Showing posts with label Austerity. Show all posts
Showing posts with label Austerity. Show all posts

Wednesday, February 7, 2018

Merkel Caves! Slim Wins!




For nearly eight full years, the blogger known as Slim Fairview has inveighed
against austerity with the celerity of a honey badger.  
Scores of articles have been written, and thousands of tweets have sent links to
the articles to thousands of readers around Europe and the world.  
From Grexit to Brexit and beyond the articles were intended to bring about the
reforms that are  imminent.


With the forming a government, and to make that government possible,
The Chancellor caved and handed over the keys to the
Foreign and the Finance Ministries to the opposition party.

Some of the article links listed below.

This is Brexit 15 June 2016
GreekEnomics 8 June 2015
{The only real value to this article is the number of links to articles regarding Merkel and Europe)
Merkel's Big Lies? 2 May 2014
Greek Proposal 8 July 2015
Merkel and Charybdis 22 June 2015
Firewall or Farce? 27 February 2012
Brit-In Brit Out 19 February 2016
Et. al.

Warmest regards,
Slim.

Copyright (c) 2018  Bob Asken  All Rights reserved.



Tuesday, August 30, 2016

EU Taxes Patience



Congratulations:  

The EU ruling on Apple’s Taxes and Ireland is not about Apple or taxes or Ireland.

  • The EU, first of all,  is shedding light the suffering of a nation that capitulated to the fait-accompli issued by the Eurocrats.  That nation is Greece.
  • The EU has just validated Brexit.
  • The EU has justified those in Ireland who would follow Britain's lead if there was good cause and if they see a pathway to a better future.
  • The EU has just campaigned for an Italian referendum to leave the EuroUnion--and supported same.

And the issue goes beyond the EU Ruling on Ireland and Apple and Taxes.


In my article, "This is Brexit", I suggested the formation of The Exit Nations.
Britain
Greece
Italy  
Portugal
Spain.  

I can now add Ireland.


Over the past six years, I have repeatedly warned that the EuroCrats’ pursuit of Austerity would lead to disaster and explained the inherent flaws in the plan.

I forecast the migrant crisis in Merkel's Big Lies?  In lies number six and seven, I specified the scapegoating and vilification of migrants and the reactionary  rise of the right. The strategies were intended to destabilise the target nation in Merkel's Economic Putsch.



My statement on Brexit was simple:  

If Merkel knows that Britain can't leave the EuroUnion, then Britain can't negotiate reforms.  

Remember, Cameron said repeatedly that he wanted Britain to remain in a reformed EuroUnion.  

He would have had a better chance of success if he'd flown to Arizona, USA to look for the Lost Dutchman Mine.  

I tweeted to Cameron, "Be Britain's next Wellington, not Britain's next Tsipras.

Britain voted to leave and Cameron showed an astounding lack of leadership by resigning.  Witness Greece.  The Greek people voted OXI.  Tsipras met with the EuroCrats, Merkel issued a fait-accompli, Tsipras folded and returned to Greece with his tail between his legs.

Years ago I said, "The problem is not that Europe can't afford Greece. The problem is Europe can't afford Germany."  And, that Greece should leave the EuroUnion.  And I spelled it out.  No one listened.  My views were validated in the recent book reviews of books by Merritt, Galbraith, & Stiglitz in the New York Times Book Review and in a discussion Steve Liesman had with a guest on Squawk Box on CNBC.  

(There is no proof that had I not been distracted by my cat, Zoe--who wanted her tummy rubbed--I would have heard what the guest had said.)

Then we have the paper written by Dr. Ken Rogoff, the purported architect of austerity.  I recently read the article about the youngster majoring in economics who tried running Dr. Rogoff's numbers through the computer and failed to duplicate Rogoff's results.   I was validated, but slow to catch a major detail.

Did Dr. Rogoff's paper go through Peer Review?  There are some who may believe:

  • If the paper did not receive peer review, the paper was worthless.
  • If the paper did receive peer review, the peer review was worthless.


Nonetheless, Austerity was a failure.  And the EuroCrats still clutch retentively to Austerity like a two-year old with his hands down his nappy fondling his own bowel movement..

In This is Brexit, the expedited manœuvre propounded to save the EuroUnion is this simple:

The leaders of the Exit Nations: Britain, Greece, Italy, Portugal, Spain, & now Ireland:

Meet

Read through "the rules"

Use a blue pencil to strike out any provision that encroaches on domestic issues and/or national sovereignty

Write up the ultimatum. Eg:

You have 15 days to agree to the demands.

If you do not agree to the demands in 15 days, we will immediately declare the provisions contained herein to be null & void, not in force, and unenforceable.  We will form our own union.


If you need historic validation, consider the Colonial Rebellion of 1776.  

There was no invoking of Rule 50.  

There was no 2-year exit process.

There was no Meeting of The Empire Nations.  

"Before you can leave the Empire, your exit must be approved unanimously by the colonies in the Empire Union: Canada, Australia, India, Hong Kong....et. al."  

Read:  This is Brexit.

This, of course, is metaphorical.  However, it explains, why you don't talk about it.  Why not?  

I explained the reason in The Unspoken Understanding.


Einstein said, "The definition of insanity is doing the same thing over and over again and expecting different results."

