Jump to content
Manx Forums, Live Chat, Blogs & Classifieds for the Isle of Man
Giri

The crash is coming.

Recommended Posts

How will it effect the Isle of Man and what to do about it?

 

Share this post


Link to post
Share on other sites

On another thread Giri is outing Soros as a Nazi collabrator and on this one he appears to be believing Soros' latest prediction. Curious.

Share this post


Link to post
Share on other sites

Interesting programme last night (3rd of 4) on the Euro/Greece crisis and the steps that were taken at the time, largely by Sarkozy and Merkel, to save the Euro from markets-induced collapse. The figures were staggering.

Share this post


Link to post
Share on other sites
54 minutes ago, mojomonkey said:

On another thread Giri is outing Soros as a Nazi collabrator and on this one he appears to be believing Soros' latest prediction. Curious.

Soros as a Nazi collaborator is a conspiracy theory that has been doing the rounds for many years. I don't support the man or his methods of manipulation, both financial and political, but the Nazi slur is totally false. He was 15 in 1945. It's baloney.

https://www.snopes.com/fact-check/george-soros-ss-nazi-germany/

  • Thanks 1

Share this post


Link to post
Share on other sites
40 minutes ago, Non-Believer said:

Interesting programme last night (3rd of 4) on the Euro/Greece crisis and the steps that were taken at the time, largely by Sarkozy and Merkel, to save the Euro from markets-induced collapse. The figures were staggering.

The Euro is doomed and it has been from its inception. It is too big and there are too many stresses for it survive. They all think that they can play fast and loose with fiscal rectitude and it doesn't matter because they believe that in the end the ECB, Germany or the IMF will pick up the tab. Up to now they have been right, but that will not last for ever. It will lead to a great deal of strife in the coming years.

When countries each had their own currencies, the buck stopped with themselves. Go bust and it's on you. In the Eurozone this discipline is lacking and that is the fatal flaw.

  • Like 2

Share this post


Link to post
Share on other sites
1 hour ago, woolley said:

The Euro is doomed and it has been from its inception.

Yes, I hear it will fail before 2012 is out!

Share this post


Link to post
Share on other sites
2 minutes ago, Bobbie Bobster said:

Yes, I hear it will fail before 2012 is out!

It would have done well before that but for the enormous political imperative of avoiding it at eye watering cost. It isn't stable as they currently claim.

  • Like 2

Share this post


Link to post
Share on other sites
1 hour ago, P.K. said:

record.jpg

Highly intelligent riposte. You know well that what I say is true. The only hope would be to have a completed fiscal, monetary and political union rather than the half way house that exists at the moment. Anyone for that? It would be fun to watch if nothing else.

Share this post


Link to post
Share on other sites
2 hours ago, woolley said:

The Euro is doomed and it has been from its inception. It is too big and there are too many stresses for it survive. They all think that they can play fast and loose with fiscal rectitude and it doesn't matter because they believe that in the end the ECB, Germany or the IMF will pick up the tab. Up to now they have been right, but that will not last for ever. It will lead to a great deal of strife in the coming years.

When countries each had their own currencies, the buck stopped with themselves. Go bust and it's on you. In the Eurozone this discipline is lacking and that is the fatal flaw.

Don't know if that's entirely true Woolster? The EU imposes fiscal rectitude as part of Euro membership. Members have a duty to apply it as a responsibility to other Eurozone members. Some say the conditions imposed on Greece as part of rhe bailouts were harsh (I'm not disputing it). But Greece wanted to stay in the Euro too.

But when you check out the Greek fiscal conduct leading up to the crisis they arguably brought it upon themselves. They hadn't collected due taxes on a massive basis for years and had misled the EU as to the state of the national finances on application. Why should other Euro members have to pay for that sort of conduct?

Edited by Non-Believer
Extra bit

Share this post


Link to post
Share on other sites
41 minutes ago, woolley said:

It would have done well before that but for the enormous political imperative of avoiding it at eye watering cost. It isn't stable as they currently claim

...except it didn't

Edited by Bobbie Bobster

Share this post


Link to post
Share on other sites
1 hour ago, Bobbie Bobster said:

...except it didn't

Why deny reality by scoring out the reason why it didn't? I don't think it's controversial. It was accepted that the single currency was toast without the bail out. That's a political decision.

Share this post


Link to post
Share on other sites
2 hours ago, woolley said:

Highly intelligent riposte. You know well that what I say is true. The only hope would be to have a completed fiscal, monetary and political union rather than the half way house that exists at the moment. Anyone for that? It would be fun to watch if nothing else.

Well Miserable, did you read this I posted earlier in this thread?

4 hours ago, P.K. said:

From one of the few economists who saw the 2008 crisis before it arrived:

https://www.theguardian.com/business/2018/sep/13/recession-2020-financial-crisis-nouriel-roubini

It seems we could all be headed for a fall.

The question then is in another 2008 scenario would the UK be better off in the EU or out?

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

×