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RE: Is our mess going to spread to Europe? - 10/7/2008 10:41:44 PM
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mapachito13
Posts: 2498
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Iceland teeters on the brink of bankruptcy
First country on the verge of insolvency.
Now the Nostradamuses and JW's will be dusting off their signs that read, "The End Is Near!" I hope God waits until AFTER the Super Bowl! 
The key word that links them to our crisis is "deregulation" one of the favorite Republican slogans.
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Peace Sells....But Who's Buying!
"I would argue that the most serious threat to the United States is not someone hiding in a cave in Pakistan or Afghanistan, but our own fiscal irresponsibility."-David Walker, fmr comptroller general of the US
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RE: Is our mess going to spread to Europe? - 10/8/2008 1:57:26 PM
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mapachito13
Posts: 2498
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"But the whole system was built on a shaky foundation of foreign debt.
The country's top four banks now hold foreign liabilities in excess of $100 billion, debts that dwarf Iceland's gross domestic product of $14 billion." (Article from Post # 25)
This is the same type of hole we are digging in this country! In February 2007, our federal debt was 64% of our GDP! China holds $1.3 trillion of our debt and it has already impacted our foreign policy towards them. We are approaching a dangerous tipping point in our nation's finances! But McSame wants business as usual.
_____________________________
Peace Sells....But Who's Buying!
"I would argue that the most serious threat to the United States is not someone hiding in a cave in Pakistan or Afghanistan, but our own fiscal irresponsibility."-David Walker, fmr comptroller general of the US
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RE: Is our mess going to spread to Europe? - 10/8/2008 2:01:19 PM
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AdrianaS
Posts: 1226
Joined: 3/21/2007
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"Armageddon" avoided in UK: here
"In other words, there's been a co-ordinated global attempt to prop up the financial system and save individual economies from a deep dark recession".yep BC's around Euroe, Asia, US worked together cutting cutting but it effects was felt for just few minutes and went volatile again...
WOW Nikey close a - 9,3%... the lowest in 21years!
And the dollar is between 2,35 and 2,40 in Brasil..and BC Brasil is selling reserves, high demand dollars into the market...until exports normalize and market calms down etc
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RE: Is our mess going to spread to Europe? - 10/8/2008 2:11:29 PM
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AdrianaS
Posts: 1226
Joined: 3/21/2007
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quote:
ORIGINAL: mapachito13
"But the whole system was built on a shaky foundation of foreign debt.
The country's top four banks now hold foreign liabilities in excess of $100 billion, debts that dwarf Iceland's gross domestic product of $14 billion." (Article from Post # 25)
This is the same type of hole we are digging in this country! In February 2007, our federal debt was 64% of our GDP! China holds $1.3 trillion of our debt and it has already impacted our foreign policy towards them. We are approaching a dangerous tipping point in our nation's finances! But McSame wants business as usual.
Yep..
What I don't get it as how come so much debit US still have credit around ?
The ones where US is borrowing from will not eternely keep lending it..
Does US repay some of it or just keep accumulatig debt on top of debts?
Here we go..IMF Police..LOL.. comes to my mind again as it does not let nations at peace at least 3rd wold ones, as exorbitant interest going on about money nations get from it etc..and it seems nations may never find the end of paying their debts..I know I have been there living in a nation in debt with IMF etc etc
What Japan and China and others, gets by lending money to US ?
US is not an exporter any more just a consumer and expender ? It seems..
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RE: Is our mess going to spread to Europe? - 10/8/2008 2:24:39 PM
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mapachito13
Posts: 2498
Joined: 10/1/2007
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quote:
ORIGINAL: AdrianaS
Yep..
What I don't get it as how come so much debit US still have credit around ?
The ones where US is borrowing from will not eternely keep lending it..
Good question!
quote:
Does US repay some of it or just keep accumulatig debt on top of debts?
We just keep piling it on!
quote:
Here we go..IMF Police..LOL.. comes to my mind again as it does not let nations at peace at least 3rd wold ones, as exorbitant interest going on about money nations get from it etc..and it seems nations may never find the end of paying their debts..I know I have been there living in a nation in debt with IMF etc etc
We are spending our way into a third world country. I bet we owe more than all the African nations put together!
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What Japan and China and others, gets by lending money to US ?
With China, it's leverage on us. With the others, it may be access to our markets (so we can import more stuff).
quote:
US is not an exporter any more just a consumer and expender ? It seems..
... like an unreal economic policy? A policy that lacks common sense? Yes, we have been importing more than we have been exporting for years. Cargo ships come in full and go back empty.
_____________________________
Peace Sells....But Who's Buying!
"I would argue that the most serious threat to the United States is not someone hiding in a cave in Pakistan or Afghanistan, but our own fiscal irresponsibility."-David Walker, fmr comptroller general of the US
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RE: Is our mess going to spread to Europe? - 10/8/2008 2:29:01 PM
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letusreason
Posts: 809
Joined: 8/30/2008
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quote:
ORIGINAL: mapachito13
Yes, we have been importing more than we have been exporting for years. Cargo ships come in full and go back empty.
