Europe is mad at us.
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  1. #1
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    Europe is mad at us.

    Refusal to join bailout leaves Canada, U.S. as only countries in G20 not committed to IMF fund

    Germany is expressing its irritation with Canada for refusing to contribute to an international bailout fund as Prime Minister Stephen Harper faces increased pressure from the G20 to show "solidarity" with countries tackling Europe's financial crisis.

    Canada is on track to be one of two G20 nations not offering a specific amount to the International Monetary Fund as it tries to raise at least $430-billion to draw on in case any members need a financial rescue.

    Almost all G20 members - with the exception of Canada and the United States - have said they will announce specific pledges in Los Cabos, and some amounts have been reported already. Japan, for instance, is expected to offer $60-billion, Saudi Arabia $15-billion and Australia $7-billion.

    Germany, the strongest economy in the EU, is expressing concern over Canada's repeated assertions that its taxpayers should not "bail out" Europe.

    In an interview with The Globe and Mail, Germany's ambassador to Canada, Georg Witschel, said Canada should realize that the entire global economy will be at risk if the European economy falters.
    http://aol.theglobeandmail.com/servl...G20ECON0608ATL

    So are we risking the global economy by not contributing?
    Never argue with a fool, onlookers may not be able to tell the difference. —Mark Twain

  2. #2
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    This specific bail-out, as I understand it, is plain and simple a reward for irresponsible actions by certain parties in the world.

    The USA nor Canada started this new way of living but we have also bought into this lifestyle.

    The new moral world we live in dictates that anyone, anywhere can live and do whatever they want to the extent that it makes them "feel" good at other expenses.

    And "we", the others, are suppose to ........not only suppose to but we are expected to run to their aid at our expense to further justify their childiness and irresponsibility.

    A recent example of how this works and how foolish I am. A local church that is obama based - using the only term that seems to fit - did not take care of their pneumatic controls as I have told them to do for the past 15 years. They simply never drained the air compressor storage tank as I have directed them to do over that period of time.

    The week before Easter I received a call that water was squirting out of everywhere, including the wall thermostats. The entire system is now contaminated with water.

    So they call me to solve their irresponsible problems at my cost. A good deal of their members are unemployed due to obama. And a good deal of their budget is gone for repairs as not many have the money to give to the church. But they need help from a person who has to work every day based on responsibility of making at least more then I spend.

    So I, the responsible one, worked about 30 hours in draining, repairing and/or replacing the controls and lines. I got most of the water out but the controls will continue to fail because of the contamination.

    They don't have the money to pay for their irresponsibility. And they continue to support the policies that Europe and obama preach and act on. But who footed the majority of the bill?

    Yep, I did. Now we are being asked to foot the bill for those who want to continue on with their childess and irresponsible way of life.

    No lesson will be learned. And no penality will be lived with for them so they will continue to take us all down with them.
    "The American Republic will endure until the day Congress discovers it can bribe the public with the public's own money.
    - Alexis de Toqueville, 1835

  3. #3
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    Quote Originally Posted by printer2 View Post
    http://aol.theglobeandmail.com/servl...G20ECON0608ATL

    So are we risking the global economy by not contributing?
    The assumption that another hundred billion or 500 billion will ever make the socialist experiment successful is just naive.

    It's kicking the can down the road and not dealing with the issue by letting the IMF bail out Countries that refuse austerity

    Greece's failure should be held up as an example to the rest of the world of the effects of statism and how a centralized government that overpowers and over tax's it's private sector should at all cost be avoided.

    Sure there is Spain, Italy and Ireland but read up on some of the benefits the state workers of greece enjoyed before that house of cards collapsed.

  4. #4
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    I heard an accurate expersion on the radio yesterday about these events.

    "They are running out of other peoples money to maintain their lifestyle."

    Sounds about right to me.
    "The American Republic will endure until the day Congress discovers it can bribe the public with the public's own money.
    - Alexis de Toqueville, 1835

  5. #5
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    The social experiment seems to work in Germany but then again they have the income to pay for it. The problem was that they had too much money which they lent to the lesser economies without enough diligence on the ability to pay back. The Mediterranean countries (mainly) used the money to support their economies but did not put enough effort to make them efficient.

    Which is all water under the bridge. There is talk now that if Europe implodes that the downturn we went through and are just starting to get out of will look like a walk in the park. This could sideswipe us even though we are half way across the world. It is very concerning.
    Never argue with a fool, onlookers may not be able to tell the difference. —Mark Twain

  6. #6
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    Quote Originally Posted by printer2 View Post
    The social experiment seems to work in Germany but then again they have the income to pay for it. The problem was that they had too much money which they lent to the lesser economies without enough diligence on the ability to pay back. The Mediterranean countries (mainly) used the money to support their economies but did not put enough effort to make them efficient.

