At Bloomberg it’s being reported that George Soros is warning of an existential danger for Europe:
A surging dollar and a capital flight from emerging markets may lead to another “major†financial crisis, investor George Soros said, warning the European Union that it’s facing an imminent existential threat.
The “termination†of the nuclear deal with Iran and the “destruction†of the transatlantic alliance between the EU and the U.S. are “bound to have a negative effect on the European economy and cause other dislocations,†including a devaluing of emerging-market currencies, Soros said in a speech in Paris on Tuesday. “We may be heading for another major financial crisis.â€
I’m having some difficulty getting my head around that. If “destruction” of its alliance with the United States places Europe in “existential” danger, doesn’t that imply that European leaders, particularly German leaders, have been engaging in reckless, irresponsible brinksmanship for the last 30 some-odd years?
I know if my existence depended on remaining very, very friendly with somebody I’d be extremely nice to them. I don’t see many signs Europe has been treating us that way for, well, maybe ever.
Such hyperbole. Wonder what words he will use if the US ever pulls out of NATO.
Europe reminds me of nothing so much as Cleavon Little’s character in Blazing Saddles!
“He’s not bluffing!” Its problems are primarily self-inflicted.
Henny Penny is alive and well over at Zerohedge.
Europe, particularly Germany, is having some issues evolving into adulthood. True, some oil guys and airplane guys may take a hit. It’s not our job to take care of European oil and airplane guys.
Europe ought to look at what their social policies have wrought…………and then look in the mirror. But at least Italian bonds are on sale (Snicker).
Italy has been on the brink of collapse for my entire lifetime. My guess is that’s been true for most of the past millennium, maybe millennium and a half.
Blazing Saddles, what a great and timeless movie.
Yes, Dave, but after the crisis passes they get to dance and enjoy good food and wine…….
Not when pork and alcohol are banned.
Spoilsport.
But seriously, when in Italy last summer the transformational effects were more than obvious. It was so profound I wondered if critical mass had been passed. That’s probably hyperbole, but it’s a fast moving train that’s left the station over there.