Cyproitic!
The island of Cyprus is about to go under. Not literally, of course, but financially … as in tYou must Subscribe or log in to read the rest of this content.
The island of Cyprus is about to go under. Not literally, of course, but financially … as in tYou must Subscribe or log in to read the rest of this content.
18 comments
The thing about a Euro collapse is that it temporarily strengthens the dollar(depositors fleeing the Euro go to the dollar thinking it’s safe). Not that printing up $80B/month is going to keep it that way.
And that in turn keeps the price of gas in check. If there is a run in Spain or Portugal on the banks, that could destroy the Euro and cause another global recession.
Which Big T would blame on Obama, of course.
The thing about a Euro collapse is that it temporarily strengthens the dollar(depositors fleeing the Euro go to the dollar thinking it’s safe). Not that printing up $80B/month is going to keep it that way.
And that in turn keeps the price of gas in check. If there is a run in Spain or Portugal on the banks, that could destroy the Euro and cause another global recession.
Which Big T would blame on Obama, of course.
Huh… was that an attempt at economics or propaganda. Like the US and as a result of an influx of lots of cash to its banksters, the banks invested in Greek bonds and real estate to inflate returns to pay greater returns and lure more deposits. Without adequate banking regulations, the banks grew, then bonds blew, then the real estate bubble popped. Its a game of duck, duck, goose; one less chair and the big 5 international banks are still playing.
If Cyprus could print its own money, it could have emulated Iceland, and let the bank’s investors eat the losses. But, since it is tied to the Euro, it is at the mercy of the dumbasses in Germany and Belgium who think austerity is the cure for a depressed economy.
tomstickler, uh, you are an absolutely STUPID sh!t. You do realize that those dumb-A countries that you criticize for their austere and superior financial management views have some of the most powerful economies in the world, don’t you? You do see the correlation don’t you?
I just get my info from folks like Krugman, Stiglitz and Keynes. From whom do SMART shits like you get your info?
Huh… was that an attempt at economics or propaganda. Like the US and as a result of an influx of lots of cash to its banksters, the banks invested in Greek bonds and real estate to inflate returns to pay greater returns and lure more deposits. Without adequate banking regulations, the banks grew, then bonds blew, then the real estate bubble popped. Its a game of duck, duck, goose; one less chair and the big 5 international banks are still playing.
If Cyprus could print its own money, it could have emulated Iceland, and let the bank’s investors eat the losses. But, since it is tied to the Euro, it is at the mercy of the dumbasses in Germany and Belgium who think austerity is the cure for a depressed economy.
tomstickler, uh, you are an absolutely STUPID sh!t. You do realize that those dumb-A countries that you criticize for their austere and superior financial management views have some of the most powerful economies in the world, don’t you? You do see the correlation don’t you?
I just get my info from folks like Krugman, Stiglitz and Keynes. From whom do SMART shits like you get your info?
Cyprus is an interesting island country with a long history. Now essentially divided between the majority Greeks and the minority Turks.
A legend says that when God called a meeting of the peoples of the world to hand out attributes to them in the hopes of easing strife, the Greeks were the last to show up. The only attribute left was Intrigue – the Greeks told God, “We will take it!”
Here is a link to a story posted today which will flesh out this story……
http://www.dailymail.co.uk/news/article-2297258/If-Cyprus-falls-Putins-grip-West-lost-battle-new-Cold-War.html
Perhaps a more scholarly analysis:
http://www.cepii.fr/BLOG/en/post.asp?IDcommunique=194
Thanks – it adds additional perspective to the news reports, My interest in this was because I lived on Cyprus for two years, which were both adventurous and enjoyable. This was before the Russians moved in.
Cyprus is an interesting island country with a long history. Now essentially divided between the majority Greeks and the minority Turks.
A legend says that when God called a meeting of the peoples of the world to hand out attributes to them in the hopes of easing strife, the Greeks were the last to show up. The only attribute left was Intrigue – the Greeks told God, “We will take it!”
Here is a link to a story posted today which will flesh out this story……
http://www.dailymail.co.uk/news/article-2297258/If-Cyprus-falls-Putins-grip-West-lost-battle-new-Cold-War.html
Perhaps a more scholarly analysis:
http://www.cepii.fr/BLOG/en/post.asp?IDcommunique=194
Thanks – it adds additional perspective to the news reports, My interest in this was because I lived on Cyprus for two years, which were both adventurous and enjoyable. This was before the Russians moved in.