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Newsnight Now Greek hyperinflation, run on EU banks, UK... Rate Topic: ***** 1 Votes

#1 User is offline   The Masked Tulip 

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Posted 17 February 2012 - 10:55 PM

Will Hutton reckons that a Greek default will cause a run on banks in Ireland, Portugal and perhaps Spain. UK will be very bady hit. Hyperinflation in Greece.

Steph Flanders looks hot in tight skirt and boots - shame that she went with the two Eds.

This post has been edited by The Masked Tulip: 17 February 2012 - 11:19 PM

The success or failure of your deeds does not add up to the sum of your life. Your spirit cannot be weighed. Judge yourself by the intention of your actions and by the strength you faced the challenges that have stood in your way.

The people closest to you have been trying to tell you that you have made a difference. That you did change things for the better. The Universe is vast and we are so small. There is really only one thing that we can ever truly control - whether we are good or evil.


The political triumph of the American Right has been to advance relentlessly the economic interests of the country's richest people, while emphasising a swath of moral, social and foreign policy issues that motivate and certainly distract middle-class and poor voters.

#2 User is offline   John The Pessimist 

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Posted 17 February 2012 - 11:02 PM

In what way will the UK be badly hit? Drop in exports? Floods of immigrants? Shortages of couscous and humous?

BTW Will Hutton in a tight skirt & boots has a better chance of looking attractive than S Flanders (retches quietly).
Democracy only lasts until the unworthy discover that they can vote themselves the treasury.

You can choose the price you sell your house for, and you can choose when to sell your house, but you can't choose both.

#3 User is online   aSecureTenant 

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Posted 17 February 2012 - 11:06 PM

I thought Hutton was going to have a heart attack at one point.

Monday night sounds more interesting. Goldman Sachs and how it help Greece circumvent the economic rules to enter EU
"Capitalism has defeated communism. It is now well on its way to defeating democracy" - David Korten

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#4 User is offline   man o' the year 

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Posted 17 February 2012 - 11:12 PM

View Post"Steed", on 17 February 2012 - 11:06 PM, said:

I thought Hutton was going to have a heart attack at one point.

Monday night sounds more interesting. Goldman Sachs and how it help Greece circumvent the economic rules to enter EU


Agree Hutton was apoplectic and mentioned "domino effect of bank collapses and one of the worst affected would be us".
It must have been only 4 hours ago that I was driving home and listening to an expert on the radio "surprisingly good retail sales proving no 2nd recession and we are on the up".
Closer than you think!

This species has amused itself to debt.

#5 User is offline   The Masked Tulip 

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Posted 17 February 2012 - 11:19 PM

View PostJohn The Pessimist, on 17 February 2012 - 11:02 PM, said:

In what way will the UK be badly hit? Drop in exports? Floods of immigrants? Shortages of couscous and humous?





Alas, when he started about the UK Flanders interrupted him and turned the conversation back to Greece. :rolleyes:
The success or failure of your deeds does not add up to the sum of your life. Your spirit cannot be weighed. Judge yourself by the intention of your actions and by the strength you faced the challenges that have stood in your way.

The people closest to you have been trying to tell you that you have made a difference. That you did change things for the better. The Universe is vast and we are so small. There is really only one thing that we can ever truly control - whether we are good or evil.


The political triumph of the American Right has been to advance relentlessly the economic interests of the country's richest people, while emphasising a swath of moral, social and foreign policy issues that motivate and certainly distract middle-class and poor voters.

#6 User is offline   SleepyHead 

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Posted 17 February 2012 - 11:21 PM

View PostJohn The Pessimist, on 17 February 2012 - 11:02 PM, said:

In what way will the UK be badly hit? Drop in exports? Floods of immigrants? Shortages of couscous and humous?

BTW Will Hutton in a tight skirt & boots has a better chance of looking attractive than S Flanders (retches quietly).


All you need to know, is that Greece is essentially this...




#7 User is offline   strawbear 

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Posted 17 February 2012 - 11:29 PM

View Postman o, on 17 February 2012 - 11:12 PM, said:

Agree Hutton was apoplectic and mentioned "domino effect of bank collapses and one of the worst affected would be us".
It must have been only 4 hours ago that I was driving home and listening to an expert on the radio "surprisingly good retail sales proving no 2nd recession and we are on the up".
Yes i listened to that retail sales up ,and also that consumer confidence is up following a fall in inflation,recovery locked in . 3 hours later it is record diesel prices just hit and this will impact on almost everything and stoke inflation (seems like Merves temporary inflationary high oil prices ,which he said have now receded are coming back) ,cant see that restoring consumer confidence for long. Then we get newsnight.

