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The Real News Post
Social Networking based News magazine, to get the TRUTH out, to foster Peace & Prosperity™
Author: Real_News
Date Posted: 2012-01-10
Viewed: 14,508
The truth about so called Euro Debt Crisis and why Euro is still beating the pants off US Dollar
Doubtless you have been reading and/or hearing the near non-stop doom & gloom reporting from US & UK Media about "Euro Debt Crisis", and if you are like most people you are wondering what the hek does this mean! And I am not just referring to you as if you are an American or a Canadian etc. as to wondering what the hek does all this talk of "Euro Debt Crisis" that is coming non-stop from US/UK Media means, but even if you are a European you are wondering the same question. For if you are in a typical European city and you ask a typical European what do you know or think of this non-stop doom & gloom coming from US & UK Media about "Euro Debt Crisis", their answer would be either what "Euro Debt Crisis are you talking about" or "I really do not know what they are talking about" or "It has no effect on me so I dont really pay any attention to it" etc. indication that the "Euro Debt Crisis" is really more of a creation of US & UK Media than reality in Europe, much as the US & UK Media in 2002 in total non-stop brain-washing unison tried to sell to the World of the need for War in Iraq for one made up reason after another, they are now engaged in a similar campaign against Euro. Now there is some truth to this so called "Euro Debt Crisis", but it is not at all what the right-wing fear-mongering Media
has been reporting, this article will explain what is really going on in this regard and most likely what will happen to address it and what all this means for average investor.

The truth about so called "Euro Debt Crisis"

"Euro Debt Crisis" is mainly non-sense and really the continuation of the Con Job of the right wing Media/Cabal behind Republicans, so that they can then say:

"US is next if we do not stop Government spending OR If we adopt European style socialized services"

However there is some truth here, but it is not at all what the US/UK (right-wing Media) is telling you. In summary:

1- Near collapse of US economy in 2008, reduced growth world wide and for those
smaller economies that were dependent on growth to service their Bond interest payments, these payments became harder to make.

2- Euro being a very strong currency has put a straight jacket on the weaker economies, such as Greece, who cannot devalue their own currencies, and thus grow their way out of their Bond payments this way.

So "Euro Debt Crisis" is really about Euro being currency of a Union that is not backed by a single Fiscal policy and not about "Euro Debt" per say, all of which FACTS you can see prove by Euro being MUCH MORE valuable than US Dollar still.

Euro is a deeply flawed currency but still beating the pants off US Dollar!

So Amongst all doom reporting from US Media, about "Euro Debt crisis" there is one truth:

Euro is a deeply flawed currency.

Because Euro is currency of a monetary Union with no Fiscal Union. This means
countries that use Euro have different Tax rates, Bond rates, etc. serious lack of monetary Union. This is really crazy when you think about, this means that for example Greece would have to borrow at 8% whereas Germany can issue Bonds at 2%, or Greece has 30% Tax on income over 250K, whereas Germany has 50% and collects it.

With above FACT stated, here is another FACT, a deeply flawed currency Euro is beating US Dollar, given that Euro has GAINED a MIGHTY % against US$ since its introduction in 2000 at 1 to 1 to US$. This is really BEST proof of the fundamental problems of US economy, which are:

1- Lack of something as essential as universal socialized health care, something that would give health care to all Americans while cut health care costs by 50%

2- Our Taxes wasted on One War after another and a Gargantuan Military

3- Plus lack of other social services, such as the fact that in Germany, France, etc. European country you can go to college pretty much for free, free for the Taxes that you pay through your life, whereas same college education in US will cost you an INSANE amount of $100,000 and more, thus saddling you with Debt for years to come even if you get a good Job and God help you if you do not, thus retarding your economic growth and enjoyment of life.

So just think how screwed up USA is, that a deeply flawed currency such as Euro, the currency of a Union that supposedly is having a "Debt Crisis", is still beating the pants off the US Dollar.

This is really the best indication of how fundamentally screwed up USA has been
and continues to be. After all how screwed up can you be that it is 2012 and US does not have something as essential for the functioning of a Modern economy as universal socialized health care (NHS), something that the ENTIRE developed World has, something that the Conservative parties, repeat the Conservative parties, in UK, Canada, Israel, etc. 100% support. And why Conservative parties in entire developed World are 100% for their NHS, it is because in countries that have not-for-profit Government run NHS, health care is taking on average 9% of GDP while in US with Wall Street run for profit health care, 50Mill+ have NO health care, 2Mill+ go bankrupt each year due to health care costs, and health care is taking a DEFICIT busting 18% of GDP.

