Mikey, a couple months ago you said the Euro was OK

[Kramer]

What happened?

[Michael Tee]

Greece happened.

It'll take a few more bumps on the road too, but fundamentally it has way more potential than the USD.  I think they took in too many former Soviet bloc countries too soon, but there were political reasons for that.  Economic pressure will straighten them out.  Generally, for national currencies, I'm a believer that bigger is better.  A bigger internal market and more potential for economic diversification too.  Partially offset in the EU by nationalism which prevents more unified political control.  I'd still bet long-term on the euro.

[BT]

So you would be in favor of the amero?

[Michael Tee]

In theory, sure, but in practice I see the USA today as a lot more self-destructive than Europe and a lot more torn by racial inequality.  I'd say that both Mexico and the US are "sub-European" in that they are less confidence-inspiring than any of the Western European countries.   Mexico because of sheer incompetence and criminality and the US because of its self-destructive ethos. And I don't know how long Canada would be able to keep its social safety net if it adopted a common currency with the US; with Mexico?  Fuchgeddabaowdit.

[BT]

So then bigger is not always better

[Xavier_Onassis]

The Euro made good sense, as there were over 20 countries in the area, each with its own currency. The Amero makes less sense. While Germany, Italy and France are all similar in size, there is a huge economic difference between the US, Canada and Mexico. It would be a disadvantage most of the time for the Canadians and the Mexicans because of this disparity, and politically, it would be very divisive in the US among various regions and factions.

[BT]

The Euro made good sense, as there were over 20 countries in the area, each with its own currency. The Amero makes less sense. While Germany, Italy and France are all similar in size, there is a huge economic difference between the US, Canada and Mexico. It would be a disadvantage most of the time for the Canadians and the Mexicans because of this disparity, and politically, it would be very divisive in the US among various regions and factions.

Good argument against.

[Michael Tee]

<<So then bigger is not always better>>

"Better" is the net result of a number of factors.  "Bigger" is one of the factors, a very important one, but not important enough to decide the outcome in all cases.

[Kramer]

Greece happened.

It'll take a few more bumps on the road too, but fundamentally it has way more potential than the USD.  I think they took in too many former Soviet bloc countries too soon, but there were political reasons for that.  Economic pressure will straighten them out.  Generally, for national currencies, I'm a believer that bigger is better.  A bigger internal market and more potential for economic diversification too.  Partially offset in the EU by nationalism which prevents more unified political control.  I'd still bet long-term on the euro.

So 1 country smaller than Calif is taking down the Euro?

[Michael Tee]

It's more than Greece now, it's the precedent.  The Germans don't want to be the go-to guy every time another EU member fucks up and needs a handout.  And there are other EU member states nearing bail-out status too.  Germans are not prepared to carry the whole load on their own backs.

But my bet is that Germany will bail out the Greeks this time and make it conditional on some general belt-tightening.

[Kramer]

It's more than Greece now, it's the precedent.  The Germans don't want to be the go-to guy every time another EU member fucks up and needs a handout.  And there are other EU member states nearing bail-out status too.  Germans are not prepared to carry the whole load on their own backs.

But my bet is that Germany will bail out the Greeks this time and make it conditional on some general belt-tightening.

My point a couple months back is socialism in Europe has ruined the Euro. Socialism in the US is ruining the USD too. Socialism is cancer.

[Michael Tee]

<<My point a couple months back is socialism in Europe has ruined the Euro. >>

Two points:  1) The euro, far from being ruined, is still stronger than the USD; and 2) most of the EU countries are more socialistic than the USA, so according to your theory, it must be European socialism that keeps their currency (which started out equal to 2/3 of a US dollar) superior to your currency.

<<The Socialism in the US is ruining the USD too. >>

I would say that it was the cost of fascism, militarism and aggression that has ruined your dollar.  Socialism barely exists in the USA.

<<Socialism is cancer.>>

If it is, then what your country needs is a huge case of cancer.

[Xavier_Onassis]

Kramer has a mind like a steel trap, doesn't he?

Rush tells him what to think, it would seem.

[Kramer]

Kramer has a mind like a steel trap, doesn't he?

Rush tells him what to think, it would seem.

and XO has a mind like a sieve.

obama tells you what to think, it would seem.

You have never been able to defend your liberal positions because they make no sense and aren't defensible.

[Xavier_Onassis]

I defend my positions quite well, It's just that your mind is incapable of logical reasoning.