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Saturday, 12 July 2014

Is Germany going to leave the Euro, is the US headed for 3rd world status?

One outstanding prediction from the Golden Jackass is that Germany will be the nation to leave the Euro and will turn East, this prediction was made several months ago but we are finally beginning to see the signs.
Is the Treaty of Rome headed for failure?
The European Central Bank's interest rates are too low for Germany, Bundesbank chief Jens Weidmann said on Saturday, adding that ECB monetary policy should remain expansive for no longer than absolutely necessary. 
"It is clear that monetary policy, when seen from a German viewpoint, is too expansive for Germany, too loose," Weidmann told a crowd at the start of the open day. "If we pursued our own monetary policy, which we don't, it would look different." 
Bundesbank Vice President Claudia Buch said property prices were overvalued in some big city areas in Germany by up to 20-25 percent. (Reuters)
Germany a nation of prudence which has lived though a period of hyper inflation (just on the edge of living memory) is not one for spending more than it earns but financial difficulties are beginning to appear.
The proportion of German municipalities without a balanced budget rose to 34%. (deutsche-wirtschafts-nachrichten)
The US assault on its European "Allies" commenced with France turning its back on the US which only made the US start on Germany. The US is now isolated with only the UK (who have already begun courting Russian and China with a refusal to join in an assault on Syria) still an erstwhile ally. How strong a link a common(ish) language proves to be remains to be seen.

The Jackass' prediction of a 3rd World United States seems well on course