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This thread took an ugly turn for the worst.
Eurozone Financial Crisis Vol. Knowledge Is Power
- Thread in 'General' Thread starter Started by scott frost,
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Comments like this pique my interest as well as require a certain bit of detail.
Obviously living in a global economic time, I can understand the rudimentary implications of Greece failing and opting out of the Eurozone but "screwed", an economic term I presume, is rather extreme.
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A few (free) sources off the top of my head:
The latter two are essentially link aggregators.
The latter two are essentially link aggregators.
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The goal seems to be bigger. Power. Control. Corruption. I'll leave my thoughts later.
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thanks for the link. nice little cliffs on the situation.
Questions for those one world/currency/economy conspiracy theorists who arent just parrot-repeating BS without having done any actual reading into it.
What will this one currency be based off of? Who will effectively run point for this one world economy? Will it be the West? If so, why do you believe that they have the power to do this? Do you think that this nWo faces a real challenge from the BRICS? As a citizen of the US who lives here and holds all his assets in US currency and/or US currency backed assets, should I be concerned?
TYE_The Time Traveler
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But it seems as if its already been accomplished. The elite already call the shots, so the power and control is already there, and corruption well we already about that. What i dont understand what is the point of having all these "events" and political arguments and all this drama if all of those in power have already established a goal which they know is going to happen regardless. Unless its all some sick joke to get people to believe and have a glimmer of false hope. I just ask what was and is the point of giving the normal people everything we've been given through the course of our lives. College education albiet at a crazy cost in some cases, the internet, government programs, food, the ability to expand and educate ourselves and build wealth, kanye west, the iphone and facebook, choice of religions, different languages. And then stage all these events through in history, the world wars, economic collapses, declaration of independence, drug wars, the list goes on. What is the point of all of this if the goal was to enslave the human race and make us mindless zombies and only have one currency. What is the point of one currency if were all going to be mindless slaves. Have a police state and have no freedom, i mean if theres always been a plan then essentially people were never free. I just dont get it.
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I disagree, respectfully of course. The Euro manage to prove that looking at it regarding economics, it's not manageable, without political unity. Unless that happens I don't see how economies performing so differently have a chance to be handled as one in many senses.
Although I do think the dollar is and will remain to be "the global currency".
And it would be naive to not think there are many well connected people making boatloads of money....
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Umm...one of the reasons why there is a crisis to begin with stems from the fact that the Eurozone IS a one currency complex.
...
runningfishy
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It's absurd to believe in conspiracy theories such as the one suggested here.
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So is the United States. The Euro is very similar to the U.S. model that was implemented after the Civil War. It was a bunch of states each with their own currency and cultures. In order to streamline commerce, the congress mandated a united currency among the states.
If you look at the parallels, California is very much like the Greece of the U.S. if you compare their debt levels. The only difference is that our currency is the world standard and we have the power to print currency for whatever deficits we run in the U.S. Europe can do the same, except their are not as powerful and investors would go to alternative currencies, thus deflating its value and further hurt its international trade.
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http://niketalk.com/topic/297344/It-s-official-Germans-buy-NYSE-in-10B-deal?page=1#.T76QNNVYvE0
By the time we start discussing this stuff we're already years too late.
Europe doesn't have a Fed Bank like the US. Hence the ability to create liquidity at will. All of the markets are interconnected/ interdependent though. Our Fed Bank is essentially the worlds bank via different arms and organizations.
Only thing that'll pull the global economy out of the gutter is if we wage a world war against a new enemy. People forget that our whole idea of a middle class stemmed from the WWII economy.
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Next global enemy has to be aliens or some threat larger than this world in order for this to keep on going...
By the time we start discussing this stuff we're already years too late.
Europe doesn't have a Fed Bank like the US. Hence the ability to create liquidity at will. All of the markets are interconnected/ interdependent though. Our Fed Bank is essentially the worlds bank via different arms and organizations.
Only thing that'll pull the global economy out of the gutter is if we wage a world war against a new enemy. People forget that our whole idea of a middle class stemmed from the WWII economy.
Next global enemy has to be aliens or some threat larger than this world in order for this to keep on going...
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Apperently, u.s currency spewed a uncontrollable debt which is non-bartering. Not even china can bail our leading stature for our dollar out.
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I too have been trying to keep up with this--- but I'm interested in the "why" part like everyone else.
Frist Greece, now Spain... I even read an article the Germany didn't reach the same economic growth as it has in the past. Although I am curious as to why Germany is doing it "right" but it seems everyone around them is sinking. What has Germany been up to??
Frist Greece, now Spain... I even read an article the Germany didn't reach the same economic growth as it has in the past. Although I am curious as to why Germany is doing it "right" but it seems everyone around them is sinking. What has Germany been up to??
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It was actually Ireland first. But since 2008 it has been the PIIGS (Portugal, Ireland, Italy, Greece, Spain) that have all been in trouble due to overspending. All have been the result of different reasons though. Greece & Italy have been overspending their revenues for years but Italy has a culture of tax evasion. Spain has always had a double digit unemployment rate that has prevented it from being an economic power in Europe. Ireland has had nonexistent corporate taxes since the 90's in order to attract companies and lower unemployment.Originally Posted by GatorBeltsNPattieMelts
I too have been trying to keep up with this--- but I'm interested in the "why" part like everyone else.
