Finally a truthful speaker in the European parliament - Ferrari Life
 
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post #1 of 20 Old 06-13-2012, 06:35 AM Thread Starter
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Finally a truthful speaker in the European parliament

It may not yet be as bad as Mr. Farage suggests but I tend to believe his words since a long time more than those of Mr. Barroso. Anyway this clip is not F-subject but interesting anyway. Have fun.

http://www.zerohedge.com/news/farage-euro-titanic-has-now-hit-iceberg
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post #2 of 20 Old 06-13-2012, 11:00 AM
 
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Originally Posted by 212Export View Post
It may not yet be as bad as Mr. Farage suggests but I tend to believe his words since a long time more than those of Mr. Barroso. Anyway this clip is not F-subject but interesting anyway. Have fun.

http://www.zerohedge.com/news/farage-euro-titanic-has-now-hit-iceberg
Three may currently not be enough lifeboats as he says, but if only the Germans were to change their policy, the ECB could print as many lifeboats as needed
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post #3 of 20 Old 06-13-2012, 11:23 AM
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The ability to devalue or revalue one's currency is one of the most important items in a treasury system's bag of tricks. Without that ability, all you can do is play with interest rates on national bonds. So now you have a failing or flagging economy, your national borrowing interest rates are high to make up for the risk, and you are trying to pay off your mountain of debt with usurious interest rates.

The only thing making the US national debt affordable is the extremely low cost of borrowing with interest rates hovering around 1%. Throw in a little inflation that causes interest rates to rise, and the cost of servicing the national debt goes through the roof. That is where a third of the EU economies are now, and it can be a death spiral. Spain's banks had the same problems as US banks, initiated by the crash in the residential real estate market. $100 or so B will likely not fix the problem.

Great time to buy a house on the Costa del Sol, like a lot of Brits have been doing in the past. I am sure many of them are underwater on those properties now.

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post #4 of 20 Old 06-13-2012, 11:31 AM
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So this whole thing has been described as "train wreck in slow motion". The question is, where is this all going ?

w/ smiles
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post #5 of 20 Old 06-13-2012, 12:38 PM
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This mess has a long way to go before it is even near the turn around point.
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post #6 of 20 Old 06-13-2012, 12:50 PM
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This mess has a long way to go before it is even near the turn around point.
Too true, it's not even bouncing along the bottom yet.
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post #7 of 20 Old 06-13-2012, 01:18 PM Thread Starter
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The ability to devalue or revalue one's currency is one of the most important items in a treasury system's bag of tricks. Without that ability, all you can do is play with interest rates on national bonds. So now you have a failing or flagging economy, your national borrowing interest rates are high to make up for the risk, and you are trying to pay off your mountain of debt with usurious interest rates.

The only thing making the US national debt affordable is the extremely low cost of borrowing with interest rates hovering around 1%. Throw in a little inflation that causes interest rates to rise, and the cost of servicing the national debt goes through the roof. That is where a third of the EU economies are now, and it can be a death spiral. Spain's banks had the same problems as US banks, initiated by the crash in the redidential real estate market. $100 or so B will likely not fix the problem.

Great time to buy a house on the Costa del Sol, like a lot of Brits have been doing in the past. I am sure many of them are underwater on those properties now.
Many Britts are below water in spain AND in the UK as they used their UK house as collateral to buy overpriced spain property.
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post #8 of 20 Old 06-13-2012, 05:23 PM
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not finally. farage has been giving those types of speeches for years. look him up on youtube. Sad part? nobody will listen to him. He is the ron paul of the uk. I could give you hundreds of links of politicians standing in their respective legislatures predicting everything that has happened and everything that will happen. just like this speech, it will all be poo-pooed. He is a nut! he can't win! heard that one before? most of the people on this board will watch this video and others like it and vote in the exact same people from the exact same parties. off to the polls to elect the same old gang! onward and downward!



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post #9 of 20 Old 06-13-2012, 05:24 PM
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by the way, this should be moved to the politics forum before someone gets their panties in a twist.



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post #10 of 20 Old 06-13-2012, 05:25 PM
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what turnaround point?

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This mess has a long way to go before it is even near the turn around point.


