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2008-10-06 Europe

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Posted by Steve White 2008-10-06 00:00|| || Front Page|| [3 views ] Top

#1 ION BRITAIN: CASH-STRAPPED NAVY TO CUT HALF OF DESTROYER FLEET; + TERROR THREAT [incl. Al Qaeda]TO UK APPROACHING CRITICAL ["severe end of severe"]; + Over 75,000 BRITS MAY DIE FROM FLU OUTBREAK.

Compare last wid CHINA > MILLIONS TO DIE FROM LUNG DISEASE.

Posted by JosephMendiola 2008-10-06 00:13|| 2008-10-06 00:13|| Front Page Top

#2 OOOPSIES, forgot THE NEXT ECONOMIC DOMINO TO FALL IS EUROPE; + THE BAILOUT CRSIS: THE END OF DEMOCRACY [in Amerika].

Posted by JosephMendiola 2008-10-06 00:16|| 2008-10-06 00:16|| Front Page Top

#3 "The euro zone is the second domino of the globe to be falling over after the U.S."

The US stumbled. The Euros are falling. As Richard Fernandez reminds us of Samuel Johnson's quote "the prospect of hanging focuses the mind wonderfully" this morning, the markets are becoming focused upon security rather speculation. The underlying fundamentals become important in determining where to harbor your resources.

Posted by Procopius2k 2008-10-06 08:03|| 2008-10-06 08:03|| Front Page Top

#4 I wonder, if Europe plunges into a deep recession, if they can keep their socialist lifestyle? And if not, how bad would the riots and civil unrest be?

Maybe some of our European 'burgers could expand on these ideas.

Posted by DarthVader 2008-10-06 09:42|| 2008-10-06 09:42|| Front Page Top

#5 Euro banks are much more highly leveraged than US.

Posted by Nimble Spemble 2008-10-06 09:52|| 2008-10-06 09:52|| Front Page Top

#6 The US Fed has been injecting $ into Euro banks. Also I read somewhere that most of the $85B US Treasury loan to AIG went to pay off European companies.

Posted by ed 2008-10-06 10:19|| 2008-10-06 10:19|| Front Page Top

#7 And if not, how bad would the riots and civil unrest be?

If France was a precursor, I'd dump any stock dealing in auto insurance.

Posted by Procopius2k 2008-10-06 10:21|| 2008-10-06 10:21|| Front Page Top

#8 I wonder, if Europe plunges into a deep recession, if they can keep their socialist lifestyle?

Or their quite generous welfare programs for immigrants.

Posted by lotp 2008-10-06 11:05|| 2008-10-06 11:05|| Front Page Top

#9 At least we won't have to worry about cutting defence to the point where they are defenceless.

Posted by Nimble Spemble 2008-10-06 11:37|| 2008-10-06 11:37|| Front Page Top

#10 For years the market tracked surprisingly closely with the Euro to Yen value. When the Euro strengthened against the Yen, the market went up and vv. Luckily for us, the market has divorced itself from that trend.

Posted by Mike N. 2008-10-06 11:39|| 2008-10-06 11:39|| Front Page Top

#11 NS wins the Silver Lining award of the day. ;-)

Posted by lotp 2008-10-06 13:18|| 2008-10-06 13:18|| Front Page Top

#12 Firstly let me say I know nothing about economics or finance...but I keep hearing people say that the problems in Europe are due to the 'trouble the Americans got us all into'. Isn't our (I'm Canadian so by 'our' I mean Canada's) economy more entwined with the US than most others? If the American financial crisis is the cause of Europe's banks failing then why are the Canadian banks doing OK? As far as I know we have had none of them fail. Am I off the ball here?

Posted by Chemist 2008-10-06 21:44|| 2008-10-06 21:44|| Front Page Top

#13 Nope, Chemist. You're dead on. The European banks are in serious trouble for two reasons. First, they skirted around their regulatory capital requirements, primarily through arrangements insured by AIG. Second, the European Central Bank *raised* interest rates as liquidity began seriously drying up. Perverse ideologically-rigid stupidity on their part.

So when the sub-prime mortgages started having trouble, the European house of banking cards was much more rickety than that of the US and Canada.

Posted by lotp 2008-10-06 21:49|| 2008-10-06 21:49|| Front Page Top

23:25 GK
23:07 Thurong Mussolini2697
22:58 Barbara Skolaut
22:50 Jolutch Mussolini7800
22:44 Old Patriot
22:37 Yosemite Sam
22:28 crosspatch
22:25 Procopius2k
22:21 Besoeker
22:18 Tranquil Mechanical Yeti
22:10 Scribimus indocti
22:07 Spanky Spinetch9985
22:07 Spanky Spinetch9985
22:07 Besoeker
22:06 Ricky bin Ricardo (Abu Babaloo)
22:02 lotp
21:58 Scribimus indocti
21:56 Zhang Fei
21:50 Besoeker
21:49 lotp
21:46 Besoeker
21:44 Chemist
21:44 Besoeker
21:42 lotp