Greece up the creek without a Paddle.And we all fall in. (67)
Martiabenalla, Victoria Australia141 Threads 1 Polls 2,888 PostsIn Australia we were just about out of trouble.But the problems in Europe are reverberating all around the world.... shares plunge again.... any end to it. ? And why do shareholders panic so easily as they all come back up again.
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Oh well it seems nobody knows just thought I would ask.
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Maybe going with the stream instead of against it?
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Martia: In Australia we were just about out of trouble.But the problems in Europe are reverberating all around the world.... shares plunge again.... any end to it. ? And why do shareholders panic so easily as they all come back up again.
Statistics from EU out only yesterday.. the Greeks come in in second place!
Ireland is worse!!!!
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Martia: In Australia we were just about out of trouble.But the problems in Europe are reverberating all around the world.... shares plunge again.... any end to it. ? And why do shareholders panic so easily as they all come back up again.
Any rumors of "recovery" as long as bankrupt debtor nations like the US are still running huge trade deficits are nothing but total disinformation.
The US trade deficit is running at about - $40 billion US per month. And since nobody is buying up US T-notes anymore, that entire deficit has to be financed by printing up more worthless monopoly money.
The longer the dollar collapse is delayed, the harder it will crash.
In this video, Replace the word "Arabs" with "creditor nations" and the scenario presented is exactly the sutuation today.
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Martia: In Australia we were just about out of trouble.But the problems in Europe are reverberating all around the world.... shares plunge again.... any end to it. ? And why do shareholders panic so easily as they all come back up again.
Yes and they have asked the UK for help!!!. This country is trying to climb out of a black pit as it is!!!. We are having trouble helping ourselves, . . . . let alone anyone else!!!!
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I actually wish the IMF would take over Ireland, the Irish political elites don't have the guts to take really unpopular decisons that will be necessary in the next few years, Angela Merkel is dragginmg her heels over bailing out the Greeks and who can blame the Germans they may have to bail out Ireland and germany is in a very severe recession itself.
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LusciousLibra: Statistics from EU out only yesterday.. the Greeks come in in second place!
Ireland is worse!!!!
Ireland is worse!!!!
Our budget deficit is even worse and yet those muppets in the public sector are looking for their pay to be reversed, it simply isn't going to happen, what the celtic tiger welfare junkies (people who never worked when the economy was booming) and the public sector need is a severe injection of financial shock therapy cutesy of the IMF to put manners on them.
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I'm told this has been coming since the end of WWII.
The problem with a global economy is that everyone is quite literally in the same boat. If one part sinks so does the rest of the ship.
Part of the problem is that the powers that be (that helped to cause the problem) are looking to solve the problem using the same methods that created it.
I wish I knew what the solution was but I suspect it will involve things getting much worse before they get better.
The problem with a global economy is that everyone is quite literally in the same boat. If one part sinks so does the rest of the ship.
Part of the problem is that the powers that be (that helped to cause the problem) are looking to solve the problem using the same methods that created it.
I wish I knew what the solution was but I suspect it will involve things getting much worse before they get better.
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katt1017: I'm told this has been coming since the end of WWII.
The problem with a global economy is that everyone is quite literally in the same boat. If one part sinks so does the rest of the ship.
Part of the problem is that the powers that be (that helped to cause the problem) are looking to solve the problem using the same methods that created it.
I wish I knew what the solution was but I suspect it will involve things getting much worse before they get better.
The problem with a global economy is that everyone is quite literally in the same boat. If one part sinks so does the rest of the ship.
Part of the problem is that the powers that be (that helped to cause the problem) are looking to solve the problem using the same methods that created it.
I wish I knew what the solution was but I suspect it will involve things getting much worse before they get better.
Slash public spending cut wages is the best way to overcome a recession an historic example of such a policy working is America in 1920-21, despite what the historians FDR's economic policies prolonged a rcession turning into a depression, it was only the Japaness invasion opf Pearl Harbour that took the United States out of recession.
Stimulus packages don't work same with increasing taxes in a recession, cutting spending is the way to go along with the cost of doing business.
Also in Ireland the government should also have allowed the banks to go bust, let capitalism run its natural course.
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Ross30: I actually wish the IMF would take over Ireland, the Irish political elites don't have the guts to take really unpopular decisons that will be necessary in the next few years, Angela Merkel is dragginmg her heels over bailing out the Greeks and who can blame the Germans they may have to bail out Ireland and germany is in a very severe recession itself.
