Results and yet ..

Last week I closely followed four stories. None of the results were in any way really pleasing. Except maybe for the drubbing Merkel and more important Westerwelle received, but that’s just me.

Gulf of Mexico Oil

The Oil slick in the Gulf of Mexico cannot be stopped.

The dome that was supposed to funnel the oil from the well into ships on the surface has failed. BP and everybody else are at a loss with what can be done about it.  I submitted the above link to reddit and the discussion there starts with a toungue in cheek remark to “nuke it” and results in some serious discussion of whether this was possible. Yes folks, the situation is that desperate.

UK elections gave us a result, but no government.

Forget about the dire warnings of “senior bankers” that a government pact rather be quick, but from what I see there is no real compatibility amongst the prospective partners of a coalition to lead to a lasting government. Electoral reform is necessary, but how much will come out of it, if the parties you can choose out of still suck?

The elections in Germany’s biggest Bundesland (state) ends in  a tie and gets the German government in a fix.

That’s wat Angela Merkel needed most. Instead of wiping the sweat of  a heroic rescue mission from her brow (see below) she returns to Berlin as a sad loser. By her own making. Or rather, by her own government, cause her junior partner helped this defeat along a goodish bit. Germany being the biggest still functional economy in Europe, this will have an impact.

The EU agreed on an financial umbrella for debt stricken members, which amounts to € 750 bn (almost $ 1 trillion) .

Markets are upbeat about that. Up somewhere between 4% and almost 7%  today. Now what is it really? The secure feeling that the Euro and with it European economies are really more stable now, or the prospect of another trillion dollars in liquidity on their way right from European taxpayers pockets  into the assets lists of international banks?

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3 thoughts on “Results and yet ..

  1. Not over yet, fat lady hasn’t sung.

    Add the libs to lab and you have a 315 seat minority still. Not enough to govern. You then have to start trading with all those nationalist parties in order to get to 326 (actually only 324 because the Sinn Feiners will not show up in parliament ever).

  2. Clusterfuck Nation covered the European debt solution. Its very simple – they are creating money for nothing (todays’ Clusterfuck is called ‘chicks for free’) and from nothing. The aristos once again cover up for their failures by debasing the currency yet again and screwing the peasant/serf classes, which are larger and larger than ever.

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