Slim Fairview said,  "By extension, the argument can be made that the definition of sanity is doing the same thing over and over again and expecting the same results.

Meaning?  
Europe has embraced austerity.  
All austerity measures have failed to improve the European economy.
The US embraced economic stimulus.  
The US economy improved.  
The EuroCrats should embrace a successful strategy, not cling to a failed strategy.  
Specially not one based on a paper that has purportedly been repudiated.

The frenzied declamations prior to the Brexit Vote served to affirm the validity of the Brexit vote.  The more hysterical the predictions of disaster grew, the more desperate the EuroCrats appeared.

After the Brexit vote, the face saving arrogance:  "...don't let the door hit you in the bum on the way out." made the EuroCrats look more ridiculous than they did by Britain's rebuff of the Union.

The EuroUnion can be saved. The European Economy can be improved. However, not by adhering to Merkelism: an economic paradigm based on the fear that someone, somewhere, is earning a living.

My next admonition.  

To Prime Minister Matteo Renzi:
"Be Italy's next Garibaldi, not Italy's new Berlusconi."
Before Italy holds a referendum or an election, meet with Britain, Ireland, Greece, Portugal, Spain;  Discuss the reforms; Write them up; and Issue the ultimatum.  

If the EuroCrats refuse to accept them, let the EuroCrats bear the burden of the collapse of the European Economic Union.










Best of luck.

Warmest regards,

Slim.



Copyright ©  2016  Bob Asken
All rights reserved.

Friday, April 29, 2016

Rogoff & Merkel & China, Oh, My!


Something is up.  Think back.

Sarkozy tweets, "Merkel is not the problem.
Prime Minister Biden returns from Berlin to announce The Chancellor is our friend.
& More Recently,
Madame Lagarde Praised Merkel
Merkel initiated a phone conference with President Vladimir Putin
And President Obama again praised Merkel & made a grand pitch for Britain to stay in the EU.

What is up?  I may be onto something.

Most recently, Ken Rogoff, the economist and purported architect of austerity in the EuroUnion has taken a conciliatory turn

He appeared on CNBC to say kind things about the success of our economic stimulus success.  Not so long ago, not so much.
the
I watched Dr. Rogoff on three networks: CNBC, BBC, & CNN.  And each time he said basically the same things:

Even if we go back to 2010 jibber jabber blah blah blah.  
Even if we were to wipe out Greece's entire debt...jibber jabber blah blah blah
(I apoligise for slinging around a lot of highfalutin economics jargon.)


However, when pressed by Mr. Zakaria on the success of the US stimulus programme, Dr. Rogoff made what I considered to be a sarcastic allusion to the economic travails of Puerto Rico then went back to Europe, "Even if we were to wipe out Greece's entire debt....."

I've said too often, If Britain can't leave the EuroUnion, and Merkel knows it, Britain can't bargain a fair deal.   Witness Tsipras and Greece.  My very plain understanding of the situation?  The more dramatic and hysterical the doom and gloom forecast if Britain [Greece] leaves the EuroUnion, the less substance there is to the proposition that a British Exit will be a disaster.  Hearken the the words imputed to the attorney F. Lee Bailey. "When I have the evidence, I pound the evidence; when I have the facts, I pound the facts; when I have nothing, I pound the table."

Will Cameron be Britain's next Wellington or Britain's next Tsipras?

This, in part, explains why I wrote Greek Proposal and Brit IN Brit OUT.

But more important, and not more importantly, recent comments by Carl Icahn on China reflect what I'd said repeatedly about Europe.

Austerity is a failure.  What Europe needs is Capital Investment, economic development, & growth.  In short, economic stimulus. Shorter?  Fiscal policy.  The same thing Mr Icahn said this morning 29 April on CNBC.   This, in a discussion about China.

In 2013 (2. February) I wrote China will begin a global capital investment initiative.  Today, Singapore is the top visitor to my blog two months running.  Singapore is the purported Headquarters of the AIIB.  The most read article?  Emerging Nation Economic Union.  In other words, Heads Up.

I believe the EuroUnion is about to unravel.  Not due to Britain's or Greece’s possible exit; but because of the efforts to keep them in.

Now? The Conciliatory tone taken by Ken Rogoff on CNBC.  And, of course, the alleged leak of a statement by the IMF to Merkel regarding holding Greece to the terms of austerity. This of course leads me to believe that Madame Lagarde holds the reigns of power. [sic]  Perhaps it is the romantic in me.  Ultimately, I started out in life as an English Lit Major.  But realistically, Madame Lagarde is brilliant, successful, and powerful.  And in a battle between hob-nailed boots and spike heeled shoes, Germany has never succeeded in the Hob-nailed boot approach.  Why not?  From the Quotations of Slim Fairview (c) 2016

The multitude can oppress the few, but the few cannot oppress the multitude. Not for very long, anyway.

The Chancellor, who made the cover of Time Magazine for inviting the refugees in will never make the back cover of Time Magazine for creating a crisis that resulted in the Migrants being thrown out.

China has a plan.  The AIIB is part of the plan.  Europe's embracing of the AIIB is not something I neglected to predict.  



"But don't bother listening to me. Everyone always doesn't listen to me."  The Quotations of Slim Fairview

Warmest regards,

Slim.




Copyright © 2016  Bob Asken
All rights reserved.