A Merkel is not dragging her heals on this one at all. The German government are looking for some form of guarantee from the Greeks and rightly so. They will eventually have to pay back this loan. And as yet the Greeks have yet to bring to the table anything solid, there will be a stalemate. i.e. the Greek government need to ensure people who are working are actually paying their taxes. It is about people acting more responsibly, which clearly in this case the Greek people have not.
And for a country that is in deep recession as you said in another post of yours, it makes you wonder how strong the German economy and Government are, given they have the potential to bail out two countries.
Germany are well placed, they have a very strong leader who delivers.
A Merkel is a very asute,intelligent politician. One of the best in the world to date.
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From what I've read Greece is very corrupt and nobody wants to do a days work for a days pay. I think this is endemic all over Europe what with companies shutting down for 5-8 weeks so everybody can go on a paid holiday. I've heard Europeans say after they emigrate to America "It's a beautiful, diverse country but these people don't know when to slow down, they work constantly."
Maybe Greece should just be allowed to go BK.
Maybe Greece should just be allowed to go BK.
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What happened to the work ethic in Europe?
Socialism happened.
Socialism happened.
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Ross30: Slash public spending cut wages is the best way to overcome a recession ...
Stimulus packages don't work...
let capitalism run its natural course.
Stimulus packages don't work...
let capitalism run its natural course.
A truly free economy, controlled neither by the rich bosses nor by the government, would keep itself healthy.
The problem is that greed drives people to try to squeeze a bigger share for themselves than they really merit. And of course that leads to opposition and adversary relationships develop and soon there are unions and strikes and violence, etc etc etc.
Greed is the problem for both workers and bosses.
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ooby_dooby: From what I've read Greece is very corrupt and nobody wants to do a days work for a days pay. I think this is endemic all over Europe what with companies shutting down for 5-8 weeks so everybody can go on a paid holiday. I've heard Europeans say after they emigrate to America "It's a beautiful, diverse country but these people don't know when to slow down, they work constantly."
Maybe Greece should just be allowed to go BK.
Maybe Greece should just be allowed to go BK.
Its called socialism which rewards laziness and punishes hard work.
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Martia: In Australia we were just about out of trouble.But the problems in Europe are reverberating all around the world.... shares plunge again.... any end to it. ? And why do shareholders panic so easily as they all come back up again.
Why are those pieces of plastic called credit cards?
Because credit is a house of cards. It doesn't take much to knock it down.
And yet people still can't accept or understand why it falls....
.
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I'm sure it's all Obama's fault - all of this ...........
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Receivers in America quite recently released derivatives owned by Iceland and included in those Greece was found to have borrowed one billion more than any member of the EU membership is allowed to borrow. The borrowings were camouflaged by an American Bank who had arranged the derivatives.
If i recall correctly, the USA twice bailed out the EU currency and more recently the EU in-turn helped America out in return by assisting the US debit problems.
I think likely Australia is been buoyed up by China and unless the Pope the Queen,the French, Germany and others including the USA are ready to fold his cards, the golden rule what goes up must come down probably applies...get rid of any debit Martia
If i recall correctly, the USA twice bailed out the EU currency and more recently the EU in-turn helped America out in return by assisting the US debit problems.
I think likely Australia is been buoyed up by China and unless the Pope the Queen,the French, Germany and others including the USA are ready to fold his cards, the golden rule what goes up must come down probably applies...get rid of any debit Martia
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robplum: Receivers in America quite recently released derivatives owned by Iceland and included in those Greece was found to have borrowed one billion more than any member of the EU membership is allowed to borrow. The borrowings were camouflaged by an American Bank who had arranged the derivatives.
If i recall correctly, the USA twice bailed out the EU currency and more recently the EU in-turn helped America out in return by assisting the US debit problems.
I think likely Australia is been buoyed up by China and unless the Pope the Queen,the French, Germany and others including the USA are ready to fold his cards, the golden rule what goes up must come down probably applies...get rid of any debit Martia
If i recall correctly, the USA twice bailed out the EU currency and more recently the EU in-turn helped America out in return by assisting the US debit problems.
I think likely Australia is been buoyed up by China and unless the Pope the Queen,the French, Germany and others including the USA are ready to fold his cards, the golden rule what goes up must come down probably applies...get rid of any debit Martia
Not to flag wave, but Canada was the only major economy in the world (G20 countries) not to have a bank failure or major debt crisis.
It was also the only major economy in the world that stuck by the old banking rules from pre-2001, not playing fast and loose with cash and debt like everybody else.
No doubt there are people who will try to say those two facts are unrelated.
.
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Me thinks a couple Banks in Australia have exposure to derivatives
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Created: Apr 2010
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