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Europe is falling apart---close to bringing the whole world down.

Discussion in 'BBS Hangout: Debate & Discussion' started by Northside Storm, Nov 9, 2011.

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  1. AroundTheWorld

    AroundTheWorld Member

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    Anyone else get the feeling in this thread that leftists and Islamists are celebrating financial troubles in the Eurozone? One of these groups likes to believe that their ideological "anti-capitalist" claims are confirmed by this, the other one takes joy in non-believer countries having economic troubles.
     
    #241 AroundTheWorld, Jun 12, 2012
  2. Northside Storm

    Northside Storm Member

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    http://presstv.com/detail/2012/06/12/245893/spain-ten-year-bonds-sets-eurozone-record-high/

    The problem is if they're doing it through the ESM, and the ESM gets priority over private bond holders. And we see how "haircuts" go---private lenders take massive hits, European governmental institutions take nearly none. This is why the yields on the Spanish ten-years have gone up an eye-popping half a percentage plus in the space of a day or two.
     
    #242 Northside Storm, Jun 12, 2012
  3. Dubious

    Dubious Member

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    Northside, what is the likely outcome from this? (just your educated guess)
     
    #243 Dubious, Jun 12, 2012
  4. Dubious

    Dubious Member

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    Dude give it a rest. Depressions hurt everyone, especially immigrants. I'm pretty sure everyone is scared sh**less.
     
    #244 Dubious, Jun 12, 2012
  5. Major

    Major Member

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    No. I do get the feeling that there's one person in this thread who, for some inexplicable reason, insists on constantly participating without interest or ability to actually discuss the topic. Besides that person, the thread has been one of the most informative and least b****y on the board.
     
    #245 Major, Jun 12, 2012
  6. AroundTheWorld

    AroundTheWorld Member

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    Then please stop doing that.
     
    #246 AroundTheWorld, Jun 12, 2012
  7. AroundTheWorld

    AroundTheWorld Member

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    How are Major, Northside Storm, Mathloom scared sh**less? Their interest in this issue and masturbatory joy in discussing this is not based on them being scared. They are neither based in Europe nor do they seem to be especially concerned with the well-being of immigrants or other people because of the financial crisis. They would rather use words like "toxic waste dump" to describe Europe, and they would discuss how one could profit from this crisis as an investor.
     
    #247 AroundTheWorld, Jun 12, 2012
  8. Northside Storm

    Northside Storm Member

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    I'd say the most likely scenario is a 2008-style crisis with global implications, but with quicker and more adept reaction from American/Canadian/Chinese etc. policy-makers which will blunt some of the effect---sadly, European policy-makers are in the hot seat now, and I don't think there are many governments and countries in good enough condition to handle this anyways as we're still riding the post-2008 storm.

    My most likely is resigned pessimism, but I am still holding out for drastic policy action; either loosening of the restrictions on the ECB, greater fiscal union and common Euro debt of some kind (whether through Eurobonds or a stronger EFSF), or some combination of all policy options on the table. I do think some members will have to exit the Euro...the way that is operated will determine the difference between financial inconvenience and apocalypse.

    The global financial system is weaker than it was before 2008, but much stronger than it was in the immediate aftermath. Strength has been traded for consolidation, and concentration, which makes a big stress point even bigger. Still, at least banks like Goldman and MS can now borrow from the Fed discount window uninterrupted, worst comes to worst (among other things).

    All in all, a very bad situation, but one that the world still can escape...if not unscathed, at least relatively whole. If there's one ironclad prediction I can make, it's that the working class will suffer first, before any of the upper class even get pricked.
     
    #248 Northside Storm, Jun 12, 2012
  9. robbie380

    robbie380 ლ(▀̿Ĺ̯▀̿ ̿ლ)
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    What's this thread all about? I don't feel like reading 13 pages.
     
    #249 robbie380, Jun 13, 2012
  10. Pole

    Pole Houston Rockets--Tilman Fertitta's latest mess.

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    These aren't the droids you're looking for.
     
    #250 Pole, Jun 13, 2012
  11. Mathloom

    Mathloom Shameless Optimist

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    Isn't this essentially what the Greeks are saying if/when they break off from the eurozone?
     
    #251 Mathloom, Jun 13, 2012
  12. Mathloom

    Mathloom Shameless Optimist

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    Comments?

    Nice revenue, and a good boost in perception for the US.
     
    #252 Mathloom, Jun 13, 2012
  13. Commodore

    Commodore Member

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    <iframe width="560" height="340" src="http://www.youtube.com/embed/TN_1mF-3JTI" frameborder="0" allowfullscreen></iframe>
     
    #253 Commodore, Jun 13, 2012
  14. Nook

    Nook Member

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    Toxic waste dump is over the top and too strong, Europe is not Haiti, but things are really bad in UK, France, Spain, Greece etc. I spend up to half my time in Europe and the under current is real.
    Any Americans taking glee should realize the US and Europe and economically strongly connected. I had a number of friends in Europe gloating over the US struggles, told them to just wait, it would smack them down.
     
    #254 Nook, Jun 13, 2012
  15. Northside Storm

    Northside Storm Member

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    It's a toxic waste dump investing-wise. I'm not going to say that Europe isn't still a pleasant place to be around, but I call a spade a spade---Europe is a toxic waste dump when it comes to investment assets, just like Lehman was in 2008.
     
    #255 Northside Storm, Jun 13, 2012
  16. AroundTheWorld

    AroundTheWorld Member

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    Not every country in Europe is the same. So your statement is wrong, even as you explain it.
     
    #256 AroundTheWorld, Jun 14, 2012
  17. Northside Storm

    Northside Storm Member

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    [​IMG]

    Excerpts from Boomerang: Travels in the New Third World, by Micheal Lewis.
     
    #257 Northside Storm, Jun 14, 2012
    Last edited: Jun 14, 2012
  18. AroundTheWorld

    AroundTheWorld Member

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    Everything you posted in that last post is true. I hate those banker idiots.
     
    #258 AroundTheWorld, Jun 14, 2012
  19. Nook

    Nook Member

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    Fair enough... Also I will say that the economic struggles are obvious if you spend any sustained time there.
     
    #259 Nook, Jun 14, 2012
  20. Commodore

    Commodore Member

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    <script type="text/javascript" src="http://video.foxbusiness.com/v/embed.js?id=1697421211001&w=466&h=263"></script><noscript>Watch the latest video at <a href="http://video.foxbusiness.com">video.foxbusiness.com</a></noscript>
     
    #260 Commodore, Jun 21, 2012
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