The Genius of Mutual Indebtedness
Discussion
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.
http://www.youtube.com/watch?v=TN_1mF-3JTI
I apologise in advance if it's a repost.
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.http://www.youtube.com/watch?v=TN_1mF-3JTI
I apologise in advance if it's a repost.
If what he says is totally accurate, then the whole thing is even more catastrophic than I thought.
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...
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...
odyssey2200 said:
I like thatGood job its a comedy piece makes the euro economy look like a farce.
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. 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...
http://www.creditwritedowns.com/2012/06/welcome-ba...
Pesty said:
odyssey2200 said:
I like thatGood job its a comedy piece makes the euro economy look like a farce.
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!
http://www.guardian.co.uk/business/2012/jun/15/eur...
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
From the Euro Crisis Monitor site at the University of Osnabruek in Austria -
http://www.iew.uni-osnabrueck.de/en/8959.htm
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