Sunday, 11 September 2011

Its Your Fault

You can't make this stuff up.

As the shit hits the fan in Europe and its now widely accepted that Greece is cactus and G7 finance minister's gather to work out another ridiculous can kicking strategy.

America's financial officialdom [you  know, those folk that oversaw the development of the Credit Default Swap so folks/nations/any entity that shouldn't be lent money now could be allowed access to the cash trough (Greece, Sub-prime et al)] is now blaming Europe for the world's woes.

The star spangled nation whose own fiscal position rivals that of Greece, and, who has states that rival Zimbabwe in financial position, is now pointing fingers.

Eurozone blamed by US for world's economic plight

"Seventy-five per cent of the dark things happening in the world economy are because of the euro zone," said a senior US official after a round of talks ended in the early hours of yesterday morning.

Really? Last months US debt crisis never happened (BTW that debt ceiling has been breached).

And, from the crown prince of econowankers...

"It was the principal cause of the slowdown we had last summer, and it's been a significant cause of the slowdown we've had this summer," said Timothy Geithner, the US Treasury Secretary.

Repeat after me. The US DOES NOT have $14.7Trillion in national debt (100% of GDP) and it DOES NOT have $115Trillion in unfunded liabilities. The US DID NOT have a house price crash that has wrecked its economy from bubble that the Fed DID NOT create, nor does it have 15%+ real unemployment, nor does it engage in currency debasement.

This is NOT real: US Debt Clock

Like I said, you can't make this shit up.

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