Realcent.org

So wait, wait, wait...Smyth recommends that the ECB print money like the Fed in 2008. (I hear "We're gonna party like it's 1999" by the artist formerly known as Prince playing in the background as he says those words.) The only problem with that is 2008 is now history. Enough time has gone by and we can see the results. To borrow a phrase that frequently came out of Obama's mouth (though less convincingly recently) the bailouts are a "failed policy of the past". They didn't work. They propped up fiat, not real wealth. They more severely indebted an already heavily-indebted country.

But Smyth redeems himself by saying "yes" to recession in Europe. The truth he speaks.

Jeff Macke, the pitbull, has the right look, don't you think?

IF ECB could/would print money without approval from many nations, they would be able to kick the can down the road several more years, just like the US did. However, at this point, I tend to think Germary is sick of this. They are in more trouble than the US, but they are the HEALTHIEST country in the EU. They are the BEST of the lot, and everyone else in the Eurozone is behind, or way behind, or toast already. Frankly if I were the Germans I would be spending my time trying to figure out how to get out of this and let the troubles be owned by the people that caused the problems. Unfortunately, if I'm German, I also am sensitive to the fact that this could lead to massive unrest and even civil war in large countries that are geographically very near me. Unlike the past, when the Germans would have been prone to walking in and taking over, I think now they want nothing to do with them. What a dilemma! It's like watching a train wreck. I'm fascinated, but with horror! I can hardly keep my eyes off of it, yet I want to also look away knowing the pain and suffering about to result.

That's it. A slow moving train wreck. This situation also makes me wonder if the Soviets are feeling like now is a good time to be expansionist again.