3 replies on “Philippe Legrain on the need for a European spring”
Very interesting article, even if one gets the impression of somebody wasting his sweetness in the desert air.
However, the idea expressed that today’s left-outs will rally to cause of keeping the older generations in the comfort to which that baby boomer generation has become accustomed, should not be taken for granted.
“As the post-war baby boomers retire over the next 15 or so years, the burden on smaller, younger generations will be huge. ”
Faced with a choice of looking after themselves and their own children or looking after an aged population that has dumped on them, what should they do; what will they do?
I would not hold out much hope for European policy change. Down the generations, European elites have preferred to bathe lesser mortals in blood, than to give up one ounce of wealth or privilege.
The mistake being make, is to assume that today’s elites are any different from the royal or aristocratic elites of previous generations. They protect power, privilege and wealth just as rulers always did. The left-outs are cannon fodder, whether military or economic or social, it does not matter. They are expendable.
There will be no European Spring.
Risk-on investing has turned to risk-off investing; global asset prices are falling as the money bubble has finally burst, as both Equity Investments and Credit Investments as well as Nation Investment, and Small Cap Nation Investment, and Global Financial Institutions, are trading lower from their April 9, 2014, highs, this coming on the failure of credit in China, in Russia, and in the US.
The failure of credit coming at the end of the week of April 25, 2014, constitutes the most significant economic event since President Nixon took the US off the gold standard in 1971, it pivots the world out of the age of credit and into the age of debt servitude, and is evidenced by the parabolic turn lower in Chinese Financials, CHIX, China Investments, YAO, as well as Regional Banks, KRE, the US small Caps, IWC, IWM, as well as Credit Providers Visa, V, and Mastercard, MC, the nation of Russia, RSX, ERUS, and Leveraged Buyouts, PSP, and manifests as the death of Major World Currencies, DBV, such as the Australian Dollar, FXA, and Emerging Market Currencies, CEW, such as the Chinese Yuan, CYB.
Now, the investor is going extinct; especially the fixed income investor; that is those invested in a Pursuit Of Yield like those invested in Electricity Utility Stocks, PUI, XLU, such as New Era Energy, NEE, Real Estate REITS, RWR, such as General Growth Properties, GGP, in Energy Partnerships, AMJ, such as Cheniere Energy, LNG, and Oiltanking Partners, OILT.
The failure of credit is an extinction event, that pivots the world economy out of liberalism, that is the paradigm and age of credit and investment choice, and into authoritarianism, that is the paradigm and age of diktat and debt servitude, which features the debt serf, is the centerpiece of economic activity.
Under the power of the Rider on the White Horse, as is seen in Revelation 6:1-2, the bond vigilantes are effecting a global economic coup d’etat, transferring sovereignty from democratic nation states to sovereign regional leaders and sovereign regional bodies, such as the ECB, by calling the Interest Rate on the US Ten Year Note, ^TNX, higher from 2.48% on October 23, 2013, and are powering up the singular dynamo of regionalism to establish regional security, stability, and sustainability, to deal with the destructionism of unwinding currency carry trades and debt trades
Investors greed has turned to fear; fear that debtors will not repay lenders, with the result that the Pursuit Of Yield Investments such as Leveraged Buyouts, PSP, Emerging Market Financials, EMFN, Shipping, SEA, Chinese Real Estate, TAO, Water Resources, FIW, Energy Partnerships, AMJ, and Global Utilities, DBU, which underwrote the age of credit, are now trading lower. It’s “Hasta la vista baby” to Shippers, specifically the Greek shippers, NM, SB, DSX, NNA, TNP and GASS.
A new currency and governmental regime is coming out of the failure of credit and the death of currencies; it is the regime of regional diktat money and regional economic governance, something that is implicit in Daniel’s Statue of Empires, seen in bible prophecy of Daniel 2:25-45, where the two iron legs of global hegemonic power, these being the UK and the US, flow into the ten toes of iron diktat and clay totalitarian collectivism; these toes are the same reality seen in the governance of the ten horns, that is the ten world regions, and the totalitarian collectivism experience of mankind’s seven institutions, foretold in the Beast prophecy of Revelation 13:1-4.
It’s a foolish argument. Ignore the anodyne stuff about how we don’t like nasty things and how we like nice things like jobs. It’d be brave to say we shouldn’t have decent jobs. Mr Legrain’s problems analysis of Europe is that it needs America’s demographics, empty space for fracking, and military funding for R&D. You can’t solve these by a “European Spring”; that’s the apparent cure to bad politics, not bad fundamentals (nor did the Arab Spring work out well for the Arabs, on balance).
