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    Already miss the 310/562 2manymustangs's Avatar
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    Default The Euro...

    Three months ago I watched Warren Buffett clearly state that it was a matter of WHEN not IF the Euro would fall apart... Looks like it's going to happen soon...

    Germany is sick of supporting countries like Greece and other socialist experiments (Spain, etc)

    Much like the conservative states in the U.S. are sick of supporting states like Illinois...

    Will "progressives" learn anything from the E.U. falling apart? Unlikely... It was just a few short months ago that the "progressives" were praising the european model of health care for all...


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    Pat Eason, the voice of reason...

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    Quote Originally Posted by 2manymustangs View Post
    Will "progressives" learn anything from the E.U. falling apart? Unlikely... It was just a few short months ago that the "progressives" were praising the european model of health care for all...

    ]
    Yup. And that is probably why it is barely covered in the MSM.
    This article shows the disastrous Italy bond auction Fri. (6.5%)
    http://www.reuters.com/article/2011/...7AO0EL20111125
    And the Germans couldn't sell all their bonds. http://www.kansascity.com/2011/11/28...save-euro.html
    One reason it isn't covered is that "Allowing a central European authority to have some control over the budgets of sovereign nations" as the article states, is a step toward one world govt.
    The other reason is that it showcases the failure of socialist Europe. A bailout by the IMF means US taxpayers paying for their mistakes, when we already can't pay for our mistakes in the past, much less Obama's future plans.
    The EU buys 20% of our exports like the article states. That's a lot of American jobs at stake. That's $242 Billion they buy every year from us.
    The alternative to letting them fail is giving them loan guarantees of something like $7 trillion? No thanks. Obama must know he would have to keep any bailout quiet, or the TEA party will join hands with the OWS and set the WH on fire with him in it.
    Now tell me why the fock the stock market is up? We can still sell US T-bonds for a low rate, for now. But I don't see any other good news.
    Last edited by SBjet; 11-29-2011 at 02:04 PM.
    Quote Originally Posted by Tom Brown View Post
    I'm still chuckling at being "poo-pooed" for straying off topic. Awesome.

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    mjc
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    In england you can bet on what the Euro and some of the countries will do.


    "Bookmaker William Hill was offering 6-5 odds Tuesday on Greece leaving the euro by the end of 2012, and 7-2 on the single currency ceasing to exist by the same date."



    In Britain, European financial crisis is an opportunity for gamblers - The Washington Post

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    Quote Originally Posted by SBjet View Post
    Yup. And that is probably why it is barely covered in the MSM.
    This article shows the disastrous Italy bond auction Fri. (6.5%)
    Awful Italy debt sale heightens euro zone stress | Reuters
    And the Germans couldn't sell all their bonds. Pressure builds as eurozone ponders debt solutions - KansasCity.com
    One reason it isn't covered is that "Allowing a central European authority to have some control over the budgets of sovereign nations" as the article states, is a step toward one world govt.
    The other reason is that it showcases the failure of socialist Europe. A bailout by the IMF means US taxpayers paying for their mistakes, when we already can't pay for our mistakes in the past, much less Obama's future plans.
    The EU buys 20% of our exports like the article states. That's a lot of American jobs at stake. That's $242 Billion they buy every year from us.
    The alternative to letting them fail is giving them loan guarantees of something like $7 trillion? No thanks. Obama must know he would have to keep any bailout quiet, or the TEA party will join hands with the OWS and set the WH on fire with him in it.
    Now tell me why the fock the stock market is up? We can still sell US T-bonds for a low rate, for now. But I don't see any other good news.
    I heard analyists saying that the bulls were charging due to the upbeat BLACK FRIDAY reports... The strongest black friday in history and up 6.6% from the previous record high... ( I think it was 11.6 billion or something like that)

    ALSO they said that new housing starts are up slightly...

    Barry S. was already campaigning for the IMF and how WE THE PEOPLE need to ensure that the european markets stay solvent since we sell SOOOOOOO much to the europas'...
    Last edited by 2manymustangs; 11-29-2011 at 04:31 PM.
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    The ECB and IMF was kind of hoping that China and Russia would come to the rescue from what I have read. Unfortunately, it looks like China is in the beginning stages of a collapsing real estate bubble that is bigger than the one we are still feeling the effects of, so they will be of no help. I read yesterday that Obama has said we are not going to give any more money to help fix the problem in the EU. So it looks like there are going to be some serious financial problems throughout the world over the next couple of years, if not longer. Some good can come out of this for the US, 1) China will stop building, which will decrease demand for building materials which will force prices lower. This would be an excellent time to invest the failing infrastructure here in th US, which will put people back to work. 2) With the collapse and possible elimination of the Euro, along with huge economic problems in China, the safe world reserve currency will continue to be the dollar, which of course benefits us. The stock markets, oil, and precious metals will probalbly fluctuate wildly over the next decade or so, but in the long run, I think we will remain the world's economic power when it is all said and done.

