Change? I don't see it.
back2basicz
11/28/2011 3:14:46 PM
Guys,
Regading the following comment in the article.
"remember that the worst of times often can serve as a catalyst for meaningful and powerful change."
For this to happen we need to first see real and constructive change and a departure for current economic policies.
Unfortunately as the Video below demonstrates no such change has been made-Yet.
http://dotsub.com/view/01ad2718-073c-474a-ac40-c7a72e199d55
Regards
Ashish.
Tokyo,
Who said the Euro is strong?
If you look at Gold priced in Euros its now at record lows.
The Euro is only highly valued against other Paper curencies like the US Dollar.
Thats because this is a race to the bottom where each and every Central Bank is striving to out-Devalue each other.
Case in point-The Damage the SNB did to the Swiss Franc's reputation as a Safe Haven by their stupid Pegging moves to the Euro.
They are playing an extremely foolish game today,and the consequence will be Global Inflation on an unimaginable scale.Thats the only way(alongwith Restructuring) that all this humungous Debt burden is going to be written off today.
Regards
Ashish.
There aws a good article to that effect in today's Wall Street Journal. With all this turmoil, I can not understand why the Euro is still so strong.
@Street Smart
The markets do seem to be taking the data into account. The trouble is that the data paints an unthinkable picture. That's why volatility is so high and we're bouncing between two extremes -
The sky really is falling. Europe is in a mess they can't fix. Stocks are expensive and need to drop more. This view has carried the day repeatedly over the last few months. Including the worst Thanksgiving week for stocks since 1932.
Or
Stocks are cheap. Europe will fix their mess because they HAVE to and therefore markets are stupidly cheap. This was the bet that MF Global (Jon Corzine) was so confident of that they bet the company on Italian bonds. Italian bonds.
Re: Wow
ProfR
11/28/2011 12:57:05 PM
yes, I was reading some articles about this. Some of the larger banks think the Euro zone will break up into local currencies again. They are planning for this contingency.
2 + 2 = Answer Hazy, Ask Again
Street Smart
11/28/2011 11:08:12 AM
One of the lasting positive legacies of the Great Depression was the creation of the many economic indices we use today to track employment, economic growth, money supply, etc. Prior to the 1930's, we had no way of tracking IF we were going off the rails and correspondingly, WHEN we were getting back on course.
What strikes me these days though, is that for all the data at our disposal, it doesn't seem to be mirroring the reality that the 99% are actually experiencing. It doesn't seem positively correlated; it doesn't seem negatively correlated--it seems to exist separate and apart in a puzzling way.
What are we to make of aberrational data that even the markets are ignoring? Seems like only "bottom line" facts like the rising cost of debt to France carry any weight.
Re: Wow
Phoenix
11/28/2011 10:59:48 AM
You have mentioned that the euro zone has just two options: break up or print money. At this point in time do you think that they should really call it a failure and to try to break up and let the tried and tested economic recovery processes take place with each country holding their own currency?
Like my dad always says, you can cut all the services and expenditures you want. If you're not bringing in MORE $$$, you will still be in the red. Makes sense to you & me but in practice, it almost always goes over the decision maker's heads.
It also really hits home when you point out that the fundamentals of economics are static, no matter what laws are passed or actions taken 2+2 is still 4, not 5.
Describing the slip into recession after the recession like: "heading into an all-nighter at work after spending a three-day weekend in Vegas without seeing your hotel room once" really puts the whole thing into perspective. A gloomy perspective, but perspective nonetheless...
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