We are shocked -- SHOCKED -- to report that Europeans have declared that the era of U.S. economic might is over. Der Spiegel, in an entirely predictable fit of gleeful arrogance, has this to say in today's edition:
America Loses Its Dominant Economic Role
The banking crisis is upending American dominance of the financial markets and world politics. The industrialized countries are sliding into recession, the era of turbo-capitalism is coming to an end and US military might is ebbing. Still, this is no time to gloat.
No time to gloat??? What the fuck could you ass holes possibly have to gloat about??? After scolding Americans only a week ago for the "impropriety and greed" that caused our current financial crisis, you woke up Monday morning to eat the following giant shit sandwich on Page 1 of the Wall Street Journal: "Fears Over European Banking System Escalate". Let he who is without exposure to mortgage-backed securities cast the first stone, you morons. Has it ever occurred to you that there's a reason that the Euro has lost 20 big figures vs. the Dollar in less than two months??? It's because U.S. and Japanese investment funds (which singlehandedly account for more than 50% of global investment flows) are scratching, clawing and punching each other in the nuts in an effort to not be the last rat off the sinking Eurozone ship. That's right, your economy is totally, unequivocally fucked. You have created a socialist Leviathan in the EU that leaves you with zero flexibility on the monetary and fiscal policy levers. Meanwhile, your idiot Bundesbanker wannabees seem to be convinced that Germany is on the verge of Weimar-like hyperinflation. Spain, Italy, Ireland and France, among others, are screaming bloody murder for a rate cut yet Jean Claude Trichet can't do a thing about it without having nightmares about waking up with the head of a Lipizzaner stallion in his bed. Oh yes, our Teutonic friends learned a lot from their Italian comrades during the years of the Axis Alliance!
So here's my prediction: within 10 years, the Euro will be history. Say hello once again to the Deutche Mark, Franc, Lira, Peso and -- my favorite of all -- the Irish Punt! The EU, and the Euro, were ostensibly created to provide an economic "counterweight" to the U.S. Nice work boys, you've instead ended up with a retarded Frankenstein who is going to do nothing but drool deflationary spit all over your precious "united front". Furthermore, EUR/USD is going back to parity within the next two years. The world has been so hypnotized by the Leftist media's constant refrain of "America and the Dollar are finished!" that most investors are convinced that this Dollar rally is a temporary blip on way to 1.75. Wrong, lemmings. The U.S. remains the safest place in the world to have your money. We have the largest, most dynamic, most flexible eoncomy in the world and that is not going to change. Europe, prepare for stagnation -- but by all means feel free to call on us when the next flaming anti-Semitic megalogmaniac murderous prick takes control of one of your countries because you can't break free of your deflationary spiral. We'll come save your ass again, because that's how we roll.
America Loses Its Dominant Economic Role
The banking crisis is upending American dominance of the financial markets and world politics. The industrialized countries are sliding into recession, the era of turbo-capitalism is coming to an end and US military might is ebbing. Still, this is no time to gloat.
No time to gloat??? What the fuck could you ass holes possibly have to gloat about??? After scolding Americans only a week ago for the "impropriety and greed" that caused our current financial crisis, you woke up Monday morning to eat the following giant shit sandwich on Page 1 of the Wall Street Journal: "Fears Over European Banking System Escalate". Let he who is without exposure to mortgage-backed securities cast the first stone, you morons. Has it ever occurred to you that there's a reason that the Euro has lost 20 big figures vs. the Dollar in less than two months??? It's because U.S. and Japanese investment funds (which singlehandedly account for more than 50% of global investment flows) are scratching, clawing and punching each other in the nuts in an effort to not be the last rat off the sinking Eurozone ship. That's right, your economy is totally, unequivocally fucked. You have created a socialist Leviathan in the EU that leaves you with zero flexibility on the monetary and fiscal policy levers. Meanwhile, your idiot Bundesbanker wannabees seem to be convinced that Germany is on the verge of Weimar-like hyperinflation. Spain, Italy, Ireland and France, among others, are screaming bloody murder for a rate cut yet Jean Claude Trichet can't do a thing about it without having nightmares about waking up with the head of a Lipizzaner stallion in his bed. Oh yes, our Teutonic friends learned a lot from their Italian comrades during the years of the Axis Alliance!
So here's my prediction: within 10 years, the Euro will be history. Say hello once again to the Deutche Mark, Franc, Lira, Peso and -- my favorite of all -- the Irish Punt! The EU, and the Euro, were ostensibly created to provide an economic "counterweight" to the U.S. Nice work boys, you've instead ended up with a retarded Frankenstein who is going to do nothing but drool deflationary spit all over your precious "united front". Furthermore, EUR/USD is going back to parity within the next two years. The world has been so hypnotized by the Leftist media's constant refrain of "America and the Dollar are finished!" that most investors are convinced that this Dollar rally is a temporary blip on way to 1.75. Wrong, lemmings. The U.S. remains the safest place in the world to have your money. We have the largest, most dynamic, most flexible eoncomy in the world and that is not going to change. Europe, prepare for stagnation -- but by all means feel free to call on us when the next flaming anti-Semitic megalogmaniac murderous prick takes control of one of your countries because you can't break free of your deflationary spiral. We'll come save your ass again, because that's how we roll.
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