That "E"-conomy Factor


Ocean Breeze
#31
Quote: Originally Posted by CliffyView Post

And just how do you expect to get the sheeple away from their TVs? There is a definite plan to dumb down the populace and TV is the main medium. A kull of the human population is in the works and the sheeple will be the sacrificial lambs (pun intended).

human version of "survival of the fittest........er richest " The dumbing down has been taking place for some time. The so called "news" is nothing but infotainment. ( UK and Canada still have some channels that are almost reasonable and almost informative) .... but when one turns on the US media.........it is stunning to see what is being played out for human consumption....and repeated, and repeated ad nausea um. Like how many times does one have to hear about Charlie sheen and his drug induced nonsense. Or some of the other "stories" that get over played consuming air time.........while many important global issues are ignored. But as the ratings determine what is presented and the public decides what it wants to watch which in turn determines the ratings .....and one has a rapidly devolving culture and society.

All one has to do is consider the Michael Jackson's Dr. trial. First ......how can any physician who has taken the oath get caught up in the celebrity trap ?? How can a supposedly intelligent individual get caught up needing money so bad.....he would sell his profession to the celeb culture??

Maybe it is time for ADULTS ( or close facsimile of ) to learn how to say NO.

(be it to the "I want , I want NOW immaturity , or to situations that are so hi risk it is just foolish to consider them)
 
Ocean Breeze
#32
CNN breaking news:


-- S & P Ratings Services lowers its unsolicited

long- and short-term credit ratings on Italy to

'A/A-1' from 'A+/A-1+'.
 
Ocean Breeze
#33
Gasoline, food push inflation to 3.1 per cent in August-from CTV

Gasoline, food push inflation to 3.1 per cent in August - CTV News
 
Ocean Breeze
#34
CNN breaking news mailing:

Stocks plunged Thursday as investors were gripped by fear. The Dow sank 390 points or 3.5%. The Nasdaq and S&P 500 each fell about 3.2%.



The Federal Reserve’s comments about "significant downside risks" coupled with weak manufacturing reports from China and the eurozone sparked a broad sell-off that spilled into copper, oil and gold.



As investors rushed out of stocks, they poured money into bonds, sending the yield on the 10-year Treasury note to a record low.



At this rate, the Dow is on track for its worst week in nearly three years.

>+=+=+=+=+=+=+=+=+=+=+=
 
Dixie Cup
#35
George Soros (sp) is likely behind it too!

JMO
 
Ocean Breeze
#36
Study: Wealthy Stockbrokers More Dangerous Than Psychopaths



The findings are a reminder of why now -- more than ever -- we must refuse to succumb to political apathy and laissez-faire demagoguery.

Study: Wealthy Stockbrokers More Dangerous Than Psychopaths | | AlterNet (external - login to view)


Interesting perspective with some valid points.(IMO)

While Wall Street Quakes, Greece’s Fire Still Burns Bright

by Michelle Chen
While we may be inspired to see a leaderless mass movement finally crystallizing in U.S. cities (external - login to view), the American occupations still can't hold a candle to the fire raging across Greece.
Police detain a protester during an anti-austerity rally in Athens October 5, 2011. Police fired tear gas at stone-throwing youths in central Athens Wednesday, where thousands of striking state sector workers marched against cuts the government says are needed to save the nation from bankruptcy. (REUTERS/John Kolesidis)


This past week, demonstrators again unleashed their rage (external - login to view) across the tiny Mediterranean republic, blocking government agencies and clashing with government thugs amid plumes of tear gas, with assorted spectacles (external - login to view) like trying to burn a European Union flag in effigy. Wilder than the spontaneous encampments in New York, Boston and other cities, the Greek tempests of the past several months have been persistent and rancorous enough to actually shake up the trading floor and the halls of Eurozone-IMF officialdom, as the troika hover, anxious and vulture-like, over a smoldering pyre of sovereign debt

While Wall Street Quakes, Greece (external - login to view)
 
Ocean Breeze
#37
EU leaders make deal on banks

EU leaders make deal on banks - Business - CBC News
 
Ocean Breeze
#38
European Union leaders announced an agreement early Thursday in Brussels on debt crisis measures including a hard-fought deal with private sector investors to write down Greek bonds by 50%.



