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as the Collapse Nears

Discussion in 'Financial Cents' started by tacmotusn, Jul 9, 2012.

  1. tacmotusn

    tacmotusn Mosquito Sailor

    Doomsdays Loom For Euro, Dollar

    July 9, 2012 by Sam Rolley
    A euro collapse could lead to dollar devaluation.​
    The European Union is, and has been for some time, in the midst of economic calamity. Matters are only getting worse, and Americans should be worried.
    British politician Nigel Farage pointed out last week while speaking to the European Parliament that through 19 economic crises summits, Eurozone leaders have yet to make progress in saving the sinking euro ship.
    Farage likened the latest summit to The Rolling Stones’ famous tune “19th Nervous Breakdown.”
    The British lawmaker contends that the European Union has proven insoluble and suggests that its separate member nations leave the Eurozone, go back to original currencies and “get back their democracy and identity.”
    But that isn’t likely to happen.
    At the latest — “19th Euro Breakdown” — summit last month, European leaders moved to halt the economic crises that have taken hold in Spain and Italy by agreeing to a radical bailout package. As a part of the package, Eurozone leaders have committed to European Central Bank-led oversight for banks, hence allowing a rescue fund — the European Stability Mechanism (ESM) — to recapitalize banks directly. Traditionally, the taxpayer-provided bailout funds would have been lent to governments.
    The leaders of the 17 Eurozone countries are expected to meet today to clarify bailout details, but say it will be months before they finalize the plan.
    Farage said in a recent interview that the plan essentially creates a European debt union controlled by the economically solvent Germany. He predicts that political disagreement about allowing one European country to gain too much control will hamper any European bailout efforts and posits European leaders’ efforts to “kick the can down the road” and prolong the European economic collapse will ultimately fail as financial markets force a collapse.

    As the United States is facing its own economic difficulties, a Eurozone collapse would have definite negative financial implications stateside. Longstanding economic cooperation between the European Union and the United States has led to a healthy trade relationship that would likely collapse along with the euro. The result will be higher consumer prices on some goods for Americans.
    Actions that may be taken to aid the Eurozone by the International Monetary Fund should also raise concerns with Americans. Because of the United States’ involvement in the IMF — contributing about 18 percent of the IMF’s funding via American taxpayers — any attempt by the fund to rescue a collapsing euro would come in part from Americans’ pockets despite the fact that the IMF has no direct accountability to the American populace.
    Another problem the U.S. economy faces in the event of a euro collapse is the Federal Reserve’s willingness to engage in the same tactics that have failed Europe to attempt to stimulate the economy both at home and globally. The Fed already moved last month to continue “Operation Twist” — a program designed to lower long-term interest rates in an effort to promote borrowing — until the end of the year, and is prepared to further intervene in markets if the euro fails.
    “We are hoping for the best … but we are prepared in case things get worse to protect the U.S. economy and the U.S. financial system,” Fed Chairman Ben Bernanke told reporters last month.
    Bernanke’s preparations include the prospect of another round of quantitative easing (money printing), which could lead to massive dollar devaluation if Fed policy fails.
    source. .... http://personalliberty.com/2012/07/09/doomsdays-loom-for-euro-dollar/?eiid=
  2. DKR

    DKR Interesting ideas, interesting stories

    Altogether now - let's sing...

    Things are looking bad for the Euro, and we no longer have to wonder how it will en, only when....
  3. Moatengator

    Moatengator Monkey

    “We are hoping for the best … but we are prepared in case things get worse to protect the U.S. economy and the U.S. financial system,” Fed Chairman Ben Bernanke told reporters last month.
    Bernanke’s preparations include the prospect of another round of quantitative easing (money printing), which could lead to massive dollar devaluation if Fed policy fails."

    Read more: http://www.survivalmonkey.com/threads/as-the-collapse-nears.33935/#ixzz20Aqpjbya

    LOL,,,,,I count on it failing. The Fed does not have a good track record!!
  4. Alpha Dog

    Alpha Dog survival of the breed

    I found this a few min ago I hate to say it but people it's here.

    Roubini: My 'Perfect Storm' Is Unfolding Now

    cnbc-byline-and-rr-title--210454-_052435. By Ansuya Harjani | CNBC – 15 hours ago

    "Dr. Doom" Nouriel Roubini, says the "perfect storm" scenario he forecast for the global economy earlier this year is unfolding right now as growth slows in the U.S., Europe as well as China.

    In May, Roubini predicted four elements - stalling growth in the U.S., debt troubles in Europe, a slowdown in emerging markets, particularly China, and military conflict in Iran - would come together in to create a storm for the global economy in 2013.

