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)
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28 thoughts on “What happens next?

  • The Dam Busters. A classic. Make for higher ground or drown.

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  • 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………………………………..

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  • 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.

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  • @2 Chrisa – more than likely, but likely to take years to play out. Order out of chaos indeed.

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  • “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?

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  • 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

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  • @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 …

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  • @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.

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  • Novice, this is not corporate capitalism, because under capitalism, bad businesses go bust. This is corporate fascism or, crony capitalism.

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  • freemanphil @9 “This is corporate fascism or, crony capitalism.”

    That’s a more accurate description I agree.

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  • @5 quiet guy – I’ve recently wondered if we’re being softened up for membership of the euro. Time will tell.

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  • i don’t want to belong to any club that would accept me as a member

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  • 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.

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  • devo, marx wasn’t marx.

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  • 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!

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  • @rumble

    unless you were joking last night, i have nothing to say to you

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  • 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.

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  • devo, how about you can choose the shape? Or the colour of the LEDs glowing beneath the skin?

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  • i’ll give you the benefit of the doubt

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  • Reply
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  • First, we earn your trust…

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  • 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/

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  • 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.

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  • 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

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  • MG, unless the politicians take the opportunity to create greater power entities to slime their way up.

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  • 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?

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  • What are the emigration options these days? India?

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  • 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.

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