at it? A world-government mass-extinction event. I can get behind that...

Posted by: JEM at November 26, 2010 06:38 AM (o+SC1)

12 Romeo13 - national identities are fine as long as they stop short of, say, mass tourism in feldgrau and pickelhaubes

Posted by: JEM at November 26, 2010 06:42 AM (o+SC1)

13 I guess the price of Jagger will be going up.

Posted by: Kemp at November 26, 2010 06:42 AM (JpFM9)

14 The West Germans arguably bailed out the East Germans. They didn't do squat for the Czechs except ruin the entire 20th century for them.

Posted by: CoolCzech at November 26, 2010 06:46 AM (tJjm/)

15 At least some of the UK media sees the writing on the wall.

Posted by: AoSHQ's DarkLord© at November 26, 2010 07:03 AM (vkUBG)

16 Germany is Tired Of Being Played For Suckers http://www.practicalstate.com/?p=3574 Cheers

Posted by: Muckraker at November 26, 2010 07:15 AM (6K81O)

17 Europe is going to implode; Germany isn't in as good a shape as it appears on the outside.

Posted by: unknown jane, humanities major at November 26, 2010 07:15 AM (5/yRG)

18 Germany is in some regards responsible for its problems -- they aren't sweet, innocent, victims here. Who really pushed for this EU/euro fiasco?

Dreams of empire can really frak you up sometimes (the Germans should've figured this one out, but they didn't).

Posted by: unknown jane, humanities major at November 26, 2010 07:28 AM (5/yRG)

I want Germany and Europe to go down with Obama in office. They wanted the messiah, I want them to have him when they need him most.

And good luck with that......

Posted by: Canadian Infidel at November 26, 2010 07:56 AM (GKQDR)

I want Germany and Europe to go down with Obama in office. They wanted the messiah, I want them to have him when they need him most.

How delicious would this be? Hey, Europe, everything's cool. The Messiah is in charge, not that cowboy Bush. Your troubles are over. He'll be reading some flowery bullshit off the teleprompter as soon as Soros finishes having it written for him. That should make everything hunky-dory.

Posted by: Jay Guevara at November 26, 2010 09:17 AM (gCTFi)

21 20

18 Germany is in some regards responsible for its problems -- they aren't sweet, innocent, victims here. Who really pushed for this EU/euro fiasco?

Dreams of empire can really frak you up sometimes (the Germans should've figured this one out, but they didn't).

Posted by: unknown jane, humanities major at November 26, 2010 11:28 AM (5/yRG)

I understand that European unity was France's idea; they wanted to bind Germany to prevent a repeat of WW1 & WW2. They saw themselves as being the leaders of a United Europe.

Posted by: The inexplicable Dr. Julius Strangepork at November 26, 2010 09:42 AM (VTrAj)

22 I understand that European unity was France's idea; they wanted to bind Germany to prevent a repeat of WW1 & WW2. They saw themselves as being the leaders of a United Europe.

And Europe was dumb enough to go along. (See 'Continental System' for how it worked out the last time the French got on such a kick...)

Posted by: AoSHQ's DarkLord© at November 26, 2010 11:47 AM (vkUBG)

23 I believe it was a combined Franco-German thing; the French pitched it, and the Germans (having also not learned, oddly, to never get involved with France) went for it like a plate of White Castle sliders after a night of toking and binge drinking (with the same likely results...again).

I don't feel sorry for them one little bit.

Posted by: unknown jane, humanities major at November 26, 2010 12:05 PM (5/yRG)

24 Anybody seen this video yet of a British member of Euro Parliament ripping them a new one?

http://www.youtube.com/watch?v=Fyq7WRr_GPg

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