    "(The) 2013 perfect storm scenario I wrote on months ago is unfolding," Roubini said on Twitter on Monday.

    Chinese inflation data released on Monday, suggested that the economy is cooling faster than expected, while employment data out of the U.S. on Friday indicated that jobs growth was tepid for a fourth straight month in June.

    Roubini said that unlike in 2008 when central banks had "policy bullets" to stimulate the global economy, this time around policymakers are "running out of rabbits to pull out of the hat."

    Policy easing moves by the European Central Bank (ECB), Bank of England (BoE) and the People's Bank of China (PBoC) last week did little to inspire confidence in global stock markets.

    "Levitational force of policy easing can only temporarily lift asset prices as gravitational forces of weaker fundamentals dominate over time," he said.

    Bill Smead, CEO of Smead Capital Management, agrees that there is little central banks can do arrest the global slowdown.

    Last week, he told CNBC that there is "virtually zero chance" that pump-priming by central banks will succeed, suggesting that policymakers should instead let the economic bust work itself through the system.
  5. tulianr

    tulianr Don Quixote de la Monkey

    Spain prepares more austerity, protesters battle police


    MADRID (Reuters) - Protesters clashed with police in Spain's capital on Tuesday as the government prepared a new round of unpopular austerity measures for the 2013 budget to be announced on Thursday.

    Thousands gathered in Neptune plaza, a few meters from El Prado museum in central Madrid, where they formed a human chain around parliament, surrounded by barricades, police trucks and more than 1,500 police in riot gear.

    Police fired rubber bullets and beat protesters with truncheons, first as protesters were trying to tear down barriers and later to clear the square. The police said at least 22 people had been arrested and at least 32 injured, including four policemen.
    The 2013 budget is the second conservative Prime Minister Mariano Rajoy has had to pass since he took office in December. Spain must persuade its European partners that it can cut the budget shortfall by more than 60 billion euros by 2014.

    Rajoy has already passed spending cuts and tax hikes worth slightly more than that over the next two years, but half-year figures show the 2012 deficit target slipping from view as tax income forecasts will not be hit due to economic contraction.

    He said earlier this month the 2013 budget would cut spending further in all areas of government apart from pensions and borrowing costs.

    Spain is at the center of the euro zone debt crisis on concerns the government cannot control its finances and those of highly indebted regions, bitten by a second recession since 2009 which has put one in four workers out of a job.
    The government is also expected on Thursday or Friday to set a fresh timetable for economic reforms, seen as an attempt to pre-empt strict EU-imposed conditions for aid.

    "Let us in, we want to evict you," protesters chanted outside parliament. The number of home evictions has soared as thousands of people have defaulted on mortgage loans.

  6. NWPilgrim

    NWPilgrim Monkey++

    "Spending cuts and tax hikes." That is the future. Our future.

    First the global banksters will try to saddle taxpayers with as much income confiscation as will be tolerated. Then services will be cut deeper and broader. Then more and more property and tangibles will be confiscated in lieu of nonpayment of personal and govt debt. And private savings and 401ks will be nationalized. The end game is making us indentured servants of the global banksters with our own govts as the enforcer and them left holding majority if real property and tangibles.
  7. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    This is a perfect example of an illegal (from the rear) nose-hook coupled with an eye-gouge. Is there no end to the lack of humanity? Sheesh. Also, you can easily tell at the bottom right, the female officer is going in for a "gotchya" grab with her left hand.
    tulianr likes this.
  8. tulianr

    tulianr Don Quixote de la Monkey

    Yeah, I thought this was a beautiful photo. The guy at least is going to get some bragging rights out of this, by pointing out how many officers it took to subdue him.
  9. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    Remember folks, If caught in a no win situation like this you should be armed with a pen (preferably a metal barreled one) and aim for:
    The crease where the groin meets the thigh
    the arm pit
    and the soft fleshy part just behind the chin

    Quigley_Sharps and jollyrodger13 like this.
  10. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    Here's some economic advice: Don't make purchases on credit, especially the really stupid ones.

    Quigley_Sharps likes this.
  11. jollyrodger13

    jollyrodger13 ready for action

    Thank god I have only some small loans/debts out there! :D The house & land is paid for, trucks, etc. too! :D I hope the collapse holds off a little longer (1.5 yrs.) and all will be well on the old homestead![winkthumb] I hope all will be well for all you monkey's out there when it does happen & everyone weathers the storm!:unsure:
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