#8 User is offline   SnapCrackleNPop 

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Posted 17 February 2012 - 11:38 PM

View PostJohn The Pessimist, on 17 February 2012 - 11:02 PM, said:

In what way will the UK be badly hit? Drop in exports? Floods of immigrants? Shortages of couscous and humous?

BTW Will Hutton in a tight skirt & boots has a better chance of looking attractive than S Flanders (retches quietly).

A Credit-default swap trigger.


View Postman o, on 17 February 2012 - 11:12 PM, said:

Agree Hutton was apoplectic and mentioned "domino effect of bank collapses and one of the worst affected would be us".
It must have been only 4 hours ago that I was driving home and listening to an expert on the radio "surprisingly good retail sales proving no 2nd recession and we are on the up".

Any excuse to give the service economy its dose of opium.
"We must not let our rulers load us with perpetual debt" Thomas Jefferson.


"The modern banking system manufactures money out of nothing" Josiah Stamp.

#9 User is offline   no accountant 

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Posted 17 February 2012 - 11:42 PM

View Postman o, on 17 February 2012 - 11:12 PM, said:

Agree Hutton was apoplectic and mentioned "domino effect of bank collapses and one of the worst affected would be us".

The one and only good thing that Gordon Brown did was nothing i.e. to keep us out of the euro. Blair would have had us in, as would the Lib Dems.
We rent for 1350 a month. The landlord needs ~3350to get a 7% net return on current asset value.

#10 User is offline   The Masked Tulip 

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Posted 18 February 2012 - 12:01 AM

Most of the papers are running stories about stock markets rallying ahead of a Greek bail-out on Monday, and Newsnight run an end of the global economy programme.
The success or failure of your deeds does not add up to the sum of your life. Your spirit cannot be weighed. Judge yourself by the intention of your actions and by the strength you faced the challenges that have stood in your way.

The people closest to you have been trying to tell you that you have made a difference. That you did change things for the better. The Universe is vast and we are so small. There is really only one thing that we can ever truly control - whether we are good or evil.


The political triumph of the American Right has been to advance relentlessly the economic interests of the country's richest people, while emphasising a swath of moral, social and foreign policy issues that motivate and certainly distract middle-class and poor voters.

#11 User is offline   RufflesTheGuineaPig 

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Posted 18 February 2012 - 12:34 AM

As John McClane said.

I hate it when I'm right.
It's time to pay the piper. There is no magician who will magic away the debt. Someone is going to have to pay it. Bend over and prepare to make payment.

In this glorious nation of ours, if you work hard and keep your head down for 25 years then you too can aspire to own one-eighth of a one bedroom flat in Manchester.


My mum and day always tell me how important it is to save to buy a house. They should know, it took them nearly 6 months to save for theirs. As teenagers, they bought a 3 bed semi.

#12 User is offline   stormymonday_2011 

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Posted 18 February 2012 - 12:58 AM

View Postman o, on 17 February 2012 - 11:12 PM, said:

Agree Hutton was apoplectic and mentioned "domino effect of bank collapses and one of the worst affected would be us".
It must have been only 4 hours ago that I was driving home and listening to an expert on the radio "surprisingly good retail sales proving no 2nd recession and we are on the up".


Probably worrying about his family property portfolio .

This post has been edited by stormymonday_2011: 18 February 2012 - 01:09 AM

The certainty of misery is preferable to the the misery of uncertainty

#13 User is offline   dances with sheeple 

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Posted 18 February 2012 - 01:22 AM

View Poststormymonday_2011, on 18 February 2012 - 12:58 AM, said:

Probably worrying about his family property portfolio .


Is it in Greece? He looked in a right flap, totally stressed about the whole thing.

#14 User is offline   CrashConnoisseur 

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Posted 18 February 2012 - 01:54 AM

View Postno accountant, on 17 February 2012 - 11:42 PM, said:

The one and only good thing that Gordon Brown did was nothing i.e. to keep us out of the euro. Blair would have had us in, as would the Lib Dems.


Setting up the Debt Management Office was another. They've done a sterling job (pun intended) of managing the nation's debt and pushing out the average maturity to almost 15 years. It's one of the main reasons why UK interest rates can be kept low and a financing crisis avoided.

I do find it amusing that their office is in Philpot Lane.

Posted Image

This post has been edited by CrashConnoisseur: 18 February 2012 - 01:58 AM


#15 User is offline   Mikhail Liebenstein 

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Posted 18 February 2012 - 08:13 AM

View Post"Steed", on 17 February 2012 - 11:06 PM, said:

I thought Hutton was going to have a heart attack at one point.

Monday night sounds more interesting. Goldman Sachs and how it help Greece circumvent the economic rules to enter EU


True, and the only just way out is to transfer the entire Greek debt to Goldman Sachs. Make them repay it for their fraud.

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