Frist Greece, now Spain... I even read an article the Germany didn't reach the same economic growth as it has in the past. Although I am curious as to why Germany is doing it "right" but it seems everyone around them is sinking. What has Germany been up to??
With Germany, they have been a fairly responsible country since the Euro started and have been calling for Austerity/ Fiscal responsibility from the other nations so they won't have to bail them out in the future. As a result, however, their economy has started to flatten out since January. But if you're going to stop pumping money into the economy there will be some temporary pain felt. With the U.S. though, we have continued running the printing press at full speed and have kept increasing our GDP. However, IMO it's not worth the $1.5T deficits we have been running since we're essentially adding $5K/yr. for each person in the U.S. without an end in sight.
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One of the problems is that you have these incompetent nincompoops for politicians who have little to no understanding of economics and finance. Most senators and congressman in the US were history, poli sci, and basket weaving majors and would probably fail Are You Smarter Than a Fifth Grader in said subjects.
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Unlike the only countries in the Eurozone The Germans produces products and services the world wants. That has been the saving grace for Germany.
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im pretty sure the other countries also produce products that the world wants. just because this is NT doesnt mean that BMW is the end all be all.
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Yep..compound that with their refusal to use their own natural resourcesAnd u got a wild economic zoo.
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This guy knows what he's talkin bout.
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Yes "crcballer55", but again I think it must be emphasized that the politics in the US aren't good, however they are relatively coherent compared to Europe. It's simply a battle similar to that of Sysyphus's to have and expect the same standards from countries, with such different capabilities.
i.e. I live in Hungary and we ain't doing good, actually economy is horrible and I think we are pretty close the status of the PIIGS, only luck is we don't have the euro. But politicians, try to sell the statements here to people, who unfortunately believe them, that truth be told our GDP equivalent deficit is around 81 percent same as Germany's, but how can one compare the two?! Similar case in the Czech republic who have been hit with recession hard. Imagine these countries having to meet requirements of the euro. It's very difficult to expect such countries to even with relatively good economies perform like Germany who controls a huge chunk of the automotive, shipping, mining industries. And it mustn't be forgotten that leadership and corruption in Northern and western european countries isn't even comparable to whats going on in the southern and eastern states....
Greece even without debt payments due only to the euro would have about -1percent deficit, in addition comes the excess 5-6-7 percent, because euro related debts. In addition the overall debt of 140percent is insane when they have a pretty impotent economy. Their main income is tourism, but to be honest not enough is done to increase business, no stimulus is provided at all by the government.
Another big problem, which I haven't heard to be mention is the clash of two totally different approaches represented by Germany and France. The first is on the side of fiscal restrictions and reducing spending, because they have witnessed a good deal of hyperinflation back in the day. France however would like to use methods similar to the one in the US and would risk potentially rising inflation rates, which are already rising under current circumstances, proving that the strength of the Euro isn't even close to the USD's.
i.e. I live in Hungary and we ain't doing good, actually economy is horrible and I think we are pretty close the status of the PIIGS, only luck is we don't have the euro. But politicians, try to sell the statements here to people, who unfortunately believe them, that truth be told our GDP equivalent deficit is around 81 percent same as Germany's, but how can one compare the two?! Similar case in the Czech republic who have been hit with recession hard. Imagine these countries having to meet requirements of the euro. It's very difficult to expect such countries to even with relatively good economies perform like Germany who controls a huge chunk of the automotive, shipping, mining industries. And it mustn't be forgotten that leadership and corruption in Northern and western european countries isn't even comparable to whats going on in the southern and eastern states....
Greece even without debt payments due only to the euro would have about -1percent deficit, in addition comes the excess 5-6-7 percent, because euro related debts. In addition the overall debt of 140percent is insane when they have a pretty impotent economy. Their main income is tourism, but to be honest not enough is done to increase business, no stimulus is provided at all by the government.
Another big problem, which I haven't heard to be mention is the clash of two totally different approaches represented by Germany and France. The first is on the side of fiscal restrictions and reducing spending, because they have witnessed a good deal of hyperinflation back in the day. France however would like to use methods similar to the one in the US and would risk potentially rising inflation rates, which are already rising under current circumstances, proving that the strength of the Euro isn't even close to the USD's.
pig love
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Originally Posted by bruce negro
Right, because Infowars is definitely the most reputable site around
Dude, you live in Flint. You NEED infowars in your life.
runningfishy
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The whole currency/money thing is quite a mystery at times. Sometimes it's pretty confusing.
Still, what would happen in the event that Greece exits the eurozone? How would they re-establish THEIR OWN CURRENCY, and what would happen to EXISTING DEBT?
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im pretty sure the other countries also produce products that the world wants. just because this is NT doesnt mean that BMW is the end all be all.
When I made the post I had the WV group in mind, it's one of the biggest car manufactures in the world.
Do your research on Germany it's a powerhouse when it comes to GDP.
runningfishy
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When I made the post I had the WV group in mind, it's one of the biggest car manufactures in the world.
Do your research on Germany it's a powerhouse when it comes to GDP.
Both of you folks are correct. The automotive industry is still alive. I'm pretty sure, they produce a lot more than just that. They manufacture A LOT OF GOODS you folks have not even seen in the US! They have their own respectable technologies in many ways.
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QFT
Europe was never really big on natural resources. Hence the colonial systems that emerged and shaped the economic climate into what it is today.