Wow you nailed that whole "import" thing, I can't argue with that explanation lol.
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RE: Is our mess going to spread to Europe? - 10/8/2008 3:07:06 PM
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AdrianaS
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Wait a second here than...than US debt kind of helped business here go abroad open new companies and embrace new ones all together.. and by doing that, known US goods brands worldwide exports decreased and even closing those domestic business at home..as abroad goods were cheaper better deals..we somehow went for all of that?
Than by we choosing go foreigner and cheaper we may have saved in the short run but hurt ourselves really bad in the long run? And now our goods would be expensive to compete with those around cheaper..maybe no one will going to buy it at all...we cannot resucitate the "old" exports but come up with whole new ones..what can we produce more that people outside will pay the right price for it? Hightech stuff? What industries we can have monopolio and be grade A+ again, steady shipping all over again?
Markets are very competitive everybody wants piece of the cake.
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RE: Is our mess going to spread to Europe? - 10/8/2008 5:33:32 PM
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AdrianaS
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Here we go..
Another emergency meeting about the economy crisis, now between the G-20 Central Banks..it will happen on Saturday at 6pm IMF headquarters in DC.
IMF Police is at work...
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RE: Is our mess going to spread to Europe? - 10/9/2008 12:14:30 AM
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mapachito13
Posts: 2498
Joined: 10/1/2007
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quote:
ORIGINAL: AdrianaS
Wait a second here than...than US debt kind of helped business here go abroad open new companies and embrace new ones all together.. and by doing that, known US goods brands worldwide exports decreased and even closing those domestic business at home..as abroad goods were cheaper better deals..we somehow went for all of that?
Than by we choosing go foreigner and cheaper we may have saved in the short run but hurt ourselves really bad in the long run? And now our goods would be expensive to compete with those around cheaper..maybe no one will going to buy it at all...we cannot resucitate the "old" exports but come up with whole new ones..what can we produce more that people outside will pay the right price for it? Hightech stuff? What industries we can have monopolio and be grade A+ again, steady shipping all over again?
Markets are very competitive everybody wants piece of the cake.
You got a good grasp of the subject that no one is willing to talk about seriously here. We lose 1.5 million manufacturing jobs a year to other countries. I test metal and it is disheartening to see forgings that are going into our military fighter jets stamped with "Made In China".
How are we going to stand up to a country who we owe over $1.3 trillion dollars AND who makes the parts for our military equipment?
_____________________________
Peace Sells....But Who's Buying!
"I would argue that the most serious threat to the United States is not someone hiding in a cave in Pakistan or Afghanistan, but our own fiscal irresponsibility."-David Walker, fmr comptroller general of the US
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RE: Is our mess going to spread to Europe? - 10/9/2008 7:58:24 AM
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mapachito13
Posts: 2498
Joined: 10/1/2007
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Canada rated world's soundest bank system: survey
"Canada has the world's soundest banking system, closely followed by Sweden, Luxembourg and Australia, a survey by the World Economic Forum has found as financial crisis and bank failures shake world markets.
But Britain, which once ranked in the top five, has slipped to 44th place behind El Salvador and Peru, after a 50 billion pound ($86.5 billion) pledge this week by the government to bolster bank balance sheets.
The United States, where some of Wall Street's biggest financial names have collapsed in recent weeks, rated only 40, just behind Germany at 39, and smaller states such as Barbados, Estonia and even Namibia, in southern Africa."
Wow these governments that have been labeled "socialistic" seem to be in better shape to weather this financial storm than the "free-market, capitalistic" ones. I guess bank regulation by the government is not such a bad thing after all!
_____________________________
Peace Sells....But Who's Buying!
"I would argue that the most serious threat to the United States is not someone hiding in a cave in Pakistan or Afghanistan, but our own fiscal irresponsibility."-David Walker, fmr comptroller general of the US
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RE: Is our mess going to spread to Europe? - 10/9/2008 12:28:56 PM
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AdrianaS
Posts: 1226
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WOW Congratulations Canada!
Thanks not only for Canada standings but the rates all the other nations do have now...Britain behind El Savador and Peru ? German ranks 39th and US 40th..
Yeh..the labeling does not stick as real results and facts shows up.
EU countries have a mess of their own there..hope they do come up united as countries do differ also in their domestic messes and etc they must come up with their national plans as stick in agreements together..I think.
I do think this situation will be here for a while as some were already in recession..I read last night that those big strong countries grow were 1% as the developing countries were up 5%...that by itself was not a give away of the situation going on in those countries? And the situation of those mature strong markets going down as we see and not recuperating etc is bad bad indeed.
