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Failure to save East Europe

By Misty - Posted on 15 February 2009

Failure to save East Europe will lead to worldwide meltdown

 They need to help themselves for Marshall Plan this time. Music was pretty, tho.....sigh.

The unfolding debt drama in Russia, Ukraine, and the EU states of Eastern Europe has reached acute danger point. Link to story.

Nevermind how global-affecting that simple Russia/Ukraine gas snafu was.

A problem with Eastern Europe, especially our NATO/EU allies there, is massive corruption within those democracies. Now sure corruption exists in all democracies, even a generally-considered "stable/safe" one like America....but too much corruption can cause people to lose faith in their civic institutions, and for Eastern Europe not used to the Democratic tradition...

 Such times is when dictatorship can return. Yeltsen's utter failure in Russia gave way for Putin to become a de facto dictator, using the messy democratic system in Russia.

Then again, Hitler used the Weimar Democracy for  his party to win legally and constitutionally to destroy the system itself.

I don't know what "Götterdämmerung" translates to, but that sounds really BAD!
"Fire of the Gods". The oldest reference I know of is Wagner's opera of the same name. I'm guessing it has similar connotations as Armageddon.

It's sad that we've reached a point where 'government service' is a dirty word... If we're the greatest country on earth, maybe we can have the greatest government.

Lewis Black

Eastern Europe showing new vulnerability

A warning from a major credit rating agency on Tuesday sent European stocks and the euro tumbling, serving as a stark reminder to investors that the financial situation in Central and Eastern Europe was deteriorating alarmingly and that the region faced a protracted slump. Moody's Investors Service, in a report highlighting the dangers of West European ownership of East European banks, warned of "hard landings" for most countries in the region and negative rating pressure on banks operating there. Those with the highest vulnerability are the Baltic countries, Hungary, Croatia, Romania and Bulgaria, Moody's said.

 Gonna be a bumpy day on the Street tomorrow. hold on!

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