Sunday, June 19, 2011

..and House Prices are too high

Trichet warns of widening global imbalances

"....the lessons to be drawn from the present situation are pushing us in the direction of bold changes in governance," he said. Trichet did not explain what these changes could be, saying it is "work in progress." Meanwhile...PM George Papandreou, appealed to Greeks on Sunday to support deeply unpopular austerity reforms and avoid a catastrophic bankruptcy. (Time to buy shares in a printing company?).

Posted by alan @ 07:06 PM (1649 views)
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6 thoughts on “..and House Prices are too high

  • general congreve says:

    Likes like some sort of thinly veiled Lizard code for herding us towards ENFORCED GLOBAL GOVERNANCE, MWAHAHAHAHAHAHA!!!!!

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  • general congreve says:

    @2 – Sounds like…

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  • ‘PM George Papandreou, appealed to Greeks on Sunday to support deeply unpopular austerity reforms and avoid a catastrophic bankruptcy.’

    ~ Of whom?

    Don’t you hate that NEW word “GOVERNANCE” It sounds like it’s coming from the wrong side.

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  • Just heard that Greece is to get another 10bn loan (BBC). This is to calm markets before Monday morning.

    Alas, when many countries borrow more than 150% of GDP, they cannot generate enough interest to stay afloat. So they default.

    As I said a few months back, when default was less certain – Greece is like a canary in a coal mine. What happens here will get repeated again in the Eurozone. Trichet is setting the stage for the future and he knows it all too well.

    If you want a sound manufacturing investment, find out who makes riot shields. There is going to be a European shortage before Christmas.

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  • @2. general congreve…

    Along with the enforced global serfdom.

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