3 replies on “Philippe Legrain on the need for a European spring”
Very interesting article, even if one gets the impression of somebody wasting his sweetness in the desert air.
However, the idea expressed that today’s left-outs will rally to cause of keeping the older generations in the comfort to which that baby boomer generation has become accustomed, should not be taken for granted.
“As the post-war baby boomers retire over the next 15 or so years, the burden on smaller, younger generations will be huge. ”
Faced with a choice of looking after themselves and their own children or looking after an aged population that has dumped on them, what should they do; what will they do?
I would not hold out much hope for European policy change. Down the generations, European elites have preferred to bathe lesser mortals in blood, than to give up one ounce of wealth or privilege.
The mistake being make, is to assume that today’s elites are any different from the royal or aristocratic elites of previous generations. They protect power, privilege and wealth just as rulers always did. The left-outs are cannon fodder, whether military or economic or social, it does not matter. They are expendable.
There will be no European Spring.
Risk-on investing has turned to risk-off investing; global asset prices are falling as the money bubble has finally burst, as both Equity Investments and Credit Investments as well as Nation Investment, and Small Cap Nation Investment, and Global Financial Institutions, are trading lower from their April 9, 2014, highs, this coming on the failure of credit in China, in Russia, and in the US.
The failure of credit coming at the end of the week of April 25, 2014, constitutes the most significant economic event since President Nixon took the US off the gold standard in 1971, it pivots the world out of the age of credit and into the age of debt servitude, and is evidenced by the parabolic turn lower in Chinese Financials, CHIX, China Investments, YAO, as well as Regional Banks, KRE, the US small Caps, IWC, IWM, as well as Credit Providers Visa, V, and Mastercard, MC, the nation of Russia, RSX, ERUS, and Leveraged Buyouts, PSP, and manifests as the death of Major World Currencies, DBV, such as the Australian Dollar, FXA, and Emerging Market Currencies, CEW, such as the Chinese Yuan, CYB.
Now, the investor is going extinct; especially the fixed income investor; that is those invested in a Pursuit Of Yield like those invested in Electricity Utility Stocks, PUI, XLU, such as New Era Energy, NEE, Real Estate REITS, RWR, such as General Growth Properties, GGP, in Energy Partnerships, AMJ, such as Cheniere Energy, LNG, and Oiltanking Partners, OILT.
The failure of credit is an extinction event, that pivots the world economy out of liberalism, that is the paradigm and age of credit and investment choice, and into authoritarianism, that is the paradigm and age of diktat and debt servitude, which features the debt serf, is the centerpiece of economic activity.
Under the power of the Rider on the White Horse, as is seen in Revelation 6:1-2, the bond vigilantes are effecting a global economic coup d’etat, transferring sovereignty from democratic nation states to sovereign regional leaders and sovereign regional bodies, such as the ECB, by calling the Interest Rate on the US Ten Year Note, ^TNX, higher from 2.48% on October 23, 2013, and are powering up the singular dynamo of regionalism to establish regional security, stability, and sustainability, to deal with the destructionism of unwinding currency carry trades and debt trades
Investors greed has turned to fear; fear that debtors will not repay lenders, with the result that the Pursuit Of Yield Investments such as Leveraged Buyouts, PSP, Emerging Market Financials, EMFN, Shipping, SEA, Chinese Real Estate, TAO, Water Resources, FIW, Energy Partnerships, AMJ, and Global Utilities, DBU, which underwrote the age of credit, are now trading lower. It’s “Hasta la vista baby” to Shippers, specifically the Greek shippers, NM, SB, DSX, NNA, TNP and GASS.
A new currency and governmental regime is coming out of the failure of credit and the death of currencies; it is the regime of regional diktat money and regional economic governance, something that is implicit in Daniel’s Statue of Empires, seen in bible prophecy of Daniel 2:25-45, where the two iron legs of global hegemonic power, these being the UK and the US, flow into the ten toes of iron diktat and clay totalitarian collectivism; these toes are the same reality seen in the governance of the ten horns, that is the ten world regions, and the totalitarian collectivism experience of mankind’s seven institutions, foretold in the Beast prophecy of Revelation 13:1-4.
It’s a foolish argument. Ignore the anodyne stuff about how we don’t like nasty things and how we like nice things like jobs. It’d be brave to say we shouldn’t have decent jobs. Mr Legrain’s problems analysis of Europe is that it needs America’s demographics, empty space for fracking, and military funding for R&D. You can’t solve these by a “European Spring”; that’s the apparent cure to bad politics, not bad fundamentals (nor did the Arab Spring work out well for the Arabs, on balance).