Mish: EU contagion is a certainty

Once again I have to go back to the well which is Mish's blog.  Few people get it like Mish does and Mish is now observing that Euroland is scrambling to contain the uncontainable economic contagion.  Having said that, Mish is not quite as clear on an important point as I think he needs to be when he talks about economic contagion in Euroland being "certain".

To be more specific, I object to applying the word "contagion" to the current mess because it misleads people from the truth.  When you get ill you sort of consider it an act of God or perhaps random chance or perhaps simply not being careful enough.  For example, say it's flu season and Jenny Soccer Mom comes into work looking like crap and coughing and sneezing, etc.  She's around young kids all the time and so she gets sick often.  She has to come into work because she needs the money.  You know all of this and you know you should be careful around her because she is contagious.  Thus, if you get sick from her it's really partially your fault for not being careful.

That is the implication of "contagion" which I don't like because I think it's misleading.  When the PIIGS go down and France and Germany swirl the bowl it will not be because of "contagion" but rather because the whole situation was structurally and unequivocally a stinking rotten economic scam from day one.  The PIIGS wanted to consume on credit and the exporters to them -Germany and France- greedily went along with the vendor finance scheme in the hopes that exporting products to deadbeats was a get rich quick scheme.  Those who engaged in the practice early on and then got out left the debt Ponzi wealthy men.  Those who thought it was a real, viable, workable long term system (aka Patsies) are sinking fast.  ALL OF THIS WAS PREDICTABLE for anyone with a dose of common sense who could think independently.

All of this drivel about "contagion" is simply whitewash and smoke screen in order to obfuscate the fact that people can or should have known all along that the Eurozone was a con job from day one.  In fact, many smart people like Nigel Farage have been saying exactly that for many years now.  It's not a contagion; it's a stinking con game people.  It's high time to just stop with the political whitewash and call it what it is.   Failure to do this will allow the con men to re-start another massive debt Ponzi as soon as the abuses of the existing one have worked themselves out in a massive collapse that is very likely coming.

I do want to take a second to make one thing clear: I am not down on Europeans.  I pick on "Euroland" a lot only because I think that, under the guideline that those on the margin will get hurt the first and the worst, that those in the Euro zone will get whacked first and more severely than the US (and I was writing this a looong time before there were Euro-riots).  This is not because the European people are less moral or less intelligent in any way.  I have nothing but the greatest respect for the European worker.  However, they are up against the US which clearly has the best con men in the world and of course our warmongers have made sure to augment political guile and economic scammery with a healthy dose of flagrant militarism.  Put it all together and it will likely spare the US from all of the pain it rightly deserves for its role in The Royal Scam/The Grand Illusion or whatever 80s rock album title you wish to refer to the great credit con by.  The main thing we the people of the world need to do is to learn a little about how money works so that once it all collapses we can avoid letting the con men, wherever they might be, from running the show for the next 50-100 years.

Repeat after me: after it all comes tumbling down, no more fiat currency or fractional reserve lending, ever.