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On November 19 2010 09:21 Romantic wrote:Show nested quote +On November 19 2010 08:58 Cpt.beefy wrote:On November 19 2010 07:49 iPlaY.NettleS wrote:
So the bailout will help Ireland for a few months then they will need another bailout.
Same story with Greece whos budget deficit is still increasing.
This bailout stuff is all bollocks , the Euro experiment has failed , countries need to go back to their own currencies and be able to fix their own interest rates or let their own currency devalue in the open market. It has nothing to do with the euro, it just bad decisions in times of amazing growth (invest? nope! greed? plz!!), and part by the financial crash cased by Stockbrokers the world over. Its the FECKing Banks there to blame and the ignorannnnt fuckers who make the money, in short not me or you. edit: the pints all tasted bitter..... Well, the Euro is too strong and it has been for quite a long time.
Think another part of the problem is that individual contries cant adjust thier currency to fit thier own needs. Not sure exactly what changes each country can make when it comes to interest and bank rates and currency values. But read something on how one reason for Swedens relatively good position during and after the financial crise has been so good is that we can adjust our currency to fit exactly our needs, while countries like Greece has no choice but to stick to Euro and be dependant on how it stands, when it stands way way to high for thier needs due to the strenght of Euro as a whole (mostly due to Germany?).
Anyone with more expertise in the matter are welcome to correct me, just what i read in the newspaper 
And yeah Germany cant be thrilled... Wonder if they will stick to the Union or try to GTFO of there, cant see it doing them any good.
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Looks like you guys might have to leave the Euro
http://krugman.blogs.nytimes.com/2010/11/18/this-is-the-way-the-euro-ends/
There's no point in stronger economies like Germany leaving the Union at this point, it's much more of a problem for countries with debt problems like Greece and Ireland. Normally countries can use inflation to pay off part of their debt, but since they can't do that as long as they're on the Euro, they might be forced to default.
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Please Europe, take control!!!!
We're not capable of running aon rud!
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On November 19 2010 08:58 Cpt.beefy wrote:Show nested quote +On November 19 2010 07:49 iPlaY.NettleS wrote:
So the bailout will help Ireland for a few months then they will need another bailout.
Same story with Greece whos budget deficit is still increasing.
This bailout stuff is all bollocks , the Euro experiment has failed , countries need to go back to their own currencies and be able to fix their own interest rates or let their own currency devalue in the open market. It has nothing to do with the euro, it just bad decisions in times of amazing growth (invest? nope! greed? plz!!), and part by the financial crash cased by Stockbrokers the world over. Its the FECKing Banks there to blame and the ignorannnnt fuckers who make the money, in short not me or you. edit: the pints all tasted bitter.....
I agree with Nettles with the less developed countries needing their own currency so as to cause devaluation and hopefully more exporting.
@ Cpt.beefy: To say that the financial crash was in part caused by Stockbrokers the world over is something I haven't heard yet. Thanks for the laugh. Brokers are simply the medium many investors go through to invest. It's like blaming a door for allowing people into a room.
Also, the blame goes both ways. Banks issued loans they knew were almost certain to fail and people irresponsibly took the loans. The only reason banks made to loans was largely due to securitization where the mortage loan is bundled with similar risk loans and traded on wall street. Coincidentally, when you and I invested our money the general asset allocation rule was geared for a heavy position in mortgage securities. Banks would never issue so many sub-prime and ARM loans if they knew they couldn't get rid of them. This is why so many banks failed...when the market turned for the worse they were faced with numerous toxic loans on they're balance sheets.
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I forgot to mention, Germany isn't all that opposed to the bailout as you guys are making it out to be.
One of the proposed terms of the bailout is that Ireland raise their corporate tax rate.
Ireland corp. tax rate: 15%
German corp. tax rate: 35%
U.S. corp tax rate: 45%
(roughly)
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stockerbrokers are the people who control the market with there actions. (rates go up and down due too them.
They have the overall picture of there respective assets/clients.
You can't say that they had no part in the financial crash because they make all the deals. sell when things don't look good/there are rumors of business lossing money. Buy if theres a profit too be made.
I don't know alot about corporate tax thingy. But im glad you had a laugh from my stupid words.
Either way ireland as a financial landscape is fucked. I've avoided the news since it was released its too depressing to contemplate. So i don't.
I don't want too argue about the details. The reality is as it is.
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Yeah, I agree Ireland is in a crisis. I'm not arguing or even attempting to but the financial markets are often misunderstood.
For instance when you say stockbrokers control the markets, it simply just isn't true. Rates do not go up and down due to them. When you say rates I'm assuming you mean the LIBOR-rate and the United States Federal rate. These rates are controlled by the countries own monetary systems as a means to combat inflation or depression/recessions. Sadly enough, the details are what matter here.
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On November 19 2010 04:12 NukeTheBunnys wrote:Show nested quote +On November 19 2010 04:02 Slayer91 wrote:On November 19 2010 04:00 Ingenol wrote:
Sounds quite similar to what has happened in the United States and indeed all over the globe: governments subsidize banks to allow/encourage them to make financially unsound loans to people that likely cannot repay them. Here it was under the guise of "every American should be able to own a home."
Governments cannot truly create jobs, they cannot truly create wealth, yet they consistently act as if they can do both. Faulty notions of the purpose of government will sink this world, potentially in our lifetime. Yeah but you guys have real politicians we have alcoholics and cancer patients. Honestly, I think I would prefer the alcoholics and cancer patients. Our "real politicians" have been sucking pretty god damn hard for the past 10 years. I miss Clinton...
Nobody has made the joke ? :
"Yeah at least Clinton was the one being sucked."
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All this recent economy going to shit stuff makes me wonder if communism is where its at because it seems like China is the only one steadily progressing through the last 50 years or whatever.
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Except China's economy hasn't been communist for years.
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On November 23 2010 19:29 CharlieMurphy wrote:
All this recent economy going to shit stuff makes me wonder if communism is where its at because it seems like China is the only one steadily progressing through the last 50 years or whatever.
progressing through what?
longer working hours? increasing pollution?
Communism doesn't work , neither does capitalism as it eventually undermines itself as has been happening in the west for over 30 years.
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EPT
