Tuesday, May 08, 2012

Europe is Screaming

Someone made the good point after my last post that it is interesting that Munch’s The Scream should have been sold now, in light of events in Europe. We are coming up to the first exact Uranus-Pluto square next month, and Greece has just had a general election in which the pro-austerity parties have not been able to form a government. Greece may not have a government now until next month, when it may have further elections.

Whichever way it goes, Greece seems unlikely to put further cuts in place, a condition for the next bail-out from the EU. The only options for Greece seem to be spending cuts (more pain) or going broke and withdrawing from the Euro (even more pain.) The mood of the country seems to favour the latter. People have had more than enough of austerity imposed by Germany and others. Even in France, which is a long way from bankruptcy, an anti-austerity president has just been elected.

A desperate collective is taking over in Greece, and is likely to act from instinct rather than rationality. This could happen very quickly, in a matter of weeks, now that the pro-austerity parties are no longer in power. What it probably means is chaos. Greece has been screaming for some time, and it may spread across Southern Europe. After Greece come Spain then Italy. If Greece defaults and withdraws, it will have set a precedent for other, larger economies. People there will be thinking do we want to be destroyed twice like Greece, first by centrally imposed austerity measures and then by going broke, or shall we just go broke?
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What happens then? I’m sure the rest of Europe will manage to keep its institutions, and the Euro, in place. We in the north may breathe a sigh of relief. The southern economies will have a very grim time for a few years. But Europe has become close, and the Eurozone will probably do what it can to help its bankrupt members recover.

It is the resisting of the inevitable which is often the most painful part. Uranus and Pluto operating in tandem cannot be resisted indefinitely. The first square may just do for Greece. But then there is another square in September, and 5 more after that. Pluto does a thorough job when he dismantles something. Nothing of the old is left, and I think we can be confident that one way or the other nothing of what was unworkable about the Euro will remain in 3 years.

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3 comments:

omphale said...

Highly recommend that you read the excerpts from an article by Economics Professor Bill Black on 'jessescrossroadscafe.blogspot.com'. It's entitled " Austerity During a Serious Recession is Economically Insane - A Warning from History". In describing what is going on in Europe, Bill Black illustrates for we astrologers the different goals/faces of Pluto/Capricorn vs Uranus/Aries. Very informative. There's a link to the entire article for those interested.

8:27 pm, May 08, 2012
Anonymous said...

Also see Martin Armstrong fundemental analyse of currencies and politic's..

http://www.martinarmstrong.org/files/Saving%20The%20World/index.htm

9:04 pm, May 08, 2012
Sara said...

I think these events are even more peculiar in their relationship (by timing) to the recent news that J.P. Morgan Chase has lost $2 billion from investing in credit default swaps, which started this entire financial debacle in the first place. Now Chase has received a downgrade in its credit rating.
What other debacles are we going to revisit? Will we get a warning?
I'm in the "holy cow!" state right now.

10:47 pm, May 13, 2012

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