Is the end nigh for the Euro? [vol. 3]

[Steffan]

Mermaid said:

Greenspan interview yesterday - he was not optimistic about Europe.

I doubt if he is alone in that view. I really think that the French nonsense and the EU deception ought to be seen for what it s. Dishonest. Self serving. Unsustainable. The New Labour party did it's best to destroy the UK economy and five years later we are just about moving forward again. Hollande is an absolute disgrace and like most socialists in this day and age looking only after himself. Quite how there can be a recovery within the EU with all this lot stacked up against such a recovery I have no idea. Printing money may hide the truth but it will never actually create wealth or enterprise or manufacturing or any form of economic recovery. It s downright fraud. But the EU leaders seem happy to use such an approach so long as their personal wealth and graft train membership is pet on rolling along. No doubt squirrelled away outside the EU for retirement comforts.

[Mermaid]

Steffan said:

I doubt if he is alone in that view. I really think that the French nonsense and the EU deception ought to be seen for what it s. Dishonest. Self serving. Unsustainable. The New Labour party did it's best to destroy the UK economy and five years later we are just about moving forward again. Hollande is an absolute disgrace and like most socialists in this day and age looking only after himself. Quite how there can be a recovery within the EU with all this lot stacked up against such a recovery I have no idea. Printing money may hide the truth but it will never actually create wealth or enterprise or manufacturing or any form of economic recovery. It s downright fraud. But the EU leaders seem happy to use such an approach so long as their personal wealth and graft train membership is pet on rolling along. No doubt squirrelled away outside the EU for retirement comforts.

Ponzi schemes everywhere

A bit tin-fol but regardless

http://www.arabianmoney.net/us-dollar/2014/09/04/d...

[RichardD]

Andy Zarse said:

...the AE-P article, as per normal he over-eggs the pudding. ....

He is on a roll this week !

Eurozone on cusp of triple-dip recession as German exports crumble

http://www.telegraph.co.uk/finance/financialcrisis...

[turbobloke]

RichardD said:

Andy Zarse said:

...the AE-P article, as per normal he over-eggs the pudding. ....

He is on a roll this week !

Eurozone on cusp of triple-dip recession as German exports crumble

http://www.telegraph.co.uk/finance/financialcrisis...

Vince Cable 2 years ago. Does he still hold the same views and will be be re-elected anyway.

http://www.independent.co.uk/news/uk/politics/cabl...

[Andy Zarse]

turbobloke said:

Vince Cable 2 years ago. Does he still hold the same views and will be be re-elected anyway.

http://www.independent.co.uk/news/uk/politics/cabl...

Just because Vince predicted the credit crunch some people think he is some sort of soothsayer. In which case I think it might be a valuable exercise to eviscerate him and search for the fate of the Lib Dims at the next election within his entrails. Beware the Ides of Huhne!

[turbobloke]

Andy Zarse said:

turbobloke said:

Vince Cable 2 years ago. Does he still hold the same views and will be be re-elected anyway.

http://www.independent.co.uk/news/uk/politics/cabl...

Just because Vince predicted the credit crunch some people think he is some sort of soothsayer. In which case I think it might be a valuable exercise to eviscerate him and search for the fate of the Lib Dims at the next election within his entrails. Beware the Ides of Huhne!

Maybe he had his appendix out but forgot his specs when examining it - he wanted Gideon to shift to Plan B, giving him the role of Pod in The Borrowers 2.

[Andy Zarse]

turbobloke said:

Andy Zarse said:

turbobloke said:

Vince Cable 2 years ago. Does he still hold the same views and will be be re-elected anyway.

http://www.independent.co.uk/news/uk/politics/cabl...

Just because Vince predicted the credit crunch some people think he is some sort of soothsayer. In which case I think it might be a valuable exercise to eviscerate him and search for the fate of the Lib Dims at the next election within his entrails. Beware the Ides of Huhne!

Maybe he had his appendix out but forgot his specs when examining it - he wanted Gideon to shift to Plan B, giving him the role of Pod in The Borrowers 2.

Perhaps it got lost in the Post Office flotation?

[turbobloke]

Andy Zarse said:

turbobloke said:

Andy Zarse said:

turbobloke said:

Vince Cable 2 years ago. Does he still hold the same views and will be be re-elected anyway.

http://www.independent.co.uk/news/uk/politics/cabl...

Just because Vince predicted the credit crunch some people think he is some sort of soothsayer. In which case I think it might be a valuable exercise to eviscerate him and search for the fate of the Lib Dims at the next election within his entrails. Beware the Ides of Huhne!

Maybe he had his appendix out but forgot his specs when examining it - he wanted Gideon to shift to Plan B, giving him the role of Pod in The Borrowers 2.

Perhaps it got lost in the Post Office flotation?

At least City AM has a love-fest for this maligned London-centric guru.

http://www.cityam.com/blog/1387450533/vince-cable-...

