Economic Collapse 2011?

[urbanrealtor]

http://www.reuters.com/article/2011/05/06/greece-eurozone-exit-idUSLDE7451YY20110506

I stand corrected.

Still, one statement by the ministry among a bunch of quotes from non-Greeks is scary sounding.

Note: The reference to being corrected refers to the Greek ministry statement in the article.

[briansd1]

[quote=Eugene]
Britons have their own idiots in the government. They tried to balance the budget by going all-austere about a year ago (basically doing what the GOP pretends to try to do here now) and some (including myself on this very forum) prognosticated that it would end up badly. Consequently, as we’ve been gradually trying to dig ourselves out of the hole, they ended up going deeper:
http://www.bbc.co.uk/news/business-12757675
http://www.telegraph.co.uk/finance/economics/8476194/UK-GDP-grows-0.5pc-reaction.html

(and the second link informs me that “the full force of the public spending cuts is yet to be unleashed”, so there’s more suffering to come.)

But not having the euro straitjacket certainly helped limit the pain.[/quote]

I believe that you were correct.

Some people forget that growth has a compounding effect over time. Allowing growth to go negative is always a bad idea because it’s that much harder to catch up later.

We are growing and Britain is stagnating. The gap will grow wider as time goes by and it will be harder for Britain to catch up.

[briansd1]

[quote=Eugene]
Britons have their own idiots in the government. They tried to balance the budget by going all-austere about a year ago (basically doing what the GOP pretends to try to do here now) and some (including myself on this very forum) prognosticated that it would end up badly. Consequently, as we’ve been gradually trying to dig ourselves out of the hole, they ended up going deeper:
http://www.bbc.co.uk/news/business-12757675
http://www.telegraph.co.uk/finance/economics/8476194/UK-GDP-grows-0.5pc-reaction.html

(and the second link informs me that “the full force of the public spending cuts is yet to be unleashed”, so there’s more suffering to come.)

But not having the euro straitjacket certainly helped limit the pain.[/quote]

I believe that you were correct.

Some people forget that growth has a compounding effect over time. Allowing growth to go negative is always a bad idea because it’s that much harder to catch up later.

We are growing and Britain is stagnating. The gap will grow wider as time goes by and it will be harder for Britain to catch up.

[briansd1]

[quote=Eugene]
Britons have their own idiots in the government. They tried to balance the budget by going all-austere about a year ago (basically doing what the GOP pretends to try to do here now) and some (including myself on this very forum) prognosticated that it would end up badly. Consequently, as we’ve been gradually trying to dig ourselves out of the hole, they ended up going deeper:
http://www.bbc.co.uk/news/business-12757675
http://www.telegraph.co.uk/finance/economics/8476194/UK-GDP-grows-0.5pc-reaction.html

(and the second link informs me that “the full force of the public spending cuts is yet to be unleashed”, so there’s more suffering to come.)

But not having the euro straitjacket certainly helped limit the pain.[/quote]

I believe that you were correct.

Some people forget that growth has a compounding effect over time. Allowing growth to go negative is always a bad idea because it’s that much harder to catch up later.

We are growing and Britain is stagnating. The gap will grow wider as time goes by and it will be harder for Britain to catch up.

[briansd1]

[quote=Eugene]
Britons have their own idiots in the government. They tried to balance the budget by going all-austere about a year ago (basically doing what the GOP pretends to try to do here now) and some (including myself on this very forum) prognosticated that it would end up badly. Consequently, as we’ve been gradually trying to dig ourselves out of the hole, they ended up going deeper:
http://www.bbc.co.uk/news/business-12757675
http://www.telegraph.co.uk/finance/economics/8476194/UK-GDP-grows-0.5pc-reaction.html

(and the second link informs me that “the full force of the public spending cuts is yet to be unleashed”, so there’s more suffering to come.)

But not having the euro straitjacket certainly helped limit the pain.[/quote]

I believe that you were correct.

Some people forget that growth has a compounding effect over time. Allowing growth to go negative is always a bad idea because it’s that much harder to catch up later.

We are growing and Britain is stagnating. The gap will grow wider as time goes by and it will be harder for Britain to catch up.

[briansd1]

[quote=Eugene]
Britons have their own idiots in the government. They tried to balance the budget by going all-austere about a year ago (basically doing what the GOP pretends to try to do here now) and some (including myself on this very forum) prognosticated that it would end up badly. Consequently, as we’ve been gradually trying to dig ourselves out of the hole, they ended up going deeper:
http://www.bbc.co.uk/news/business-12757675
http://www.telegraph.co.uk/finance/economics/8476194/UK-GDP-grows-0.5pc-reaction.html

(and the second link informs me that “the full force of the public spending cuts is yet to be unleashed”, so there’s more suffering to come.)

But not having the euro straitjacket certainly helped limit the pain.[/quote]

I believe that you were correct.

