Uh-Oh!

Random Ramblings
1
President Barack Obama spoke by phone with German Chancellor Angela Merkel for the second time in three days, adding to the international pressure Europe has faced since a hurriedly arranged conference call of Group of Seven finance chiefs on May 7. Obama yesterday emphasized “the importance of the members of the European Union taking resolute steps to build confidence in the markets,” White House spokesman Bill Burton told reporters in Hampton, Virginia.

It’s all manipulation! Instead of “building confidence in markets” with a bunch of money printed out of thin air, how about actually fixing the problem of too much debt? How about SLASHING entitlements? How about cutting bloated socialist programs? How about living within your means? A novel idea, I know, but it’s something that would actually work.

Here’s the entire article:

http://www.bloomberg.com/apps/news?pid=20601087&sid=aNvRfcFRIgsU

Kind of reminds me of the panic from the bust in this country.

2

Newsflash for this morning - US stock futures up big (DOW futures up 381) because of this HUGE $1 Trillion Dollar Bailout! Of course, this bailout DOESN’T FIX ANYTHING! It’s just more of the same - throwing HUGE amounts of imaginary borrowed money at the problem of over-spending. Spending more to correct the problem of over-spending! RIDICULOUS!

3

Yeah, it really is just a bandaid on a ruptured carotid artery with the world economy bleeding out. Bad enough we have crazy issues over here, now Europe too. This will NOT end well.

Mike, I wasn’t too much with the collapse theory, but with Europe teetering, we might be headed for GLOBAL collapse, not just us here…house of cards.