It gets worst for USA

So here is what tells the World that even a currency as flawed as Euro is better than US Dollar. Because one major party in US, the Republicans are such
lunatics, to actually oppose such sensible socialized services as universal socialized health care (NHS), or socialized college education, etc. as they have in UK, Canada, Israel, Germany, France, Japan, China, etc.
And the other party, although talked about it, they actually never even proposed NHS, set aside pass NHS. And vast part of US Media are such enemy of American people, that they report non-stop lies and lies in opposing NHS and other necessary socialized services, such as they print in their US version, but not their European or Canadian versions, that European, Canadian, etc. are dying waiting in line to get health care because of their socialized health care. Which of course as a European, Canadian, Japanese, etc. citizen with NHS in your country you know to be a total lie and that is again why US Media outlets do not write the same in their European, Canadian, Japanese, etc. versions.

How about S&P downgrades Euro banks

No one in Europe gives a SQUAT anymore about what US firms or Media says. After all a country that is so miserable, because it is mislead by its Media, to have as one of its main parties the Republican lunatics, and as its main Media sources such lying right-wing machines as Talkradio, Fox news, Wall Street Journal, which party and so called News sources are about one Con Job after another, who for example say to anything that is for benefit the American people at the expense of the Wall Street gang, such as having universal socialized health care (NHS) so that all Americans will have health care while health care would cost 50% LESS: "Socialist Socialism Socialist Socialism" when one of their favorite organizations is the US Military which is a 100% Socialized entity,
then a country this miserable, this mislead by its most powerful institutions, has nothing to say that anyone cares about.

And again that is why a deeply flawed currency such as Euro, is still beating the pants off the US Dollar.

What about Greece going bankrupt?

1st, If you were in Greece now you will see that all this doom & gloom talk about Greece is mainly non-sense. As typical restaurants, clubs, beaches, etc. are packed until wee hours of the morning, etc. indication of how Greek are having a great life. So does Greece have some problem, yes they do and it is what Greek called "fakeleki", which basically means a systemic problem of bribing under table, you could actually think of it as rampant capitalism.

So these non-stop negative reporting about Greece "debt crisis.." by US Media is meant to enable the Republican lunatics to then say, See:
"US is next if we do not stop Government spending..."
"Socialism only works until you run out of other people's money to squander..."

etc. Psycho babble

Demonstrating yet again the Con Job Republicans & right-wing Media are playing on American people, FOR:

1- Germany, Norway, etc. European countries whom have lil Debt and much LOWER Un-Employment, compared to US, have much more of a "Socialism" based economies than Greece.

2- In fact main reason behind Greece's debt is that it has not been enough of a "Socialism" based country as other European countries are. To be exact this means that Greece has NOT been collecting Taxes as other European countries do. Although there are other problems specific to Greece, they range from what they call "Fakeleki" to Euro being too strong compared to competing tourist destinations such as Turkey or Bulgaria.

All of which points you can see proven by Euro being MUCH More valuable than US Dollar. Given the FACT of Euro having gained a MIGHTY % vs US Dollar since its intro at 1 to 1 to US$ in 2000. Or by the FACT that while most US Auto makers went bankrupt NOT 1 European Auto maker went bankrupt, etc. Or by the fact that when the real Rich in US, such as Murdoch of Fixed news & Wall Street Journal (LIES), wants to buy a Vila or vacation he goes to Europe and would not be caught dead in US States that Vote Republicans such as Kentucky, Missouri, Tennessee, Oklahoma, etc.

More about what is really going on in Greece and why European economies will continue to MUCH better than US:

What about EU leaders failed December meeting?

Once EU leaders, less UK, decide they are going to finally address the deeply flawed aspects of Euro, which is that it is a currency of a Union that does not have the same fiscal policy, which is insane to put it mildly. After all how in Gods name are the Greek to have same currency as Germany when they have to issue Bonds at 8% to finance their operation when Germany can issue Bonds at 2%! So once EU leaders agree to create a fiscal Union, much like US has, then the deep flaws of the EU will be removed and only thing that will remain are the fundamental problems of US economy, which problems Republican champion and Obama Admin did not address at all!

So here is KILLER FACT you need to realize, should EU address the deep flaws of Euro, then US Dollar will be TOAST vs Euro. That is Euro has gained a MIGHTY % against US$ with its current deep flaws, imagine what will happen after these flaws are addressed! You could then see Eur/USD at 2 which for example means Gas costing Americans $6 per Gallon.

Wont UK block the EU Fiscal Union?

