Wednesday, November 09, 2011

Actually he said you All Suck

Not just the EU:

Using language recalling German tabloid depictions of "lazy Greeks", the chairman of China's sovereign wealth fund has said the EU as a whole suffers from "sloth" and "indolence."
Ah! No! It’s that slow food sort of quality of life thing, not parasitism and indolence! Besides, he was talking about all of Europe, not just the EU.
"If you look at the troubles which have happened in European countries, this is purely because of the troubles of a worn-out welfare society. I think [the EU's] welfare laws are outdated. The labour laws induce sloth, indolence. The incentive system is totally out of sink," he said.
After much consternation about whether or not the self-appointed Gods of the universe would “let” those un-classy go-go-all-business Chinese use their CIC to buy ECB bonds, Jin asked the real question:
Our people would ask: 'Hey. Are you sure we can get a fair return on our investment?'"
Of course not. That’s why the market isn’t buying. It’s why the yield on the Greek 2 year is nearly 100%, which is more than what any loan shark will take on risk.

Do you really think the Chinese what to lend money to an entity inhabited by people generally sympathetic to revolutionary Communism who might nationalize their assets?