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ISU LESEN JUDI BOLA PIALA DUNIA


KENYATAAN MEDIA
21 Mei 2010 (JUMAAT)

ISU LESEN JUDI BOLA

Adalah menjadi hasrat Kerajaan Negeri Selangor menjadikan Selangor negeri idaman, maju, sejahtera dan berkebajikan, antara teras utama ialah memacu pembangunan modal insan. Pelbagai program telah dirancang untuk melahirkan satu masyarakat cemerlang yang mampu mendokong aspirasi semua mencapai kemuncak kejayaan berada di dalam sebuah negeri ‘baldatun tayyibatun wa robbun ghafur’ yang bermaksud negeri yang baik, maju, selamat, sejahtera dan diampun dan dirahmati oleh Allah SWT.

Kerajaan Negeri Selangor melalui Jawatankuasa Tetap Pendidikan, Pendidikan Tinggi dan Pembangunan Modal Insan sentiasa berusaha untuk melahirkan modal insan yang berkualiti sebagai penjana pembangunan lestari dan rabbani. Dalam masa yang sama, pelbagai program mitigasi ‘insan liabiliti’ yakni kategori insan yang terjebak dalam aktiviti penagihan dadah, mencuri, merompak, menyamun, merasuah, merogol, merosak harta benda, gian arak dan lain-lain, termasuk judi, disusun untuk meminimakan kerugian kepada masyarakat.


Segala perancangan yang baik, segala pelaburan wang ringgit, masa, tenaga manusia, aset dan sumber lain tidak akan memberi kesan positif yang diharapkan sekiranya kegiatan negatif yang menghancurkan kelompok manusia yang menduduki negeri itu tidak ditangani dan dikawal. Ramai isteri, anak-anak kepada golongan yang sudah terbabit di dalam aktiviti perjudian merana dan terbeban dengan natijah kompleks yang membelenggu hidup mereka hingga ada yang mengancam nyawa. Ini perjudian kecil-kecilan.

Sekiranya kerajaan Malaysia mengambil keputusan mengiktiraf perjudian dengan memberi lesen kepada syarikat gergasi judi maka ini akan memberi petunjuk yang teramat negatif dan membimbangkan khususnya generasi muda. Kerajaan Malaysia yang memperakui perkara mungkar ini akan menjadi ibarat pepatah ‘guru kencing berdiri anak murid kencing berlari’. Jangan marah kalau rakyatnya terutama sekali pelajar muda ‘kencing berlari’.

Maka, saya selaku Pengerusi Jawatankuasa Induk Menangani Gejala Sosial Kerajaan Selangor dengan ini meminta kerajaan Malaysia menarik balik kelulusan lesen judi Piala Bola kepada Syarikat Berjaya serta merta.

Yb Dr Hjh Halimah Ali
Pengerusi Jawatankuasa Induk Menangani Gejala Sosial Negeri Selangor
Merangkap Exco Pendidikan, Pendidikan Tinggi Dan
Pembangunan Modal Insan Negeri Selangor



Bantahan lesen judi di seluruh negara

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MAJLIS PELANCARAN DEWAN HIMPUNAN PENYOKONG PAS PERINGKAT KEBANGSAAN

Read More “MAJLIS PELANCARAN DEWAN HIMPUNAN PENYOKONG PAS PERINGKAT KEBANGSAAN”  »»

U HELP ME I HELP U WITH MY VERY OWN MONEY

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MEDICARE IN USA: DOCTORS NOT ALLOWED TO CARE ABOUT MONEY (PART 2)

An American psychiatrist summed up what may be the gut-level issue that plagues everyone who charges for services. He quoted an old Russian proverb: "The doctor is an angel when he tenders his cure and a devil when he tenders his bill."


Why Aren't Doctors Allowed to Care About Money? (Part 2)

By Leslie Kane/Medscape

Introduction

As politicians dither over Medicare cuts, Medscape readers are angry that society expects them to not be concerned about the bottom line.

A couple of consumer surveys had shown that some people wondered why doctors were not universally delighted with the healthcare reform plan. Respondents felt that doctors should be so pleased at the expanded coverage that they'd ignore their own income concerns.

When this question ("Why aren't doctors allowed to care about money?") was posted on The Kane Scrutiny blog on March 25, I suggested 3 possible answers to the question: (1) Consumers feel that doctors still make enough money; (2) people in helping professions aren't supposed to care about money; and (3) patients have an emotional need to believe that their physicians care only about patient well-being, not about money.