[Walford]

why do these people keep coming out with all this crap, ok he might be right this time it could end in tears, but the fact remains, from day 1 there was a boom, and it ended 8 years later in bust, the euro has never worked, now they,ve had 6 years to fix it and failed, these are what I call "facts"

[anonymous-user]

You have to love the LibDims business guru attacking the centre of UK business. Cretin.

[Andy Zarse]

Walford said:

why do these people keep coming out with all this crap, ok he might be right this time it could end in tears, but the fact remains, from day 1 there was a boom, and it ended 8 years later in bust, the euro has never worked, now they,ve had 6 years to fix it and failed, these are what I call "facts"

Here's another nice little fact.

Some people will be aware that international accounting standards have been revised. National accounts revisions under the ESA 10 banner have in general boosted recorded economic output. There is now one major exception; Greece. It is a crude measure to add up the annual GDP changes from 2008-13 but if you do the answer is -2.8%. So they're actually nearly 3% worse off than they thought they were, not that it makes any real difference to the poor blighters.

I was also saddened to learn the famous Greek riot dog Loukanikos has died.

http://www.theguardian.com/business/2014/oct/09/gr...

RIP brave lad.

[LongQ]

Andy Zarse said:

Here's another nice little fact.

Some people will be aware that international accounting standards have been revised. National accounts revisions under the ESA 10 banner have in general boosted recorded economic output. There is now one major exception; Greece. It is a crude measure to add up the annual GDP changes from 2008-13 but if you do the answer is -2.8%. So they're actually nearly 3% worse off than they thought they were, not that it makes any real difference to the poor blighters.

Presumably these are not the New Measurement Criteria that are to include an 'estimate' of the "black economies" to arrive at a GDP figure?

[DJRC]

Re: Germany...whilst Steffan is fond of reprinting my France is toast analysis, my German observations from back in the day have seemingly vanished in the ether. Between the Nazis setting the peg and Angie getting re-elected we had a few margin calls on the German tax payers. I made several comments over the months that sooner or later the German well would run dry and worse the German electorate well of optimism and belief would run dry. I expected Angie to be asked some questions in their general election but it is a mark of how inept the social democrats are over there that they failed dismally. The point being, post ramble, that said chickens are now coming home to roost. Those issues that Angie should have had to face but dodged are now giving her a bh slapping.

I do hate it when I'm right, because it usually means someone somewhere has right utterly fked up.

[steveT350C]

DJRC said:

Re: Germany...whilst Steffan is fond of reprinting my France is toast analysis, my German observations from back in the day have seemingly vanished in the ether. Between the Nazis setting the peg and Angie getting re-elected we had a few margin calls on the German tax payers. I made several comments over the months that sooner or later the German well would run dry and worse the German electorate well of optimism and belief would run dry. I expected Angie to be asked some questions in their general election but it is a mark of how inept the social democrats are over there that they failed dismally. The point being, post ramble, that said chickens are now coming home to roost. Those issues that Angie should have had to face but dodged are now giving her a bh slapping.

I do hate it when I'm right, because it usually means someone somewhere has right utterly fked up.

Someone across the pond agrees with you...

http://www.washingtonpost.com/blogs/wonkblog/wp/20...

[DJRC]

No Steve that article is talking about something different.

[steveT350C]

DJRC said:

No Steve that article is talking about something different.

Sorry DJRC. I was sent it a couple of days ago, remembered it after reading your post and thought it was relevant.

My coat is somewhere around here.

[London424]

http://www.rte.ie/news/business/2014/0411/608218-s...

I see Finland is being pulled down the plug hole.

[Andy Zarse]

LongQ said:

Presumably these are not the New Measurement Criteria that are to include an 'estimate' of the "black economies" to arrive at a GDP figure?

Yes I believe they are. Even adding in coke and hookers gives a negative result. I'm assuming nobody in Athens can now even afford to get noshed off behind the Parthenon by a tramp for pennies. Dire straits indeed.

[LongQ]

Andy Zarse said:

LongQ said:

Presumably these are not the New Measurement Criteria that are to include an 'estimate' of the "black economies" to arrive at a GDP figure?

Yes I believe they are. Even adding in coke and hookers gives a negative result. I'm assuming nobody in Athens can now even afford to get noshed off behind the Parthenon by a tramp for pennies. Dire straits indeed.

Oh dear, THAT bad, eh?

Actually it must be much worse than that since the inclusion of the unmeasurable black economy must surely offer the best possible fudge factor anyone could ever wish for. To fail with a negative message with such a trick in your tool bag must be very depressing.

Edited by LongQ on Saturday 11th October 11:10

[wc98]

LongQ said:

Oh dear, THAT bad, eh?

Actually it must be much worse than that since the inclusion of the unmeasurable black economy must surely offer the best possible fudge factor anyone could ever wish for. To fail with a negative message with such a trick in your tool bag must be very depressing.

Edited by LongQ on Saturday 11th October 11:10

the similarities between economists and climatologists are really quite profound.