Oh man..for countries that are big exporters it just sucks so very much frustrating! We want keep growing, show us the money lets do business! LOL
"You got a good grasp of the subject that no one is willing to talk about seriously here. We lose 1.5 million manufacturing jobs a year to other countries. I test metal and it is disheartening to see forgings that are going into our military fighter jets stamped with "Made In China".
How are we going to stand up to a country who we owe over $1.3 trillion dollars AND who makes the parts for our military equipment? "
wow..this situation is unbeliavable..indeed.
That is so crazy..I have no words..
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RE: Is our mess going to spread to Europe? - 10/9/2008 5:13:48 PM
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GroupW
Posts: 2911
Joined: 11/16/2007
From: Up in the hills of Colorado (very BIG hills...)
Status: offline
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quote:
ORIGINAL: mapachito13
Canada rated world's soundest bank system: survey
"Canada has the world's soundest banking system, closely followed by Sweden, Luxembourg and Australia, a survey by the World Economic Forum has found as financial crisis and bank failures shake world markets.
But Britain, which once ranked in the top five, has slipped to 44th place behind El Salvador and Peru, after a 50 billion pound ($86.5 billion) pledge this week by the government to bolster bank balance sheets.
The United States, where some of Wall Street's biggest financial names have collapsed in recent weeks, rated only 40, just behind Germany at 39, and smaller states such as Barbados, Estonia and even Namibia, in southern Africa."
Wow these governments that have been labeled "socialistic" seem to be in better shape to weather this financial storm than the "free-market, capitalistic" ones. I guess bank regulation by the government is not such a bad thing after all!
Good regulation is one part of the equation - differences in individual attitudes toward risk are also a factor. For example, it's pretty common in Canada for commercial real estate owners to keep their real estate loans down in the low 60% LTV's. Here in the US, it's mostly a 65% and higher market - even up to 85 or 90%. That has a lot to do with the safety and soundness of a countries financial institutions.
_____________________________
“For every problem, there is a solution that is simple, elegant and wrong.” -H.L. Mencken
"Most people would rather die than think; in fact, they do so." -Bertrand Russell
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RE: Is our mess going to spread to Europe? - 10/9/2008 5:56:13 PM
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mapachito13
Posts: 2498
Joined: 10/1/2007
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quote:
ORIGINAL: GroupW
quote:
ORIGINAL: mapachito13
Canada rated world's soundest bank system: survey
"Canada has the world's soundest banking system, closely followed by Sweden, Luxembourg and Australia, a survey by the World Economic Forum has found as financial crisis and bank failures shake world markets.
But Britain, which once ranked in the top five, has slipped to 44th place behind El Salvador and Peru, after a 50 billion pound ($86.5 billion) pledge this week by the government to bolster bank balance sheets.
The United States, where some of Wall Street's biggest financial names have collapsed in recent weeks, rated only 40, just behind Germany at 39, and smaller states such as Barbados, Estonia and even Namibia, in southern Africa."
Wow these governments that have been labeled "socialistic" seem to be in better shape to weather this financial storm than the "free-market, capitalistic" ones. I guess bank regulation by the government is not such a bad thing after all!
Good regulation is one part of the equation - differences in individual attitudes toward risk are also a factor. For example, it's pretty common in Canada for commercial real estate owners to keep their real estate loans down in the low 60% LTV's. Here in the US, it's mostly a 65% and higher market - even up to 85 or 90%. That has a lot to do with the safety and soundness of a countries financial institutions.
In CA, the (un-)Realtors were offering 100%-125% LTV loans banking on the home value increasing forever! But you're right! It is only part of it! Honest loan brokers are another side of it.
_____________________________
Peace Sells....But Who's Buying!
"I would argue that the most serious threat to the United States is not someone hiding in a cave in Pakistan or Afghanistan, but our own fiscal irresponsibility."-David Walker, fmr comptroller general of the US
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RE: Is our mess going to spread to Europe? - 10/10/2008 6:38:44 AM
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Birdiecat
Posts: 49
Joined: 5/2/2008
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The first Pres. Bush gave a speech on Sept. 11, 1990, about the new world order. Funny thing about that date, huh?
Looks to me like the new world order has arrived, people!
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Come, Lord Jesus!
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RE: Is our mess going to spread to Europe? - 10/10/2008 3:32:12 PM
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GroupW
Posts: 2911
Joined: 11/16/2007
From: Up in the hills of Colorado (very BIG hills...)
Status: offline
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quote:
ORIGINAL: Birdiecat
The first Pres. Bush gave a speech on Sept. 11, 1990, about the new world order. Funny thing about that date, huh?
Looks to me like the new world order has arrived, people!
Ecclesiastes 1:9 (New International Version)
9 What has been will be again,
what has been done will be done again;
there is nothing new under the sun.
Funny - the new world order looks a lot like the one's we've had in the past.
_____________________________
“For every problem, there is a solution that is simple, elegant and wrong.” -H.L. Mencken
"Most people would rather die than think; in fact, they do so." -Bertrand Russell
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