WTF?!?! US To Bailout European Union!!

[sc281]

http://www.cnbc.com/id/40454469

The United States would be ready to support the extension of the European Financial Stability Facility via an extra commitment of money from the International Monetary Fund, a U.S. official told Reuters on Wednesday.



"There are a lot of people talking about that. I think the European Commission has talked about that," said the U.S. official, commenting on enlarging the 750 billion euro ($980 billion) EU/IMF European stability fund. "It is up to the Europeans. We will certainly support using the IMF in these circumstances."

"There are obviously some severe market problems," said the official, speaking on condition of anonymity. "In May, it was Greece. This is Ireland and Portugal. If there is contagion that's a huge problem for the global economy."

The remarks foreshadow a visit to Europe this week by a U.S. Treasury envoy who is expected to visit Berlin, Madrid and Paris to hold talks on the ramifications of the debt crisis.

The developments have echoes of the pressure applied by Washington on European capitals last May to create the near $1 trillion EFSF safety net that was last week used to rescue Ireland after its banking crisis spiraled out of control.

The IMF, whose biggest single shareholder is the United States, has committed 250 billion euros to the EFSF.

While reluctant to dictate to Europe how it should address the unfolding debt crisis, the U.S. government is growing concerned about the global fallout of Europe's predicament.

U.S. Treasurys' prices fell and the euro strengthened against the dollar on Wednesday after the news that the United States would be prepared to support an enlarged EFSF.

Germany, whose leaders have expressed frustration at the market backlash against their plans to solve the euro zone's debt problems, does not want to make the stability fund larger.

[Sgt Beavis]

Doesn't something like this need congressional approval?

If so, go luck getting through the new House.

[46Tbird]

So we're going to borrow money from China to hand over to the Europeans? WTF

[Slowhand]

Jesus. Just when I think I can't be any more baffled by the things our government does...

Hell, many European lawmakers are beginning to bail on the idea of the EU. It's the whole goddamned reason their financial woes are spreading like the plague.

[8mpg]

So we're going to borrow money from China to hand over to the Europeans? WTF

No shit...nothing like paying BILLIONS in interest to the Chinese so we can hand it do dumbasses that cant manage their own economy

[Vertnut]

So we're going to borrow money from China to hand over to the Europeans? WTF

That's EXACTLY what we're doing! I wrote a paper in college, taking the "pro" stance to Isolationalism. It actually was focused on the interim between WWI-WWII. I'm beginning to think it might be the way to go.

[Broncojohnny]

Where have you guys been? We bailed out the world in 2008.

http://www.cnbc.com/id/40453506

We bailed out everyone, our banks, foreign banks, other countries, companies, whatever. But what no one wants to talk about in these little alarmist threads is that the Fed made money doing it.

The Fed doesn't need to borrow from China either, it creates money out of thin air.

[OldGuysRule]

Where have you guys been? We bailed out the world in 2008.

And we'll keep doing it.

Who do you think is buying those Euro bonds? Greece and Spain?

[Denny]

And people wonder why the dollar's index is as high as it is. They're running from the Euro!!! As bad as the dollar is, the Euro is even worse shape. Go with the lesser of two evils? Just find another evil? LOL

Look at what Eric and Al said! We've already bailed the WORLD out many times over. Most of that time we don't even REQUIRE payback, let alone ask. And for what? To keep doing it again.

This isn't rocket science, people. This is front row seats to a demise. It's the loudest calm before the storm in the history of calms before storms!!! Yes, I'm a little tipsy, but who isn't?

Just wait until these municipal bonds start hitting home. There's your next domino effect along with the housing defaults. Ya, it hasn't hit bottom yet. All these banks holding their foreclosures to hide losses. Wait until early 2011... SHIT!

When we get all these foreclosures running after the "gains" for 2010 are tallied, then BOOM! And what happens when the house gets foreclosed? Well, the bank takes a loss, but also the city where the house is now does too. No taxes or anything but empty space, taking up room in a town with limited space. YTou think "foreclosuregate" has passed?

I don't know if I'm already off subject, but a Kung Fu movie sounds better than typing to a world that doesn't read the post.








Fuck me and good night.

[46Tbird]

I read the post. Fuck you and goodnight dude! :biggrin:

[racrguy]

I read the post. Fuck you and goodnight dude! :biggrin:

^this. Sometimes you come off as a bit tin-foil-hat like, but I still read 'em.

[Denny]

LMAO! I love reading my own drunk posts. Hell, sometimes I make better sense.

Anyway, we're the largest purchaser of our own screw-ups and also other nations' screw ups. Without our permission (anctually against our will), we are picking up the world's tab, knowing it'll fail. Then "We the People" are going to be sucked dry in taxes to try and recover as much of the loss as possible.

Agaist

Our

Will

[Denny]

[YALE]

It makes sense from a currency war standpoint, and all it does is mire the Euro in further debt, strengthening our dollar's relative position. Our goods will cost them more from our perspective, and we can ease trade tarrifs with the Eurozone and out compete them at the same time. It could, and I stress could end up helping us.

[Denny]

Sadly, though, I think all it will do is prolong the inevitable.