Reader Response

Medscape reader response was impassioned. Tens of thousands of physicians and healthcare professionals read the article, and over 380 physicians wrote in to express anger, sadness, and frustration. Many Medscape readers bemoaned the fact that society has lost its belief in the value of physicians' services and expertise. Some doctors chastised their own profession for allowing this situation to develop. Others said that the general public simply has no inkling of what it takes to become a physician and the level of responsibility carried on a daily basis.

Many responses provided keen insights and some useful venting. Several themes emerged:


The Medical Profession Is Different From All Other Professions

No doubt about it: Medicine has always been infused with an aura of altruism, and people expect doctors to be fulfilled by the knowledge that they're helping others. However, that doesn't allow for reaping financial rewards from their work. An anesthesiologist commented, "My plumber with no student loans, no education, and accepting only cash payments has an easier and more profitable career. Yes, medicine is a very altruistic career, but altruism doesn't pay for college, graduate schools, mortgages, food, etc. The CEO of United Healthcare with $23,000,000 in earnings last year couldn't give a hoot about the altruism in medicine."

Another anesthesiologist said, "Doctors are allowed to care about money, as long as no one's life depends on the service they provide. No one is proposing that plastic surgeons be required to provide a certain level of free care. That's the paradox -- the more life critical one's specialty is, the less they are afforded the opportunity to care about what they make."

"What really concerns me amongst people who are critics of physician salaries is the notion that physicians shouldn't care about their incomes," said a general surgeon. "This is a disrespectful and ignorant point of view that serves only to dissuade capable individuals from choosing a career as a physician in the first place."

People Resent Doctors' Success...

Both the material rewards and the general status accorded to doctors probably rankle many consumers. An emergency medicine physician said, "The two bases of human emotions are envy and greed. Joe Average is envious of physicians' status and earning ability, although he knows he was not smart enough to get the required training or disciplined enough to complete it. The latter emotion, greed, is simpler: He wants everything for free...We can't overcome these basic instincts. We have to watch out for ourselves. Ricky Nelson once sang, 'It's all right now, I've learned my lesson well, I can't please everyone, got to please myself. '"

An endocrinologist asked, "For all these patients who think that doctors make too much money, I would like some answers. Why is it okay for the entertainment world (athletes, movie stars, television personalities) to be millionaires? Is it not okay that your doctor who had to endure twelve or more years in medical school and residency be compensated for this? Should your doctor who works overtime every week be compensated for this? I believe every person has a right to be compensated for their achievements and success. I don't believe in redistribution of wealth. If people are constantly given everything for free, where is the motivation to excel in life?"

Another reader posted this comment: "It's not the doctors who make 90k or the ones who make even 200k that have most people thinking that costs could come down. It's the doctors who make 500k per year while someone with a 50k salary and a family of four might not be able to afford health insurance."

One family physician summarizes the irony of actually being an altruistic doctor: "It seems I help treat the needy and we see patients milking the system. We are in danger of being sued by the 'cannot make happy group.'"

....But Physicians Deserve Their Salaries

The years of medical school, the long hours, debts, and sacrifice seem to be irrelevant to many outside the medical profession. One preventive medicine physician noted, "At present, before expenses, the roofer gets $8 an hour more than my professional fee BEFORE EXPENSES; the electrician $12 an hour more, the mechanic, $13 an hour more and the plumber $30 an hour more." Added a psychiatrist, "My plumber, my TV repairman, the guy who mows the lawn, all demand immediate payment. Don't we all at least deserve as much respect as them?"

Said a cardiologist: "Our salaries are because we work our butts off, give up time with our families to take calls and work weekends, deal with stress most business people could never imagine (telling someone their mom has died or is dying, etc.), studied hard AND LONG (anyone get a chance to really enjoy their 20s or even early 30s? Didn't think so), and we should never have to apologize for being successful through diligence and sacrifice."
Are Doctors Partly to Blame?

A number of readers felt that doctors have abetted the decline in reimbursements.

"Doctors have allowed the insurance companies and other payers to substitute for their own collection efforts," said an emergency medicine physician. "Because of this, they have become even more uncomfortable with receiving payment in any other way. We have suckered in for 'the only ethical way to receive money is if others just GIVE it to us.' We didn't take responsibility for our own incomes and that is why we are here. It was just easier to let 'the big daddy' do it -- albeit with huge pressure from 'the big daddy.'"