The agreement came at the end of marathon talks to finalize details of a comprehensive policy response to the government debt crisis threatening the stability of the euro currency and global economy.



French President Nicolas Sarkozy said Greek bondholders voluntarily agreed to write down the value of Greek bonds by 50%, which translates to 100 billion euros and will reduce the nation's debt load to 120% from 150%.



Sarkozy said the leaders agreed to boost the firepower of the EU bailout fund, known as the European Financial Stability Facility, "by four or five fold." He added that officials have negotiated additional funding from the International Monetary Fund.



The writedowns were one of three inter-related problems political l eaders must solve to devise a comprehensive solution to Europe's debt crisis. They must also determine how to leverage a government-backed bailout fund and stabilize the banking sector.

Source: CNN breaking news.

Source: Breaking News Alert

The New York Times

Wednesday, October 26, 2011 -- 11:11 PM EDT

-----



Banks Agree to Take Loss on Greek Debt to Help Resolve Euro Crisis



European leaders in Brussels obtained an agreement from banks in meetings early Thursday to take a 50 percent loss on the face value of their Greek debt, making significant progress toward resolving the euro zone financial crisis.



The accord was reached just before 4 a.m. local time after difficult bargaining and represented a crucial element for restoring credibility to the euro. The severe reduction would bring Greek debt down by 2020 to 120 percent of that nation’s gross domestic product, a figure still enormous, but more sustainable for an economy driven into recession by austerity measures.
 
Ocean Breeze
#39
source: ; breaking news from CNN

New fears about the fate of the European rescue plan reverberated through stock markets in the United States and around the world.



Stocks were hit hard early in the day after Greek Prime Minister George Papandreou made a surprise call for a public vote on Greece's bailout -- raising questions about a carefully crafted rescue plan agreed to only last week. Conflicting reports later in the day about whether the referendum will indeed occur kept investors on edge.



The Dow Jones industrial average sank 297 points, while the S&P 500 and the Nasdaq each fell about 3%.



The day's selloff puts the S&P 500 and Nasdaq back in negative territory for the year, while the Dow is up just 0.7% in 2011
 
darkbeaver
#40
The Greek people like the Icelanders intend for the bankers to get nothing but stuffed.
 
Ocean Breeze
#41
Mark Carney predicts 'brief recession' in Europe

Mark Carney predicts 'brief recession' in Europe - CTV News

Americans: Awash In Spin

Americans: Awash In Spin (external - login to view)


.........this is very concerning and will not improve anytime soon. The casualty has been truth and facts........replaced by spin and false reassurances.

Greek government in chaos with debt deal in doubt

Greek government in chaos with debt deal in doubt - Yahoo! News


This situation certainly makes Greece vulnerable.........
 
captain morgan
#42
Quote: Originally Posted by Ocean BreezeView Post


Greek government in chaos with debt deal in doubt - Yahoo! News


This situation certainly makes Greece vulnerable.........


... Only to their own greed and stupidity.

The global markets will recover. Greece won't if they take this path
 
Ocean Breeze
#43
Japan intervenes to tame soaring yen ahead of G20


Japan intervenes to tame soaring yen ahead of G20 | Reuters (external - login to view)

Quote: Originally Posted by captain morganView Post

... Only to their own greed and stupidity.

The global markets will recover. Greece won't if they take this path


What path SHOULD they take , in your opinion??? Thx.
 
captain morgan
#44
Quote: Originally Posted by Ocean BreezeView Post

What path SHOULD they take , in your opinion??? Thx.

Complete responsibility for their former and future decisions.

