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Can anyone else see the storm approaching?...
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By (user no longer on site) OP
over a year ago
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Eurozone have agreed to bail out Greece - yet again - and write off half it's debts. The Euro leaders have also said that the EU need to bolster it's reserves so that it has enough money to continue to bail out faltering EU economies should it be neccessary (we can assume they are talking about Spain, Italy & Ireland here)...
....and then they ask the Chinese to pump in €70bn to the EU fund to prop up EU economies.
hmmmm... China... in the Far East... Europe... nowhere fecking near China. Why would the Chinese want to pump in such a wad of cash? Unless, of course, it's being promised something we haven't been told about. I know the UK isn't in the Euro but with the amount of times we've handed over £bns to EU countries this past year we might as fecking well be in it. But what's it going to cost us if to relieve the pressure of debt, EU leaders go and put themselves in even more debt (financial or otherwise) to a country like China who have a score to settle with the West.
...there may be trouble ahead... |
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By (user no longer on site)
over a year ago
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Bottom line is capitalism is heading to bankruptcy. We need a Roosevelt type "New Deal"
It's very dangerous for UK right now.
Our home market is not big enough or self-reliant enough to go it alone; we have to expert and import some commodities.
USA has 2%-ish growth but they are becoming protectionist. We cannot rely on them as they are in the business of saving themselves
If we are not part of central policy making in Europe then France and Germany will stitch us up so they maximise their own advantage
We screwed our friends and let the Common Wealth go.
Best case scenario is China bails out Europe so they can expert to it. We join after that as risk is substantially lower.
Worst case scenario, we get excluded from key decisions and struggle to export which would by Will Hutton's estimation lead unemployment to approach 10 million (Book = State We're In)
Conclusion, everyone should plan for worst case scenario, figure out ways to make a living when times get reall tough and hope for Best case scenario
My strategy? Buy more lottery tickets (;-) |
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By (user no longer on site)
over a year ago
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"Its not d to understand what's in it for the Chinese. They are an emerging growing economy reliant on the west for buying what they make after all.  "
Hi, with a quarter of the world's population living in China they could become self contained for a few years. They don't have the same pressures as we have. They're in the political influence game; there's always a price for bail out (;-)
Ironic how capitalism needs communism to bail it out (;-) |
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By (user no longer on site)
over a year ago
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"That was to sexy ray.
Can i be the sleaz old woman who runs the underground brothel where you pay for sex with mouldy loaves ?
I don't want anyone pinching my gold fillings when this war starts."
Yes, and a smart thing to do is team up with the Chinese chippy next door to it (;_) |
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By (user no longer on site)
over a year ago
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"Its not d to understand what's in it for the Chinese. They are an emerging growing economy reliant on the west for buying what they make after all.
Hi, with a quarter of the world's population living in China they could become self contained for a few years. They don't have the same pressures as we have. They're in the political influence game; there's always a price for bail out (;-)
Ironic how capitalism needs communism to bail it out (;-)"
Its not really true communism though now in China. Yes they could be self sufficient but as economy' grow they want goods with western brand names for kudos. For China its desirable for the Euro zone to be healthy for its own growth. |
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By (user no longer on site)
over a year ago
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"Its not d to understand what's in it for the Chinese. They are an emerging growing economy reliant on the west for buying what they make after all.
Hi, with a quarter of the world's population living in China they could become self contained for a few years. They don't have the same pressures as we have. They're in the political influence game; there's always a price for bail out (;-)
Ironic how capitalism needs communism to bail it out (;-)
Its not really true communism though now in China. Yes they could be self sufficient but as economy' grow they want goods with western brand names for kudos. For China its desirable for the Euro zone to be healthy for its own growth. "
Yes, you could be right |
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By (user no longer on site)
over a year ago
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"Should we be buying shares in the companies that manufacture chop sticks then?  "
You can't, I cornered the market last night. I am Mr Chopsticks !!! (;-) |
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"Eurozone have agreed to bail out Greece - yet again - and write off half it's debts. The Euro leaders have also said that the EU need to bolster it's reserves so that it has enough money to continue to bail out faltering EU economies should it be neccessary (we can assume they are talking about Spain, Italy & Ireland here)...
