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The French Connection

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Post by Marathadi-Saamiyaar Mon May 07, 2012 1:19 pm

..Looks like the Europeans are (re)turning to Socialism, which will result in continuing freebies and into more debt - except that there is no one willing to give them the money they don't have and cannot repay.

This has potential disaster written all over. How will India factor this into their already precarious situation brought on by GAAR, corruption, Increasing debt servicing, reduced rating, and then the oil factor and the impending electoral compulsions.

Holy Allah.

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Post by Maria S Mon May 07, 2012 1:30 pm

I don't know if this is going to be a disaster...we are seeing shifting global paradigms and old ideas and strategies may not work..the old "trickle down" from a few powerful and wealthy entities don't work..and with a booming middle class and expanding lower class.."Austerity" is a smokescreen..apparently not all that is hyped up to be..

Like a lot of people, have some "capitalist" and some socialist/comrade in me..and we seek some economic fairness and middle ground- can't fool the masses all the time.

*All the predictions about a huge drop in the US stock market today is not happening *so far today, it's time for new innovative approaches- not old false ways which create illusions of success for the majority.

http://www.washingtonpost.com/blogs/ezra-klein/post/whys-austerity-so-unpopular-in-europe-because-its-not-working/2012/05/07/gIQA9mj67T_blog.html?wprss=rss_business
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Post by Idéfix Mon May 07, 2012 1:36 pm

I am hoping Hollande's election will turn out to be a good thing in the long run. You can't cut your way out of a recession any more than you can recover full health by going on a starvation diet when you have a fever. The Germans have been pushing for severe austerity because it suits their national economy, while much of the Eurozone is in severe recession. Hopefully Berlin will see that they need to step back a little. If not, the euro may collapse -- which may not be such a bad thing in the long run either.
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