    Which is all water under the bridge. There is talk now that if Europe implodes that the downturn we went through and are just starting to get out of will look like a walk in the park. This could sideswipe us even though we are half way across the world. It is very concerning.
    I totally agree. I think the worst is in front of us. And I think we will not see it coming.

    BTW, the last Salsa cruise I was on had three ladies from Germany. They told me that things were not so good financially in Germany and that we Americans did not realize how really bad things were there financially.

    Their history tends to warn them of the rich getting richer and taking over control over the citizens that are left. That is what happened to Germany during Hitler and they said they are afraid of any signs of that happening again..except they never used the word Hitler. I think that is verboten for them psychological.
    "The American Republic will endure until the day Congress discovers it can bribe the public with the public's own money.
    - Alexis de Toqueville, 1835

  7. #7
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    I stopped giving a damn about what Europe thinks a long time ago.

  8. #8
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    Make my children go into even more debt than they can ever pay, for some lazy Greek?
    I don't think so!
    We get 2 weeks vacation a year and retire at 67 or so.
    They get 6 or 8 weeks vacation and retire at 55 or so.
    I don't feel so charitable to lazy sloths.

  9. #9
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    Quote Originally Posted by oil lp man View Post
    Make my children go into even more debt than they can ever pay, for some lazy Greek?
    I don't think so!
    We get 2 weeks vacation a year and retire at 67 or so.
    They get 6 or 8 weeks vacation and retire at 55 or so.
    I don't feel so charitable to lazy sloths.
    When I was younger I had the body of a Greek god, now I have the body of a goddamn Greek.



    I am not too concerned about their lifestyle taking a drop. I am concerned when they start having to consume less which reduces the world economy and sends a whole lot of us out of work.
    Never argue with a fool, onlookers may not be able to tell the difference. —Mark Twain

  10. #10
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    Quote Originally Posted by printer2 View Post
    The social experiment seems to work in Germany but then again they have the income to pay for it. The problem was that they had too much money which they lent to the lesser economies without enough diligence on the ability to pay back. The Mediterranean countries (mainly) used the money to support their economies but did not put enough effort to make them efficient.

    Which is all water under the bridge. There is talk now that if Europe implodes that the downturn we went through and are just starting to get out of will look like a walk in the park. This could sideswipe us even though we are half way across the world. It is very concerning.
    Ask a German how well their experiment is working.

    I think their income taxes top out around 50 % and they have a sales tax AND a VAT tax. Add to that enormous taxs on energy and fuel.

    Gas is about 8 bucks a gallon. And depending on your income you could be forking over 75% of every dollar to the government.

    Doesnt sound like its working to me.

    Also do you know what their corporate tax is ? 15%

    Ours is 35%

  11. #11
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    Quote Originally Posted by commtech77 View Post
    Ask a German how well their experiment is working.

    I think their income taxes top out around 50 % and they have a sales tax AND a VAT tax. Add to that enormous taxs on energy and fuel.

    Gas is about 8 bucks a gallon. And depending on your income you could be forking over 75% of every dollar to the government.

    Doesnt sound like its working to me.

    Also do you know what their corporate tax is ? 15%

    Ours is 35%
    That's what these ladies were talking about but they did talk as if that was normal. But they did not or do not have any of the opportunities we have here. And I asked one of them how in the world they make a living with most of their money being taken away from them.

    I think Europeans have never experienced our countries ability to create opportunites for ourselves and our communities. They seem to have an attitude that what they get is the best they can do.
    "The American Republic will endure until the day Congress discovers it can bribe the public with the public's own money.
    - Alexis de Toqueville, 1835

  12. #12
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    Its generations of compliance to the only system they've known. Whats left is systemic complacency.

    The 2008 crash was far worse than a lot of people realize. Its effects and consequences were global. We were literally days away from absolute economic collapse with banks all over the world ready to declare massive losses on the same day.

    I read an article that taljed about instituting martial law that following monday after the crash in America.

    I guess if you're forced to look on the bright side the one thing it accomplished was to expose corrupt socialist governments like Greece.

    It exposed the ultimate economic fallacy of socialist systems.

    Countries that borrowed and spent to excess couldn't be saved but now all of those Greek Bonds sitting in banks all over the world are threatening any kind of recovery.

    Now we're left with a President who wants to repeat their bad example. 5 trillion in 4 years.

    A suspicious person might wonder if Obamas goal all along was to do irrepairable harm to our economic system.

  13. #13
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    If Europe is truly mad at us, goodness I'm sorry. Tell 'em to go pound sand. Why do I give a spit.
    Tough times don't last...Tough people do.

    Midnight Sun Astrophotography

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