....and then they ask the Chinese to pump in €70bn to the EU fund to prop up EU economies.
hmmmm... China... in the Far East... Europe... nowhere fecking near China. Why would the Chinese want to pump in such a wad of cash? Unless, of course, it's being promised something we haven't been told about. I know the UK isn't in the Euro but with the amount of times we've handed over £bns to EU countries this past year we might as fecking well be in it. But what's it going to cost us if to relieve the pressure of debt, EU leaders go and put themselves in even more debt (financial or otherwise) to a country like China who have a score to settle with the West.
...there may be trouble ahead..."
Sensible answer...China needs to prop up its markets,and cant afford to have the Euro and dollar go through the floor as it holds the biggest foreign currency reserves.
Its basically in the situation we were in during the height of the industrial revolution,without the option of starting an opium war to get goods into markets.Whilst its neo colonialism is opening up various African markets they are not as yet developed enough to provide the amount of exports it need to continue to grow.
There may indeed be an element of pwer politics in its backing of the dollar,so far it has continued to buy dollars and support the US economy.The history of Sino/Chinese relations is complex,and muddied by American support of Taiwan.This actually helps Europe though as China is on record as saying they want a strong Euro to challenge the Euro,America as the worlds super power worries them.A united states of Europe would actually be the Chinese preferred solution.
You might ask why given their strength the Chinese do not want the Renimbi to be the challenger to the dollar.This would damage their export led economy though.
Right thats enough economics...who wants a blow job  |
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The European Union sector is the world's biggest buyer of Chinese exports, when the EU sector is in the grip of a debt crisis these exports from China suffer.
I think China exports around 300 Billion Euros worth of goods into the EU every year, they can't afford for the crisis to deepen any further.
That's my take on it... |
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By (user no longer on site)
over a year ago
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"Eurozone have agreed to bail out Greece - yet again - and write off half it's debts. The Euro leaders have also said that the EU need to bolster it's reserves so that it has enough money to continue to bail out faltering EU economies should it be neccessary (we can assume they are talking about Spain, Italy & Ireland here)...
....and then they ask the Chinese to pump in €70bn to the EU fund to prop up EU economies.
hmmmm... China... in the Far East... Europe... nowhere fecking near China. Why would the Chinese want to pump in such a wad of cash? Unless, of course, it's being promised something we haven't been told about. I know the UK isn't in the Euro but with the amount of times we've handed over £bns to EU countries this past year we might as fecking well be in it. But what's it going to cost us if to relieve the pressure of debt, EU leaders go and put themselves in even more debt (financial or otherwise) to a country like China who have a score to settle with the West.
...there may be trouble ahead...
Sensible answer...China needs to prop up its markets,and cant afford to have the Euro and dollar go through the floor as it holds the biggest foreign currency reserves.
Its basically in the situation we were in during the height of the industrial revolution,without the option of starting an opium war to get goods into markets.Whilst its neo colonialism is opening up various African markets they are not as yet developed enough to provide the amount of exports it need to continue to grow.
There may indeed be an element of pwer politics in its backing of the dollar,so far it has continued to buy dollars and support the US economy.The history of Sino/Chinese relations is complex,and muddied by American support of Taiwan.This actually helps Europe though as China is on record as saying they want a strong Euro to challenge the Euro,America as the worlds super power worries them.A united states of Europe would actually be the Chinese preferred solution.
You might ask why given their strength the Chinese do not want the Renimbi to be the challenger to the dollar.This would damage their export led economy though.
Right thats enough economics...who wants a blow job "
Like this analysis! and yes please (;-) |
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By (user no longer on site)
over a year ago
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"It's all going Wong. "
The sky never caves in ! We are seeing the end of one set of business rules and the emergence of another. just got to make sure ordinary people don't get screwed in the transition
buy more lottery tickets !! (;-) |
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"It's all going Wong.
The sky never caves in ! We are seeing the end of one set of business rules and the emergence of another. just got to make sure ordinary people don't get screwed in the transition
buy more lottery tickets !! (;-)"
I would have thought that that main aim of anyone here is to see that the ordinary man gets screwed.
I just don't see myself in regulation Mao grey .......sigh. |
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By (user no longer on site)
over a year ago
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This may sound outlandish, but for the last few years the east has been the main reason why scrap metal has soared in prices as they are buying it at an alarming rate and it can't be for their car manufacturing as they are made out of flimsy monkey metal, so whats it for?
Is the metal for building war machines?
They are also monopolising the financial world and are loaning money to or buying western businesses, banks etc. Even buying or putting money into football teams (no faster way to kill moral than to fuck football up when shit hits the fan).
