Europe gloating over US' struggle

Europe (and the World) demonstrates it's jealousy of the US
Take note, and never forget.

Despite what the Liberals would want you to believe, there's nothing that a Barack Obama, or any other American critic of the US' policies, wealth, strength, freedom, capabilities, history, and political, racial, and economic freedom could do to change the comments of those who are outside, with noses are pressed against the window of the US,  say about us.  It will always be negative!  They can never acknowledge any superior capabilities of the US, because it would diminish them, and they are too fragile to deal with the contrast.

Despite the almost century of US generosity  towards the rest of the world, like any reluctant child, resent our help, success, and independence of their support.

The latest news out Europe demonstrates their uncontainable glee at our struggle.  This, despite the fact that unless we configure the solution to the financial market chaos, they will perish.

Those who wring their hands at Europe's critique of us should take note.  Attempting to appease Euorpe's
perpetual pique at playing second, or even third, fiddle to the US' solo, is a Sisyphean task.

Here's the latest glee over our struggle to devise a solution to the financial market crisis.

GLOBAL ECONOMY

Europeans on left and right ridicule U.S. money meltdown

A street scene near London's financial center. Among Europe’s economies, Britain’s most resembles America’s in its vulnerability. Europeans cited Alan Greenspan and greed as culprits in the Wall Street meltdown.

They list greed and Greenspan among the culprits, and there are comparisons to . . . Albania. But amid the gloating, there is fear for financial systems in Britain, Spain, Italy and elsewhere.

By Sebastian Rotella and Janet Stobart, Los Angeles Times Staff Writers

September 20, 2008

LONDON -- It's a rare day when finance officials, leftist intellectuals and ordinary salespeople can agree on something. But the economic meltdown that wrought its wrath from Rome to Madrid to Berlin this week brought Europeans together in a harsh chorus of condemnation of the excess and disarray on Wall Street.

The finance minister of Italy's conservative and pro-U.S. government warned of nothing less than a systemic breakdown. Giulio Tremonti excoriated the "voracious selfishness" of speculators and "stupid sluggishness" of regulators. And he singled out Alan Greenspan, the former chairman of the U.S. Federal Reserve, with startling scorn.

 "Greenspan was considered a master," Tremonti declared. "Now we must ask ourselves whether he is not, after [Osama] bin Laden, the man who hurt America the most. . . . It is clear that what is happening is a disease. It is not the failure of a bank, but the failure of a system. Until a few days ago, very few were willing to realize the intensity and the dramatic nature of the crisis."

In an interview Thursday in the Italian newspaper Corriere della Sera, Tremonti drew a comparison to corruption-ridden Albania in 1997, when a nationwide pyramid scheme cost hundreds of thousands of people their savings and ignited anarchic civil conflict.

"The system is collapsing, exactly like the Albanian pyramids collapsed," Tremonti said. "The idea is gaining ground that the way out of the crisis is mainly with large public investments. . . . The return of rules is accompanied by a return of the public sector."

On the other end of the political spectrum, among leftists who have long predicted calamity for what they call the "savage neoliberal capitalism" of Wall Street, there were gleeful allusions to the stock market crash of 1929.

"Between the dread of a world in the midst of collapsing and the shiver of pleasure that finally something serious is happening to the kingdom of liberalism, how to orient oneself?" Eric Aeschimann wrote Thursday in the newspaper Liberation, a voice of French intellectuals whose disdain for capitalism persists in the 21st century. Expressing nostalgia for "the good old days when bankers jumped out of windows," Aeschimann condemned as "extortion" the rescue of U.S. corporate giants by the very state that free-marketeers resent.

The spectacle across the ocean has left a lasting impression on many Europeans. Hanna Evers of Berlin, a cellphone retailer interviewed in the shopping district of Wilmersdorfer Street, said she was angry about the amount of money that had been "burned" in recent days.

"And I'm furious when I see the pictures of Americans who thought they were on the sunny side of life and now have lost their homes and have to live in their cars," Evers said. "I definitely do not feel sorry for the bankers who lost their jobs in the last couple of days. I can't believe that a country like the U.S.A. could have been so careless on a money issue!"

"I was taught that the U.S.A. is the motherland of moneymaking," she added. "And now all I can see is a herd of headless chickens running around on Wall Street."

Rotella reported from Madrid and Stobart from London.  MORE....