Taxpayers are in debt because of their stupid Governments! Brown admits to "socialising the liabilities."

The problem I have with what's going on is that to ultimately save the Eurozone, it's taxpayers that will foot the bill. This has been the whole injustice all along. If anyone thinks that's dramatic, then look at what Gordon Brown just said at the World Economic forum. He stated that in his view this is still a banking crisis at its root, but if it has become a debt crisis it's because "we socialised the liabilities" - Let me find the full quote.........

""The European banks as a whole are grossly under-capitalised: they have liabilities far in excess of American banks. We have now got the inter-play with sovereign debt because we socialised the liabilities"

http://www.telegraph.co.uk/finance/financialcrisis/8768575/Gordon-Brown-fears-euro-crisis-worse-than-Lehman-as-1930s-beckon.html

To imply that there was no debt crisis before the banking crisis is misleading, and wholly incorrect. Brown also completely proves to us how taxpayers are paying the bill (socialising the liabilities) but now claims that is the reason for debt! What? I think the truth is closer to the idea that when you pile more sovereign debt onto countries that were already living in a debt bubble (most of the Eurozone since they believed that the € was their saviour and the end of all economic bust cycles, were offered cheap credit, and once you throw a socialist government into the mix you usually get indebted) then of course governments end up in the same mess as banks, who were only responding to lighter regulation by taking more risks.

Illegal Bailouts!

There you have it! Even the Bundesbank know that the EU bail outs are illegal, and are simply a way to bring debt union (fiscal union) in through the back door!

http://www.telegraph.co.uk/finance/financialcrisis/8716783/Bundesbank-questions-legality-of-EU-bail-outs.html

Economic Government might have just finally arrived

So, I’m sitting here watching Sky News Live, and they’ve only just switched to the Euro Summit (or better said Franco-German summit to save the Euro) in Paris, as the news conference currently goes on. Breaking news it seems – “Merkozy” (coined this word from what I saw in today’s Telegraph) seems to have decided that the solution to the euro’s woes are “collective government for the Eurozone led by the EU President.”

So there you have it. The EU President comes into office in grandiose style post-Lisbon, with supposedly lots to do but in reality very little other than chair a few meetings a year, has a power struggle with the Commission but loses, so he needs something to do to legitimise his position. I seem to remember him shortly after taking office speaking about “economic government for Europe” and the furious reaction that his statement created.

Look at these links: http://www.independent.co.uk/news/world/europe/eu-presidents-secret-bid-for-economic-power-1894549.html and http://www.eubusiness.com/news-eu/summit-economy.2l4 - couldn't get it more from the horse's mouth than through EU Business.

But if instead you're interested to know how an economic government might be run, just take a look at what the head of the Eurogroup said back in April - http://euobserver.com/19/32222

So, here we are, a few steps down the crisis line, and wow, suddenly the solution seems to be precisely what the EU President proposed, because he now has something to do by being put in charge of it. Sounds like an outcome that was pre-determined to me (I just don’t trust the way some of these Eurocrats think, and yes, Presidents and Chancellors of sovereign countries are just part of the Eurocrat machine) and it was just a case of finding the right “opportunity” to bring the idea in. What better time than when the crisis really is at the end of the line, and enough panic has been created, and the markets are jittery? Anything can be forced through in the name of economic stability, regardless of political consequence.

I’m upset with Sky News and the BBC – both are just reporting it as a moving ticker underneath their broadcasts – and carrying on reporting other events like it is not important. Sky claims its source as the Associated Press but I can’t even find an article yet on their front page either. It really is amazing how the UK press is completely under control – I trust economists’ blogs now more than news reports.

Political union is well and truly alive, and whereas economics were cast aside before in the name of political union, now it is the mechanism by which political union will be achieved. I suppose that all you had to do was to create the economic crisis by forcing the creation of a single currency for political purposes, ignoring all the economic advice, and then when that advice turned out to be right, suddenly you could focus your attention on the economic problems and advance your political agenda through them. What a con – and everyone is in on it.

Notes

1) Even David Cameron knew the economic government idea was coming: http://www.euractiv.com/en/priorities/Britain-wins-opt-out-on-economic-government-news-495370)

2) 10 minutes later....Some news articles just being posted to the net: http://www.newser.com/article/d9p59i2g0/merkel-sarkozy-propose-eurozone-economic-government-amid-debt-crisis.html

3) Anyone for a secret debate? http://euobserver.com/19/32222 It's precisely because of this way of thinking, which pervades the EU to its inner core, that I cannot support the European project.

There's your EU

Love the way too that a German court now has the right to ban sales of Samsung's new tablet throughout the EU (except the Netherlands) Did anyone notice? And there you have it - I don't want to digress from the issue of this board but a German court in Dussledorf has now decided British law as to the sale of a product. The EU doesn't even bother transferring the obligation to enact the same law to the British legal machine, to give the EU credibility and legitimacy - they just do it from another country, and we comply. There's your EU.

50% hike in British rail fares? Thanks EU!

