"There is a crack in everything, that's how the light gets in"
(Leonard Cohen)
"Ignore all proffered rules and create your own, suitable for what you want to say"
(Michael Moorcock)
"Look for your own. Do not do what someone else could do as well as you. Do not say, do not write what someone else could say, could write as well as you. Care for nothing in yourself but what you feel exists nowhere else. And, out of yourself create, impatiently or patiently, the most irreplaceable of beings."
(Andre Gide)
"I want my place, my own place, my true place in the world, my proper sphere, my thing which Nature intended me to perform when she fashioned me thus awry, and which I have vainly sought all my life-time."
(Nathaniel Hawthorne)
“A book must be the axe for the frozen sea within us.”
(Franz Kafka)
"All mankind is of one author, and is one volume; when one man dies, one chapter is not torn out of the book, but translated into a better language; and every chapter must be so translated"
(John Donne)
“Never attribute to malice that which is adequately explained by stupidity.”
(Robert J. Hanlon)
"Life is beautiful, but the world is hell"
(Harold Pinter)

Friday, June 22, 2012

EXTRACTYet, insofar as these putative ‘rescue plans’ have any reality, it is based on a fundamental contradiction or flaw. Everyone is calling on Germany to do something, but just imagine if Merkel did decide to do what many want - acceding to the creation of Eurobonds. Interests rates would then be equalised and Germany would suddenly find itself paying rates in the region of 3%-4%, as opposed to the minuscule rates it is paying now - ie, the yields on two-year German bonds recently sank to -0.012%. It would only be a matter of time before Germany started to suffer from rising unemployment, stagnation and so on - no more the European economic powerhouse.
Under those conditions, what would happen to the US and the flat-lining British economy?

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