Tuesday, November 29, 2011

Hollow Promises From Obama

When President Obama promises to help Europeans remain reliable it does sound rather hollow, especially given the downrating of US economy in general. Everyone understands we are in a recession, but it was induced by financiers who were a bit too soft in their turning down mortgages to people who couldn't actually afford to get their loans in the first place. The so-called subprime lending scandals.

Similarly, the European Union introduced NUMEROUS countries into the Euro system that were obviously less than worthy to be introduced to the system. They didn't comply with the financial requirements to begin with, so how could it ever be a mystery that they can't fulfill the Euro goals today?

It seems like the blind leading the blind. The perspectives are FUNDAMENTALLY erroneous, yet noone dares to challenge the status quo. So the comedy continues...

But then, again, it would require firsthand knowledge of both European geography and history to see through the many asides made by European politicians from the ACTUAL problems involved to get the full perspective. :-)

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