Thursday, December 8, 2011

Face Of Balanced Terror?

Pool photo by Jan-Paul Pelissier

Many economists continue to believe that ultimately the E.C.B. will have to intervene more aggressively in bond markets, to prevent borrowing costs for Italy and other countries from becoming so high that they are unable to refinance their debt.
“We do not rule out that the E.C.B. changes its policy in the coming months,” Jörg Krämer, the chief economist at Commerzbank, wrote in a note. “But we probably need an emergency situation to cause the E.C.B. to aggressively step up its purchases.” For example, the E.C.B. might act if Italy were unable to sell new bonds next year, Mr. Krämer said.
The leaders are playing political game, out of mind out of sight kind of game I think. I am not sure who play who but definitely political that is why.  Mrs Merkel painfully aware her people’s opinion and  Mr  Sarkozy painfully aware his coming election… all too painful...scary scary brinkmanship …but end of the day they have to do right thing, as Aristotle said “The whole is greater than the sum of its parts.”

Today music

Bit of listening this to get away this craziness, a  mountain where cloudy sings its song to the sky, and the reposed sky his  face to his  earth, remember we make the beauty!

P.S. I think we should not say to bad thing about the European leaders are being politicians and  playing on political game, of course  their actions  should be political as politicians.  We need their political skill to solving this scary mess. Unbelievable how the leaders can not see the possible clemency  calamity effect on the world economy. So for example we need to Mrs Merkel is using her politician charm to  her hard-working, hard-saving, well-discipline German people that they have to bit of share their hard savings to hard-spending  hard-holidaying Greek friends. Sometimes knowing is sin and agony, not knowing is much better  least that way you are not have to  agonized what is so terriblely wrong that is not only unethical but also impractical but a sheer of craziness.