Global Financial Crisis (5 Viewers)

[Bjerknes]

Maybe. Usually when a nation's credit rating is downgraded, the events to follow are shall we say... not so promising.

Watch your CDS and bond market. That will give you the answer to your question of DOOM.

 

Buy on AliExpress.com

[Bjerknes]

Interesting analysis by a financial crisis adviser.

http://www.youtube.com/watch#!v=rbXwe0HZFH0&playnext_from=TL&videos=V5LtWcyvBT4&feature=sub

 

[Bjerknes]

Threats of Civil War

Just reported: Greece will not cut public salaries or there wll be civil war.

There's the gauntlet folks. It means that no "assistance" can actually succeed, because it is not possible to get the fiscal situation under control without significant cuts in public spending.

This, incidentally, is the same problem we have in the US, and why attempts to deal with our fiscal situation at both state and federal levels is going to end up in the same place eventually. The majority of our budget is comprised of handouts of one form or another, whether they be Social Security, Medicare, or public-sector salaries.

The "unified opposition" by public-sector employee unions (just look at what Florida teachers ran when their pension handouts and tenure were threatened) says everything you need to know.

Greece has to be cut loose. The best way to do it is for Germany to walk away from the Euro and return to the Mark for its currency, leaving the rest of Europe to twist in the wind.

I see no other solution. Threats of civil war, which are effectively what the public sector unions here in the US have also threatened repeatedly since 2008 (and to which we have responded by refusing to cut their salaries and benefits) mean that we have the irresistible force meeting the immovable object.

All such governments who refuse to take on these bullies and meet that threat with immediate charges of inciting overthrow of the government by force (in the US this charge is known as seditious conspiracy) will fail.

We have refused to make clear that such threats will result in charges of this sort - and so have other nations such as Greece. Yet unless this is made crystal clear and this sort of approach by these unions is put down immediately all nations beset by this sort of action will fail both politically and economically.

Simply put the artificial support proffered to the financial sector should have never been put forward, but having done so, the public must now bear the cost, here, today, and immediately.

Those are the only choices folks. Greece, and indeed the entire European Union, will ultimately disintegrate (as will America) if this is not done.

http://market-ticker.org/archives/2246-Threats-Of-Civil-War.html

 

[The Curr]

Seems a bit sensationalist.

 

[Bjerknes]

I don't think so. These European governments are in bad shape, and it doesn't end in Greece. They will not be bailed out because then everyone from Portugal to Ukraine will have to be, so Germany should and will say no.

Once the credit spigot is turned off then all these government services will also end, regardless of nation.

More measures are bound to meet resistance. Opinion polls show a majority of Greeks oppose outside aid and expect the rescue package to hit living standards. Unions have pledged strikes and many analysts fear violent protests come autumn.

"It's a disaster! The government has crossed the line," said Despina Spanou, a member of the public sector union ADEDY board. "We can't live this way. We will fight these measures with all our might, because this is a battle for survival."

http://www.reuters.com/article/idUSLDE63S17H20100429?type=marketsNews

 

[Nenz]

Simple solution... move to Australia.

 

[Bjerknes]

You got water problems, yo.

Plus you don't want Melbourne populated with snide EuroTrash brats who complain you aren't baking your baguettes correctly.

 

[Lapa]

Good posts by you Andy, I have to say.

But it`s too late for European countries to back out of this at this moment I think. Greece has to be saved and when that is done we must take a long hard look at the mirror and try to make this really work (if we just kick Greece out of the EU it would just mean that the whole EU would lose its credibility). The biggest countries will pay the bill for this whole mess (but hey, thay are the one who benefit the most of the EU).

And for this whole civil war thing, people who live in Greece should just go and shoot themselves. They are the one who have put this whole shit together! (and btw, that wasn`t a racist comment)

EDIT: I should never again speak about politics here...

 

[Quetzalcoatl]

Simple solution... move to Australia.

I want to.

 

[Bjerknes]

Good posts by you Andy, I have to say.