Somebody has been studying ways to demoralise the west, sport and money being the answer possibly?
With the strained financial crisis the U K and USA are in, we have even been forced to reduce our military forces thus weakening our defence and leaving us vulnerable to attacks from enemies.
A chink in the armour?
Just a thought.
|
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"This may sound outlandish, but for the last few years the east has been the main reason why scrap metal has soared in prices as they are buying it at an alarming rate and it can't be for their car manufacturing as they are made out of flimsy monkey metal, so whats it for?
Is the metal for building war machines?
They are also monopolising the financial world and are loaning money to or buying western businesses, banks etc. Even buying or putting money into football teams (no faster way to kill moral than to fuck football up when shit hits the fan).
Somebody has been studying ways to demoralise the west, sport and money being the answer possibly?
With the strained financial crisis the U K and USA are in, we have even been forced to reduce our military forces thus weakening our defence and leaving us vulnerable to attacks from enemies.
A chink in the armour?
Just a thought.
"
Yes,[its outlandish. Scrap metal is useless for reuse in manufacturing high quality materials...the collection of scrap and iron railngs ect during the second world war was for propaganda purposes and the Chinese back yard furnaces during the great leap forward led to massive shortages and destruction,to know result. |
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"Eurozone have agreed to bail out Greece - yet again - and write off half it's debts. The Euro leaders have also said that the EU need to bolster it's reserves so that it has enough money to continue to bail out faltering EU economies should it be neccessary (we can assume they are talking about Spain, Italy & Ireland here)...
....and then they ask the Chinese to pump in €70bn to the EU fund to prop up EU economies.
hmmmm... China... in the Far East... Europe... nowhere fecking near China. Why would the Chinese want to pump in such a wad of cash? Unless, of course, it's being promised something we haven't been told about. I know the UK isn't in the Euro but with the amount of times we've handed over £bns to EU countries this past year we might as fecking well be in it. But what's it going to cost us if to relieve the pressure of debt, EU leaders go and put themselves in even more debt (financial or otherwise) to a country like China who have a score to settle with the West.
...there may be trouble ahead...
Sensible answer...China needs to prop up its markets,and cant afford to have the Euro and dollar go through the floor as it holds the biggest foreign currency reserves.
Its basically in the situation we were in during the height of the industrial revolution,without the option of starting an opium war to get goods into markets.Whilst its neo colonialism is opening up various African markets they are not as yet developed enough to provide the amount of exports it need to continue to grow.
There may indeed be an element of pwer politics in its backing of the dollar,so far it has continued to buy dollars and support the US economy.The history of Sino/Chinese relations is complex,and muddied by American support of Taiwan.This actually helps Europe though as China is on record as saying they want a strong Euro to challenge the Euro,America as the worlds super power worries them.A united states of Europe would actually be the Chinese preferred solution.
You might ask why given their strength the Chinese do not want the Renimbi to be the challenger to the dollar.This would damage their export led economy though.
Right thats enough economics...who wants a blow job
Like this analysis! and yes please (;-)"
Why dont you live closer
And ty...i absorbed some economics in the student union bar...though not enough to stop me always loosing at strip monopoly  |
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By (user no longer on site)
over a year ago
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"This may sound outlandish, but for the last few years the east has been the main reason why scrap metal has soared in prices as they are buying it at an alarming rate and it can't be for their car manufacturing as they are made out of flimsy monkey metal, so whats it for?
Is the metal for building war machines?
They are also monopolising the financial world and are loaning money to or buying western businesses, banks etc. Even buying or putting money into football teams (no faster way to kill moral than to fuck football up when shit hits the fan).
Somebody has been studying ways to demoralise the west, sport and money being the answer possibly?
With the strained financial crisis the U K and USA are in, we have even been forced to reduce our military forces thus weakening our defence and leaving us vulnerable to attacks from enemies.
A chink in the armour?
Just a thought.
"
An interesting thorny but it falls flat on its face. We all know porn is the most looked at thing on the net. If they were trying to demoralise the Chinese would he bought all the porn producers and recast beasts of the in the main roles. |
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By (user no longer on site)
over a year ago
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"This may sound outlandish, but for the last few years the east has been the main reason why scrap metal has soared in prices as they are buying it at an alarming rate and it can't be for their car manufacturing as they are made out of flimsy monkey metal, so whats it for?
