THE ASSAULT OF THE EURO-SOCIALISTS...
It's just so predictable. A confidential document prepared for the gathering of EU Finance Ministers in Brussels finds the "short-term" pay structure of modern capitalism has become deformed, causing firms to take on "excessive risk" without regard to the interests of stakeholders or society. While there is no concrete legislation on the table, ministers are eyeing curbs on stock options, bonuses and golden parachutes. The move is a clear sign that the EU noose is tightening on bankers, funds and corporate elites.
The EU is institutionally socialist and resents the concept that capitalism allows some people to make very large amounts of money. Instead it prefers the alternative of tightly regulating how much money people working in private enterprise can earn. The Finance Ministers who now plot to limit how business can function in Euroland demonstrate just how dangerous the Eurostate will become. We need out of it but our reliance on State Welfare is our Achilles heel, exactly as the politicians planned it to be. So instead I suggest that capitalism will become increasingly "regulated" and as a consequence, Euroland will watch in dismay as business moves away from it to those parts of the world which still encourage people to make profit.
David Vance
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Goodbye City of London! There aren't many instances where the whole is LESS than the sum of it's parts, but the EU is one of them.
Excellent comment Charles!
>>THE ASSAULT OF THE EURO-SOCIALISTS...<<
..ahem!.. David, this move is being pushed by Angela Merkel, a rock-solid conservative (and one of the few friends G.W.Bush has in Germany).
Merkel's a German commie.
"The move is a clear sign that the EU noose is tightening on bankers, funds and corporate elites".
The City will be just fine, half of it is German! Oh thank GOD thank GOD thank God - or Merkel. Yes! Finally! I hope this is true. Capitalism my ass! Corrupt jerks who screw it up for the rest of us finally get their comeuppance.
Thank you Daphne!
Alison, wasn't it The City that created corporations in the first place? Why are you now content to let ex-communists tell England how to create wealth?
After all, it was Adam Smith who wrote The Wealth of Nations , not Adam Schmidt! ;)
I couldn't give a crap who tells that corrupt bunch of nutters but they need sorting. You all seem under the illusion that these City guys are proper or genuine old fashioned capitalists!
Actually, in late 19th century America there existed the uber-capitalists, the so called robber-barons, who were busted up by the government. So capitalism is not without governtment intervention. Capitalism relies on the rule of law for it's existance.
But the EU doing it? I have my doubts.
>>Merkel's a German commie.<<
Daphne, in the sense that McCain, the entire Democrat party and the Pope are Communists, you are right.
Exactly Noel - you're so perceptive!
So instead I suggest that capitalism will become increasingly "regulated"
Let's hope so! It was unregulated capitalism that brought about the debacle of the credit crunch, and we are now seeing the greedy, stupid, unregulated banks going cap in hand to the state for a liquidity bail-out, and getting it of course.
Hey David - you and I should become Anarchists. We despise everyone in politics!
Merkel is a commie!
I guess that the EU should also ban the lotto, as an individual makes millions but does little work for the money!
Communists make no sense Charles.
BTW, I thought Merkel was flavour of the month a while back, when she was making pro-Bush sounds, and was hearalded as the Great Right Hope (they were admittedly bleak times for the right in general at the time).
Whence this fall from grace?
Did she become a communist when she refused to send German troops to southern Afghanistan?
Noel, that's a reasonable question. Merkel was and is seen as someone we can do business with. She's helping out as best she can in the war, and is seen as more cooperative than Britian's Labour government, in words anyway.
Noel, don't listen to Charles, he's a good hearted, loyal soul who still likes Bush. :-)
All politicians are communist tyrants at heart, they want to control our money and lives.
Noel Cunningham -
Merkel isn't a straight old fashioned communist, but she's certainly an uber-statist and has cultural Marxist leanings.
She grew up in East Germany and was Secretary for Agitation and Propaganda in her branch of the communist Free German Youth. Now this happened in her younger days, you'll say. Well if it's ok to point out that the Pope was in the Hitler Youth it's at least as legitimate to point out Merkel's history in an equally evil regime.
Good points, Pete.
"uber-statism" is probably inevitable now in that part of Europe.
Actually I have first-hand experience of the East German regime; however, while it was a despicable and criminal tyranny, it still wasn’t nearly as bad as Hitler and his henchmen.
Merkel the "commie" takes on the City "capitalists". I think it sounds good!
"It was unregulated capitalism that brought about the debacle of the credit crunch,...."
Peter, we've been here before but the goings-on in London are not the workings of capitalism: it's corporatism. Corporatism knows no country, has no people or nation - it has no allegiance to anybody. Those who work within its system are corporatists who know no country, have no patriotism or kindred spirit with a people. They are itinerants who worship and love money, and nothing else.
Actually I have first-hand experience of the East German regime; however, while it was a despicable and criminal tyranny, it still wasn’t nearly as bad as Hitler and his henchmen.
Wednesday, May 14, 2008 at 08:53AM | Noel Cunningham
Please continue, Noel. Usually the only westerners allowed into East Germany were those who would be useful to them.
>>Usually the only westerners allowed into East Germany were those who would be useful to them.<<
You don't know what you're talking about, Allan. Everybody was allowed into East Germany, unless there was some specific barring order against the individual.