[Bud]

Prettyy good article in Der Spiegel from yesterday, August 13:

"Banks, companies and investors are preparing themselves for a collapse of the euro. Cross-border bank lending is falling, asset managers are shunning Europe and money is flowing into German real estate and bonds. The euro remains stable against the dollar because America has debt problems too. But unlike the euro, the dollar's structure isn't in doubt. "

Investors preparing for collapse of the Euro

 

[paddysdaddy]

Whew, so the dollar isn't in doubt. For a minute there I was worried about the good ole US dollar.

 

[Jash]

Question for the better informed: What would happen if the Euro crisis triggerd the CDS? Wouldn't that kill all the worlds banks?

Isn't this what they're so afraid of, the cracking and collapse of the derivatives market?

 

[MtnCat]

Not sure who "they" are, Jash. But I'm buckled up and waiting for the roller coaster to start.

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[BoycottTheDay]

Milton told them right!

 

[Vette]

Oh good, the USD is safe. I was worried that the $16 Trillion in debt was gonna harm the value of it, but what do I know?

 

[BoycottTheDay]

If Greece had their own currency to inflate the rest of Europe would be fine too.

 

[Vette]

If Greece had their own currency to inflate the rest of Europe would be fine too.

And who's fault is that? The countries who gave up their own currencies to use a 'better' centralized currency.

 

[BoycottTheDay]

Well, if you read old books you will see people have been screwed by european currencies for hundreds of years...no surprise PMs are so popular eh?

 

[BoycottTheDay]

Just to make a point, whats worth more, the few '64 quarters i have or this pile of paper?

My pile of '64 quarters of course!

:thumb:

 

[Bud]

You know, the real shame of this is that the people being paid to protect us, the Executive and legislative Branches, the Fed reserve and all the other so called experts that are taking our money as pay to perform a service are just standing idly by and watching and waiting to see what will happen.

At some point, and i am beginning to suspect sooner rather than later, there is going to be a run on the banks here in the US, the stock market is going drop 2,000 points in a very short couple of days or some other financial calamity will occur and the whole giant shiny house of cards is going to just slowly collapse and people are going to start starving and if in the winter, freezing to death.

There is so much totally negative news coming in and as hard as i try, i just cannot find any positive news anywhere.

My best guess?

Beats me. I think there will be a race to see if the Euro collapse causes the dollar to fail or maybe vice versa.

 

[txflyer]

Once again, Europeans sa-la-vie attitude bites them in the ass. Should they have implemented austerity and QE a year or two ago similar to what we did, they would be in much better shape.

They were advised to do this, but ignored it, so live with it.

 

[HeadInSand]

Should they have implemented austerity and QE a year or two ago similar to what we did, they would be in much better shape.

Where's this austerity in the US that you speak of? Oh, and QE? We're better off for it? Don't think so. Maybe we've kicked the can for a while with it...but that's only going to intensify the eventual and undeniable pain.

 

[Jash]

Just to make a point, whats worth more, the few '64 quarters i have or this pile of paper?

My pile of '64 quarters of course!

:thumb:

Paper, meh! We have plastic notes. They're far more colorful.

 

[W.Lynn]

Paper, meh! We have plastic notes. They're far more colorful.

Also thoughtfully designed in different sizes, making it easier for the blind to manage the contents of their own wallets without needing to rely on others for such a basic thing.

But to get back to the point of the thread, I find no comfort in any economic collapse. When you point a finger and say "it's happening over there," the other fingers on that hand are pointed right back at ya.

The USA has been very involved with Europe since our beginning, these days, a major event anywhere in the world affects us all.

 

[txflyer]

Where's this austerity in the US that you speak of? Oh, and QE? We're better off for it? Don't think so. Maybe we've kicked the can for a while with it...but that's only going to intensify the eventual and undeniable pain.

Go try to get a mortgage you can't afford right now and see how that works out. Unlike 2007 and before, you won't get big money handed to you on a promise and some falsified paperwork. There's your austerity. A pseudo forced austerity put in place by the almost failed banking system and honest loan officers.

 

[HeadInSand]

Go try to get a mortgage you can't afford right now and see how that works out. Unlike 2007 and before, you won't get big money handed to you on a promise and some falsified paperwork. There's your austerity. A pseudo forced austerity put in place by the almost failed banking system and honest loan officers.

Okay, I'll be serious, since my previous post was a bit snarky. I (we) just did get a mortgage. But, we put down over 66% so, that's not really fair as it relates to making my point vs. yours. However, we've been watching the public records for this neighborhood (it's a brand new development, all new construction) and we're one of only three houses out of about 20+ that have closed so far, that put down 20% or more. Most houses so far have been purchased with anywhere between < 1% to < 10% down with most of those being < 5% down (and this is a $275k - $400k neighborhood). It's insane. The exact same stuff that played a huge part in this mess, is still going on, unabated. So there's your austerity. Unfortunately, I'm now living right smack dab in the middle of it, and I'm not seeing what you're describing.

Furthermore, I think most would agree that true austerity comes in the form of planned, intentional, or willful cut-backs, especially in government. And we certainly haven't seen anything on that front across any level of government. Essentially, it's still full steam ahead here in the United States, as far as I can tell. And that definitely doesn't bode well for our future.

 

[Jash]

Also thoughtfully designed in different sizes, making it easier for the blind to manage the contents of their own wallets without needing to rely on others for such a basic thing.

My wife has a regular patient that is blind. He knows which note it is which by folding them in half and comparing them to his watch (it's a talking watch).

 

[W.Lynn]

Jash, many banks serve the blind by having someone fold bills in particular ways so the customer can tell one from another. The Australian bills might take some getting used to, but no one's help is needed. Heck, if we switched to plastic (and probably keep security features and designs,) a braille number could be included on each bill that would probably hold up pretty well.

I don't mind doing something for someone, but isn't it better if we make sure they don't even need it done?

Rant off.

HeadInSand, we should all insist that the various leaders in the gov't learn to play the fiddle, and see if they finally get it.

 

[real wowwee]

Just to make a point, whats worth more, the few '64 quarters i have or this pile of paper?

My pile of '64 quarters of course!

:thumb:

I was in the first grade in 64. Every morning my teacher Mrs Bryant would have us kids empty our pockets and give us brand new shiny quarters and dimes for the old ones we had.