WTF is going with the EURO drama? One day the banks are bailing them out, now, not such much...insert BORAT...
The EURO CLUSTERFUCK..
- Thread starter Veritas
- Start date
European countries are over leveraged with little hopes for heavy longterm economic growth (Except Germany, who are basically the only ones who have their shit together). The countries individually can do little to help this with regards to monetary policy and inflation, as they are many different types of economies sharing one currency and central bank. Basically what has been going on to helping this situation is using more debt, and just transferring debt all around... Somebody is going to have to default sometime methinks.Then there are massive amounts of derivatives on this debt, with liabilities around the globe, creating essentially one big clusterfuck in the European bond market, and in turn the global financial market.
There's a part of me that hopes this is all just a media circus / show done to keep us on edge, in fear, and entertained. And that there's actually people behind the scenes who know what's going on, know what they're doing, have a proper plan and contingencies in place, etc. Right now, it just looks like a bunch of retarded Thais wandering around like lemmings, bumping into each other while deciding to change direction every 12 hours.
Or at least I hope this isn't the best and brightest the human race can produce, because if it is, we're all fucked.
Or at least I hope this isn't the best and brightest the human race can produce, because if it is, we're all fucked.
It's not the best and brightest that can be produced; but it is the best and brightest that will be voted into office.
The post-bailout gains were wiped out due to Papandreou's announcement that he was going to put the Grand Plan to a Confidence Vote in Parliament and, thereafter, a public referendum. The markets are starting to price in a 'no vote' result.
It isn't the plan or the banks that are causing the turmoil (even if its only delaying the inevitable) it is the risk that Greece and its people will vote against it, not wanting to face the austerity measures.
It isn't the plan or the banks that are causing the turmoil (even if its only delaying the inevitable) it is the risk that Greece and its people will vote against it, not wanting to face the austerity measures.
Democracy was born in Greece and they are giving the power back to the people where it belongs. One school of thought regarding all these bailouts is NOT to bail out and let the system crash and then reboot. If left to the voters, they will let it crash and burn. Is leaving the future in the hands of the people smart? 2 schools of thought... people are smart enough to rule themselves... people are stupid mother fucking sheeple who do what they are told by whoever has the most money to advertise to them what to do.
My bets are with the people... who will vote this down.. let Greece crash... and bring the rest of Europe down with them... the world economy crashes... Chinese peasants revolt as the Chinese export economy collapses and in a last ditch effort to save themselves or take everyone else with them... the PLA launches cyber, bio and military attacks to reduce their own population to controllable size, hobble the US ability to strike back, try to grab whatever natural resources they can during the havoc and save their own skins.
Anyone here know how to grow potatoes?
My bets are with the people... who will vote this down.. let Greece crash... and bring the rest of Europe down with them... the world economy crashes... Chinese peasants revolt as the Chinese export economy collapses and in a last ditch effort to save themselves or take everyone else with them... the PLA launches cyber, bio and military attacks to reduce their own population to controllable size, hobble the US ability to strike back, try to grab whatever natural resources they can during the havoc and save their own skins.
Anyone here know how to grow potatoes?
Yes, I think everyone should emigrate to the good ol' US of A.
That'll sure solve everything.
Europe =/ Eurozone.
It's pretty much north vs south here. North tends to be tax-paying, hard working and generally pretty sensible with investing in infrastructure. South is (seen as) the opposite. Italy and Greece etc will be getting a lot less tax revenue than they should be. We all have little hopes for heavy longterm economic growth because most of our exports go to the EU, and hell, you're in the same boat.
This.
There was a time when things were going alright in the US.
As far as the EU, there were always problems. They were just mitigated by creative accounting and tolerated as growing pains. Fact is, EU looks worse.
Imagine federal bureaucratic inefficiency. Now multiply it seventeen times across countries who have a long history of infighting and ethnocentrism, vastly different levels of tolerance to corruption, inefficiency and waste, different cultures, values and agendas and no history of respect to any central authority.
As far as the EU, there were always problems. They were just mitigated by creative accounting and tolerated as growing pains. Fact is, EU looks worse.
Imagine federal bureaucratic inefficiency. Now multiply it seventeen times across countries who have a long history of infighting and ethnocentrism, vastly different levels of tolerance to corruption, inefficiency and waste, different cultures, values and agendas and no history of respect to any central authority.
true, but the european states needed to take that hit for the long term benefit 20-30 years from now.
Im sure the American Union was the same when it began, The north frowing on slavery, and the south wanting to continue slavery. Very very different attitudes and culture.