Germany/France Latest - Eurozone Crisis

The New York Times: Reports that Germany and France have agreed that the EU Banks will be bailed out. The problem again folks is there is no actual plan, nice words, but its getting bit boring, the July Agreement on Greece still has not gotten total approval from the 17 Eurozone Countries, h-ll there is still a chance that it might not get approval. The EU leaders always seem behind the curve when it comes to the Eurozone crisis. The black hole that is Greece is still out there, the Troika of the EU/IMF/ECB still have not given the green light for the next Greek bailout of eight billion euros. Also over the weekend we have seen the downgrade of Italy and Spain, twelve UK financial institutions have been downgraded, but this is more to with the fact that the Credit Agencies think that the UK will not again bailout smaller UK banks. The banking downgrade has also effected Portugal. The contagion of the banking system has started folks, the French/Belgium Bank Dexia has gone bust, thus the question will contagion move faster than EU politicians. The French and German leaders have stated they need to talk to fellow EU leaders, thus more meetings, and late calls before markets open, thus more turmoil in the banking and stock markets. Its all down to debt folks, sooner or later Western Europe will have to deal with the fact that the welfare state is killing Europe, the economic model after 1945 is falling apart, at its most basic, you have older generation, a smaller pool of younger workers, and the taxes don’t match the costs of the welfare structure, in less you deal with that this crisis will never end, just endless debt and stagnation.

Cabinet Reshuffle ? - Coalition Government

BBC News: Reports that the Liberal Democrat Energy Secretary Chris Huhne has said sorry to the Home Secretary Theresa May for trying to cause political mischief by comparing her Conservative Party speech to those of the UKIP leader. Lets face it folks Chris Huhne is a problem, there is the police investigation in to his or his ex - wife’s speeding points, that could blow up at any time and lead to his resignation, also with the Dr Liam Fox story it could be time for PM Cameron and DPM Nick Clegg to have a Cabinet reshuffle, if these two are gong sooner or late why not do get rid of them NOW. Rather than wait for the end these two Ministers should either be forced to resign or be sacked, clean house, and have some new faces in the Cabinet. Politics is a ruthless business folks.

New Hampshire Poll - 2012 US Race

CNN: Reports that Governor Mitt Romney leads in the latest poll out of New Hampshire, in second place in Herman Cain. The expected vote for the first 2012 Primary is January 10th 2012 folks. Thus if Romney can wins Iowa or come close and takes New Hampshire it wont leave much time for other candidate to overtake him. The interesting question and one that this blog had discounted is the prospect that Mr Cain could be the Republican nominee, his Conservative message is going down well with Republican voters and Tea Party supporters. As Mr Cain happens to be African - American and a Conservative, this must send nightmare through the Democratic establishment, the Africa - American vote is a core voting block for Democrats, if Mr Cain can win the nomination and send Mr Obama back to Chicago it would redraw the political map folks, also it would be great for the US, it would show that both the Republican Party and Democrats have left the race issues of the past behind, it would show the greatness of the US to have two African - Americans running for the Presidency.

G20 and the Eurozone Crisis

Guardian: Reports on the upcoming G20 meeting in Paris, the article states the following, “ ..major economies meet next weekend, they could be excused for having a sickening feeling of deja vu. ”. In 2009 the G20 had to deal with the banking crisis, as we are back again it seems it has to be asked, is the Western economy to follow the same path as 2009, massive bailouts for the banks or try something new, lets try something new, lets be honest folks since 2008 the debt problem has moved form the individual to the bank and then the State, thus the present Sovereign debt crisis in the Eurozone. Lets allow the banks to fail folks, we are told it would be disaster, lets see the plan from leaks is for the West to bailout the banks again!! Have a two trillion fund to bring stability to the Euro, o by the way manage a Greek default. Its just more debt folks, or printing money, sooner or later it becomes worthless, aka Weimar Germany. Lets be bold, allow the system to crash and restart, at least you would then have the fund to start all over, otherwise its just debt on debt and the debt again. It will be hard folks, it will make the Great Depression look fun, it was not, but at least all the debt would be cleared, otherwise this crisis will never end, just endless crashes or no growth.

Blair and Gaddafi

Sunday Telegraph: Reports the House of Commons Foreign Affairs Committee will discus looking in to the relationship between Colonel Gaddafi and Tony Blair after the former Labour PM left office in 2007. It can be argued that if PM David Cameron really wanted to close down the Fox scandal he should threaten a full investigation in to both Fox and Blair, lets be honest Tony Blair is not popular, and any investigation even if it proved all was above board would be damaging to Blair and the Labour Party under Ed Miliband. The PM could decided to use the nuclear option in the future should he really want to save a Cabinet colleague, but it’s a option folks, a PM always likes options.

The Fox Scandal - Coalition Government

BBC News: Reports on the unfolding scandal centred on the working relationship between Defence Secretary Dr Liam Fox and his friend Adam Werritty. Folks since this story broke this blog has tied and failed to see what the problem is, nothing illegal has come out, no used fivers given as a bribe, just the Secretary State allowing his friend to get to close to his office. Labour is of course in full cry, they seem to have forgotten all their scandals when in office, and the so far none of the media have reminded of them of that, lets be clear this blog loves a juicy political scandal, Labour or Conservative, but so far there is no there THERE! The PM David Cameron has called for a 1st report to be on his desk tomorrow, can you really sack someone for having a close friend? By that critic everyone would get the sack at one time or another in any profession or workplace. But it’s a political scandal so we are told, thus the PM has to act, lets never honest Dr Fox is not that popular with No 10, the Defence Department was not happy with the defence budget cuts, thus it was made known, this could be a good time for the PM to be a good butcher, ask or sack Dr Fox and then say after an investigation if Fox is cleared he can return to government at a future date. At the end of the day this so far is a rubbish distraction, but a distraction, thus time for the PM to be a good political butcher.