The World Economics Thread

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Re: The World Economics Thread

Unread postby Dong Zhou » Sun Jul 10, 2011 7:49 pm

Lord Yang Jiahua wrote: Three i dont think the leaders of Europe are willing to burn there hands on the European hot potato, while looking relatively economically sound, only Gemany seems like it could help Greece and get away with it with out too much damage to its own financies in the process, so if anything they should be taking the lead on it....


Germany may be part of the problem as Merkel is 1) slowly losing her grip in Germany so she will be wary of using Germany to plug the gap, the rest of the EU and Euro will have to be involved. 2) She seems rather committed to the Euro staying together at all costs.

also the fact is that after a major disaster the Japanese have showed their ability to work together as a community and rebuild, versus America when such a disaster as Katrina struck the aftermath saw mass looting and virtual chaos, you dont see this in Japan after the earthquake and tsunami now do you?,


Depends who you ask, some say there was looting. It may well just be that the media haven't been reporting it and the nuclear factor may have had some effect.

Remember this is a Japan that has had major self inflicted problems in it's political system and seems to have had massive fraud in it's pension system. As in people being alive and pensions collected long after they were dead, which may be why there were thought to be a lot of old people in Japan.

Whatever Japan's considerable strengths, it has considerable flaws as well. Does leave me wondering, how good/bad Japan's finical situation is during this recession compounding a less then ideal finical situation and with the tragedy's this year.
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Re: The World Economics Thread

Unread postby Ranbir » Mon Jul 11, 2011 4:33 pm

As a % of GDP, Japan's debt is like over 200%. The managing is based on the people of Japan willing to buy government bonds. They are big BIG savers. Saving ratios are huge when compared to other debt countries. So they've coped for over a decade with such high debt and they're trying to deal with it but there are many things working against them. They've got an aging population and it is contracting in general. The economy as remained stagnant since the 80s. Government policies aren't aggressively willing to deal with deflationary pressures. They're a ticking time bomb.
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Re: The World Economics Thread

Unread postby Lord Yang Jiahua » Mon Jul 11, 2011 5:00 pm

Most recent news is Italy went bust on Friday now adding more problems to the Greece bailout, Italy has the highest unemployment of any Euro country, besides which one of the most stagnant governments in the World.
Thoughts?

Also if any country were to, which would or should take the lead in bailing out Greece?
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Re: The World Economics Thread

Unread postby Dong Zhou » Mon Jul 11, 2011 5:10 pm

Wait, Italy went bust? You got a new link on it?
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Re: The World Economics Thread

Unread postby LuXunMaster102 » Mon Jul 11, 2011 10:17 pm

Italy was bound to get drowned with debt problems. Remember PIIGS?
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Re: The World Economics Thread

Unread postby Dong Zhou » Tue Jul 12, 2011 6:34 am

I knew Italy was in a bad way (perhaps not quite Spain bad though), not that it was actually bust.
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Re: The World Economics Thread

Unread postby Lord Yang Jiahua » Wed Jul 13, 2011 4:04 pm

I got this off of those little NPR 7 minute blipnewscasts, their broadcast here in the U.S stated that Italy was right behind Greece in problems with the economy had the highest unemployment of any euro nation other than Greece, and is now a problem for the EU financial disccussions on Greece, this probably tells as to why they still havent done anything with Greece yet. The Stated something about them defaulting on Friday of last week, or at least running into serious problems. ill come back with a link.[urlhttp://www.cnbc.com/id/43721972][/url] One The Italy PM and his finance minister are squabbling....

Two mostly its because like Greece, Italy is having a hard time selling austerity to its people, so if basically the austerity currently proposed by the Italian government doesn't pass, its gonna lead to another situation like Greece....
They probably overblew the headlines on that newsblip, as they seem to be in many of the articles i saw.
Last edited by Lord Yang Jiahua on Wed Jul 13, 2011 4:13 pm, edited 1 time in total.
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Re: The World Economics Thread

Unread postby Dong Zhou » Wed Jul 13, 2011 4:11 pm

I had Italy down as behind Spain as the most vulnerable big/"we couldn't possibly hope to bail out this one country" but very vulnerable one none the less. Didn't realize it had moved up the list.
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Re: The World Economics Thread

Unread postby Lord Yang Jiahua » Wed Jul 13, 2011 4:15 pm

My link failed to copy properly , just type it, or go to CNBC ,...... Beruscloni or whatever his name is spelled has had that PM position for far too long, why doesnt he move aside and let someone else take the PM spot?
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Re: The World Economics Thread

Unread postby Dong Zhou » Wed Jul 13, 2011 4:51 pm

Because if he did, he would be prosecuted is my guess. That and power (plus influence that comes with it) is a powerful drug, you rarely see a leader step down of their own free will. The last British PM to leave office of his own free will was Harold Wilson in 1976, but that may have been due to the early signs of Alzheimer's, or Stanley Baldwin in 1937. What I more wonder is why Beruscloni kept winning elections, though his media empire certainly helped there. Could his opponents not find a man to effectively oppose him?
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