Sunday, February 14, 2010
What happens next?
Why Euro’s woes should scare us all
Greece is the trigger for a so-called sovereign debt crisis that is every bit as bad as the turbulence caused by the collapse of Lehman Brothers, the American investment bank, in September 2008. Fears that countries will default on their debts spread to other eurozone economies, notably Portugal, Spain, Italy and Ireland, but also to Britain, America and Japan. The crisis causes a second damaging downward leg to the global recession, more serious this time because governments and central banks would no longer have the ammunition to head it off. The spectre of a second Great Depression looms once more.
Posted by devo @ 07:02 PM (2213 views)
28 thoughts on “What happens next?”
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novice pete says:
The Dam Busters. A classic. Make for higher ground or drown.
chrisa says:
More likely using the threat of a second Great Depression as a cover this will be used as an opportunity to cancel all debt, government and private, remove all existing fiat currency and replace with a new One World currency, probably electronic. Implanted microchips to follow………………………………..
freemanphil says:
This article says that the crisis will lead to more integration. Expect us to be scared into giving away more sovereignty. They will say that too many leaders is causing a problem and we must have a stronger presidency.
layers says:
@2 Chrisa – more than likely, but likely to take years to play out. Order out of chaos indeed.
quiet guy says:
“What happens next?”
Either we ask Greece for a loan or Britian will join the Euro.
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/7216087/Britain-should-join-euro-despite-Greece-crisis-says-Mandelson.html
Here’s a little exercise for readers: which of my sarcastic comments is the bigger joke?
devo says:
4. layers said… likely to take years to play out
they haven’t got years – it’s collapsing around their ears as we speak
Germany growls as Greece balks at immolation
By Ambrose Evans-Pritchard
Published: 7:49PM GMT 14 Feb 2010
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/7236019/Germany-growls-as-Greece-balks-at-immolation.html
quiet guy says:
@freemanphil
Here’s a German economist’s take on the relative merits of Merkel’s leadership versus Sarkozy:
http://www.berninger.de/crisis-analysis-opinion/datum/2010/02/10/greece-the-bond-markets-bear-stears.html
It would be a shame to waste a crisis like this …
novice pete says:
@4 layers, or chaos is order, the super powers (bankers/corporates) let the masses enslave/destroy each other.
Let’s not forget what has lead to this fiasco, extreme corporate capitalism. A few are creaming the wealth of the many by mass manipulation. Russian revolution, and now Oligarchs.
freemanphil says:
Novice, this is not corporate capitalism, because under capitalism, bad businesses go bust. This is corporate fascism or, crony capitalism.
novice pete says:
freemanphil @9 “This is corporate fascism or, crony capitalism.”
That’s a more accurate description I agree.
alan_540 says:
@5 quiet guy – I’ve recently wondered if we’re being softened up for membership of the euro. Time will tell.
devo says:
i don’t want to belong to any club that would accept me as a member
mander says:
Chrisa,
You may have just guessed what is coming: One world currency. Are we being scared off now to maybe accept the Antichrist money? Well maybe the Greeks known as good Christians are the first to be scared off.
rumble says:
devo, marx wasn’t marx.
alan says:
There seems to be very little comment by UK politicians. Are they keeping their heads down or have they stuck their heads in the sand?
The most up to date information seems to be in the Guardian, and that doesn’t mention any comment from Darling etc. Whatever happened to the leadership which saved the world (Gordon, of course)?
I expect more brinkmanship tomorrow by Germany, France and Greece. All of which won’t help Portugal and Spain. Why waste a good crisis, indeed!
devo says:
@rumble
unless you were joking last night, i have nothing to say to you
little professor says:
Everyone’s gone mad 🙁
I’m off to join the Alex Jones forums, will probably get more rationale debate there than here.
rumble says:
devo, how about you can choose the shape? Or the colour of the LEDs glowing beneath the skin?
devo says:
i’ll give you the benefit of the doubt
novice pete says:
rumble says:
First, we earn your trust…
devo says:
does the human race need to upgrade itself with technology and implants? warwick believes it does.in this video interview the professor explains how and why he put his nervous system online, and discusses other experiments he’s conducted – using cells taken from rat brains to power the decisions of robot bodies.
professor kevin warwick of the university of reading’s cybernetics department used to be a cyborg. He’s had an RFID chip implanted in his arm and, more recently, an implant in his nervous system enabling him to control a robotic hand with his brain.
http://www.silicon.com/technology/hardware/2010/02/10/artificial-intelligence-ex-cyborg-kevin-warwick-on-mixing-man-and-machine-39745441/
mountain goat says:
A recession divides people and makes them angry. One world currency concept is hangover from the credit-bubble economy of the past. Forget it and move on.
devo says:
23. mountain goat said… One world currency concept is hangover from the credit-bubble economy of the past. Forget it and move on.
move on to what
rumble says:
MG, unless the politicians take the opportunity to create greater power entities to slime their way up.
mountain goat says:
Move on to worrying about more likely problems you will face if there is a great depression. How will you provide for your family? Are your savings secure? Is your job secure?
rumble says:
What are the emigration options these days? India?
Crunchy says:
It’s good to see this thread finally starting to face reality.
LP, you will submit eventually. Better late than never.
When plane wings can penetrate steel girders nothing is off the table.
Stick to logic.