A urologist added, "We have failed to take control of our collective destiny for years. When you participate in a cents-on-the-dollar agreement with an insurance company or accept crummy reimbursement from Medicare/Medicaid, you are giving up your autonomy. We gave it up years ago, and now it will haunt us. "

The Herculean effort required for doctors to get paid is also unseen by patients. One reader's suggested solution is to change the current procedure so that patients -- instead of doctors -- submit claims to insurers. Suggested an anesthesiologist, "It's time that physicians make patients deal with the insurance companies and get their medical care paid for. If large numbers of physicians stopped taking the responsibility of holding the patient's hand through the insurance process and instead let the patient deal with the hassle, a lot would change. Patients would see how dysfunctional the system is and begin to demand change."


The Public Has a Misguided View of Physicians

Some readers noted that patients have a negative view of doctors based on some notorious physician offenders. Said an emergency medicine physician, "The problem is that the public's impression of our profession is colored by the worst 10% of doctors (as they say, it is a profession in a fish bowl). The fact is there are doctors who let money come before the lives and health of others. In the ER I've seen specialists ask for a wallet biopsy before they would see a patient."

Another reader, in an overall sympathetic posting, noted the occurrence of medical errors and fraud, "showing hospital coding violations, deaths due to poor physician handwriting, unneeded surgeries (not related to defensive medicine), and some bad doctors." The reader asked, "If you were a legislator throat-latch deep in an HC Reform debate, how much confidence would you have that medicine ought to continue policing itself?"

Some postings suggested that doctors have been too quiet about expressing the situation to the public, and that speaking up might make a difference. A cardiothoracic surgeon suggested, "Every opinion expressed above reflects the genuine frustration of a profession committed to doing good for their public. For some reason, all these honest observations have never been presented to the public in ways that will gain their attention and support for needed fair change. The conversation seems to begin and end in doctors' lounges and at conferences.

"Maybe someday in the not too distant future," he added, "a critical mass of physicians will stick their heads out of windows and express their undeserved frustrations to their public. Perhaps only then will the public wake up to the fact that their 'doc' is working under hostile conditions which need to be alleviated."

Yet a general cardiologist felt that even that won't make a difference. "Unfortunately, I am convinced that the only 'yells out of the window' that the public will hear is the locking of our office doors as we quit."


Time to Take Action?

A couple of readers suggested a more activist stance. A family physician recommended: "Just say no. Let the doctors, except for a skeleton crew of ER docs, go on strike one day a month. Go to Washington, NY, LA with white coats on. Nothing medical happens in this country without physicians; not prescriptions, procedures, examinations, or even home care orders. There are fewer than 800k of us, way too few for a population of 300 million. Doctors have been far too passive, perhaps because we are afraid of being accused of "being in it only for the money."
Yet Doctors Still Express Positive Notes

While frustration was clearly the emotion of the day, there were still positive feelings for the profession. One internist said, "I enjoy my job and love my patients. And I make above average money for an internist, 240k or so. I own my own practice and work pretty hard. When I compare what I make to what the local public teachers make on an hours worked basis and figure in their benefits, it's about the same pay. I guess I have nothing to apologize for, in terms of income."

A psychiatrist summed up what may be the gut-level issue that plagues everyone who charges for services. He quoted an old Russian proverb: "The doctor is an angel when he tenders his cure and a devil when he tenders his bill."

Read More “MEDICARE IN USA: DOCTORS NOT ALLOWED TO CARE ABOUT MONEY (PART 2)”  »»

MEDICARE IN USA: DOCTORS NOT ALLOWED TO CARE ABOUT MONEY (PART 1)

Patients generally place a lot of trust in their doctors and want to believe that this benevolent authority figure cares deeply about their welfare and nothing else. Believing otherwise could be very distressing.


Why Aren't Doctors Allowed to Care About Money?( PART 1 )

By Leslie Kane/Medscape


A number of consumer websites are taking polls that ask the public how they feel about the healthcare reform bill. Most response was positive, although some consumers expressed surprise that not all doctors are happy about the healthcare reform plan.

Their premise is: given the societal benefit of having millions more Americans with insurance coverage, some doctors should be putting income concerns aside.

Obviously most patients know very little about the details of physician reimbursement problems. They can't sympathize with something they don't know about, and probably wouldn't sympathize even if they did.

This isn't a new issue, and doctors know better than anyone that there's not a ton of sympathy out there for declining physician incomes. And even though it's mostly all about income-envy, there are a couple of reasons why people feel doctors should not be concerned about income at this time:

They say: Doctors still make enough.

This is a 'duh.' People seem to have an internal barometer of how much money they think is enough for someone else to make. Anything beyond that is unnecessary.

