Do as I say, not as I do

September 13, 2011 By Hermann Observer in Habitudes, Heconomy, Hypocrisy Tags: Berlin, Debt, Debt Crisis, EU, Euro, Eurozone, German, Germans, Germany, Humor, Satire 6 Comments

Believe you me, Europe, President Barack Obama knows what he’s talking about when he’s talking about debt.

And that is why he wants YOU to solve your eurozone debt crisis pronto. He is, after all, “deeply engaged” with European nations about solving the eurozone debt crisis, if less so about solving the American one, and is deeply convinced that European countries need to coordinate fiscal policies just like the American administration and Congress have not.

“Right now you have a single currency but you don’t have a single set of economic policies, and that’s created great difficulty,” the President said. “Like duh, we know all about that. Just look at us if you want to see what that kind of clueless leadership gets you.”

“Europa hat derzeit zwar eine geeinte Währung, aber es verfügt über keine gemeinsame Wirtschaftspolitik. Und das schafft große Probleme.”

My Big Fat Greek Divorce

September 12, 2011 By Hermann Observer in Heconomy, Helplessness Tags: Banktruptcy, Berlin, EU, Euro, German, Germans, Germany, Greece, Humor, Satire Leave a comment

“To stabilize the euro, there can no longer be any taboos. That includes, if necessary, an orderly bankruptcy of Greece.”

You know, like an “orderly” divorce? Only this time nobody is getting the house because there’s no house to get (unless a house of cards counts).

It is not clear who is in the stronger position in the latest round of brinkmanship between Greece and the German bloc. If pushed too far, Greece can set off a powderkeg. The International Monetary Fund says European banks are highly vulnerable and need to raise their capital by €200bn. Many of the weakest are in Germany.

New Angst Study Producing More New Angst

September 9, 2011 By Hermann Observer in Habitudes, Heconomy, Hypochondria, Hysteria Tags: Angst, Atomic energy, Berlin, EU, Euro, Fear, Financial crisis, Fukushima, German, Germans, Germany, Humor, Nuclear energy, Satire Leave a comment

A new study from the R+V Insurance Company (hmmm, an insurance company) indicates that Germans have a whole new list of things to scare the Hosen off them that they didn’t have last year. Is there a pattern developing here or something?

Some of this year’s top favorites (so far) are ecological catastrophes (a perennial hit), the “super worst case scenario” that took place after the earthquake in Japan, the so-called EHEC scandal (go organic sprouts!) and those bloody and yucky revolts still going on down there in the Arabian World.

But what really scares them most is, well, their money. Or the thought of losing it, I should say. Along with their fear of rising energy costs (hmmm, where might those rising energy costs be coming from?), over 70 percent of Germans asked are scared to death of the imminent bankruptcy of a few of them there EU countries down south which will cost the German taxpayer dearly.

Hey. No angst, no fun.

70 Prozent der Deutschen befürchten, dass die drohende Pleite einiger EU-Länder den deutschen Steuerzahler teuer zu stehen kommt – keine Angst erreichte 2011 höhere Werte.

Two Speeds for Saving Europe: Slow and Slower

September 6, 2011 By Hermann Observer in Heconomy, Helplessness, Hysteria Tags: Berlin, EU, Euro, Europe, German, Germans, Germany, Humor, Merkel, Satire Leave a comment

Breaking up is hard to do. But it’s about freakin’ time already, don’t you think?

Now that it is becoming clearer and clearer that the euro crisis is not going to get fixed with the institutions at hand and the will that isn’t, Chancellor Merkel HERSELF has finally had enough and appears ready to do the one thing that will finally make everyone out there happy: Create new institutions and a “two-speed Europe” that won’t work either, but still.

What this means is, uh, I’m not sure really (can someone out there please explain this plan to me?), but I think it means creating something called a “core Europe” (the countries that haven’t filed for bankruptcy yet) run by Germany and then a “rotten to the core Europe” (all the other loser countries that nobody wants anymore) run by nobody. I mean, running on empty.

This won’t really solve anything, of course, but it’s an elegant European way of tossing in the towel and passing the buck on to someone else, in this case someone with absolutely no accountability who nobody out there has ever even heard of before: European Council President Herman Van Rompuy.

Are we having late Roman decadence yet? This divide and conquer stuff, I mean divide and save, makes me wonder sometime.

Van Rompuy doesn’t seek the limelight and enjoys writing haikus about nature in his free time.

A New Currency Order

September 1, 2011 By Hermann Observer in Habitudes, Heconomy, Helplessness, Hysteria Tags: Berlin, Currency, EU, Euro, Financial crisis, German, Germans, Germany, Humor, Monetary Crisis, Satire 3 Comments

Are we having a Reichseuro yet?

“Conceived as a tool for integrating Germany into Europe, and preventing Germans from dominating others, it (the euro) has become the opposite.”

Germany’s neighbors and allies are growing increasingly concerned about Berlin’s foreign policy direction. Some even fear that efforts to export its fiscal ideas could mean the prosperous country has lost sight of the European idea. Or worse yet, that it wants to dominate the currency union.

You will save until it hurts, I tell you! Sign ze papers old man!

Reality Bites Biting Again

August 29, 2011 By Hermann Observer in Habitudes, Heconomy, Hysteria Tags: Berlin, EU, Euro, Europe, Finance, German, Germans, Germany, Humor, Satire 1 Comment

Are we having a mutiny yet?

The seething discontent in Germany over Europe’s debt crisis has spread to all the key institutions of the state. “Hysteria is sweeping Germany.” Uh, hysteria is always sweeping Germany. So what’s the big deal this time?

