What is Going to Come of Europe?

[Tanada]

The roller coaster economy is still moving but sales in my are seem to be down from what they were last year. Maybe everyone shopped online this year? If the sales are not much better than they appear it is going to be a BAD January and poorer 2012.

I still think Europe is going to return to Nation State system of governments all competing with one another, the Common Market only works when everyone benefits and when the PIIGS drag everyone down the strong want to separate from the weak.

[Cloud9]

The market is not real. It is being flushed with backstops from the fed. The market cannot be allowed to collapse because of all the entities that hold those assets. Therefore GDP statements, employment numbers and all the other states that should reflect fundamentals are window dressing. Bernanke told the truth when he said the fed cannot print more oil. Everything else is fluff.

[Margarethe]

There is always another way.

[Newfie]

They will hang onto the status quo for as long as possible, past the point where failure is obvious.

It is just the same with our oil rich lifestyle here in the US. It is obvious that it is unsustainable and is wrecking havoc with our planet and endangering the very future of our species. Yet we are frozen in inaction. Ditto, EU. Human nature.

At some point it will collapse, but I am not sure if it will be the first to collapse. Thus the blame may be shifted to other factors.

The point is more 'What is Going to Come of the World Financial System?' The answer is the same; hold on like you are riding a bull at the rodeo, then get thrown.

[Margarethe]

Europe has weathered more difficult situations than this. My vote is a positive outlook and an expression of hope.

[Outcast_Searcher]

They will hang onto the status quo for as long as possible, past the point where failure is obvious.

It is just the same with our oil rich lifestyle here in the US. It is obvious that it is unsustainable and is wrecking havoc with our planet and endangering the very future of our species. Yet we are frozen in inaction. Ditto, EU. Human nature.

It doesn't have to be that way, and of course, it shouldn't be that way.

Everyone who isn't TRULY "on the edge financially" CAN make responsible choices to make their future financially stable, yet, by far, most don't. (BTW, most don't seem to realize that luxuries are NOT necessities, or are unwilling to face that distinction -- thus they CHOOSE to be irresponsible (and blame everyone else, of course)).

Either:

1). People in general are REALLY, REALLY, stupid.

2). People, aside from the third world, now expect/demand that "government will/should take care of them". Given the dismal results of THAT, see number 1.

3). People have given up. They don't believe their efforts make enough of a difference -- or can reliably enough make a real difference. So, to hell with it and "Party on, Garth" until the music stops.

Not only, as a society, do we get the government we deserve, but we get the overall consequences we deserve. Based on what I see of people's behavior in general -- we are MASSIVELY screwed.

As Micheal Lewis said of Greece (and the U.S.) in "Boomerang", it is a massive moral failure of corrupt society refusing to take responsibility for their actions (and blaming anyone but themselves).

Not only are we screwed, but collectively, we DESERVE our fate. Too bad the honest and prudent are going down the dumper with the "fiasco dancers". The politics of envy will help ensure that.

[Newfie]

I vote for #1.

[Pretorian]

Either:

1). People in general are REALLY, REALLY, stupid.

2). People, aside from the third world, now expect/demand that "government will/should take care of them". Given the dismal results of THAT, see number 1.

3). People have given up. They don't believe their efforts make enough of a difference -- or can reliably enough make a real difference. So, to hell with it and "Party on, Garth" until the music stops.

in the third world there are a lot of subsidies also. food, rent, gasoline, NG, public transport, u name it.
But the government should take care of everyone, or it will have no one to govern over, and no government ever liked it. Romans fed and entertained their plebs for free for a reason.

[Novus]

I am voting break up but it may be another year or so before the chips actually come crashing down. If they were smart they would move now for an orderly break up.

[EnergyUnlimited]

I am voting break up but it may be another year or so before the chips actually come crashing down. If they were smart they would move now for an orderly break up.

This idea is perhaps the best one but it is politically impossible to proceed with.
No government ever, maybe with a sole exception of Byzantians, allowed to be turned into managers/custodians of collapse.

So it is a Nature's job to finish off unsustainable system.

NB.
Byzantians are the only example known to me of large scale designed, successful powerdown.
Cuba is also coming to mind but it is too small to compare with eventual powerdown in EU.