By John Galt
December 4, 2011 – 21:25 ET
And from tonight’s edition of doom from Ambrose Evans-Pritchard and the U.K. Telegraph:
Fiskalunion is worst of all worlds for Europe
All one needs to know from the article, which everyone should read:
Historians can only smile, or weep. Germany is unwittingly doing to Spain exactly what America did to Weimar Germany after flooding the country with cheap capital in the late 1920s. When Wall Street cut off funds and ended the credit boom, Germany collapsed.
There was a chorus of self-righteous pedants in Hooverite America who turned this into a question of cultural ethics, reproaching the Germans for lack of discipline and failing to work hard enough. Sound familiar?
Ding.
We have a winner.
Welcome to the re-collapse of the world thanks to the insanity of the Franco-Germanic central bankster financial alliance. Read it and weep.
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