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Duende wrote:I am never surprised at some people's ability to contort any subject at all into a rant against socialism. You do realize that your post adds absolutely zero to the conversation, right? Your post is devoid of content and I'm curious why you bother to post at all.
Duede, or whatever, I was so impressed with your post.
Greece, one of the more socialist states, borrowed far more than it could pay back.
DomusAlbion wrote:Duende wrote:I am never surprised at some people's ability to contort any subject at all into a rant against socialism. You do realize that your post adds absolutely zero to the conversation, right? Your post is devoid of content and I'm curious why you bother to post at all.
Anybody on these boards has the right to say what they like as long as it doesn't violate the rules of the board. Nobody made you a moderator of PO nor do we need high-handed self-righteous postings directing others' free speech.
Thank you very much.
GASMON wrote:Cameron will sell the UK down the river to appease his masters, the bankers (listed in previous posts). Of course the UK has little clout, the Germans will decide Europe's future, and it won't be nice (for non Germans).
Duende wrote:I've researched the European sovereign debt crisis over the past week or so because I know so painfully little about it. The first thing that struck me was how long this has situation has been unraveling for - a number of years. Another thing that struck me is how widely varying the concern about the severity of the situation is. You go from Bloomberg and The Economist which looks at it as a relatively minor issue which could be solved quite simply, if only the political will was there. On the other hand, Zerohedge and Max Keiser make it sound like financial Armageddon is imminent. I really can't make heads or tails of it; there's just so much noise out there on it.
Fishman wrote: "Round here we call that thievery
dolanbaker wrote:Well, so far the markets are looking up.
They appear to have taken the soundbites and think it's all sorted!
prajeshbhat wrote:There are legions of unemployed youth all around Europe. It is possible that they will be the future recruits for the Eurozone military unit.
In USA, the young are indebted. Joining the military automatically wipes out your debt. You get to serve your nation and bring freedom all over the world. All expenses paid by the government as long as you are fighting. What's not to like?
China and India keep passing larger and larger military budgets every year. Last year they both expanded their respective military budgets by 12%. At this rate it will double every 6 years. Wonder what they are up to. They have the manpower but not the machinery. Yet.
The middle east region earns huge oil revenues. More than enough to keep the population fed and to keep them from revolting. They are breeding terrorists faster than wall street can perform high frequency trading. And they start recruiting young. Really young. Even Africa is not far behind.
The offer – an increase on the banks' previous proposal of a 21pc 'haircut' – is set to trigger a tense period of negotiations and could determine the success of a crucial European summit on Wednesday. The IMF is thought to be calling for a 60pc haircut while Europe's leaders are demanding at least 50pc, but bankers have warned that anything over 40pc risks setting off a 'credit event', triggering credit default swaps.
David Cameron travelled to Brussels for the conclusion of a weekend of talks between European leaders but, as feared, politicians were unable to agree definitive moves to halt the crisis. ... Mr Cameron yesterday called on his European peers to redouble their efforts: "The crisis in the eurozone is having a chilling effect, not just on eurozone economies, not just on market confidence but on the British economy too. They need to come together and take responsibility for their currency."
...In a victory for Germany, leaders agreed that the European Central Bank would not play a role in boosting the EFSF's firepower. The agreement, a blow for France which had been hoping to use the ECB to lend potentially limitless funds, will raise further questions as to how politicians will boost the EFSF's strength. The focus appears now to rest on the EFSF being used to guarantee government bond sales....
Fishman wrote:Sys, good luck there in France. Though my comments about Euro socialism were pretty nasty, I wish you guys the best of luck. Every time oil tops about 90 dollars , the economies drop. Those countries that had the most debt like Greece are suffering the most,... at present. History is full of economic downturns with the four horsemen right behind. Perhaps fracking will help for a while , but who knows.
peripato wrote:Parasitic too big to fail banks don't want to suffer any significant losses, whilst domestic populations, either tired of austerity or with continued bank bailouts, or both, are increasingly growing exasperated with governments' who are in bed with these fraudsters and seem intent on throwing whole countries under the bus, instead of making them eat their insolvency shit sandwiches which are growing in stench.
Daniel_Plainview wrote:The only solution may be to print money (even though this is illegal under the Eurozone) ...
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