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Is the Euro going to collapse?

lunakilo

lunakilo

Well-Known Member
stephenw said:
I see no basis for your view that markets work. Have you evidence that they do?
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Define what work means.

The way the world works today is partly a result of 'the tyranny of markets'
You will probably argue that the world today doesn't really work, and I would tend to agree with you on that, but even so most people have what they need and then some. So I don't see the current system as a complete disaster.

Personally I would like to see things change for the better. But I am more for fixing the holes in the current system than throwing it all away and starting over with a completely untested (unless you count eastern europe as a test) and rather vaguely defined system.
 
Revoltingest

Revoltingest

Pragmatic Libertarian
Premium Member
stephenw said:
Show me an alternative to communism that has been tried that works.
Capitalism is a giant failure that has no equal in spreading misery.
We are only limited by our imagination. Communism is freedom.
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It all depends upon the definition of "works".
Under capitalism, people can cooperate to produce & consume.
There is great potential for liberty...more so than competing systems.
There will be inequality of results....some succeed & some fail.
Some like the results & some don't.
But clearly, it works.
When societies stray from capitalism, eg, PRC, USSR, Cuba, it sure doesn't look appealing to me. But even those systems work.
 
sandandfoam

sandandfoam

Veteran Member
Hyperinflation, a run on Greek banks, violence, economic depression, international isolation and investor panic spreading to Italy and Spain make up the worst-case scenario if Greece were to default on its 370 billion euro debts.
European banks that lent to Greece at the height of the borrowing binge would certainly be hit; French banks have been particularly under pressure in recent days for their Greek exposure.
A Greek default would also likely set off a domino effect. Since investors would no longer believe the euro zone protects its own members, they would sell off Spanish and Italian paper, possibly sparking more defaults. Banks and governments around the world holding euro assets would take major losses.
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This is the slowest train wreck imaginable.

source Q&A: How did the euro zone get into its debt mess? | Reuters
 
lunakilo

lunakilo

Well-Known Member
Revoltingest said:
No matter how complicated their analysis, it boils down to states spending far more than they take in.
Can't blame this on markets.
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It boils down to state A states spending far more than they take in and state B being responsible for what state A does but having no direct influence on the matter.

Great system :facepalm:
 
Reverend Rick

Reverend Rick

Frubal Whore
Premium Member
The Fed is going to print more money to help prop up the euro. To me, that is almost treason.

The only advice I can give is if you have any money stashed somewhere, buy gold!
 
Kathryn

Kathryn

It was on fire when I laid down on it.
Hey, the Euro was WAY down against the dollar today - at about 1.30 dollars to every Euro.

That's down from 1.65 from a few weeks ago.

Cool.
 
lunakilo

lunakilo

Well-Known Member
Kathryn said:
Hey, the Euro was WAY down against the dollar today - at about 1.30 dollars to every Euro.

That's down from 1.65 from a few weeks ago.

Cool.
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It would be cool if the dollar was UP against the Euroin stead of two currencies in free fall.

But I guess this is age old "misery loves company" ;)
 
Kathryn

Kathryn

It was on fire when I laid down on it.
Yeah, maybe so, Luna!

We're in a world wide recession with no relief in sight. Anyone who doesn't acknowledge that fact has their head in the sand.
 
sandandfoam

sandandfoam

Veteran Member
D-MITCH777 said:
I don't think the Euro will collapse. You might see more powers go to Brussels, especially in the Eurozone.
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I don't know. Italy is in big trouble and France and Spain are entering very choppy waters.
The ECB won't print money and it seems to be coming down to Germany v's Everyone else.
I thought it instructive that the German parliament received figures regarding Irish tax increases before the Irish parlaiment. The mask is slipping...
 
Sunstone

Sunstone

De Diablo Del Fora
Premium Member
sloth, indolence? In other words, Europeans don't work for twenty-five cents an hour, seven days a week, like the Chinese factory slaves? Gosh! How indolent! How slothful. And to think, I once respected Europeans. But how can I do that now that I know they don't work for twenty-five cents an hour?
 
sandandfoam

sandandfoam

Veteran Member
Sunstone said:
sloth, indolence? In other words, Europeans don't work for twenty-five cents an hour, seven days a week, like the Chinese factory slaves? Gosh! How indolent! How slothful. And to think, I once respected Europeans. But how can I do that now that I know they don't work for twenty-five cents an hour?
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If our masters have their way you'll be free to admire us again soon. If we're really good we'll even die nice and young so as not to burden anyone.
 
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