Greek society wanted more than they could afford and sadly, their politicians delivered just that... What they are faced with now is that those benefits that they received today were financed by mortgaging the futures of the Greek youth... If anyone is really to blame in this scenario, it is those that demanded - and received - those benefits at the next generation(s) expense.

The global investing /banking community simply gave them what they wanted today under the promise that the cash would be returned. Now that the party is over, Greek society has to deal with the inevitable hangover.

The best thing that they can do is tackle this issue head-on and learn from their experience.
 
Cliffy
#45
It is the Greeks decision to make. The bankers won't like it. Too bad. They will be voting on whether or not they want to dictated to by other countries or do they want to keep their sovereignty. Like several countries before them, they will hopefully choose sovereignty. The world banking community needs a good swift kick in the nuts and the Greeks have a chance to deliver it.
 
Ocean Breeze
#46
German Economists on Greek Referendum

'The Euro Zone Could Face Ruin'


German Economists on Greek Referendum: 'The Euro Zone Could Face Ruin' - SPIEGEL ONLINE - News - International (external - login to view)

Quote: Originally Posted by captain morganView Post

Complete responsibility for their former and future decisions.

Greek society wanted more than they could afford and sadly, their politicians delivered just that... What they are faced with now is that those benefits that they received today were financed by mortgaging the futures of the Greek youth... If anyone is really to blame in this scenario, it is those that demanded - and received - those benefits at the next generation(s) expense.

The global investing /banking community simply gave them what they wanted today under the promise that the cash would be returned. Now that the party is over, Greek society has to deal with the inevitable hangover.

The best thing that they can do is tackle this issue head-on and learn from their experience.

......OK......"tackle the issue head on". How do you suggest they do that ?? what specifics would be in order.

thx.

Humans being what they are.....don't do well at learning from their experience. Otherwise one would not see the same issues coming up in a repetative way that is discouraging at best.
 
captain morgan
#47
Quote: Originally Posted by Ocean BreezeView Post

German Economists on Greek Referendum 'The Euro Zone Could Face Ruin'.

If the Greeks are thinking of purposefully defaulting on the debt, the EU would be better-off providing that same financing to the European banks that would experience the loss.

The EU will need to keep the banks liquid, so assuming that the banks were willing to take a 50% write-down, offer them the difference in cash or through tax exemptions.


Quote: Originally Posted by Ocean BreezeView Post

......OK......"tackle the issue head on". How do you suggest they do that ?? what specifics would be in order.

thx.

  1. Take the bail-out money.
  2. Reform the tax system in Greece (ie. actually collect taxes)
  3. Scale-back the social services.
  4. Increase the retirement age to a more reasonable age.
  5. Downsize government.
  6. Promote more private sector activity.

Quote: Originally Posted by Ocean BreezeView Post

Humans being what they are.....don't do well at learning from their experience. Otherwise one would not see the same issues coming up in a repetative way that is discouraging at best.

That depends on the nature of the experience... Believe me, if Greece elects to default on the loans, they will be in for a very rocky road for the next 40-50 years.... My bet is that if they do take that path, they will suffer greatly and never do it again.
 
Ocean Breeze
#48
Quote: Originally Posted by captain morganView Post

If the Greeks are thinking of purposefully defaulting on the debt, the EU would be better-off providing that same financing to the European banks that would experience the loss.

The EU will need to keep the banks liquid, so assuming that the banks were willing to take a 50% write-down, offer them the difference in cash or through tax exemptions.




  1. Take the bail-out money.
  2. Reform the tax system in Greece (ie. actually collect taxes)
  3. Scale-back the social services.
  4. Increase the retirement age to a more reasonable age.
  5. Downsize government.
  6. Promote more private sector activity.


That depends on the nature of the experience... Believe me, if Greece elects to default on the loans, they will be in for a very rocky road for the next 40-50 years.... My bet is that if they do take that path, they will suffer greatly and never do it again.

exellent points, and effectively condensed.
 
