This is a interesting thread please keep up the updates on this stuff.
[quote]orion wrote:
[quote]Gaius Octavius wrote:
You don’t have a problem with retarding everyones living standard or with hidden taxation? Are you like, evil?[/quote]
No, I am like, realistic.
Either tell people that the party is over or inflate away and when in doubt blame evil capitalism.
I wonder what the average politician who wants to be re-elected is going to do.
Na, I really dont.
[/quote]
Yep, and this is why you get into inflation hedges, because they are skyrocketing/going to skyrocket.
Update:
Greece passed a no-confidence vote in its policies. Austerity looks likely to continue, and the second wave of the bailout is due. However, the market feeling is that Greece will default and this is the anticipation of many politicians.
I did some reading up on Greece. This article was a real shocker
EDIT: When I say ‘passed’ I mean ‘survived’. The no-confidence vote was defeated, just to clarify things
As I have said over and over, a deflationary depression will be the eventual outcome.
You cannot push a rope, at least not very far.
[quote]espenl wrote:
I am so happy the norwegian people voted no to EU membership time and time again :)[/quote]
You damn oilbarons 
[quote]Bambi wrote:
Update:
Greece passed a no-confidence vote in its policies. Austerity looks likely to continue, and the second wave of the bailout is due. However, the market feeling is that Greece will default and this is the anticipation of many politicians.
I did some reading up on Greece. This article was a real shocker
http://www.vanityfair.com/business/features/2010/10/greeks-bearing-bonds-201010[/quote]
WOW. I haven’t been that blown away by an article in…ever. A long time at the least. Fantastcially written as well. And fucking scary. I see a lot of dangerous parallels between what Greece is and where we could be headed if people don’t pull their hads out of their own atomicized little insular worlds. Also, a stunningly brutal and frank look at what complete moral bankruptcy is.
Now the Greek politicians have passed the austerity bill! A sell out. This means that all the foreign banks are going to buy all that the State have to offer, Telecoms, harbours, rail etc. I put in a bid for the Parthenon but they turned me down. I am going for what’s left of the “Oracle.”
Greece needs to leave the Euro in my opinion, and begin reviving their economy.
Overall though, it appears the rioting is spreading. Saw this about the UK.
“Greetings from London: A taste of Wisconsin as public unions prepare to strike”
part of the article:
“There?s much tension here as three-quarters of a million public union workers prepare to strike on Thursday. Featured above is one of countless posters littering the streets ? I snapped it near the Earl?s Court tube stop. It?s a taste of Wisconsin across the pond as fiscal conservatives try to rein in bloated pensions and battle the entrenched culture of entitlement of Big Labor. Naturally, the unions have no problem endangering public safety and national security to protect their racket:”
[quote]orion wrote:
[quote]Bonesaw93 wrote:
[quote]John S. wrote:
The EU goes first, then America follows.
As I said when they first bailed out Greece they where just delaying the inevitable. Perhaps they bought 2 years but now the crash will be even worse.[/quote]
Aren’t some of the Euro area populations getting very unhappy with this situation? Do you think it’s likely Greece will be kicked out of the alliance?
[/quote]
That would be so awesome in so many ways.
No civil war, no bloody secession, just a central government that asks some of the member states to get the fuck out.
[/quote]
That WOULD be a sight to see!
Too bad it won’t happen, unless some revolution with balls will make the streets run red with blood.
It’s a tragic feature of a bloated government that it has way too many heads - who’s to blame if a titanic Hydra marches decade-slowly but steadily into debt-hole?
Ah, the times when you could just storm the pleasure palace of decadent spenders with your fellow pitchforks and scythes…
I do believe I said Europe would fall first, won’t be too long now, the bailout this time around will buy them a few months but this collapse is almost ready to get really rolling.
Pick any answer you like:
1)lol
2)no
3)all of the above
Way too early to start saying “I called it” John. Although I hope you’re right because I’d rather us not be the first one to go.
[quote]Aragorn wrote:
Way too early to start saying “I called it” John. Although I hope you’re right because I’d rather us not be the first one to go.[/quote]
Your right it is too early, I should probably stay away from the keyboard when I am drinking.
[quote]John S. wrote:
[quote]Aragorn wrote:
Way too early to start saying “I called it” John. Although I hope you’re right because I’d rather us not be the first one to go.[/quote]
Your right it is too early, I should probably stay away from the keyboard when I am drinking.[/quote]
Lol. Well, much stupider choices have been made by many people when drunk… I’d say cruising the internet is a pretty safe option all things considered heh.
It’s very hard to predict whether Europe or the US will fall first simply because Hyperinflation might strike in the US very quickly. It’s a process that doesn’t take a very long time once it gets going. Barring hyperinflation however, I think Europe will be the first dominoe to go.
[quote]Gaius Octavius wrote:
It’s very hard to predict whether Europe or the US will fall first simply because Hyperinflation might strike in the US very quickly. It’s a process that doesn’t take a very long time once it gets going. Barring hyperinflation however, I think Europe will be the first dominoe to go.[/quote]
Define Europe.
We are not a more or less monolothic block like the US, we actually are what the US were supposed to be, at least regarding ststes rights.
If Greece collapses it does not make a lick of difference to me.
If the the ECB bails the French banks out I might go apeshit though.
[quote]orion wrote:
[quote]Gaius Octavius wrote:
It’s very hard to predict whether Europe or the US will fall first simply because Hyperinflation might strike in the US very quickly. It’s a process that doesn’t take a very long time once it gets going. Barring hyperinflation however, I think Europe will be the first dominoe to go.[/quote]
Define Europe.
We are not a more or less monolothic block like the US, we actually are what the US were supposed to be, at least regarding ststes rights.
If Greece collapses it does not make a lick of difference to me.
If the the ECB bails the French banks out I might go apeshit though.
[/quote]
If they bail out the French banks then I will be able to claim I called it.
If not the tanks then use the banks! All that effort 70 years ago and now everything is up for grabs. Someone suggested Disney buy the Parthenon and turn the Akropolis into a theme park. Mickey Mouse as Aristotle.
Rumours are now that Italy and Spain will need a bailout. Euro is at a 4 month low. Italian stock market is down 3% both of the last two days and has to make £48bn budget cuts. Biggest too banks have lost 5 and 7% respectively.
Italy and Spain are not Greece, which only makes up 2% of the EU economy and is a vestigial part of the EU. These are the powerhouses (at least North Italy… south Italy is another tale). If these two go, then life just got a whole lot more interesting.
[quote]Bambi wrote:
Rumours are now that Italy and Spain will need a bailout. Euro is at a 4 month low. Italian stock market is down 3% both of the last two days and has to make £48bn budget cuts. Biggest too banks have lost 5 and 7% respectively.
Italy and Spain are not Greece, which only makes up 2% of the EU economy and is a vestigial part of the EU. These are the powerhouses (at least North Italy… south Italy is another tale). If these two go, then life just got a whole lot more interesting.[/quote]
It’s the goddamn S&P and associated retards that are doing this.
Italy’s debt is kept inhouse for the most part - there’s nothing wrong with Italy.
If it comes to it, all the ECB does is start the printing presses.
How long have the US been doing it now ?
Unlike the US - ECB have never done it so they have the leeway to do it.
Anyone who thinks Euro will fail before the Dollar needs their head examined.