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    Quote Originally Posted by ram78d10 View Post
    The ECB and IMF was kind of hoping that China and Russia would come to the rescue from what I have read. Unfortunately, it looks like China is in the beginning stages of a collapsing real estate bubble that is bigger than the one we are still feeling the effects of, so they will be of no help. I read yesterday that Obama has said we are not going to give any more money to help fix the problem in the EU. So it looks like there are going to be some serious financial problems throughout the world over the next couple of years, if not longer. Some good can come out of this for the US, 1) China will stop building, which will decrease demand for building materials which will force prices lower. This would be an excellent time to invest the failing infrastructure here in th US, which will put people back to work. 2) With the collapse and possible elimination of the Euro, along with huge economic problems in China, the safe world reserve currency will continue to be the dollar, which of course benefits us. The stock markets, oil, and precious metals will probalbly fluctuate wildly over the next decade or so, but in the long run, I think we will remain the world's economic power when it is all said and done.
    While your making your predictions how about giving us your views on how things will unfold in Iran, what with the UK Embassy being looted/burned... The sanctions AND the IAEA finally deciding to come clean and take off the rose colored glasses about Iran's nuclear enrichment program....

    That AND Syria, with even the Muzzies pushing back on the military actions against protesters...
    Last edited by 2manymustangs; 11-29-2011 at 05:04 PM.
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    Quote Originally Posted by 2manymustangs View Post
    While your making your predictions how about giving us your views on how things will unfold in Iran, what with the UK Embassy being looted/burned... The sanctions AND the IAEA finally deciding to come clean and take off the rose colored glasses about Iran's nuclear enrichment program....

    That AND Syria, with even the Muzzies pushing back on the military actions against protesters...
    What does that have to do with the euro?

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    Quote Originally Posted by ram78d10 View Post
    What does that have to do with the euro?
    You threw CHINA and to a lesser degree the Ruskies, oil, precious metals and our stock markets... Why stop there.....
    Pat Eason, the voice of reason...

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    Quote Originally Posted by 2manymustangs View Post
    You threw CHINA and to a lesser degree the Ruskies, oil, precious metals and our stock markets... Why stop there.....
    In regards to what is happening with the euro. The British Embassy in Iran, and a bunch of angry college students tearing down the Union Jack have nothing to do with the Euro. You seem so lost ever since Glenn Beck ended his show on Fox. What are you going to do?

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    Quote Originally Posted by 2manymustangs View Post
    Three months ago I watched Warren Buffett clearly state that it was a matter of WHEN not IF the Euro would fall apart... Looks like it's going to happen soon...

    Germany is sick of supporting countries like Greece and other socialist experiments (Spain, etc)

    Much like the conservative states in the U.S. are sick of supporting states like Illinois...

    Will "progressives" learn anything from the E.U. falling apart? Unlikely... It was just a few short months ago that the "progressives" were praising the european model of health care for all...


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    I have been hearing for years we would be changing over to the Euro.

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    Britain, Norway and Switzerland were smart to stay off the Euro, and now get to watch the whole thing collapse.

    The EU they didnt follow their own rules when the whole thing came together. HAd they done so they wouldnt be in nearly the position they are today.

    The "rules" stated that neither existing or pledging member countries could not have a debt to GDP ratio of beyond "X" to become part of the union. (unsure of this exact #) to keep the whole thing from becoming a wealth transfer mechanism from rich to poor countries.

    Greece Spain and Portugal were never remotely under the threshold, but the EU founders looked the other way as carving out the heart of Europe didnt feel very "union". Add in banking crises and a recession and other countries like Ireland.

    The whole thing was and is nothing more than a trading block designed to take US jobs (think EADS vs Boeing) and be able to whipsaw our businesses legally operating out of Europe.

    The poor countries saw this as a way to get an easy credit line increase and the powerful countries saw it as a way to control the interest rates in the EU zone, pressure competing business interests, (like the suit against microsoft) and have the weaker countries eating out of their hands.

    Time to check into reality hotel bitches....the bill is due and your deal didn't work out.
    They can make up as many euphimisms as they want "restratification" "restructuring" whatever, bankrupt is bankrupt.

    Let these arrogant pricks keep the Iranians and the Russian at bay themselves and disband NATO - time to pay the bill for your own defense.

    Game over, and while you are at it.....(in a super high pitch voice) go fuck yaself.


    Uncle Dave
    Last edited by Uncle Dave; 12-01-2011 at 07:03 AM. Reason: spelling clarity

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    Quote Originally Posted by Uncle Dave View Post
    The "rules" stated that neither existing or pledging member countries could not have a debt to GDP ratio of beyond "X" to become part of the union.
    Nice post.
    The Greeks lied about their #s and laughed about how they ripped off the EU. There should be a "B league" for them. After you get kicked out of the EU, you have to go to the African Zone or something.
    Quote Originally Posted by Tom Brown View Post
    I'm still chuckling at being "poo-pooed" for straying off topic. Awesome.

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    Quote Originally Posted by SBjet View Post
    Nice post.
    The Greeks lied about their #s and laughed about how they ripped off the EU. There should be a "B league" for them. After you get kicked out of the EU, you have to go to the African Zone or something.
    Thanks.

    Being involved in a global business the last 16 years has really given me some perspective on this issue.

    The EU is really in it on this one- how do you reintroduce an old currency back into a country?
    You have to basically be prepared to buy all the euros out with what amounts to a fledgeling currency overnight.
    Stores have to stop taking euros overnight and bank account need to be forced to a monetary unit that would not be 1-1 in other words everyone in the entire country takes an immediate haircut.

    A terrible price to pay for a lack of vision and belief in politicians (a class of people we know can never be trusted)

    UD

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    Default Beck....?

    Seems to me I heard Beck predicting all this about 2 years ago.... Something about the Euro being a big step in Soros' agenda for his "One World Order" economy, where ALL the people are dependent upon the World Order gov't for sustenance... If obama gets another 4 years, (in office, not prison), Soros will make sure the Euro survives and the dollar fails while pulling obama's puppet strings...
    Ray
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