So, if a worker makes $50,000 and is supporting a family of four, he doesn't think doctors need to make more than, say $90,000 (maybe $120,000 for top cardiac surgeons). His thought is, "Doctors make more than I do, so they should be happy with what they have."

Consumers barely know or care about physicians' student loans, malpractice premiums, extra years spent in medical school, or remuneration for taking on life and death responsibility for patients' health.

People in helping professions aren't supposed to care about money.

This is a very pleasant myth.

The world is much less complicated when you dichotomize things into black and white. If you're in a helping profession, you--like Mother Teresa--should care only about others and not about yourself.

Patients see their doctors as good people, and find it jarring to realize that this good person could place financial self-interest (or even the desire to cover office overhead!) equal to or perhaps ahead of helping others.

The Caring Authority Figure

Even with today's trend toward a patient/physician partnership, a doctor is still an authority figure who dispenses life-changing treatment and advice.

Patients generally place a lot of trust in their doctors and want to believe that this benevolent authority figure cares deeply about their welfare and nothing else. Believing otherwise could be very distressing.

---------------------------------------------------------------------------------

Of course, I'd be remiss in not pointing out that there are many consumers who fully support doctors' financial concerns. I've heard patients say, in effect, 'for what doctors do and what they put up with, they should not get a raw deal.'

Amen to that.


Leslie Kane

Leslie Kane is Editorial Director of Medscape's Business of Medicine site. She is the former editor-in-chief of Medical Economics magazine. Ms. Kane is on the Board of Trustees of Valley Hospital in Ridgewood, NJ. She has also been named as a Population Health Associate (non-faculty affiliate) with the Jefferson School of Population Health at Thomas Jefferson University. She has a master's degree in counseling. Ms. Kane has held corporate positions in marketing, business reengineering, and advertising.

Read More “MEDICARE IN USA: DOCTORS NOT ALLOWED TO CARE ABOUT MONEY (PART 1)”  »»

TRIBULASI : ASAM GARAM PERJUANGAN

'Ancaman' Facebook: 5 hari merengkok di penjara


"DE, Wa nak tanya lu, pasti ke lu boleh hidup esok....jgn aibkan orang, monyet pun jangan."

Dan gara-gara ayat itu Badrul Hisham Abdul Jalal terpaksa merengkok lima hari di penjara.

Lelaki berusia 40 tahun yang mengakui beliau adalah ahli PAS berkata 'kata-kata' itu diletakkan di Facebook halaman perbicaraan kes liwat Datuk Seri Anwar Ibrahim.

Pengadu kes berkenaan, Saiful Bukhari Azlan bagaimanapun mendakwa kata-kata itu sebagai ugutan untuk membunuhnya.

Menceritakan bagaimana isu berkenaan timbul, Badrul memberitahu wartawan bahawa beliau tergerak untuk memuatkan kata-kata itu ketika bekerja pada Rabu lalu.

"Sebagai orang Islam, saya cuma mengingatkan Saiful supaya tidak mengaibkan orang. Lagipun, kita tidak tahu sama ada kita akan hidup atau mati pada hari esok.

"Ia bukan satu ancaman,” katanya pada sidang media di ibu pejabat PKR di Kuala Lumpur hari ini.

Badrul, yang jelas ketakutan selepas lima hari ditahan berkata beliau hanya menyedari bahawa Saiful membuat laporan polis selepas membacanya di internet pada keesokan harinya.

"Saya berpendapat yang saya tidak melakukan apa-apa kesalahan dan pergi ke balai polis Klang pada Jumaat.

"Sarjan yang bertugas berkata dia perlu menyemak sebuah fail berhubung kes itu. Dia kemudiannya memberitahu bahawa saya ditahan,” kata Badrul.

Dia bagaimanapun mengakui bahawa polis melayannya dengan baik sepanjang penahanan itu tetapi tidak faham mengapa masa yang begitu panjang diperlukan bagi merakamkan kenyataannya itu.

Badrul dibebaskan petang semalam.

Menurutnya, keluarganya juga tidak diberitahu berhubung penahanannya sepanjang lima hari itu.


Joseph Sipalan/MALAYSIAKINI

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ANTARA NASIHAT PERINGATAN DAN UGUTAN SERTA HASUTAN















Ugut Saiful Bukhari: Lelaki 40-an bebas

Seorang lelaki 40 tahun yang dikaitkan dengan tuduhan membuat ugutan terhadap pengadu kes liwat Ketua Pembangkang Datuk Seri Anwar Ibrahim - Mohd Saiful Bukhari Azlan - dibebaskan daripada tahanan reman hari ini.