Europeans for long have realized that certain elements in UK wants the EU project to fail, or hobble along, so more and more what UK says matters less and less to the EU leaders. In fact the Veto of Dave Cameron, in late Dec 2011 of the steps toward EU Fiscal Union, made the EU leaders to realize that goals of UK still lay in making sure that a true European Union does not come into play, which Union as per the dream of Napoleon and others in Europe, will in time render UK as the back water of Europe. After all, EU economy is TEN times the size of UK economy.

But in fact, what is more likely, is that UK in time, either under Cameron that vetoed the last EU Fiscal Union proposal, or under a new leader, will support the EU Fiscal Union proposal because more and more UK leaders realize that they cannot anchor their economic future to US given the fact that US is suffering from Republican lunatics and the right-wing Media/Cabal that makes them possible, and as a result US has fundamental problems, with no sign that these problems will be fixed soon.

If we have Universal Nationalized health care we will go bankrupt like Europeans

One of most amazing, but typical, of the Republican and right-wing Media Con Job about the so called "Euro Debt crisis" is that then they will then say, see:

If we have Universal Nationalized health care (NHS) like Europeans we will go bankrupt like Europeans"

The answer to which amazing non-sense is:

1- It is not just the Europeans that have NHS, the entire developed World has NHS, from Canada, to Japan, to Australia, including their beloved Israel.

2- If Europeans were not operating health care on Socialized basis, aka NHS, then their Debt would be much higher. Given the fact that in countries that have NHS, health care is taking on avg about 9% of GDP, whereas in US with no NHS and instead Wall Street run health care, where an astonishing 50Mill+ have NO health care, health care is taking a DEFICIT BUSTING 18% of GDP. So because Europeans have NHS, their spending on health care is reduced by $1-Trillion per year. And that is one of reasons why even though Euro is a deeply flawed currency, it is still beating the US Dollar.

What is the worst that can happen?

As further indication of what a rightwing fear-mongering Media, US Media is consider that 1000s of stories have appearing in US Media asking: "What is the worst that can happen" with the Euro Debt crisis! In regard to this so called question:

1st, Again "Euro Debt crisis" simply means high Bond rates for certain weaker EU economies. The worst of which that can happen is that these countries will default on their Bond payments, which means (mostly) rich Bankers will get a hair cut on their Bonds. So just as when Argentina defaulted on its debt meant squat and in fact as a result of this default Argentine economy did great a few years later, same will happen in EU should Greece default on their Bonds.

2nd, Because Europeans Governments are run by their people for their people (aka Main Street) then EU will do the right thing to avoid the worst and result in the best, contrast to US where Government is run by the Wall Street via their puppet Republican lunatics and HOAX Democrats and thus the worst keeps happening to the American people.

So what will happen?

For Europeans to address the so called "Euro Debt crisis", which again means that certain weaker European countries cannot be in Euro and at the same time pay much higher interest rates on their Bonds than others. there are a few solutions:

1- Euro needs to drop much in value against US Dollar and other major currencies, so that the weaker economies like Greece can than compete against surrounding countries such as Turkey which have much lower priced currencies to Euro.

2- EU members need to create a much tighter fiscal Union, they need to create something tantamount to US Federal Reserve and a central Taxing authority, so that that the Taxes in Greece are same as in Germany and paid to a central authority. Which central authority, in ECB, then would issue and back a Euro Bond so that all EU members would have the same interest rates.

But what you can bet on, is that since EU Governments work for their people (aka main street), that they will make the right decision and will come out even stronger.

So here is what you can Bank ON:

US Dollar will NEVER EVER, repeat for Republican lunatics & right-wing LYING US Media, NEVER EVER, be as valuable as Euro since Europeans are not suffering from Republican lunatics, HOAX Democrats and above all a right-wing Media/Cabal armed with 100s of Billions of Dollars waging War on them.

As a result Europeans have fundamental advantages over US, which simply means Europeans get much more value for their Taxes, due to operating a sensibly more of their economy on Socialized basis and not just Military, Police, etc. on Socialized basis as in US. Such as for example ALL Europeans, like all other developed nations, have Universal Socialized health care (NHS) as a result of which while ALL Europeans have health care, they spend 50% LESS, NOT MORE, LESS, on health care than US! And also Europeans can go to college for nearly FREE, for Taxes they pay, etc. and that is WHY the rest of their Capitalist economy will do MUCH better than US.

And to finish on a light but still relevant note: Great Video by Colbert Report as to what utter lunatics Republicans are by spoofing one of the X-Republican Presidential candidates saying that God speaks to him.

