The Genius of Mutual Indebtedness

[V8KSN]

I don't normally venture into this forum but I was sent this link this morning and I found it quite amusing so I am posting it here....

http://www.youtube.com/watch?v=TN_1mF-3JTI

I apologise in advance if it's a repost.

[Blackpuddin]

He's a class act, whatever you think of his politics, but the theatricality of his performance totally works against him as it permits those other EU deadlegs to pigeonhole him as an attention-seeker with no substance, and ignore him.

[The Don of Croy]

The more I see, the more I like his utterances.

Makes more sense than a lot of what comes out of that talking shop.

Also, nice to see so many foreign comments on the clip - people are looking for help...

[AJS-]

Gets my vote.

[whoami]

V8KSN said:

I don't normally venture into this forum but I was sent this link this morning and I found it quite amusing so I am posting it here....

http://www.youtube.com/watch?v=TN_1mF-3JTI

I apologise in advance if it's a repost.

I saw that yesterday.

If what he says is totally accurate, then the whole thing is even more catastrophic than I thought.

[superkartracer]

Scary stuff indeed

[Greg_D]

As usual, he speaks a lot of sense and shines a light on the deficiencies and uncomfortable truths surrounding the eurozone. TBH, the whole shooting match is terrifying, i honestly do not see a way out of this (at least not for a very very long time)

[odyssey2200]

http://www.youtube.com/watch?v=I5QwKEwo4Bc

This needs updating to the new figures.

[The Don of Croy]

Interesting piece in the DT today about Argentina in 2001, biggest default in history (at the time), following a decade of 6% growth and low unemployment. All built on borrowing and trying to shadow the USD.

Never forget that when the solids hit the fan, the Argie Gov't confiscated private pensions (among other extreme measures).

Not to mention 39 people killed in rioting.

When the reckoning comes, it'll be big and probably messy. What a gift to my children...

[Pesty]

odyssey2200 said:

http://www.youtube.com/watch?v=I5QwKEwo4Bc

This needs updating to the new figures.

I like that

Good job its a comedy piece makes the euro economy look like a farce.

[Cheib]

The Don of Croy said:

Interesting piece in the DT today about Argentina in 2001, biggest default in history (at the time), following a decade of 6% growth and low unemployment. All built on borrowing and trying to shadow the USD.

Never forget that when the solids hit the fan, the Argie Gov't confiscated private pensions (among other extreme measures).

Not to mention 39 people killed in rioting.

When the reckoning comes, it'll be big and probably messy. What a gift to my children...

For students of history this is an interesting piece....I for one didn't know that the 1930's crash started in a small European country.....and obviously ended up taking America with it. Some interesting parallels.

http://www.creditwritedowns.com/2012/06/welcome-ba...

[odyssey2200]

Pesty said:

odyssey2200 said:

http://www.youtube.com/watch?v=I5QwKEwo4Bc

This needs updating to the new figures.

I like that

Good job its a comedy piece makes the euro economy look like a farce.

I think it's probably worse than Clarke & Daw have portrayed it.

[Ozzie Osmond]

whoami said:

If what he says is totally accurate.....

Farage is an idiot of epic proportions so the chances of any "accuracy" creeping into his ramblings is very samll indeed. Fortunately for UK and the rest of Europe he is in charge of absolutely nothing.

Mind you, here in UK we're supposed to believe our own economic problems can, yet again, be blamed on Johnny Foreigner and there's nothing to fret about,

• USA started it with toxic debt from home loans
• Eurozone is in trouble now
• UK still has Queen and Empire, won the war (x2), won the world cup. Collapse of Northern Rock and Lloyds TSB was nothing to do with us!

In my opinion the policies of banks and government have been hell-bent on destroying the value of "money" for the past 10 years. Blair/Brown and thair mates in the the City (our proud world-leading centre of finance) are right at the hub of the trouble.

http://www.guardian.co.uk/business/2012/jun/15/eur...

[Einion Yrth]

Ozzie Osmond said:

Farage is an idiot of epic proportions

Truly, you are a master of irony, Mr. Osmond.

[Blackpuddin]

If destroying the value of money is official Govt policy then they're a lot cleverer than I gave them credit for.

[FarleyRusk]

Nigel Farage on the loose is the European parliament is a sight to behold. Sure he'd rude (or direct if you prefer), but no one can touch him because he's bloody right of course. The bust is inevitable and kicking the can down the road only makes it bigger. If anyone is interested, the Target2 (Euro patment system) imbalances are growing explosively as weak Euros are being exchanged for strong ones. There's no cause for concern though as the indebtedness in the payment system is fully collaterialised. Pure genius that the Italians can issue an IOU and cover it with their own bonds. This one's going to end well, I can tell...

From the Euro Crisis Monitor site at the University of Osnabruek in Austria -

http://www.iew.uni-osnabrueck.de/en/8959.htm

[odyssey2200]

Germany

[FarleyRusk]

Oops. It even has a .de domain doesn't it?