What happened to all of the doom and gloom economic threads?

[unregistered]

 

[unregistered]

 

[4est_4est_Gump]

vette, I thought merc was going to provide you well-researched independent links to his claims along with eine kleine Zandi Musik...

 

[Wat_Tyler]

That's because George isn't making enough speculator's margin and has too little control.

 

[4est_4est_Gump]

How soon before we hit that all-important psychological barrier of 12k?

YOU can understand the self-congratulation. In the early hours of October 27th, after marathon talks, the leaders of the euro zone agreed on a “comprehensive package” to dispel the crisis that has been plaguing the euro zone for almost two years. They boosted a fund designed to shore up the euro zone’s troubled sovereign borrowers, drafted a plan to restore Europe’s banks, radically cut Greece’s burden of debt, and set out some ways to put the governance of the euro on a proper footing. After a summer overshadowed by the threat of financial collapse, they had shown the markets who was boss.

Yet in the light of day, the holes in the rescue plan are plain to see. The scheme is confused and unconvincing. Confused, because its financial engineering is too clever by half and vulnerable to unintended consequences. Unconvincing, because too many details are missing and the scheme at its core is not up to the job of safeguarding the euro.

This is the euro zone’s third comprehensive package this year. It is unlikely to be its last.

http://www.economist.com/node/21534849

Europe has got to this point because German politicians are convinced that without market pressure the euro zone’s troubled economies will slacken their efforts at reform (see article). Despite a list of promises presented to the summit by Silvio Berlusconi, Italy’s prime minister (see article), Germany has good reason to worry. But it needs to concentrate on institutional ways of disciplining profligate governments, rather than starving the rescue package of funds. As it is, this deal at best fails to solve the euro crisis; at worst it may even make it worse. As the shortcomings of each component become clear, investors’ fears will surely return, bond yields will rise and banks’ funding problems will worsen.

Yet again, disaster will loom. And yet again, the ECB will end up staving it off. Fortunately, Mario Draghi, the ECB’s incoming president, made it clear this week that he realises that is his job. But therein lies the tragedy of this summit. An ECB pledge of unlimited backing for solvent governments would have had a far better chance of solving the crisis months ago, and remains the best option today.

At this summit Europe’s leaders had hoped to prove that their resolve to back the euro was greater than the markets’ capacity to bet against it. For all the backslapping and brave words, they have once again failed. There will be more crises, and further summits. By the time they settle on a solution that works, the costs will have risen still further.

 

[4est_4est_Gump]

This was the week that European democracy died
The plan to tackle the eurozone crisis will only render ordinary people more powerless.
Janet Daley

In reality, everybody’s historical experience stands in the way of the EU economic and political union steamroller. Germany cannot comply with demands that it plunge enthusiastically into a quantitative easing programme – even though that would be one way of supplying the needed bail-out funds for Greece (and Italy, and Spain, and whoever goes belly up next) – because its terrifying collective memory of Weimar inflation puts such an option beyond the pale. And Mrs Merkel, however enthusiastic she may be about curtailing the democratic accountability of her euro-partners, is fully aware of her own electoral vulnerability: there will be no funny money run off the German printing presses even if her economy is probably robust enough now to cope with the consequences.

In an interview last week, George Soros said that this slow-motion train crash of the single currency reminds him of the fall of the Soviet Union. I assume that what he meant was that there was the same sense of inexorability – the inevitable collapse being forestalled by lots of last-ditch reforms and too little, too late measures that only nibbled at the edges of the real problem. The unthinkable remained unthought: this is a system that is inherently flawed, and therefore cannot be made to work in the terms in which it was envisaged.

Far from being an antidote to the ideological delusions of the past century, a trans-national superstate is the same sort of utopian, unnatural, ahistorical folly that earlier generations attempted to foist on the recalcitrant populations of Europe. Its doctrine of “co-operation” is simply coercion by another name. It relies on unswerving belief and enforced conformity, just like all the “year zero” political movements that ended in totalitarianism and terror in the past. The one hope is that the great mass of the people, unlike most of their political leaders, seem to understand all this quite clearly. It remains to be seen whether they will have to go out on the streets to make their case.

http://www.telegraph.co.uk/finance/...as-the-week-that-European-democracy-died.html

 

[mercury14]

Yawn...

Another tidal wave of righties spamming other people's opinions. Nothing like letting other people do your thinking for you, huh?

 

[mercury14]

You will never get it. Hell will probably freeze over before the taxpayer get's their money back.

Only if you put on the blinders and refuse to consider what's actually going on.

Not only that, but whose rule is it that the taxpayer even has to get all their money back in the first place? Do you also want the taxpayer to get their money back on Medicare spending? Do you want the US Navy to break even or maybe turn a little profit?

 

[koalabear]

Only if you put on the blinders and refuse to consider what's actually going on.

Not only that, but whose rule is it that the taxpayer even has to get all their money back in the first place? Do you also want the taxpayer to get their money back on Medicare spending? Do you want the US Navy to break even or maybe turn a little profit?

Nice comparison your ignorant fuck, MORON.

 

[unregistered]

 

[koalabear]

His thought process is a bit convoluted.

Too many Twinkies absorbed into the cranial cavity.

 

[unregistered]

 

[mercury14]

His thought process is a bit convoluted.

... says the man whose entire thought process is fed to him by other people.

 

[koalabear]

... says the man whose entire thought process is fed to him by other people.

Says the "shared account" MORON.

 

[mercury14]

Best thing I ever did on GB.


koalabear
This message is hidden because koalabear is on your ignore list.

 

[koalabear]

Best thing I ever did on GB.


koalabear
This message is hidden because koalabear is on your ignore list.

Yet you still bother, MORON.

 

[Beco]

As Obama would say, “ Take off your bedroom slippers, put on your marching shoes,”... Stop complaining, stop grumbling, stop crying. "

sound advice....

 

[4est_4est_Gump]

George Soros is not a right-wing blogger...



This guy is going insane right before our very eyes.

 

[Wat_Tyler]

As Obama would say, “ Take off your bedroom slippers, put on your marching shoes,”... Stop complaining, stop grumbling, stop crying. "

sound advice....

You have too many g's in your post.

 

[4est_4est_Gump]

You have too many g's in your post.

lmao...

 

[Wat_Tyler]

lmao...

I heard the clip.



Hillary was proud.

 

[4est_4est_Gump]

Ah am no ways tieh-ruhd...

 

[Wat_Tyler]

Ah don' feel no ways tieh-ruhd...

fyp . . . .

 

[4est_4est_Gump]

 

[Wat_Tyler]

It's a grungy job, but someone has to do it.