Is the metal for building war machines?
They are also monopolising the financial world and are loaning money to or buying western businesses, banks etc. Even buying or putting money into football teams (no faster way to kill moral than to fuck football up when shit hits the fan).
Somebody has been studying ways to demoralise the west, sport and money being the answer possibly?
With the strained financial crisis the U K and USA are in, we have even been forced to reduce our military forces thus weakening our defence and leaving us vulnerable to attacks from enemies.
A chink in the armour?
Just a thought.
Yes,[its outlandish. Scrap metal is useless for reuse in manufacturing high quality materials...the collection of scrap and iron railngs ect during the second world war was for propaganda purposes and the Chinese back yard furnaces during the great leap forward led to massive shortages and destruction,to know result."
I used to work for a company that smelted and supplied aluminium ingots to companies that supplied the MOD and also the precious metals used for communication and computer circuitry.
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By (user no longer on site)
over a year ago
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"This may sound outlandish, but for the last few years the east has been the main reason why scrap metal has soared in prices as they are buying it at an alarming rate and it can't be for their car manufacturing as they are made out of flimsy monkey metal, so whats it for?
Is the metal for building war machines?
They are also monopolising the financial world and are loaning money to or buying western businesses, banks etc. Even buying or putting money into football teams (no faster way to kill moral than to fuck football up when shit hits the fan).
Somebody has been studying ways to demoralise the west, sport and money being the answer possibly?
With the strained financial crisis the U K and USA are in, we have even been forced to reduce our military forces thus weakening our defence and leaving us vulnerable to attacks from enemies.
A chink in the armour?
Just a thought.
An interesting thorny but it falls flat on its face. We all know porn is the most looked at thing on the net. If they were trying to demoralise the Chinese would he bought all the porn producers and recast beasts of the in the main roles. "
No, they try to demoralise us with strange bukake films and pixalated pubes and cartoons of tentacled beings defiling women, to show us they have no limits of depravity |
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Just heard an relevant fact regarding Greece. When Germany invaded Greece in WW2 they confiscated all the gold bullion as a 'loan' to pay the costs of them occupying. They have never paid it back. At today's value that is worth £95Billion but Germany refuses to repay it saying it would set a precedent to other countries whose gold they 'borrowed'.
If that is true it doesn't excuse Greece for shit financial management but it does show how dishonourable the system is. |
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jemima for BBC economics correspondent!!
whatever happens the 'working class' will get shafted and the rich will get richer
any rise in unemployment and the increase in extremism, both religous and political dont look good.
as for protectionism, pretty much everyone will do that when things get tight.
people are not spending 'cos of the fear of whats coming
China may well bail out the euro but they will want something for it?
as for the euro being the common currency in 5 years with the same members, mmm not sure it will survive tbh
it aint the 'bankers & the establishments' kids being chucked on the scrapheap as an acceptable price to pay to resolve the debt crisis caused in part by the bankers
and like feckin lemmings we do naff all about it, never mind when the arms manufacturers and the government want another war that will employ some of those cast aside by the 'system' 
were all doomed |
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For the last few months China’s trade surplus has been shrinking, largely as a reflection of the economic situation in Europe. In July trade surplus was at a record high in China and whilst it remains high when looking at their trading with the USA, the balance of trade with the EU is not look as healthy as it did such a short time ago… the trade surplus has more than halved.
It is still a surplus though… for now. Should it continue to shrink at the current rate, well that’s a different dish of noodles.
A country so dependant on imported raw materials to sustain domestic growth (and trying hard to control inflation) cannot afford to get to close to a trade deficit with one of its major markets.
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By *abioMan
over a year ago
Newcastle and Gateshead |
"For the last few months China’s trade surplus has been shrinking, largely as a reflection of the economic situation in Europe. In July trade surplus was at a record high in China and whilst it remains high when looking at their trading with the USA, the balance of trade with the EU is not look as healthy as it did such a short time ago… the trade surplus has more than halved.
It is still a surplus though… for now. Should it continue to shrink at the current rate, well that’s a different dish of noodles.
A country so dependant on imported raw materials to sustain domestic growth (and trying hard to control inflation) cannot afford to get to close to a trade deficit with one of its major markets.
"
which is the exactly reason why the UK was heavily involved in the Irish bailout.... it stands to lose a lot more by not helping and sitting on the sideline, then it does by partly footing some of the bill.....
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