Beberapa anggota keluarganya memberitahu Malaysiakini, Badrulhisham Abd Jalal dibebaskan kira-kira jam 5.30 petang ini selepas ditahan reman sejak Jumaat lalu di balai polis Bukit Jalil.

Bapa kepada tiga orang anak yang menetap di Klang itu difahamkam ditahan reman sejurus selepas tampil membuat laporan balas bagi mempertahankan dirinya di ibu pejabat polis daerah (IPD) Klang, berdekatan rumahnya.

Sehari selepas itu, difahamkan juga polis telah mendapat perintah reman daripada majistret untuk tempoh empat hari - berakhir hari ini - bagi membantu siasatan.

Difahamkam aduan Saiful itu dikendalikan oleh pihak IPD Sentul - tempat di mana Saiful tampil membuat laporan polisnya Khamis lalu.

Bagaimanapun, usaha Malaysiakini mendapatkan pengesahan daripada pihak balai berkenaan setakat ini belum berhasil. Sehubungan itu, pertuduhan sebenar terhadap Badrulhisham juga masih tidak dapat dipastikan.

Khamis lalu,Saiful mendakwa menerima pesanan berunsur ugutan di laman sosial Facebook daripada seorang individu yang hanya dikenali sebagai "Badrul Hisham".

Justeru, beliau tampil membuat aduan di balai polis Sentul di ibu negara petang semalam kerana "bimbangkan keselamatan diri dan dan keluarganya".

Ketika dihubungi Malaysiakini hari ini, anggota keluarga Badrulhisham memberitahu, beliau enggan ditemubual pemberita, walapun melalui telefon buat masa ini kerana belum bersedia.

Seorang anggota keluarganya memberitahu, satu sidang media berhubung perkara tersebut mungkin dibuat esok di Klang.

Jimadie Shah Othman/MALAYSIAKINI

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PENDENGARAN SELCAT PADA 2-4 JUN ISU PASIR


KENYATAAN AKHBAR

17 Mei 2010



Jawatankuasa Pilihan Khas Mengenai Keupayaan, Kebertanggungjawaban dan Ketelusan (SELCAT) pada mesyuarat yang diadakan pada hari Isnin, 17 Mei 2010, telah memutuskan untuk mengadakan pendengaran awam ke atas tuduhan penyelewengan yang berlaku di dalam anak syarikat Kerajaan Negeri Selangor, Kumpulan Semesta Sdn Bhd (KSSB), yang mengendalikan perlombongan pasir di Selangor.

SELCAT akan menyiasat perkara tersebut dari segi pentadbiran untuk mengenalpasti samada terdapat kelemahan pentadbiran yang perlu diperbaiki dan diperkuatkan oleh Kerajaan Negeri Selangor demi memastikan pentadbiran KSSB mematuhi dasar dan arahan Kerajaan.

Pendengaran awam tersebut akan diadakan di Bilikan Gerakan, Tingkat 2, Bangunan Annex, Dewan Negeri Selangor pada 2, 3 dan 4 Jun 2010 dari jam 10 pagi hingga 1 petang. Semua pihak yang terlibat secara langsung akan disaman hadir untuk memberi keterangan kepada SELCAT.

SELCAT berharap semua pihak memberi kerjasama sepenuh dalam pendengaran awam tersebut dengan membentangkan dokumen-dokumen yang berkaitan untuk melicinkan lagi siasatan melalui pendengaran awam tersebut.

Mesyuarat SELCAT yang diadakan pada hari ini telah dihadiri oleh semua ahli jawatankuasa SELCAT yang dipengerusikan oleh Speaker merangkap Pengerusi SELCAT, YB Tuan Teng Chang Khim.

Ahli-ahi Jawatankuasa SELCAT yang lain ialah YB Pn Hanizah Talha (PR), YB Tn Azmin Ali (PR), YB Tn Saari Sungip (PR), YB Tn Edward Lee (PR), YB Tn Ismail Sani (BN) dan YB Tn Sulaiman Abdul Razak (BN).

Sekian, terima kasih.

