Sunday, 10 June 2012

SUNDAY HUMOUR: The anatomy of economic rescue

It’s a hard to know if the regular cycle of “rescue plans” for US and Europe involving oodles of newly-minted money is cause for mirth or misery—is it comedy or tragedy? Still, this simple diagram at least makes the cycle clearer:

image

Expect the process to continue until either the money or voter’s patience and credulity run out.

[Hat tip Zero Hedge: “Friday Humor: Eurogroup Meeting Preview Redux”]

5 comments:

  1. hahahaha... and here's ANOTHER bit of humour - this from the BBC:

    "BBC News - ‎1 hour ago‎
    Spain's decision to request a loan of up to 100bn euros ($125bn; £80bn) from eurozone funds to help shore up its struggling banks has won broad support."

    Crazyyyyy!

    Dave Mann

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  2. the drunken watchman10 Jun 2012, 22:01:00

    we're waiting.... :)

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  3. the drunken watchman10 Jun 2012, 22:03:00

    ....the question is, should we hold our breath?

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  4. I thought the current Euro process was:
    Deny, deny, crisis summit, deny, crisis summit, deny, crisis summit, deny, deny, (taxpayer backed bail-out), BLAME THE MARKETS, deny, crisis summit, deny, crisis summit, deny, crisis summit, deny, deny, (taxpayer backed bail-out), BLAME THE EUROSCEPTICS/USA/BRITS/GERMANS/GREEKS/ETC, deny...repeat cycle.

    Diogenes

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  5. 34 36I'm currently in Europe [Queens Park, London]. It's raining outside, but I don't see a problem requiring economic rescue. Barclays share price is far from zero so it's not the banks needing rescue. I'm hoping to buy Barclays Bank for a dollar but so far, no luck.

    Apparently taxes are not enough now to pay the huge salaries for hordes of government workers, so they are looking for a rescue. But the taxpayers are so embattled that more can't be extracted from them. That's easily fixed. Halve the pay and pensions of the government employees and see how many quit to get a better job. Also, cut benefits to immigrant bludgers.

    I'm keen to buy a house as a holiday residence, but a million pounds gets a thin slice of a huge row of terraced houses. I could get half a dozen flash houses [by comparison] at Papamoa for the same price. If it was all that desperate, house prices would be cheaper than Papamoa, not 10 times as expensive.

    Hordes of people are crowding in, not escaping to Africa, south Asia, south America, Russia, China and other great places, so it can't be all that bad here.

    I'd like to buy a holiday home in Spain or the south of France too. Maybe they are more reasonably priced.

    It seems that the main problem is that various people want to continue living beyond their means in the manner to which they have become accustomed. As Margaret Thatcher and others have pointed out, eventually socialists run out of opm. That time has arrived.

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