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This is an intriguing article at talking about how the US will have to bail out the European superstate.  It is the TARP argument all over again:

This is more than ironic. It is unreal, tragic in fact, because everyone around the conference table will know that a collapse of the euro would not only be a calamity for Europe but also a disaster for the United States.

And this:

If countries at the very center of the global economy shift to new currencies in a panic and at a time of global recession and large-scale defaults, the complex web of transactions underpinning international trade and finance will be stretched to the breaking point. *  *  *  Stress tests to see how currency systems would work in the event of a euro breakup show unequivocally that a very long time and large resources would be required to get the global systems functioning smoothly again.

Remember when virtually everybody said, “We must pass TARP” or we’ll have a depression!  When senator McCain agreed with candidate Obama on the need for TARP, the election was over.  There was nowhere for conservatives to go.  And when the House dared vote NO on TARP the first time, the elites, taking a page from the EU playbook forced enough House members to switch to pass TARP.

Well, I don’t believe the alarmists then and I certainly don’t believe these writers now.  But writers like this are trying to prepare the American people for the EU bailout:

Instead of traveling all the way to Europe, Secretary Geithner should take a car ride down Pennsylvania Avenue and tell a recalcitrant Congress the bad news. Europeans cannot handle this crisis on their own. Germany, the only country in the euro zone that is remotely safe from a market panic, can help Greece, but it cannot rescue Italy and Spain. German debt is already 80 percent of GDP, and Italian debt alone exceeds it. *  *  * If the United States does not act, all bets are off. We may well have a Lehman repeat, or perhaps worse: the bad debts are much bigger, and so much fiscal and monetary ammunition has been spent already. Europeans will long remember that we stood aside in their time of need. Moreover, if China, Brazil and Mexico end up helping (they seem amenable provided Europe gets its own act together) but we are missing in action, the blow to our prestige will be immense. Europe and the whole world will see it as irrefutable evidence that America’s days as global leader are numbered.

Thankfully, the American voter has a choice!  You can say NO to the Second TARP to subsidize the EU empire by voting for Ron Paul for President!

About Elwood Sanders

Elwood "Sandy" Sanders is a Hanover attorney who is an Appellate Procedure Consultant for Lantagne Legal Printing and has written ten scholarly legal articles. Sandy was also Virginia's first Appellate Defender and also helped bring curling in VA! (None of these titles imply any endorsement of Sanders’ views)

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Tom White Says:

Nothing is more conservative than a republican wanting to get their majority back. And nothing is more liberal than a republican WITH a majority.

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