More Than 6 Million Californians – Over One-Third of Them Children – Lived in Poverty in 2010 (loans, shop)

[Vascodagama]

Originally Posted by nullgeo

Don ... last week you warned me / us all that on Friday (last Friday) the world was coming to an end ... I forgot which issue it was that you said would finally blow it all up but I think it had to do with financial disaster starting in Europe ... I marked my calendar ... noticed this morning that I was still here and Friday was gone ... kinda like the Rapture, I guess ... should I re-mark my calendar for when the checks will stop and the riots start? Give a date so I can plan ahead. 'preciate it.
thanks man,
yours truly,
Teddy K.

The EU is imploding ... don't you read world news? They have been kicking the can as long as possible but in the end it will collapse. When it does there will be domino impact that will reach our banks. What we are seeing everyday in the markets with huge swings is called the death dance. It will continue to do this until the collapse.

[user_id]

Europe will be just fine, its the bankers that you got to worry about.....

But maybe they should increase their potato chip production to keep people home like they do in the good olde United States of America.

[yeahthatguy]

Originally Posted by user_id

Europe will be just fine, its the bankers that you got to worry about.....

But maybe they should increase their potato chip production to keep people home like they do in the good olde United States of America.

^ Take note of this comment Don9 ... We will refer to it in the future as i have many of times when user_id makes his flowery predictions and turns up wrong.

B.T.W .. this just in :
7:04p
S&P downgrades Italy one notch to A
6:55p
S&P says outlook negative for Italy
6:55p
S&P lowers Italy's unsolicited rating to A/A-1
6:53p
Standard & Poor's cuts Italy's credit rating

7:07p
Euro drops to $1.3605 vs $1.3685 in late Mon trade

Currency has traded 80 pips on the news... U.S banks will be fine as we know to bail things out in the U.S ... The Europe on the other hand will probably need a lesson in how not to **** off markets .. In which case learn that the market will destroy far more wealth and tax revenue than any potential bail out costs. I feel the bailouts will come after a shot or two is fired ... But in the end, the European Union will dissolve to some degree.

Socialist land gets closer and closer to falling apart by the day. Rigid high input systems never stand the test of times as they are not adaptable to dynamic forces and periods w/ lessor input and change (all of which are a normal part of life).

[user_id]

Originally Posted by yeahthatguy

Socialist land gets closer and closer to falling apart by the day.

No it doesn't, one has to be careful to distinguish a nations financial sector from its real economy. Europe is having difficulties with the Euro-zone, not really the European union in general. This is a currency crisis and even if the Euro blows-up the European economy will still be there......

Now certainly the bankers, the rent-seeking rich, etc would love people to believe that the economy is in crisis....but it just ain't so.....

So yes, take note, there may be a financial crisis in Europe but at the end of the day the real economy will be fine. Europe, unlike the US, has and will continue to have an economy that is more oriented around people than a small elite.

[nullgeo]

Originally Posted by Don9

The EU is imploding ... don't you read world news? They have been kicking the can as long as possible but in the end it will collapse. When it does there will be domino impact that will reach our banks. What we are seeing everyday in the markets with huge swings is called the death dance. It will continue to do this until the collapse.

No, I don't ... I only know what you write, as I take it as gospel ... you have totally won me over ... your predictions over the years have run an unwavering groove in my psyche. Harold Camping's Rapture may have failed us all, but Donnie's Destiny with Doom is bound to come to fruition given the solid foundations for your beliefs!

[yeahthatguy]

Originally Posted by user_id

No it doesn't, one has to be careful to distinguish a nations financial sector from its real economy. Europe is having difficulties with the Euro-zone, not really the European union in general. This is a currency crisis and even if the Euro blows-up the European economy will still be there......

Now certainly the bankers, the rent-seeking rich, etc would love people to believe that the economy is in crisis....but it just ain't so.....

So yes, take note, there may be a financial crisis in Europe but at the end of the day the real economy will be fine. Europe, unlike the US, has and will continue to have an economy that is more oriented around people than a small elite.

I'm not even going to take much time to respond to this (as I have tons of other times on other threads except to say you wrong on almost every particular point)

> There are economic contractions/stagnation among almost all Eurozone members
> Spain's unemployment numbers are north of 16-18%
> For Greece's economy, 40% of its GDP is public sector and its woes stem from its lopsided economy not finance ...
> Portugal .. etc you name it face similar problems
> Germany and France hold a lot of the toxic paper of these eurozone members... and benefit greatly from the economic exchange between these members.. if these 'bad members' falter so will the titans germany/france .. This is in the general economy.. If finance fails in these bad members of the EU .. the financial failures will cascade right into Germany/France. (Thus, we I feel the ECB will print and bail.. Will probably take markets sending the overvalued currency to parity w/ the USD and other such scares (markets taking a 20% haircut and trillions in wealth wiped out and hundreds of billions in tax revenue) before the knuckleheads in germany/france get this)
> A great deal of tax revenue for the money hungry public sector in Europe comes from the rich oligarchs, bankers, dominant and very wealthy business owners, and high finance folks in Europe who own almost everything.. A great deal of the EU member's economies are dependent on the public sector 'that great social model'...

So, combined w/ general economic weakness, they enter into finance sector weakness which causes all sorts of interesting things to happen..

"Europe, unlike the US, has and will continue to have an economy that is more oriented around people than a small elite." <- LMFAO .. You must be kidding
Yeah, it's an economy oriented mostly around 'people' a service sector that serves the rich oligarchs...

[.highnlite]

Originally Posted by Don9

The EU is imploding ... don't you read world news? They have been kicking the can as long as possible but in the end it will collapse. When it does there will be domino impact that will reach our banks. What we are seeing everyday in the markets with huge swings is called the death dance. It will continue to do this until the collapse.

Shoot I hope I can still get my shirts, from that little shop on Boulevard Hauptman.

[Vascodagama]

Originally Posted by user_id

No it doesn't, one has to be careful to distinguish a nations financial sector from its real economy. Europe is having difficulties with the Euro-zone, not really the European union in general. This is a currency crisis and even if the Euro blows-up the European economy will still be there......

Now certainly the bankers, the rent-seeking rich, etc would love people to believe that the economy is in crisis....but it just ain't so.....

So yes, take note, there may be a financial crisis in Europe but at the end of the day the real economy will be fine. Europe, unlike the US, has and will continue to have an economy that is more oriented around people than a small elite.

By George I think you just topped your record for the most uninformed and downright ludicrous statement to date.

The Europeans states including Greece, Ireland, Spain and Portugal are experiencing a sovereign debt crisis.

Since you are a big kool-aid drinker maybe you would listen to one of Obama's cronies ...
Geithner: US has 'huge stake' in Euro crisis

[.highnlite]

Don, remember:

Everything you know is wrong
Black is white, up is down and short is long
And everything you thought was just so
Important doesn't matter

Everything you know is wrong
Just forget the words and sing along
All you need to understand is
Everything you know is wrong

[user_id]

Originally Posted by yeahthatguy

I'm not even going to take much time to respond to this...

And yet....you responded? Of course just be listing a bunch of bad sounding things instead of addressing the actual issue. Good job. I guess you missed the logic portion of your imaginary education at MIT...or wait was it CMU? Hard to keep up with the lies.

Originally Posted by yeahthatguy

Yeah, it's an economy oriented mostly around 'people' a service sector that serves the rich oligarchs...

Are you talking about the US? Because Europe has one of the best distributions of income in the world and has a ~$2 trillion export sector, indeed, the largest in the world.