Author: Labradorite

Greece’s Extreme Right Strengthens as Economy Sinks   [Copy link] 中文

Rank: 8Rank: 8

Post time 2012-10-31 05:57:08 |Display all floors
TheHermit Post time: 2012-10-31 04:06
There is no need for inside knowledge....we are witnessing two similar sets of circumstances in th ...

The treatment of other bankrupt countries up to now was a disgrace but especially so in the these 3 scenarios.  Argentina, Asian crisis and Zimbabwe.

Zimbabwe employed QE and they went to the wall economically. As you rightly suggested, double standards when it comes to QE do as I say not as I do but of course the world is watching....and the markets. A Japanese banker was talking about how it is now Japan's turn to profit by buying up these Euro debts at rock bottom prices, role reversal as Japan was hoovered up when they hat their troubles in the 90s. Either way, I am sure they are clever enough to hedge it and not just buy toxic junk.

Argentina defaulted as economy fell of cliff. IMF as its wont forced SAP (what is with IMF and SAP) on the poor folks of Argentina. There was no bottomless money pit for the poor Argentines....so why Greece? a ha, we know why. All the Greedy Euro banks will lose massively.

Asian crisis caused by no less that Geithner and IMF so I won't rush to call Americans economic genuises. Geithner is still in Office isn't he?

Yes the money changers had a bounty day....and no, I hated Euros instantly as I did not feel rich loaded with pesetas or Lira. I was in Italy when Euros statrted and I heard grumblings as inflation kicked in, same in Spain and am sure across Eurosland.. but the EU was busily subsidising left right and centre and handing developmental aid to all and sundry. The Greeks were cooking books, Italy was building roads to nowhere via the Mafia and on it goes.....

My view is simple, those at the top stopped giving a toss a long tine ago and were only interested in embedding their names in history books...they achieved that alright. The whole EU thing is overloaded with vested interests. Do you think Barosso wants to see Portugal sink into nothing? On it goes.....and the obscene wages paid to those European Union bureacrats and administrative staff? You can see them having a fine time of it outside the Parliament in Brussels every Friday.

Not only voted corrupt politicians......as my then Greek girlfriend said to me when I queried her about how all her ordinary looking mates were able to deck themselves head to toe in Prada and were gadding about in London despite the fact they were students.....''we are rich in Greece''. She is long gone but that words came to my mind when the music stopped and reality dawned. Scales were also shed from my eyes.of course they were rich as everybody was busily chiseling
No, I live above Sunset Plaza, it's a little house I rent and it's a little rundown but has a beautiful view, what about you?

Use magic tools Report

Rank: 8Rank: 8

Post time 2012-10-31 06:01:56 |Display all floors
This post was edited by Bandito at 2012-10-31 06:12
TheHermit Post time: 2012-10-31 04:13
Germany, France, Spain, and Italy still have an industrial base with an expert workforce and know- ...

Indeed but aside from Germany and her Unions (plus the fact that Germany has money) the others will have to slash wages in order to repatriate certain jobs and that will be the reality. Will this happen?

Cyprus can just let Turkey take over I suppose! To avenge the way Athens  frittered away their money, extreme yes or perhaps hock the country to the Gulf States. I have no dog in it either way
No, I live above Sunset Plaza, it's a little house I rent and it's a little rundown but has a beautiful view, what about you?

Use magic tools Report

Rank: 8Rank: 8

Post time 2012-10-31 06:41:46 |Display all floors
Bandito Post time: 2012-10-31 06:01
Indeed but aside from Germany and her Unions (plus the fact that Germany has money) the others will ...

Bit by bit the debt is written off.....no one in his right mind ever believed that these countries will one day be able to pay all that money. They try to keep up appearances as admission of the truth will cause the total collapse of capitalism.

Indeed but aside from Germany and her Unions (plus the fact that Germany has money) the others will have to slash wages in order to repatriate certain jobs and that will be the reality. Will this happen?


These countries pay some of the lowest wages in Europe. Furthermore what has changed in 2008 that set the world in turmoil?
Has the demand for goods disappeared?
Have the factories lost the capacity to produce?
Has the weather killed the crops?