Reference Notes:

Euro US Dollar exchange rates since the intro of the Euro, showing Euro was introduced at actually slightly less than 1 to 1 to US Dollar

Euro debt crisis is mainly non-sense and propaganda by the right-wing Lying US Media

Cost of health care in countries with Socialized health care vs US showing that while ALL Europeans, Canadians, etc. have health care they spend 50% LESS on health care compared to US that has for profit Wall Street run health care

Margaret Thatchers Conservative party is 100% for their Universal nationalized single payer health care

Greek government debt crisis

Typical right-wing US Media non-sense: "Euro, preview of what may happen in US"

UK approves $50 Billion Dollar High Speed train project

Argentina's debt restructuring: A victory by Defaulting on the Debt

Harder for Americans to Rise From Lower Rungs than Europeans, Canadians, etc.

Another prediction by the right-wing Media/Cabal that Euro will collapse in 2 years
HOW long do they have to be wrong for American people to realize how wrong they are?

Private Message Author Recommend Article Follow This Author

COMMENTS     Posted: 35    Pending: 0

By Guest:   look_closer 2012-12-28

So Euro has remained KING to US Dollar as you guys so emphatically said it will. While even the so called Liberal pundit of the right-wing lying Media, that is Paul Krugman said it will crash. Proving yet again that US Media, that is Wall Street owned Media ranges from ultra lunatic right-wing lying machine to right-wing lying machine and that if you want the real truth, you can only get it here at realnewspost.com.
My Hat off to you People.

To be exact:

Back in May, as the euro zone veered deeper into crisis, Nobel Prize-winning economist Paul Krugman penned one of his gloomiest columns about the single currency, a piece in The New York Times entitled "Apocalypse Fairly Soon."

"Suddenly, it has become easy to see how the euro — that grand, flawed experiment in monetary union without political union — could come apart at the seams," Krugman wrote. "We're not talking about a distant prospect, either. Things could fall apart with stunning speed, in a matter of months, not years."


By Guest:   wisdom4u 2013-01-11

Could not agree more with you.
So only this news site and ONLY this news site was 100% right on the Euro prediction.
That is while entire Wall Street owned Media from New York Times to Wall Street Journal to CNBC etc etc. ran 1000s of articles about "Euro Debt Crisis" and "Euro is going to collapse" due to their Socialized health care and other generous Government provided Social services you guys, this site ALL ALONG stated that because Europeans have Socialized health care and other generous Government provided Social services is exactly why Euro will be KING to US Dollar and you were 100% right and Wall Street owned Media 100% wrong. My hats off to you.
I wonder when American people going to realize that if they want the truth they can only get it here and they will only get lies upon lies from right-wing Media, aka Wall Street owned Media from New York Times to Wall Street Journal to CNBC etc..

By Guest:   real_patriot 2012-10-08

Absolutely BANG on article.
Related to this article consider Romney's remarks about Spain in the so called debate, that is:
"I don't want to go down the path of Spain,"
"I want to go down the path of growth that puts Americans to work."

You freaking moron:

1- Spain's level of government spending is actually low by European standards, and significantly less than Germany and Scandinavian countries with far healthier economic prospects. Spain's woes were chiefly caused by the collapse of a property bubble that had fueled more than a decade of booming economic growth.

2- Germany and Scandinavian countries have MUCH LOWER unemployment than US

All of which FACTS you can see PROVEN by Euro that has gained a MIGHTY, KINGLY 30% vs US Dollar since its introduction in year 2000 at 1 to 1 to US Dollar.

By Guest:   sense 2012-09-05

You want to know why USA is such a miserable place compared to Europe and other developed Nations, there is no better answer to this than the JOKE of the health care reform that Obama Admin passed that is anything but Government run Universal Nationalized health care that Europeans have, Canadians have, Israeli have, etc. and which Government run Universal Nationalized health care Republicans oppose for Americans by calling it "Socialism Socialist" while these same bastard Republicans go to Israel and say that "you have a most wonderful health care system and are example of free market economy.." when Israel has 100% Government run Universal Nationalized health care.

There is a great related article here:

Also watch the Video for real people.

By Guest:   Guy 2012-05-14

I love being American. Having true liberty, a small government, and ambition allows one to create wealth in this country. I could not even imagine being like Europe, so dependent on government from healthcare, food, preschool, employment, cost-of-living increases, schools, university, housing, retirement... The only way to get any help is to riot and protest. It feels so great to be self sufficient, grow my food, give money to charities of my choice, live within my means, and enjoy life and property. Profit is not evil, however confiscating it is. You liberal arts collage kids running 'realnewspost' are cute. It reminds me of when I was 19 and idolized Guy Debord.

