Tag Archives: euro

What Annoys Jeff this Week?

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Europe. Since the time of Charlemagne, and Augustus before him, otherwise bright people have been trying to figure out a way to bind Europe together into something that approximates a single political entity. Charles V made a pretty solid showing during his reign. Henry VIII harbored his own dreams of European empire. Napoleon tried twice and Hitler damned near accomplished it. What do all these incredibly successful historical leaders have in common? Oh yeah, they all failed to unify Europe. By that light, I’m not sure why anyone is particularly surprised that a group of less inspiring bureaucrats in Brussels are having a tough time holding together a European Union. In the long run I think they best they can hope for is coming up with a dignified exit strategy. Even if the EU isn’t finished, it’s bound to look a lot different than the one they dreamed up at Maastricht in 1992.

Burger King. I love bacon about as well as anyone I know, but I’ve never sat here at home eating a bowl of ice cream and thought to myself, “Self, you know what would make this ice cream better? Bacon bits and a crispy slice of fried goodness.” I’m sure my fellow Americans will line up to buy this new bacon sundae, but as much of a glutton as I am, I’m afraid I’ll have to take a pass on it. It really just sounds like one of the most god awful ideas ever.

Drones. I’m tired of people spazzing out about unmanned aerial vehicles being the next wave of big brother keeping an eye on everyone. If Uncle Sam was really that interested in knowing what we’re up to, don’t you think maybe he has more sophisticated methods than sending a remote controlled helicopter to give you and me the once over? It’s cute when people are so paranoid that they can’t see the forest for the trees.

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Regardless of what you call it, when you creditors agree to write off 50% of your existing debt you are, by definition in default. Call it a haircut. Call it a Pontiac. It’s a default. Period. End of story. Fortunately, the world is polite enough to call it something different in the hopes that no one will notice and in the process they can prevent the European Union from flinging itself apart. When the rest of the world goes to all this trouble, the polite thing to do would be to say thank you and then go on about the business of trying to salvage your national economy. But that’s not your style is it, Greece. Oh no. You’re going to ask you voters, who have already demonstrated their inability to face reality, vote on the idea as a national referendum. Seriously? Are you trying to make a name for yourself as the go-to country for dysfunctional government? As a citizen of the United States, I thought we had a lock on that one, but you’re making a damned good run at it.

Look, it’s only a matter of time before the rest of us have to take our share of the bitter, bitter austerity medicine. Yes, it sucks being the one stuck going first but that was just the luck of the draw. Could have happened to any of a dozen debtor nations. We can kick and scream that it’s not fair until we’re all blue in the face, but guess what… the universe doesn’t care about fair. We can do the hard things now, while we still have some options, or we can wait a while and then spend the next two decades just reacting to things that could have been avoided if we’d have taken action sooner.