No all that happened in 2008 is that some banksters said hey there are a couple of dozen zeroes missing from the figure at the bottom line.....Who the fock cares...if they kept it quiet like they did before 2008 would anybody have noticed?

So you see this is only a perceived crisis.... in the real world the crops are still gathered, the cows are milked, and the bakeries still bake.

The world needs more idiots like me, all the others think they are clever.

Use magic tools Report

Rank: 8Rank: 8

Post time 2012-10-31 08:05:22 |Display all floors
TheHermit Post time: 2012-10-31 06:41
Bit by bit the debt is written off.....no one in his right mind ever believed that these countries ...



Wages are low but not as much as China...The game is up and all the delay is pushing back reckoning. Brazil's Finance Minister said it best. It will take a long time however for the dust to settle.

Look what Greece became in less than 6 years? Imagine another 5 years of more of the same?
No, I live above Sunset Plaza, it's a little house I rent and it's a little rundown but has a beautiful view, what about you?

Use magic tools Report

Rank: 8Rank: 8

Post time 2012-10-31 08:45:08 |Display all floors
Bandito Post time: 2012-10-31 05:57
The treatment of other bankrupt countries up to now was a disgrace but especially so in the these  ...

Argentina was a very interesting case because there it was, a country capable of feeding both North and South America on its own, with a population going hungry.

Capitalism will let the crops rot in the fields while the people starve.....why? Because the banks are closed and people cannot access their money to buy the goods. If this is not lunacy then I do not know what is?

When the West suddenly realised that it was losing control of the tiger economies of the East, the IMF imposed such conditions on them that millions died. The head of the IMF later caled it a mistake and things could have been dealt with differently. That must have been a great consolation to those who lost loved ones.

Greenspan once said that he was right 70% of the time, and somebody remarked that the captain of the Titanic was right 99% of the time......

So you would agree that the money-changers would like a return to the original currencies and will do their utmost to achieve this?

Young ladies are the same everywhere.....you let them have a credit card and they will spend to the limit. There are so many things they just cannot do without...... They go to the shops to see if there is anything they...... need to buy.

The banks knew that but they still kept lending them the money at extortionate rates of interest.
The world needs more idiots like me, all the others think they are clever.

Use magic tools Report

Rank: 8Rank: 8

Post time 2012-10-31 09:07:14 |Display all floors
Bandito Post time: 2012-10-31 08:05
Wages are low but not as much as China...The game is up and all the delay is pushing b ...

True European wages cannot compete with Chinese wages but there are other factors at play besides wages.

I thought we were discussing the rise of the the extreme right wing, which has reared its head in most European countries and not just in Greece.

If the Wiemar Republic is anything to go by then we may not have five years left. Solutions must be found or we all pay the consequences.
The world needs more idiots like me, all the others think they are clever.

Use magic tools Report

Rank: 8Rank: 8

Post time 2012-10-31 17:49:31 |Display all floors
This post was edited by Bandito at 2012-10-31 17:55
TheHermit Post time: 2012-10-31 09:07
True European wages cannot compete with Chinese wages but there are other factors at play besides  ...


there are always going to be Rightwingers...EDL in UK are always looking to spark things off but a lot of people might object to their antics however the government need to ensure the jihadists stop the endless provocation.

Austria is locked in a sort of timewarp. I am sure most folks are sensible and are not enamoured of Rightwingers that are most often thugs......just look at Golden Dawn. I heard they are now beating gays, folks not Greek enough even though they are GREEKS, not man enough and of course not forgetting their MP that slapped 2 women on TV! Nutters

My diatribes aside, I'm a humanist
No, I live above Sunset Plaza, it's a little house I rent and it's a little rundown but has a beautiful view, what about you?

Use magic tools Report

You can't reply post until you log in Log in | register

BACK TO THE TOP
Contact us:Tel: (86)010-84883548, Email: blog@chinadaily.com.cn
Blog announcement:| We reserve the right, and you authorize us, to use content, including words, photos and videos, which you provide to our blog
platform, for non-profit purposes on China Daily media, comprising newspaper, website, iPad and other social media accounts.