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diese Sozialisten
und ihre Mitleidstour
[url]http://www.safehaven.com/article-15990.htm[/url]
March 04, 2010
Smoking Swap Guns Are Beginning to Litter EuroLand,
Sovereign Debt Buyer Beware!
by Reggie Middleton
The French
In 1997, the French government received an upfront payment of £4.7 billion
($7.1 billion) for assuming the pension liabilities for France Telecom workers
in return. This quick cash injection helped bring down France's deficit, helping
the country to meet the pre-condition to join the Euro zone. You may reference
the
(...)
As you can see, the French government has accepted 301 billion euros of
pension liabilities for 16.2 billion dollars of upfont payments. Who want's to
bet if these liabilities are drastically underfunded? Either cut Greece some
slack or jump into France's ass. We shouldn't have it both ways!
[url]http://www.safehaven.com/article-15998.htm[/url]
( Auch in Deutschland hatte mal das Post-Fermeldewesen das Monopol beim
Telefon )
Debt and socialism are a toxic mix for investors.
When I served as a Member of Parliament, under Margaret Thatcher, freedom
literally burst upon Britain. We dropped the top rate of income tax from 92
percent to 30 percent (generating far higher tax revenue); abolished foreign
exchange controls overnight; and demolished socialist controls by, for example,
allowing people the basic freedom to own their own telephones! A wave of
enterprises sprung up and Britain once again was referred to as 'Great,' without
causing wry smiles. Though it may be astounding by today's standards, we
instituted a public debt repayment schedule. Thereafter, sterling soared by
almost 100 percent between 1985 and 1995.
(..)
Greece is a small economy. But its debt problems highlight fault-lines
undermining the euro, and with it the socialist dream of a United States of
Europe. Today, Greek ten-year bonds sell at yields north of 6 percent, nearly
300 basis points higher than similar German, Danish, or French sovereign bonds.
(...)
History is littered with examples showing that socialism kills enterprise.
The UK and EU are largely socialist. The US is becoming increasingly so. This
political trend, coinciding (unsurprisingly) with a major recession, invites
catastrophe.