Some people forget that growth has a compounding effect over time. Allowing growth to go negative is always a bad idea because it’s that much harder to catch up later.

We are growing and Britain is stagnating. The gap will grow wider as time goes by and it will be harder for Britain to catch up.

[Nancy_s soothsayer]

Economic collapse in 2011 — if food prices inflate SO MUCH in the next few months, then maybe we can call it an economic collapse.

[Nancy_s soothsayer]

Economic collapse in 2011 — if food prices inflate SO MUCH in the next few months, then maybe we can call it an economic collapse.

[Nancy_s soothsayer]

Economic collapse in 2011 — if food prices inflate SO MUCH in the next few months, then maybe we can call it an economic collapse.

[Nancy_s soothsayer]

Economic collapse in 2011 — if food prices inflate SO MUCH in the next few months, then maybe we can call it an economic collapse.

[Nancy_s soothsayer]

Economic collapse in 2011 — if food prices inflate SO MUCH in the next few months, then maybe we can call it an economic collapse.

[Veritas]

Brian wanted to know the answer to this question, Veritas, who exactly authorized the AIG bailout?

Here is one answer, your mileage may vary-

“There’s really no statutory authority for the AIG takeover…I won’t bother noting that the DC Circuit, were it to sit in judgment on whether the Fed could buy the world’s largest insurer, would undoubtedly conclude that the plain language of its governing statute (which is to make emergency loans, not require takeovers in exchange) would not permit the takeover under Chevron USA v. NRDC.”
http://legalblogwatch.typepad.com/legal_blog_watch/2008/09/federal-bailout.html

Europe is also experiencing problems with bankers:
“There’s a growing feeling that the banks have played a big part in the problems now facing Spain,” said del Rio, 37, who gathered with a throng of people in the town’s main square last week as protests that began May 15 swelled across the country. “There’s real anger with banks that got out of control.”

http://www.bloomberg.com/news/2011-05-31/spanish-ire-against-bankers-spills-over-in-city-center-protests.html

[Veritas]

Brian wanted to know the answer to this question, Veritas, who exactly authorized the AIG bailout?

Here is one answer, your mileage may vary-

“There’s really no statutory authority for the AIG takeover…I won’t bother noting that the DC Circuit, were it to sit in judgment on whether the Fed could buy the world’s largest insurer, would undoubtedly conclude that the plain language of its governing statute (which is to make emergency loans, not require takeovers in exchange) would not permit the takeover under Chevron USA v. NRDC.”
http://legalblogwatch.typepad.com/legal_blog_watch/2008/09/federal-bailout.html

Europe is also experiencing problems with bankers:
“There’s a growing feeling that the banks have played a big part in the problems now facing Spain,” said del Rio, 37, who gathered with a throng of people in the town’s main square last week as protests that began May 15 swelled across the country. “There’s real anger with banks that got out of control.”

http://www.bloomberg.com/news/2011-05-31/spanish-ire-against-bankers-spills-over-in-city-center-protests.html

[Veritas]

Brian wanted to know the answer to this question, Veritas, who exactly authorized the AIG bailout?

Here is one answer, your mileage may vary-

“There’s really no statutory authority for the AIG takeover…I won’t bother noting that the DC Circuit, were it to sit in judgment on whether the Fed could buy the world’s largest insurer, would undoubtedly conclude that the plain language of its governing statute (which is to make emergency loans, not require takeovers in exchange) would not permit the takeover under Chevron USA v. NRDC.”
http://legalblogwatch.typepad.com/legal_blog_watch/2008/09/federal-bailout.html

Europe is also experiencing problems with bankers:
“There’s a growing feeling that the banks have played a big part in the problems now facing Spain,” said del Rio, 37, who gathered with a throng of people in the town’s main square last week as protests that began May 15 swelled across the country. “There’s real anger with banks that got out of control.”

http://www.bloomberg.com/news/2011-05-31/spanish-ire-against-bankers-spills-over-in-city-center-protests.html

[Veritas]

Brian wanted to know the answer to this question, Veritas, who exactly authorized the AIG bailout?

Here is one answer, your mileage may vary-

“There’s really no statutory authority for the AIG takeover…I won’t bother noting that the DC Circuit, were it to sit in judgment on whether the Fed could buy the world’s largest insurer, would undoubtedly conclude that the plain language of its governing statute (which is to make emergency loans, not require takeovers in exchange) would not permit the takeover under Chevron USA v. NRDC.”
http://legalblogwatch.typepad.com/legal_blog_watch/2008/09/federal-bailout.html

Europe is also experiencing problems with bankers:
“There’s a growing feeling that the banks have played a big part in the problems now facing Spain,” said del Rio, 37, who gathered with a throng of people in the town’s main square last week as protests that began May 15 swelled across the country. “There’s real anger with banks that got out of control.”

http://www.bloomberg.com/news/2011-05-31/spanish-ire-against-bankers-spills-over-in-city-center-protests.html

[Author]

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