But it`s too late for European countries to back out of this at this moment I think. Greece has to be saved and when that is done we must take a long hard look at the mirror and try to make this really work (if we just kick Greece out of the EU it would just mean that the whole EU would lose its credibility). The biggest countries will pay the bill for this whole mess (but hey, thay are the one who benefit the most of the EU).

And for this whole civil war thing, people who live in Greece should just go and shoot themselves. They are the one who have put this whole shit together! (and btw, that wasn`t a racist comment)

EDIT: I should never again speak about politics here...

Lapa, correct me if I'm wrong, but the EU constitution doesn't allow for ejecting member nations. So they couldn't kick them out. And if they did, then it would still be the end of the Euro.

What Germany should do is allow all of these nations to fail and get out of the Euro themselves, both the union AND currency. Reinstate the Mark as their currency and watch the implosion around them, front-row-seat-style. If they don't, then these other nations will suck them dry.

And I wouldn't blame the Greek people entirely. Their nation is controlled by financial terrorists, just like most other places.

 

[Quetzalcoatl]

One world government is coming...

 

[Bjerknes]

Well, Whats-his-face Brown did call for a one world financial government...

 

[The Curr]

NWO

 

[Quetzalcoatl]

All they need is the people to beg for it.

 

[Lapa]

Lapa, correct me if I'm wrong, but the EU constitution doesn't allow for ejecting member nations. So they couldn't kick them out. And if they did, then it would still be the end of the Euro.

What Germany should do is allow all of these nations to fail and get out of the Euro themselves, both the union AND currency. Reinstate the Mark as their currency and watch the implosion around them, front-row-seat-style. If they don't, then these other nations will suck them dry.

And I wouldn't blame the Greek people entirely. Their nation is controlled by financial terrorists, just like most other places.

You are correct about ejecting member nations. But if we let Greece to fail, it wouldn`t take very long for the whole EU to collapse (that was pretty much what I was trying to say).

And about the financial terrorists (their part compared to the peoples).

You like to follow politics? I probably follow too much since I have become really bitter "old" man.

 

[Bjerknes]

You are correct about ejecting member nations. But if we let Greece to fail, it wouldn`t take very long for the whole EU to collapse (that was pretty much what I was trying to say).

I don't agree with the bailout mentality. Even if Greece is given billions of Euros, they still don't have the ability to pay it back. So all that is going on here is we are delaying the inevitable and making the problems worse by adding more debt to the system.

The only way to resolve these sovereign debt issues, just like all debt issues around the globe, is to remove the bad debts from the system. Greece should default on the debt they owe and avoid the IMF repercussions, err, "solutions", that have never worked.

And again, if Greece is bailed out, then Portugal, Italy, Spain, Ireland, Ukraine, Latvia, et cetera will all demand to be bailed out as well, which would utterly destroy the creditor (most likely Germany). The German people have made it clear they will vote Merkel out if a bailout is proposed.

You like to follow politics? I probably follow too much since I have become really bitter "old" man.

I'm beginning to hate politics because I've realized both parties in the US, the Democrats and Republicans, are essentially the same group of people bought and paid for by the same financial terrorists and military war-mongerers that have plagued the world for years.

 

[Quetzalcoatl]

So what happens to countries that get no bailout and go "bankrupt"?

 

[swag]

Germany is like the guy who marries what he thinks is a hot supermodel to show up his friends -- but yet only recently does he notice that her family of pregnant teenage crack whores is going to bleed him dry in financial support.

 

[Lapa]

I'm beginning to hate politics because I've realized both parties in the US, the Democrats and Republicans, are essentially the same group of people bought and paid for by the same financial terrorists and military war-mongerers that have plagued the world for years.

Just think about the fact the we are considering to take Turkey to EU too. Like we don`t have enough troubles already...

 

[Bjerknes]

So what happens to countries that get no bailout and go "bankrupt"?

They have to start over. Best case scenario is they their assets are taken, they get a new government in there, and it turns into a third world country. Worst case scenario is they have a civil war.

Argentina is a great example here.

Greece doesn't have many options because they can't inflate their way out of their troubles by printing money since they have the Euro.