The collapse of Eurozone

[EL34]

This is not about politics, it is about the world financial collapse
I don't get into politics and don't discuss politics


As I touched on in another post, the already in the works economic collapse is like a bunch of dominos
The first domino's have been toppled in Europe
The USA is in that Domino line because all the world's financial systems are interconnected.

Here's a great video of Nigel Farage who tells it like it is  
(Speaker: Nigel Farage MEP, Leader of the UK Independence Party)

Nigels great speech of his at European Parliament, Strasbourg, 13 June 2012

The Genius of Mutual Indebtedness - Nigel Farage

Economic collapse for Dummies video

Economic Collapse for Dummies

[birt]

i think there's more. there are some people who earn lots of money on the misery of others. these are the people who choose which countries will go down and as soon as Moody's or Standard & Poors name that country, it does. there's countries with far more depts but more power, so they will not be attacked financially. these people go for the easy money. Portugal, Ireland, Spain (but that didn't really work well), Greece and now Italy. They will not touch Germany or Great Britain who have serious depts. And they forget about American States, even if they are bankrupt. It's banks, big multinationals and rating agencies who control this filthy game and thrive on the misery of millions.

On a side note, Nigel Farage is also known as a man who likes to provoke and insult people.

you don't discuss politics but it is very very closely related.

[EL34]

On a side note, Nigel Farage is also known as a man who likes to provoke and insult people

I don't know anything about his politics, and don't care
To me Politics is almost the same as fake, ooops, I mean professional wrestling

I have seen several video intervews etc, and that is what I like about him
His no BS way of laying it all out without sugar coating things

They will not touch Germany or Great Britain who have serious depts. And they forget about American States

This thing is only just getting started, it is not over by a long shot
No one will go untouched

Hence, the economic collapse for dummies video shown above

[Fresh_Start]

There is one ENORMOUS domino missing from the second video:  CHINA.  

No one outside the ruling party really knows what is happening there, but there are strong indications of a very serious real estate bubble in China.  Their economic system makes our "crony capitalism" look positively transparent and stable.  If Spain's real estate bubble bursting makes you nervous, just try not to think about what happens when China's economy slows down and their real estate bubble bursts.  Who is going to bail out China? 

OH, and let's not forget that China owns a very significant percentage of our Treasury bonds which they will sell if they need cash.  That will lower demand for greenbacks and drive up our interest rates overnight.

And now back to our regular programming...

Chip

[EL34]

That would be the big domino after the US domino in the vid
China owns the USA

[cbass]

Geez you guys are making me depresed.In some ways I look forward to an economic meltdown our system is broken and needs to be redone from the ground up.SInce its not like the days in the revolution when citizens often had better weapons than the military.an economic colapse is the only way to have a revolution.

I agree with what you guys are saying mostly but there is one thing I don't think anyone has touched on ANd I'm  Not saying that this is the main reason for our economic problems but its still aproblem.
People wasting there money on technoloogy.Just think of all the money wasted on cell phones smart phones,internet,cable and on and on.My grandfather was able to save close to 200,000 dollars over his life working a  lowpaying job.There's no way he would have had that if he and his wife and kids all had cell phones and he had a cable bill to pay and internet bill and so on.

Now people are losing there homes but bygod they got the most expensive damn phone you can get.So does their wife and 2 little kids.

[EL34]

Not to say that the cell phone thing is unimportant, but the big picture is way more important.

Say you are on a train and the throttle is broken, and the train keeps accelerating.
The train is going to crash eventually, but when?

The government has removed all the safety features because they think they know how to run trains (and by the way they also know how to run markets).

There is a women (or man) on this train that knows the train is going to crash, she has been told the details of why it is going to crash.

The women (or man) is complaining that the lights are too bright in the cabin, the food was cold, the color of the walls are not nice, the guy on a cell phone next to them is talking too loud, etc....

What event is more important at this point on this train and which are silly things that don't matter?

[sluckey]

Time to trade in a pointy guitar for a weapon and a bucket of ammo. And a secret stump hole!

[tubeswell]

Well, like my granddad used to say - if you haven't got the money you can't spend it. IMHO bailing out the eurozone is just prolonging the inevitable (and even making it worse, because its chucking good money after bad). Once upon a time, if things were bad in europe, they emigrated. Now there's hardly any places to run to, what happens next?

[EL34]

This is just the early part of the party

Things have been leading up to this for several years and it's all beyond repair at this point
The banks will have to print money to privide a temporary fix, but that is not going to do anything at all to the big picture.

Europe is just the tip of the iceberg
All modern currencies use the dollar as the backing currency
The US is not exempt from bank runs and the general level of chaos we are seeing in Europe