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With the kind of aplomb characteristic of a waiter lifting thesilver serving dome to expose a roasted goose, Europe has lookeddeep into its organs of finance and produced 100 million E-bucksfor the ailing banks of sad-sack nephew Spain. Where did all that money come from? Out of Europe's ass. That is whereall new money comes from these days: an international diarrhea ofmoney. Maybe that is why the great nations of the West feel likeshit. They are not likely to feel better if they keep shitting money allover themselves. Rather, they will end up sitting in the gutter inChinatown being laughed at by Chinese businessmen passing by on thesidewalk. The Chinese businessmen will glance down and say, "Look,here are the clowns we used to see at Davos , Switzerland, every year eating foie gras. Now they are patheticcrack-heads beshitting themselves. And, hark, the lice crawling allover them are shouting and banging on pots!" We are those lice. This is what comes of pulling money out of your ass. Sorry to be sographic but it is not a pretty story. The Spanish government now turns around and lends money to Spanishbanks choking on bad debt. The Spanish banks will instantly vomitup bonds in return. The bonds will be of an unsecured subordinatedkind as to be perceived as functionally worthless, and (accordingto financial flaneur Bruce Krasting ) will inspire a subordinating of bond-holders all over Europe andhence either a massive dumping of bank bonds or an orgy of creditdefault swap bets between counterparties absolutely unable to covertheir side of the wager. We're at the point where money has been asked to perform like atrained monkey in the street, doing all kinds of tricks to distractthe public from the sad spectacle of the monkey's owner dying inthe gutter. When the owner expires, the talented monkey will notknow what to do with the coins that passersby tossed to it. These street scenes of late spring, 2012, represent what they call"unhealthy life choices" in the rehab business. All the once-greatwestern economic powers have decided to become crack-heads, winos,and beggers with amusing monkeys. They are all dying of theiraddictions. They are all dark stories with unhappy endings. Theyall ended that way because the addicts refused to make differentdecisions that would have drawn them through a frightful passageout of their addiction into a new place with a differentpsychology. The frightful passage at issue is the reality-mandated economiccontraction that the planet and its very various inhabitantsrequire for a necessary re-set to health. The human race can eitherget with the program or expire in the gutter of its septicindustrial slum. To fully understand the meaning of contraction,you have to at least first entertain the possibility of no furtherexpansion. The doctors in charge of the case can't stretch theirminds to imagine that possibility, so their ministrations are atodds with the requirements of reality. Rehab is not going so well. Of course, we lice on this body politic will not be so happy whenthe body slumps against the curb and exhales its final rattle ofbreath. So, bang those pots and yell as loud as you can as we moveinto a summer of criticality. Crawl down to Charlotte, NC, orTampa, Fla, to the political conventions, and be heard. Fellowlice: America was once a great body to live on, six-foot-three,mounted on a white steed, a sword on the hip, resolute and brave.Look at us now! See how we are! My books are available at all the usual places. Read more posts on Kunstler.com » We are high quality suppliers, our products such as Mechanical Power Presses , Ring Rolling Machine Manufacturer for oversee buyer. To know more, please visits Stamping Press Machine.
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