Euro crisis brings world to brink of depression

[marmar]

Euro crisis brings world to brink of depression
Commentary: Parallels to 1930s’ missteps unmistakable

By Darrell Delamaide


WASHINGTON (MarketWatch) — Europe is a tinderbox waiting for a spark.

The financial volatility in Europe may have created a situation that is now beyond the capacity of policy makers to control or curb.

When an accomplished fixer like Pascal Lamy, the head of the World Trade Organization and the longtime chief of staff for former European Commission President Jacques Delors, describes the situation in Europe as “difficult, very difficult, very difficult, very difficult,” you know it is time to run for cover.

The crisis has now gone well beyond the prospect of breaking up the euro to the threat of a full-fledged financial and economic collapse in Europe that could plunge the world into a second Great Depression. ...............(more)

The complete piece is at: http://www.marketwatch.com/story/euro-crisis-brings-world-to-brink-of-depression-2012-07-24?dist=countdown

[xchrom]

1. Du rec. Nt

[dixiegrrrrl]

2. So when they outsource first world jobs

then steal all the money from first world nations
then impose further deprivations.."austerity"... on first world citizens
who did they think was going to buy any of the outsourced products?

and never mind the stupidity of trying to deny we have BEEN in a depression for some time now.

[AnotherMcIntosh]

3. Oh, good. Time for more bailouts.

That which gets rewarded gets repeated.

[mbperrin]

4. Tired of inanimate objects being blamed for everything? I am.

Financial volatility has created nothing in Europe. Greedy bankers beyond belief with the assistance of their greedy politic0 butt buddies have stolen so much that the foundation stones are starting to go missing.

I see headlines like "the gun fired." No, it didn't. Some idiot fired it.

Stupid, shortsighted, enabled, unbelievably greedy people have done this, and I don't mean anyone who works for a living.

Just a rant, sorry. I do wish the bastards would all spontaneously burst into flames.