It’s not all that big, really. On September 7, a 440 billion euro EU bail-out fund (EFSF) package (empowering the EFSF to buy bonds pre-emptively and recapitalize banks) goes to the Bundestag and to the country’s constitutional court for a ruling on it’s legality.

German media reported that the latest tally of votes in the Bundestag shows that 23 members from Mrs Merkel’s own coalition plan to vote against the package, including twelve of the 44 members of Bavaria’s Social Christians (CSU). This may force the Chancellor to rely on opposition votes, risking a government collapse.

So? It will pass, of course, because it doesn’t really matter what the man on the street thinks, hysteria or not. This is just another case of what happens when political dreams collide with reality. When the dreamers aren’t held accountable for what they dream, I mean. Happens all the time. No accountability, no problem. Let’s face it: Everybody’s living in the Matrix here and everybody loves it.

“Behind Winston ‘s back the voice from the telescreen was still babbling away about pig-iron and the over fulfilment of the Ninth Three-Year Plan.”

Seven Years Of Famine Or Something

August 28, 2011 By Hermann Observer in Habitudes, Heconomy Tags: Berlin, Economics, Economy, EU, Euroe, Europe, Finance, German, Germans, Germany, Humor, Satire 1 Comment

No short-term pain, no long-term gain.

“There might well be seven lean years ahead for the world economy,” German Finance Minister Wolfgang Schaeuble said in a speech at a meeting of Nobel laureates at the University of St. Gallen in Switzerland.

What he really meant was seven years of fiscal consolidation (austerity measures) in Europe (and elsewhere?). This is the key to long-term growth, he says. My, how, uh, German or something.

Jiminy Crickets. As if the ten plagues of late hadn’t been bad enough already, now the Germans themselves (they own Europe, you see, and are recreating it in their own image) are going to inflict the Pharaohs of the EU with seven years of boils, hail, locusts and darkness. In the form of austerity measures, I mean. Or maybe they won’t. Hard to say for sure. Could be that monkeys will fly out of their butts instead.

Muddy Waters knew the deal:

On the seventh hour, of the seventh day,
on the seventh month, the seventh economic witch doctor say:
“He’s born for good luck, and I know you see;
Got seven hundred euros, and don’t you mess with me.

Germany To Save Europe

August 12, 2011 By Hermann Observer in Heconomy, Helplessness Tags: Berlin, Debt Crisis, EU, Euro, German, Germans, Germany, Humor, Satire, Soros 1 Comment

Or maybe not, hard to say for sure.

But according to billionaire investor and currency-crushing “Man Who Broke the Bank of England” and therefore absolute expert on the subject George Soros (HIMSELF), “Only Germany can reverse the dynamic of a European decay. Germany and other countries with an AAA rating (sorry USA, better luck next time) have to approve some sort of euro-bond regime. Otherwise, the euro will implode.” And nobody wants an implosion around here or anything, I don’t think.

Soros also thinks that German Chancellor Angela Merkel’s reaction to the sovereign-debt crisis has been too slow. Like duh? Even non-billionaire types know that. But hey, it’s just like back home I tell ya, somebody’s got to not do it (got not to do it?).

Die aktuelle Krisenstrategie mit Krediten für Griechenland und einem von verschiedenen Ländern garantierten Rettungsschirm (EFSF) sei untragbar, schrieb Soros. So müssten Italien und Spanien mehr Zinsen für ihre Staatsanleihen zahlen, als sie selber von Griechenland für Stützungskredite erhalten.

Leaderless in Seattle

August 10, 2011 By Hermann Observer in Heconomy, Helplessness Tags: Berlin, Debt Crisis, EU, Euro, German, Germans, Germany, Humor, Obama, Satire 1 Comment

No, I mean in Europe.

Gee, this sounds just like back home. The president of the Federal Association of German Banks has strongly criticized European leaders in general and German leaders in particular for their lack of leadership in all things debt crisis.

They just let things drift along and then get driven themselves, he says. Like I said, just like back home.

“If the euro really does end up in trouble then it won’t be because of Greece, the EU’s weakest member. The monetary union will then fail because Germany, its strongest member, won’t fulfill its leadership role and says what needs to be done.”

“Wenn der Euro tatsächlich Probleme bekäme, dann nicht wegen Griechenland, dem schwächsten Mitglied. Die Währungsunion würde dann scheitern, wenn Deutschland als stärkstes Mitglied seiner Führungsrolle nicht gerecht wird und sagt, wo es lang geht.”

PS: Speaking of leadership, or the lack of it, the yes we cans seem to be dropping like flies these days.

Pirouettes and Unpredictability

July 5, 2011 By Hermann Observer in Habitudes, Heconomy, Helplessness, Hypocrisy Tags: EU, Europe, Germany, Greece, Leadership 1 Comment

We Germans call the shots here in Europe, sort of.

It’s just that we don’t know what we’re going to be calling next.

“Anybody out there still think Germany is running Europe — or for that matter can or will dominate it in time?

The question fits the moment after the German refusal to vote in favor of allied military intervention in Libya, the government’s pullout from nuclear energy largely for reasons of emotion and domestic political calculation, and its willingness last week to put off possibly decisive steps to end Greece’s debt misery.

Over a period of just about three months, that is a lot of unpredictability and policy pirouettes for allies who might have thought German leadership, on the upside, would be rational, competent and closely bound to the West.”

Observing Hermann

“Was interessiert mich mein Geschwätz von gestern?”

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