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post #11 of 20 Old 06-13-2012, 07:29 PM
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one large bank


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So this whole thing has been described as "train wreck in slow motion". The question is, where is this all going ?

w/ smiles
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post #12 of 20 Old 06-13-2012, 07:32 PM
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and what does devaluing your money do? inflation. death spiral you say? get ready.

nevermind, i was told it can't happen in the US.


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Originally Posted by tazandjan View Post
The ability to devalue or revalue one's currency is one of the most important items in a treasury system's bag of tricks. Without that ability, all you can do is play with interest rates on national bonds. So now you have a failing or flagging economy, your national borrowing interest rates are high to make up for the risk, and you are trying to pay off your mountain of debt with usurious interest rates.

The only thing making the US national debt affordable is the extremely low cost of borrowing with interest rates hovering around 1%. Throw in a little inflation that causes interest rates to rise, and the cost of servicing the national debt goes through the roof. That is where a third of the EU economies are now, and it can be a death spiral. Spain's banks had the same problems as US banks, initiated by the crash in the residential real estate market. $100 or so B will likely not fix the problem.

Great time to buy a house on the Costa del Sol, like a lot of Brits have been doing in the past. I am sure many of them are underwater on those properties now.


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post #13 of 20 Old 06-13-2012, 07:50 PM
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Ed- Sometimes necessary. Inflation now will really kill us. Service on the debt would be unsupportable. Of course the Fed can always resort to printing more money, but that is defacto devaluing your currency. That is the main reason the euro is not worth 50 cents.

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post #14 of 20 Old 06-13-2012, 08:15 PM Thread Starter
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by the way, this should be moved to the politics forum before someone gets their panties in a twist.
Ed, I have no problem to put that to the political part of the threads. Did not wanted to go political and yes, I have already seen many speeches from Farage. However, this time I just thought his mentioning of the interest rate payment difference in case of the Italians to Spain is a interesting part to know/realize for anybody...
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post #15 of 20 Old 06-14-2012, 05:11 AM
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it's all a scam. read the book "confessions of an economic hit man" for the step by step.



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post #16 of 20 Old 06-14-2012, 06:51 AM
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212- I do not think this subject is very political, either. Left and right have both been guilty. You are correct, though, borrowing money at 7% and lending it at 3% is a guaranteed downer. Something normally only done for relatives after much begging from your wife.

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post #17 of 20 Old 06-14-2012, 07:52 AM Thread Starter
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212- I do not think this subject is very political, either. Left and right have both been guilty. You are correct, though, borrowing money at 7% and lending it at 3% is a guaranteed downer. Something normally only done for relatives after much begging from your wife.
Haha thats a good one...!
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post #18 of 20 Old 06-14-2012, 08:43 AM
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212- I do not think this subject is very political, either. Left and right have both been guilty. You are correct, though, borrowing money at 7% and lending it at 3% is a guaranteed downer. Something normally only done for relatives after much begging from your wife.

At least we learned our lessons [yes plural]. Never again. Sad the govt allows band-aids to kick the can.

Sorry to say it but the only solution is less spending bit more belt tightening, with exception to REAL industry where it produces employment and potential down the road sustained income through a healthy society. So called job makers have no desire to enter because the easy money is gone. Hay days or over for at least another decade....doesn't matter who takes the reins.

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post #19 of 20 Old 06-14-2012, 08:54 AM Thread Starter
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At least we learned our lessons [yes plural]. Never again. Sad the govt allows band-aids to kick the can.

Sorry to say it but the only solution is less spending bit more belt tightening, with exception to REAL industry where it produces employment and potential down the road sustained income through a healthy society. So called job makers have no desire to enter because the easy money is gone. Hay days or over for at least another decade....doesn't matter who takes the reins.
+1 You said it all, really nothing to add.
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post #20 of 20 Old 06-14-2012, 09:51 AM
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what lessons have we learned? what is never again? I don't understand.


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At least we learned our lessons [yes plural]. Never again. Sad the govt allows band-aids to kick the can.

Sorry to say it but the only solution is less spending bit more belt tightening, with exception to REAL industry where it produces employment and potential down the road sustained income through a healthy society. So called job makers have no desire to enter because the easy money is gone. Hay days or over for at least another decade....doesn't matter who takes the reins.


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