By Member: Real_News 2012-05-15

WOW. You have written every Con Job of the Republican party!

1st, Who gives a SQUAT about what you or I think, the point is what is right & good. I mean if you wanted to jump of a bridge that does not make it a right thing.

2nd, far from "small government" we have a Gargantuan Government in regard to US Military given the fact that US Military is in 100+ countries, we spend MORE on Military than all other Nations on earth combined, and US Military is a 100% Socialist service given the fact that it is 100% Tax payer funded Government run service.

3rd, did you actually say: "You liberal", because for example Government run Universal Socialized Health Care (aks NHS) is 100% supported by Conservative parties, repeat for you Republican lunatics, Conservative parties, in Europe, Canada, Israel, etc. So why ALL Conservative parties in Europe, Canada, Israel, etc. 100% support their NHS? Because it SAVES 50% on cost of health care while giving health care to all, which is obviously what you would want to do IF you cared about the Nation and were not actually its ENEMY.

By Guest:   Noon2TV 2012-05-09

The article says:
For Europeans to address the so called "Euro Debt crisis", which again means that certain weaker European countries cannot be in Euro and at the same time pay much higher interest rates on their Bonds than others. there are a few solutions:

1- Euro needs to drop much in value against US Dollar and other major currencies, so that the weaker economies like Greece can than compete against surrounding countries such as Turkey which have much lower priced currencies to Euro. "

This is hog wash, since: Greece, Italy, Spain and the others will continue paying high interest rates and if the Euro gets devalued they'll get to pay even higher rates. Are there any manufacturers in any European country other than Germany? I dont think so. Unless you consider French Baggot or Italian Olive Oil to be manufacturing.

By Member: Europal 2012-05-09

Noon2TV , how can you people be so mis-informed or lack info!
To be exact:

1st, by Euro going down then economies of Greece, etc. will become competitive vs economy of Turkey, Blugaria, etc. whom do NOT have Euro and thus their currencies are realtively much cheaper vs Euro in Dollar terms. So by becoming more competitive then their growth and sales will go higher which means then their Tax revenues will increase which will allow them to pay off their Bond payments (aka Debt).

2nd, France makes Citroen, Peguet, etc. Autos, the Airbus which is outselling Boeing 4 to 1, Arian space craft, TGV high speed trains which US cannot even come close to AND most of the top brands in the World from Channel to Hermes, Italy makes Fiat that just saved Chrysler, Ferrari, Lamborgehni, etc. the Worlds greatest Ships, greatest Tunnel boaring GIANT machines, etc. etc.

3rd, as the article states beside Euro needing to go down VS Dollar to allow weaker European economies to become more competitive are fiscal policy mut be put into place.

By Member: Reporter 2012-05-08

And in response to such non-sense articles as: "What Would Happen If Greece Left the Euro Zone?"

Greece and other weaker European nations rather stay in Euro at all cost because Euro inoculates them from the fundamental sickness of the US Government & economy, which fundamental sickness are due to Republican lunatics, HOAX Democrats and above all a right-wing lying Media/Cabal, which sickness are as ABSOLUTE for all to see as:

1- Lack of something as essential as universal socialized health care, something that would give health care to all Americans while cut health care costs by 50%, something that ALL European, as ALL developed Nations have, but USA does still does not in 2012!

2- Our Taxes wasted on One War after another and a Gargantuan Military

3- Plus lack of other social services, such as the fact that in Germany, France, etc. European country you can go to college pretty much for free, free for the Taxes that you pay through your life, whereas same college education in US will cost you an INSANE amount of $100,000 and more, thus saddling you with Debt for years to come even if you get a good Job!


By Member: ThinkDeep 2012-04-12

DId ýou read this article by right-wing hack Soros:
"Exceptional Measures Needed to Save EU: Soros"

Soros is another great example of why US is such a misreable country now, as evident by the FACT that it is 2012 and USA still does not have something as essential for the well being of the Nation as Universal Nationalized Health Care, something that they have had for decades in all European nations, Canada, Australia, Japan, in fact in all developed Nations, something that would give health care to all the People while cut health care spending by 50%! are people like Soros.

That is Soros is as right-wing as any Wall Street gang member, but they have played this Ultimate Con Job on American people that he is Liberal. But as you can see in this article, as in 100s of similar one, he is repeating the same LIES and non-sense of Republican lunatics and right-wing Media about Euro Debt crisis, etc. which this article proves all to be mainly lies and non-sense and what we need to worry about is USA that is suffering from right-wing Media/Cabal of which Soros is a member of.

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