European Soviet Socialist Republik advances!

Germany's Uberfrau Angela Merkel and France's President Mr Carla Bruni, aka Nicolas Sarkozy,  have patched up recent differences between them so they can  continue to push for stricter budget rules designed to rescue the euro. They think they have about three months to accomplish that.

The euro has declined 1.5% since New Year's Day! This is good news for non-Europeans interested in European products. The falling euro has decreased the price of the Mercedes SLS AMG I was looking at by about $3500 since January 1.

But few Eurozoners will be able to afford it  because German largesse is about to become as rare as commonsense in a mosque and time is running out to save the whole crazy mess of the eurozone.

Yields declined last week for Spanish 10-year bonds. This means more fools were parted from their money since there was no reason for yields to decline.  Spanish unemployment is claimed, by the government,  to be 21%, so the real number must be staggeringly bad. The Spanish economy is in depression.  What was the last thing you bought that was Made in Spain?

This week  Spain, Italy, the Netherlands, Austria, and Germany plan to sell bonds. This situation should have absolutely been avoided. This much junque on the market at one time is going to result in a disaster, although it may help Germany by allowing it to stand out as a dim light among many burnt out lights. However, all these supposed good things are ephemeral. Private money isn't fooled for long.

Olivier Blanchard, the International Monetary Fund’s chief economist, said on 6 January that debt reduction for Greece could have to be larger. Greeks are already shouldering significant cuts to services and wages and pensions BUT those cuts are not deep enough. Welcome back to post WWII times in Greece!

IMF Managing Director  Christine Lagarde will chat with Uberfrau Merkel on Tuesday 10 January. The plan to provide a second Greek bailout must be implemented and requires resolute budget consolidation by Greece’s government,  the German Miinister of Finance said.

And if the Greeks resist? No talk of panzers. Yet.

 The Asylum formerly known as Great Britain is refusing to participate in a plan to alter EU treaties. This could be proof that even a stopped clock is right twice a day or a sign that the English are once again desiring to be more than euro bumboys. I'm not holding my breath, though.

Europe’s appointed parliamentarians claim to have found  new powers over national taxing and spending.  If the SOBs get away with this scam, it will mean that sovereign countries of Europe have been subsumed by a Soviet style government.  The test comes this week when the European Commission orders Belgium to make deeper savings.  No talk of panzers. Yet.  Oh, I said that already, didn't I? Must be my Polish heritage kicking in. We're always a little worried about the panzers. They messed up the country last time they visited.

The Chinese curse about living in interesting times has been visited upon us. Collapsing Europe. Liberty being strangled in the USA. The rise of the barbarians across the Mid-East. Nuclear Iran. The real estate bubble in China about to burst. It's all coming to a head. Like a giant  septic boil.


Although it is Almost Midnight in the West, we might as well remember one of the glories of our culture one last time! The Mercedes Benz SLS AMG --on the track!