Economic crisis
- 24 September 2011 09:33127938most of the papers lead on this.
http://www.guardian.co.uk/business/2011/sep/23/stock-market-rout-eurozone-crisis - Keith Sansum1
- Location: london
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24 September 2011 09:57127945crisis what crsis???? lol
ALL POSTS ARE MY OWN PERSONAL VIEWS - 24 September 2011 12:07127951Mr Sansum.........
A very Labour mindset
- 24 September 2011 13:25127952Yes, I read similar articles last night.
The EU is clinically dead, it's finances are in total ruins. The US President is evidently concerned that a shares crash will effect the USA economy.
But how can the EU leaders solve this financial catastrophe now, which is what President Obama is asking?
The European Central Bank would be totally debt-ridden if it bought up sizable debits of the failed eurozone economies.
There are too many of them: just by sweeping the map from East to West: Greece, Italy, Spain, Portugal.
Without even mentioning the easterm EU economies, some of which have barely escaped total bankruptcy, as I recently read, for example Latvia.
Not to mention Britain, France and Germany's woeful debts.
It seems to me the countdown has begun. The EU is a supernova, about to implode. There will be a very bright light... any time from Monday coming to the next million years....
Chanters, Drums and Drones Potty Time http://youtu.be/99fMqpjnXYA
Rule Britannia!
Kent First http://youtu.be/04F3mAP3fV4 Keep banging on http://youtu.be/qYCU_SKmkGQ - Brian Dixon
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24 September 2011 15:09127963alex,not yet.the doncky/elephant country to the west will go first.
clue,it starts and finishs with an "A". - 24 September 2011 15:53127968spot on brian i had forgotten all about abyssinia.
- Brian Dixon
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24 September 2011 18:13127983howard wrong thats south,i said west. - 24 September 2011 18:30127985Ahhh, Albania.I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
- Brian Dixon
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24 September 2011 18:32127986america.
- 24 September 2011 19:27127989i think you are pulling our collective legs brian it must be andorra.
- 24 September 2011 21:08128005Brian, in the USA, unemployment is at 9.1%, in Britain it's 7.9%.
The USA has debt as a proportion of GDP at 72.6%, Britain at 72.9%.
The American second quarter (Q2) GDP growth was at 0.25%, Britain's at 0.2%
Greece has unemployment at 16.3%, and debt as a proporton of GDP at 153.1%. Greece's Q2 GDP growth was -1.8%.
France has unemployment at 9.8%, and debt as a proportion of GDP at 80.9%, and Q2 GDP growth was 0%.
The French banking sector has a large exposure to Greek debt.
No let's see, how according to you, America should collapse economically, even though the American economy has a similar situation to Britain's, while France's economy should remain unaffected, with all it's debt exposure to Greece, and a higher debt in proportion to GDP than the USA.
And how will Greece fare?
It's quite obvious that the Greek finances are at an end, and depend entirely on injections from France and Germany and a few other EU states, and possibly from the IMF too.
The European Central Bank is already arguing among themselves (among its directors and policy makers) as to whether it should buy up even more Italian and Spanish debt, and the second Greece bailout (109 billion eros) is still not decided.
Greece is still receiving the last payments of last year's bailout, which was 110 billion euros.
"if the facts don't fit the theory, change the facts" won't help either, Brian!
It's pointless trying to change the figures, they tell a clear story, and it won't be America on the way to economic collapse while Greece remains afloat on bailouts.
The money for bailouts isn't there.
Hope these "facts" that I provided above will be of some help to you when summing up the equation.Chanters, Drums and Drones Potty Time http://youtu.be/99fMqpjnXYA
Rule Britannia!
Kent First http://youtu.be/04F3mAP3fV4 Keep banging on http://youtu.be/qYCU_SKmkGQ - 24 September 2011 22:23128010Greece has to be cut loose. There is no credible argument for not letting it default and leave the Euro. This will ensure that 1. The pain falls on the people who elected the Greek government. 2. Other countries will have their similar fate postponed or avoided and 3. It's the best way Greece can pick itself up, dust itself down and start all over again. Many people who go bust say it was the best thing that ever happened to them. And it will rapidly regenerate the Greek economy after an instantaneous contraction. It's the only way to ensure the pain is felt by everybody in Greece and as few people as possible outside. Lets separate politics from economics for a change. Isn't that fair?I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
- 25 September 2011 00:39128014Quite right, Peter. The politics of the Eurocrats don't have anything to do with economics. They know that if one country so much as left the euro through economic failure, a rout of the EU system would start, because no-one would believe the eurocrat bosses in Brussels anymore. The EU would start falling lie nine-pins
I've been informed by UKIP that the Brussels eurocrats want to tax all bank transactions all over the EU, so as to gather an EU tax. This enormous expense would be ultimately paid by the customers using bank facilities.
But news headlines this weekend are warning us of an incoming banking crisis, caused mainly by the euro-debt situation. To me it looks as if the paying-up member states of the EU are about to give up the ghost on paying and paying, so the EU MUST go into failure soon.
I think it will just implode. I'm giving it a few more months before the final solution.Chanters, Drums and Drones Potty Time http://youtu.be/99fMqpjnXYA
Rule Britannia!
Kent First http://youtu.be/04F3mAP3fV4 Keep banging on http://youtu.be/qYCU_SKmkGQ - Brian Dixon
- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
25 September 2011 09:31128032alex,you have forgotten that america rateing has been cut from a triple a rating to a double a rateing,while britain,france,germany and most of eurpoe still have a triple a rateing.which i must add makes borrowing a bit cheaper than americas.