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zinglicious
12-07-2011, 12:38 AM
First it was Greece that fell, now another EU member - Italy financial tanks - is Eurozone safe and would it be contagious and affect US and Asian markets?
http://www.reuters.com/article/2011/07/11/markets-europe-stocks-idUSL6E7IB1KZ20110711

Rhiga
12-07-2011, 11:58 AM
First it was Greece that fell, now another EU member - Italy financial tanks - is Eurozone safe and would it be contagious and affect US and Asian markets?
http://www.reuters.com/article/2011/07/11/markets-europe-stocks-idUSL6E7IB1KZ20110711

Zing, i doubt you wull get an answer from this forum..

Those who know won't be here in this forum... and if someone know or closer to know, he/she will be the next IMF/World Bank boss.. :D

From a very blur layman view, these countries in Eurozone (which they are not so supposed to be) deserve the fall. Their people are lazy, highly paid, short working hours and with the generous social net... it is just a matter of time for them to "pok kai"..

With the exception of Germany and UK (and to certain extent I will include France as well), other countries in the Eurozone are not there yet, and not fit to enjoy the common currency benefits...

Let them fall, and the reshuffle or economy takes places...

zinglicious
12-07-2011, 04:37 PM
I just got the answer from you!! :cool:
Anyway, the Asian markets seems to get bombed by this Italian tanks at mid day where the banking fiasco may be the tomato red sauce problem. http://biz.thestar.com.my/news/story.asp?file=/2011/7/12/business/20110712103827&sec=business

kuma
12-07-2011, 09:40 PM
Zing, i doubt you wull get an answer from this forum..



I must say....sometimes, I have to agree with you ;)

Though, I reserve any comment on the rest of your post:eek:

Zinglicious, if you keen to keep track of the $@#! in Europe right now.....follow Ambrose Evans-Pritchard of the Telegraph. His reports are well read by many 'Europe Watchers'

This is what he posted an hour ago.

Italy and Spain must pray for a miracle

Quote:
"If the ECB's Jean-Claude Trichet is right in claiming that Europe was on the brink of a 1930s financial cataclysm a year ago - and I think he is - it is hard see how the threat is any less serious right now."

Read Here (http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/8628939/Italy-and-Spain-must-pray-for-a-miracle.html)

USJ27Resident
12-07-2011, 10:55 PM
and when the banking goes KABOOM!! the average joe will have to sell (lelong) his assets and house coz the damn interests rates goes thru the roof....

whilst the filthy rich gets filthier... by buying up all the property and assets that is sold dirt cheap....

:rolleyes:

zinglicious
12-07-2011, 11:44 PM
When banks gets tanked, they get (A) 50/50 (B) call a political friend (c)multi choices lifelines (D) gets bailouts. :rolleyes:
When your house get busted, well, it gets lelong as bailout :eek:

Rhiga
13-07-2011, 10:46 AM
I must say....sometimes, I have to agree with you ;)

Though, I reserve any comment on the rest of your post:eek:




Sorry I let you in such a difficult situation that you have to agree with me. :eek: ... and thanks for reserving your comment on the rest of my posts ( I have one post less to reply ) :D

Well, you are one of those who spoke with substance, from economy to history, from finance to geopolitics.

Back to the thread..

It is obvious that the richer neighbours in EU (Germany and UK) have refused to offer any help anymore because it is a big black hole to fill.

As I said in my previous post, the workforce/people in Greece, Portugal, Hungary, Spain.. deserve what is going to happen to them. Just compare their working hours/productivity/salary with their counterparts in the East (Japan, Korea, PRC, India), they are just a bunch of people who had enjoyed good life too long and asking too much. In the area of industrial innovation and creativity, they are also far behind the countries in the Scandinavia and United States.

The only savior for them is PRC but nothing is free..

PRC just offered an undisclosed amount to buy the debt of Hungary when Wen JiaBao visited Hungary few weeks ago ( I think PRC is testing the response from EU). The ultimate aim for PRC is for EU to relax/remove the restriction of weapon/high-tech equipment sales to PRC then they will only offer a larger scale purchase of the debts..

No matter what, the EU crisis and the currently toothless US Federal Reserve have provided the “perfect ingrediet” for PRC to be the next superpower or en-route to be the next superpower…

kuma
13-07-2011, 11:14 AM
A global crash has been averted. At least for a day!!

Relief came just in the nick of time at 9.15 on Tuesday morning.....Read More (http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/8633441/Europe-steps-back-from-the-abyss-for-a-day.html)

zinglicious
13-07-2011, 01:59 PM
Thanks guys for the link especially Kuma on the Ambrose guy. Interesting.

They were like supermodels, overspent like crazy and then taking to streetwalking in a last ditch effort to prevent default. That's the analogy I can cook from the Italian tank and the Spanish fly dishes.

zinglicious
14-07-2011, 01:16 PM
Now the Madonna of the financial market is getting the mood down! http://www.themalaysianinsider.com/business/article/moodys-puts-us-ratings-on-review-for-downgrade/