DARREN ONG

Setiausaha Sulit kepada YB Tuan Teng Chang Khim

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KENYATAAN MEDIA YB MANIKAVASAGAM ISU PASIR


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LESSONS FROM PIIGS's BUDGET DEFICIT

Unfortunately, one of those members used voodoo economics to meet the budget deficit rule. Basically, they cooked the books to make it look as if they only had a 3% budget deficit.
Everyone calls EU’s troubled states “the PIIGS” (Portugal, Italy, Ireland, Greece and Spain). But again, the PIIGS only account for 14% of the total Eurozone GDP


Excerpts from Sovereign A-letter


This union defied the odds. It cleaned up its messes. Union leaders stopped members from leaving, and played referee as member states argued over how to run their economies.

Eventually, this union built the largest economy and political entity in the world. Investors not only respected this union — they suddenly wanted to hold this union’s currency.

…Well, until recently.

I’m sorry to say, this union is starting to crumble. Now each member state is in more disarray than the last. We are seeing budget deficits, protests in the street, and debt-infested governments that all need to cut spending but never do.

And now plenty of investors are snickering on the sidelines saying that this crisis will collapse the currency…

The ‘Crisis’ Story that No One Is Telling

Think I’m talking about the EU, right?

Well I’m not … I’m talking about the U.S.!

That’s right -- the U.S. is a monetary union just like the EU. We all share the same currency, same government and we can travel across state borders without taxation, a passport or changing currencies.

Lately, everyone in their brother is beating up the EU. But the fact is, the EU’s debt problems are peanuts compared to our debt issues in the United States.

The U.S. is the real danger economy (and currency), but it also provides the easiest way to protect yourself in the coming months and years.

Before we get down to business, let me give you my take on this so-called “euro crisis.”

Euro Collapse? Give Me a Break

Long ago, before there was a “euro” the European Union members agreed to the Maastricht Treaty. This treaty would govern the member countries, so eventually they could create a “one policy meets all” for the entire EU.

Among other things, the Maastricht Treaty mandated that each member state could only have a budget deficit of 3% of its GDP. To join the EU, each member must meet that limit.

Most members decided to meet the target by selling their gold, which they did in 1998 and 1999. But they made it. When the Union formed, 13 nations joined together under the Maastricht Treaty.

Today, 17 nations are EU members, and all those citizens use the euro as their currency.

Unfortunately, one of those members used voodoo economics to meet the budget deficit rule. Basically, they cooked the books to make it look as if they only had a 3% budget deficit.

Now the truth is finally coming out, years after joining the EU.

That country? I’m sure you can guess. It’s Greece.

Is this shocking? Wrong? Absolutely.

But it’s also the reason why pundits all over the world are talking about the “coming collapse of the euro.”

Now I can agree that this will definitely be a setback for the euro. But come on. The euro will NOT fall apart just because of one bad apple. It doesn’t make sense.

Greece’s total contribution to the total Eurozone GDP is just 2%. If you remove 2% of the total Eurozone’s GDP, do you really think the EU will collapse?

That’s like saying the U.S. GDP would collapse if Idaho left. Not going to happen!

To take this further, everyone calls EU’s troubled states “the PIIGS” (Portugal, Italy, Ireland, Greece and Spain). But again, the PIIGS only account for 14% of the total Eurozone GDP


Chicken Littles Cry About Euro’s Impending Demise (Again!)

Yes, these EU member states were completely out of line when they continued deficit spending. It’s only fair that the euro suffered a bit.

However, to say that the euro is going to collapse is simply unreasonable.

Before the euro even became a real entity in 1999, there were those that did not believe it would last, and would soon collapse. However, the euro, which suffered at first, eventually came on strong.

In 2005, when Sweden and Denmark both said “no” to join the euro, pundits once again called for the euro to collapse. But the euro only came back stronger. In 2008, during the financial collapse, they said the euro would fall apart. And once again, the euro came back stronger after selling off.

So is this just another case of euro selling as various Chicken Littles run around calling for the euro’s collapse, only to see it rebound and come back stronger?

Or is this finally the hangman’s noose for the euro?

Personally, I believe it to be the former. Here’s why…

The euro is the second most liquid currency in the world, and the second most widely traded currency in the world.

It is the offset currency to the dollar — and the closest thing to the next world reserve currency.

So, if you believe that the euro will collapse, then you must believe that the U.S. dollar will continue to soar for years. You must think our deficit spending that’s gone on for over eight years now is no big deal.

There are plenty of traders who think this way. I call them the “deficits don’t matter crowd.”

This blatant disregard for a currency’s debt always reminds me of a man leaping off the Empire State building.

He passes the 56th floor and screams… “So far, so good!”

The point is long-term deficits always matter. Greece found that out. It’s only a matter of time before the U.S. does.

Read More “LESSONS FROM PIIGS's BUDGET DEFICIT”  »»
 

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