Ocean Breeze
#49
Bill Gates (the .001%) Joins the 99% for Robin Hood Tax

One of the world's richest and many of the poorest agree on something, but the Obama administration is holding out.

by Sarah Anderson (external - login to view)
The world's second-richest man and a group of American nurses on the frontlines of the Occupy Wall Street protests came to the G20 summit in Cannes, France this week to advocate for the same thing.Bill Gates backs the financial transactions tax. (Photo by Tristan Nitot)
Bill Gates came because French President Nicolas Sarkozy asked him to give G20 leaders recommendations on how to raise funds to meet the needs of the world's poorest. Among Gates' proposals: a small tax on trades of stocks, derivatives, and other financial instruments, also known as a financial transactions tax (FTT), Wall Street speculation tax, or the Robin Hood tax.

Bill Gates (the .001%) Joins the 99% for Robin Hood Tax | Common Dreams (external - login to view)
 
Ocean Breeze
#50
G20 grapples with global economic shift - and the eurozone debt crisis


Großansicht des Bildes mit der Bildunterschrift: All eyes are on the eurozone (external - login to view)

The world's 20 largest economies met for a final day of crisis talks in Cannes, where they wrestled with a global shift from the developed nations to powerful new emerging economies - and irritation from the eurozone.





The uncertainty in the eurozone and the political turmoil in Greece hung over the G20 summit in Cannes, France like a dark cloud. A flurry of crisis sessions came one after the other in a bid by the International Monetary Fund (IMF), the eurozone members and other G20 states to find an answer to the global challenges coming from Athens.

G20 grapples with global economic shift - and the eurozone debt crisis | Europe | Deutsche Welle | 04.11.2011 (external - login to view)
 
Ocean Breeze
#51
Harper says no Canadian money for European bailout

Harper says no Canadian money for European bailout - World - CBC News

Fed-up clients ditch banks for 'Transfer Day'

Fed-up clients ditch banks for 'Transfer Day' - World - CBC News
 
Ocean Breeze
#52
Greek Prime Minister George Papandreou will resign after the makeup of the nation's new coalition government is decided, officials said Sunday.



Sunday's Cabinet meeting will be the last with Papandreou as prime minister, a government spokesman said in a statement.



The meeting will focus on issues relating to Monday's Euro group meeting, at which Finance Minister Evangelos Venizelos will represent Greece, the statement said.



A spokesman for Papandreou's Socialist PASOK party said the prime minister will resign after the government is announced.



Venizelos is likely to remain in his post as finance minister in a new government, sources told Greek television. Candidates for the prime minister's job include Petros Moliviatis and Loukas Papaimos, according to Greek television.



The new government will have a life of four months, according to Greek television, citing sources, and elections will be held in early spring.



The announcement comes amid economic and political turmoil in Greece and the formation of a coalition government tasked with saving the nation from bankruptcy.



A Greek default could drag down larger European economies, in particular those of Italy and Spain, as well as struggling Portugal and Ireland, analysts warn.

**********source: CNN breaking news mailing.
 
Ocean Breeze
#53
Growing fears about Italy's debt problems hammered stocks in the United States and around the world on Wednesday.



Stocks were hit hard from the open after Italian bond yields spiked above 7%, raising concern that Italy may be headed toward needing a bailout. European officials reportedly said later in the day that a rescue was out of the question, adding to the selling pressure.



The Dow Jones industrial average sank 389 points while the S&P 500 fell 3.9%, and the Nasdaq dropped 3.6%.



The day's selloff puts the S&P 500 and Nasdaq back in negative territory for the year, while the Dow is up just 1.7% in 2011.

>+=+=+=+=+=+=+=+=+=+=+=Source: CNN breaking news.