Below is the comment I made on the following Facebook post, from the EU Referendum Campaign:

https://www.facebook.com/eu.campaign/posts/124688387627241

Comment:

There are some really interesting comments being made here, and it makes a change to see a intellectual discussion that doesn't descend into name-calling, as can so often happen to comment threads of newspaper articles. I would like to state that BR was just another tragic case of an industry (and jobs) being destroyed because of EU rules, and let's not even mention the most criminal of policies - fisheries, and what it has done to the UK. I stand in agreement with the points that the destruction of our trade links with the Commonwealth was the prerequisite of entry (as was the subsequent domination of France in agriculture, because it suddenly became cheaper to buy from France than import from the Commonwealth) but that was always part of the plan. The beauty of it is that the French built their dominance on the back of subsidies AND by having the rest of Europe as their customers, not out of choice but because high tariffs made everywhere else expensive! Neat trick. I also agree wholeheartedly with the same-old European attitude, in particular France (and other countries) where they constantly disregard the rules without fear of consequence. In turn, they then abuse the law-abiding UK as they fearlessly buy up our companies. (Surprised EDF wasn't mentioned - remember when they charged us more to subsidise cheaper bills in France?) It's not protectionism I support, but a fair playing field - and that just doesn't exist! As I always tell my students, just try to buy a French supermarket or bank, and let's see what happens! Would love Tesco to go to France and sell apples from New Zealand or South Africa more cheaply than French ones! In conclusion, if the EU can't get it right economically, and then we consider the fact that politically it is corrupt and void of democracy, the case is getting stronger by the day to leave and reestablish our relationship with those countries that DO choose to be part of the EU, as people finally realise the Brussels effect on their lives. For years I've seen the way things were going, as I'm sure many of you have - and if someone would pay me to write about the EU I gladly would(!) but I leave you with a lovely link from yesterday's papers - pay attention to what the Italian Prime Minister is reported to have said. Thanks for reading.http://www.telegraph.co.uk​/finance/comment/ambroseev​ans_pritchard/8700782/ECB-​is-eurolands-last-hope-as-​bail-out-machinery-fails-t​o-resolve-crisis.html

England 1 – Germany 4

My official response to the match:

I will begin by quoting Andy Murray, when asked about the match at half-time:

'I would like to see England win, but Germany did look pretty good. But you never know in a knockout. England have got the players to win the match but they just need to play well.'

He's absolutely right. But we just didn't play as well as we could have done. I agree with the pre-match analysis that man for man, the English team is better, but when on a field under pressure the team cohesion just did not come through. The Germans were well coordinated and had options. I also completely agree with the post-match analysis that we were weak on defence - the worst defence ever known! The Germans shall receive credit for a convincing win, as I would expect the same if the positions were reversed.

The only factor I think that needs to remain in consideration is that if it wasn't for the disallowed goal that would have equalised the score before half-time (and it WAS a goal; nobody in their right mind could say it wasn't) then I think our team spirit and hope, and MOTIVATION would have carried us into the second-half with an optimism that could have improved our chances.

Instead I believe that the anger over the disallowed goal affected the team's performance and clouded our judgement. It's like one of the commentators here said during the break "If we allow anger to enter the field we are going to make bad decisions in the second half" - and we did make awful decisions. However, although important that this point remains in consideration, the Germans played very well and we must be fair and give credit where it is due.

To close, I am in a fortunate position tonight in contrast to other England fans because I can now turn my hopes and attention to my second country Mexico this evening. For me it's not all over yet! Good luck Mexico!

Election Fever!!

The countdown has begun!  One more month and change is upon us – I’m optimistic, but also realistic.  But one step at a time.  I’ll be blogging my ideas and thoughts here and on my now-used Twitter account, so I can’t wait to see what happens.

I wrote a funny Twitter post too today, that I think I’m going to turn into a mini series of small poetic lines to summarise the general British mood at this precise time that has now dawned upon us in the eagerly-awaited political calendar.

 

So here goes a new small collection:

Reflection 1

Brown the Clown
Soon out of town (to Brussels?)
Give us our liberties back
And stay schtum on your backbench
No Lord Broon for you
Mr Clown

Reflection 2

Gordon Brown
Oh, what a clown!
Debt goes up, and..
Wealth goes down.
And just where is the gold….
At the end of Gord’s red-brick rainbow?

 

Reflection 3

Nick Clegg…let’s break a leg
And get out a chequebook or two
Liberal, yeah sure,
But not at the core
Where tax and spend prevails.
So, off to the EU you go, where for sure
You’ll find some friends
Socialists, socialists and more.

Reflection 4

Labour, Labour, do me a favour,
And let me speak my mind,
Let me take photos,
Of all those potholes,
That you’ve left in my life.
Freedom, freedom shall come to me,
From the clear blue sky.

Reflection 5

Lisbon Treaty,
Just what I wanted,
On that cold December night.
All undercover,
Without much of a flutter,
Was the deed done,
That might change us forever.
Deception, deception,
Cowardice, cowardice,
Plain for all to see.
And not just the eyes of a bat,
Saw that dreadful pact,
But too the eyes of elephants,
Who shall never forget.