If anybody wants to know what the hell is happening in the EU, read this.

Aoxomoxoa said:
I am not accused very often of understatement but I fear that you are right. I saw Geithner on the news earlier and we all feel safer for his presence amongst us.
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YOu do? You can, if you're a banker. Otherwise you are going to be shit out of luck. He's a bankster's boy. The, actually.
 
Aoxomoxoa said:
I am not accused very often of understatement but I fear that you are right. I saw Geithner on the news earlier and we all feel safer for his presence amongst us.
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You are going to see every shenanigan thrown at the system in the next 12 months. The US will interfere as much as possible to prop up the system. Because NO incumbent wants Europe blowing up in an election year... especially a Presidential election year. The Krugmans of the world will continue shouting spend spend spend spend until they are blue in the face.

Greece will likely be dropped from the Euro. Unfortunately that should have happened two years ago. But instead they pushed the problem into the future with one bailout after another until the confidence in other Euro nations began to fail. If Spain or Italy drop... not even Germany can save Europe (and subsequently the rest of the world) from feeling the pain that is coming. 2013 is not going to be fun. Lucky for us the world ends Dec. 21, 2012.
 
Superfreak said:
You are going to see every shenanigan thrown at the system in the next 12 months. The US will interfere as much as possible to prop up the system. Because NO incumbent wants Europe blowing up in an election year... especially a Presidential election year. The Krugmans of the world will continue shouting spend spend spend spend until they are blue in the face.

Greece will likely be dropped from the Euro. Unfortunately that should have happened two years ago. But instead they pushed the problem into the future with one bailout after another until the confidence in other Euro nations began to fail. If Spain or Italy drop... not even Germany can save Europe (and subsequently the rest of the world) from feeling the pain that is coming. 2013 is not going to be fun. Lucky for us the world ends Dec. 21, 2012.
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First of all, I think that Krugman is right, and he does not say anything quite so simplistic. You should read his blog every day, it will be good for you.

Secondly, you are being very depressing. I am really hoping the economy keeps picking up, it did this year from last year, in my business at least. And I really want to take 2013 to do a lot of traveling, so it won't work out for me if 2012 finishes up as bad as you are predicting.
 
Darla said:
First of all, I think that Krugman is right, and he does not say anything quite so simplistic. You should read his blog every day, it will be good for you.
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While I can't say I catch his writings every day, I do read him multiple times each week. Krugman has a great economist in there somewhere, unfortunately for us he buried the economist and replaced him with a partisan hack.

Secondly, you are being very depressing. I am really hoping the economy keeps picking up, it did this year from last year, in my business at least. And I really want to take 2013 to do a lot of traveling, so it won't work out for me if 2012 finishes up as bad as you are predicting.
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Not trying to be depressing, but the problems you are hearing about on the news are just what they think the public can handle. There is still a chance they can fix this without a massive implosion. But they (and we) must be willing to take some pain. If we don't, we will regret it. Unfortunately here, as in Europe, we have a bunch of spineless twits running the country. They will not likely make the hard choice as it will likely cost them politically. They will instead most likely keep trying to stick band-aids on the hole in the dike.
 
Superfreak said:
You are going to see every shenanigan thrown at the system in the next 12 months. The US will interfere as much as possible to prop up the system. Because NO incumbent wants Europe blowing up in an election year... especially a Presidential election year. The Krugmans of the world will continue shouting spend spend spend spend until they are blue in the face.

Greece will likely be dropped from the Euro. Unfortunately that should have happened two years ago. But instead they pushed the problem into the future with one bailout after another until the confidence in other Euro nations began to fail. If Spain or Italy drop... not even Germany can save Europe (and subsequently the rest of the world) from feeling the pain that is coming. 2013 is not going to be fun. Lucky for us the world ends Dec. 21, 2012.
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Good Boris Johnson, the Mayor of London said it best.

We are in danger of saving the cancer and not the patient
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Damocles said:
Wow... Right out of Atlas Shrugged.
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My copy of the DVD just came in from Amazon yesterday, so when I got back from the pub where I watched the foozball game, I popped it in and watched it (then I fell asleep early and woke up twenty minutes ago, because I just came off working nights, and my pattern's all screwed up). Nice timing, eh?
 
The economy will pick up steam with a better than expected Xmas and obuma pimping supply side tax cuts which will pass. Market does double digits and Obama beats romney like Ali over foreman. Multiple shots to his dumb head.
 
Aoxomoxoa said:
How do you propose to do that, you're just as fucked as Europe.?
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No, we are not.

1) we are the reserve currency, that has an extremely beneficial bonus for us
2) we are ONE country with ONE currency and ONE completely inept group of politicians... you have 17 countries and 17 groups of completely inept politicians. You lose.
 
The Dude said:
The economy will pick up steam with a better than expected Xmas and obuma pimping supply side tax cuts which will pass. Market does double digits and Obama beats romney like Ali over foreman. Multiple shots to his dumb head.
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They will do anything and everything to prop up the markets during an election year. I think we will likely see a rally through March, a bit of a correction and then another rally into the election. That said, if the markets rise without the unemployment situation improving, it could be Obama vs. a wet napkin and the napkin would win.
 
Superfreak said:
No, we are not.

1) we are the reserve currency, that has an extremely beneficial bonus for us
2) we are ONE country with ONE currency and ONE completely inept group of politicians... you have 17 countries and 17 groups of completely inept politicians. You lose.
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Well, you should pray to whomever is your God as it's the reserve currency status that shields you from reality.
 
Aoxomoxoa said:
Well, you should pray to whomever is your God as it's the reserve currency status that shields you from reality.
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I am well aware of that. Luckily for us, there is not an alternative currency to switch to... and we have the wonderful European nations to thank for that. Thanks for being bigger economic morons than we are!
 
Superfreak said:
I am well aware of that. Luckily for us, there is not an alternative currency to switch to... and we have the wonderful European nations to thank for that. Thanks for being bigger economic morons than we are!
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I am sure that the Swiss would be more than happy to take over as reserve currency, or be part of a bucket with say the Australian and Hong Kong dollar.
 
Aoxomoxoa said:
How do you propose to do that, you're just as fucked as Europe.?
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So, tell me, what exactly will happen if the West fails, because basically, that is what it is looking like to me. Do we have the Asians taking over our assets?

How exactly will this work if we end up in the toilet. Does the World bank step in like they have in other countries. My mortgage banking background, the math was real simple, it didn't get into all these imaginary numbers. Economics confuses me.
 
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