Is Italy NEXT ? = Ireland

Telegraph: Reports that the bond markets have not reacted well to the Irish bailout, they have turned their eyes to Italy, the Italians have a debt of over two trillion Euros. Lets get real folks, we have had Greece, now Ireland, one has to ask when will it be Portugal, or Spain, what if Spain, Portugal and Italy all need a bailout, how much will the German taxpayer but up with, and what point do they say NO to Euro and ask for their beloved currency back, the Germans cant bailout the whole of Europe. The banking and sovereign debts are jus to much, the European countries have to default and start again, this time live in the real world, restart the welfare state as it is now not in 1945. Thus as stated many times on this blog, if people want a NHS in then they have to pay for it, if they want to live for over a hundred then they will have to pay above the norm. The loans form the banks in the future will have to be based on the idea that you can pay it back sometime, not on the never ever as at present. Thus the banks should be taken over and restarted, the welfare state will have to be reformed, the people of Europe will have to decide do they want to pay higher taxes for a big welfare state, if not they have to live with the consequences, this debt mountain cant last folks. This is not 1945 and the US cant come to the rescue of Europe, it can barely look after its own debt.

North Korea and China - Wikileaks Leak 3

Guardian: Reports that China is ready to cut bait when it comes to North Korea. I guess even China has limits when it comes to North Korea, they might complain but what are they willing to do to close down the threat of war in the region, diplomats can complain all day but it’s the political leaders that make the decision, are they on the same page, if China really wants a united Korea under the Government of South Korea then its going the long way around, what if something goes wrong in the region, what if North Korea goes to far, what if after an attack by North Korea the South decides to react, there could still be a second Korean War folks, lets see who as has the best hand, China or North Korea. It might not be China folks!