Breaking News Alert

The New York Times

Wednesday, November 9, 2011 -- 4:05 PM EST

-----



U.S. Stock Indexes Tumble by Over 3% on Fears About Italy’s Debt



Stocks plummeted Wednesday and European bond yields rose to worrying levels on fears that Europe’s sovereign debt crisis was widening.



As trading came to an end on Wall Street, the Dow Jones industrial average was down nearly 390 points, or more than 3 percent. The broader Standard & Poor’s index was off about 3.7 percent, with bank stocks hit the hardest.



European shares fared little better, and the euro tumbled. Bond yields in Italy, one of Europe’s largest economies, surpassed 7 percent, approaching the level that had sent other euro zone nations to seek bailouts. Spanish and French bond yields also rose, amid fears that the contagion could spread further.



Read More:

http://www.nytimes.com/?emc=na (external - login to view)
 
Ocean Breeze
#54
U.S. National Debt Clock : Real Time (external - login to view)


USA debt clock.- self explanatory
 
Ocean Breeze
#55
Quote:

Stock markets soared on Wednesday after the U.S. Federal Reserve and other central banks unexpectedly announced a plan to make it cheaper for banks around the world to borrow U.S. dollars -- a staple of global financial transactions.



The aim was to not only lower the cost of short-term borrowing for troubled European banks, but also to keep the global economy out of an all-out credit crunch as in 2008.



The move gave investors hope -- at least for the day -- that world leaders would continue to take necessary steps to avoid a market paralysis stemming from Europe's government debt crisis.



The Dow Jones industrial average had its best day of 2011, rising more than 480 points, or more than 4%. The S&P 500 and Nasdaq composite also jumped more than 4% apiece.

source: CNN breaking news.
 
Ocean Breeze
#56
, Countries in the Red

HowStuffWorks "Top 10 Countries in the Red" (external - login to view)
 
damngrumpy
+1
#57
Cliffy has a point, they want people to suffer into submission. The problem is the people who
are in fact part of the problem, have no desire to be that patient. We are beginning to see the
first protests with both the Occupy Wall Street crowd and on the other end of the scale the
Tea Party. In the middle is the confuse majority. At some point civil disobedience will take the
place of suffering and the rising voices of discontent will consume those who had a desire to
dismantle the economy. The French Revolution came about from serious upheaval in the
economy, the Soviet Union was created out of economic and social oppression. The Second
World War was fought because the west needed to dig out from a full economic depression.
The economy factor could touch off the ugliest upheaval in society in two centuries and when
its over God knows who will bear the brunt of it.

For those who engage in such engineering they should heed the words of the late JFK.
He once said He who rides the back of the tiger ultimately ends up inside
 
Ocean Breeze
#58
Quote:

Beware The 'Student Debt Bomb', says New Report


The amount of student borrowing crossed the $100 billion threshold for the first time in 2010 and total outstanding loans exceeded $1 trillion for the first time in 2011, according to a new report.

Beware The 'Student Debt Bomb', says New Report | Common Dreams (external - login to view)


some mind numbing numbers.
 
L Gilbert
#59
Quote: Originally Posted by Ocean BreezeView Post

-----------------------------------------------------------------

CBS News: Breaking News Alert Sept. 2, 2011

-----------------------------------------------------------------



The jobless rate stayed at 9.1 percent in August with no net jobs added, the government reports.


source: CBS News alert mailing.



More on same from CNN:

The U.S. says the economy added no jobs in August, the worst number since September 2010. The jobless rate was unchanged at 9.1%.

While the number was partially distorted by a one-time quirk from more than 40,000 striking Verizon workers, it was still weak in comparison to job gains of about 200,000 a month earlier this year.

Economists typically estimate the nation needs to add about 150,000 jobs each month to keep up with population growth alone. It needs even stronger growth to recover the millions of jobs lost during the financial crisis.

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What's with the news about unemployment from August last year? This is 2012. U.S. Bureau of Labor Statistics
 
lone wolf
+2
#60  Top Rated Post
Um.... check the post date. Breezy likes to recycle....
 
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