I have a growing feeling that the EU is falling apart

AG47

nkomp18 wrote: »

Interesting how you view european countries as time bombs but somehow you don't consider the UK to be one massive about-to-explode time bomb itself.

Currently 1.8 t.

1.8 trillion is nothing, it will be double that in a few years time.

Europe is falling apart.

CLAPTON

AG47 wrote: »

Excellent post. But you can't say the uk is in worse position than Greece or Italy because we can print more currency. They could just type in this many trillions of pounds into their bank accounts and spend it how they want. Those who joined the euro can't do that.

It's the pound sterling that is the ticking time bomb, but then every unbacked fiat currency is in the same boat since 1971

well, as long as the ticking time bomb keps ticking for the next 100 or so years, then lets all enjoy the many benefits and pleasures it has delivered to us all

Conrad

AG47 wrote: »

1.8 trillion is nothing, it will be double that in a few years time.

We have a trade deficit with the EU, a surplus with the ROW


Devaluation is perfect and will slowly enable us to earn more hard currency abroad and start addressing the production gap - we borrow to mask the fact we don't produce enough schit and sell it abroad.


Devaluation is precisely the pressure vale we needed in a competitive world.




As to our Govt spending I agree with you - this is unsustainable, but I cannot see it changing.


Make a note of every spending demand you hear in the next month - it really adds up and then note the number of stories along the lines of individual patients being awarded millions by the NHS, or calls for yet another multi million £ enquiry or yet more calls for foreign aid or Ebola or longer care visits at home, £10 million per obese patient for their total needs over a lifetime (just their obesity related needs)


It's this mindless entitlement mind-set that will eventually cause an almighty bust


Those that call for more spending never seem to step back and pause in their entitlement greed

antrobus

Electrum wrote: »

...So many hard working people who thought money in the bank was safe have lost their life savings.....

Really? Who?

Electrum wrote: »

..Then there is Deustcher Bank derivative time bomb.

In your cited Guardian piece it states;

By his reckoning, Deutsche Bank was less fundamentally profitable than its rivals, and relied more on leverage to boost earnings. His analysis suggests it will struggle to return to its former profitability.

So it sounds like Eisman expects DB to keep on chugging away.