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The Masked Tulip

Is The World Going Bankrupt?

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Is The World Going Bankrupt?

Europe and the US are hopelessly over-indebted. The crisis that started in the US real estate sector in 2007 has devastated state finances on both sides of the Atlantic and is threatening to wreck the euro and trigger a second global downturn. The world lacks the political leadership needed to end the turmoil.

http://www.spiegel.de/international/world/0,1518,779008,00.html

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I like this bit on the Eurozone:

The alternative is simple: Eurobonds. But at present, German officials are only mentioning that possibility in whispers. The common issuance of government debt is still a taboo in top government circles -- for the time being.

The German government fears that such bonds would entail major disadvantages for Europe's largest economy. The yield on them would be higher than on current German sovereign bonds, because the euro zone as a whole wouldn't be as creditworthy as Germany is on its own.

Hilarious, what could possibly go wrong? :D

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Have they fingered Gordon yet for his role at the epicentre of the London conference of passing the private debt bag to the tax payer and letting all the 'investors' get their money out of the banks?

Should have defaulted then. The culprits have long gone now.

Never mind Brown this started a long time ago with Blair this time.

Called The get along gang syndrome.lol

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Angela/Stumpy,

You really are brainwashed, seriously leave the koolaid alone for a few days, suggest you read a little. Blaming straw men for a chrisis such as this that genuinely has some real villains just makes you look daft. Step away from the keyboard and read, start here http://gregpytel.blogspot.com/2009/04/largest-heist-in-history.html

now go away quickly..

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Angela/Stumpy,

You really are brainwashed, seriously leave the koolaid alone for a few days, suggest you read a little. Blaming straw men for a chrisis such as this that genuinely has some real villains just makes you look daft. Step away from the keyboard and read, start here http://gregpytel.blogspot.com/2009/04/largest-heist-in-history.html

now go away quickly..

This is another

http://www.theatlantic.com/magazine/archive/2009/05/the-quiet-coup/7364/2/?single_page=true

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I've read it thanks.

if you have read it, then your comment is completely incongruous, you clearly have not understood it. Politicians have not helped , clearly, but blaming partisan one particular politician (what about Thatcher ffs ?) is pointless, not to mention ignorant, oh I forgot you are posting on hpc..carry on...

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I like this bit on the Eurozone:

Hilarious, what could possibly go wrong? :D

They really don't get the point of 'Europe' do they? :lol:

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Angela/Stumpy,

You really are brainwashed, seriously leave the koolaid alone for a few days, suggest you read a little. Blaming straw men for a chrisis such as this that genuinely has some real villains just makes you look daft. Step away from the keyboard and read, start here http://gregpytel.blogspot.com/2009/04/largest-heist-in-history.html

now go away quickly..

Greg Pytel is shrewd, incisive, but above all, polite - especially to people who challenge his viewpoint. I really respect that in a poster.

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I don't get it, I thought China and Germany were net creditors, or is that wholly down to the private sector which isn't included in the above?

There are 2 concepts here - net external creditor means the world owes china more than china owes the world. China is indeed a net external creditor.

China, however,has its own RMB liability (which it can prints).

Germany/Japan are also a net external creditor.

Eurozone fiscal consolidation is the way to go - A eurozones treasury at Bonn/Frankfurt/Berlin who will borrow, and then relend to all the Eurozone governments

and enforcing its own debt/GDP ratio.

Alternatively, ECB just print...

Edited by easybetman

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They really don't get the point of 'Europe' do they? :lol:

Yeah they do

Exploit everyone else...boss them about ..take all their money ...bankrupt them ..and then buy all their assets

All without a shot being fired.............yet

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I was simply pointing out that he bounced the yet to take office US democrat President and a reluctant France and Germany and then everyone else into a course of action he had no idea of the actual ramiifcations. Much with everything he ever f*cking touched it all turned to sh*T. :lol:

hmm, I'm with kenny.

GBs performance before and after the 2008 crisis wasn't good, but I think history will eventually show that during short moment he almost made up for the rest of it.

Controversial obviously.

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hmm, I'm with kenny.

GBs performance before and after the 2008 crisis wasn't good, but I think history will eventually show that during short moment he almost made up for the rest of it.

Controversial obviously.

GB threw good money after bad. His decision to support the banks rather than wind them down (and only supporting depositors up to the garanteed limit) is what is causing the much bigger problems we are seeing now. If anything that was his biggest mistake by far.

Read this very well written explanation of why this is so:

http://gregpytel.blogspot.com/2009/04/largest-heist-in-history.html

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hmm, I'm with kenny.

GBs performance before and after the 2008 crisis wasn't good, but I think history will eventually show that during short moment he almost made up for the rest of it.

Controversial obviously.

Heem.. you mean the moment when GB thought he has saved the world?

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Greg Pytel is shrewd, incisive, but above all, polite - especially to people who challenge his viewpoint. I really respect that in a poster.

+1 Especially since it is such a rare attribute.

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  • 333 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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