woolley Posted July 13, 2015 Share Posted July 13, 2015 This Chinese stock market is a completely internal thing. It also rose 80% in the past year which you didn't hear about, before correcting itself. It's a complete speculators game - you thought our stock market was bad with P/E not matching the share price sometimes? This is far far far worse with little regulation. World economy is relatively "fine" - just not much growth atm. As for running out of gas, fuel prices are so low because we have the opposite. Exactly, don't pay too much attention to China's markets. The UK is bopping along nicely thank-you. Slowly, steadily in the right direction. Er. Downward into more and more debt? Have you seen how fast that debt is growing? Frightening. All they've done up to now is slow the rate of descent slightly. Link to comment Share on other sites More sharing options...
quilp Posted July 13, 2015 Share Posted July 13, 2015 It is only due to the enormous conceit of the Euro hierarchy that the situation has gone on for so long. The only way Greece can pay its debts to the rest of Europe and the IMF is if the rest of Europe and the IMF give it the money to do so. It has been that way for years and there is no end in sight. Give them 5 billion now and they will need 15 billion in six months. So the question is, what is the point of the charade? Who is it serving to prolong the agony that is Greece in the flawed Euro? Another 11.99th hour drama then kick it down the road again on Tuesday at the cost of more billions to the taxpayer. What's the betting? The Euro supremos are too arrogant to let their crazy project fail. Another 11.99th hour drama then kick it down the road again on Tuesday at the cost of more billions to the taxpayer. What's the betting? The Euro supremos are too arrogant to let their crazy project fail. A few days back, I would have agreed 100%. The messages that the Eurogroup are now sending seem to suggest that they have an overriding political agenda that Syriza should not be seen to succeed, and if that means a Greek exit from the euro, they will live with that. Equivalent parties to Syriza , like Podemos in Spain, stand to do well in forthcoming general elections, especially if the electorates perceive that Syriza achieved something worthwhile. The ECB decision of whether to continue pumping money into the Greek banking system will be telling. If they pull the plug, then Greece has few options and the only way to rescue any kind of internal economy might well be to start printing Drachma pretty damn quick. Internationally, good luck to them buying oil with Drachma. Knowing this lot, I still think it's a decent bet that it'll get kicked down the road yet again. Greek banks stay shut all week and limit withdrawals. Capital controls imposed. Referendum on Sunday. Further negotiations after the referendum result is know leading to yet another fudge and billions more down the same drain. As much as I disapprove of the way Greece has turned into a socialist nightmare the fact they are using democracy against bureaucracy needs to applauded. Very true, but it is telling that they are only using it because they are between a rock and a hard place and have absolutely nowhere else to run. And I STILL think it'll all be cobbled together yet again and kicked down the road. Unless the Greeks return a resounding no in the vote. You all seem to think it's over and the Greeks are out of the Euro. I am not so sure. The Euro project fanatics are mad enough to continue talking with Greece about this no matter how much it costs their taxpayers, and no matter how much their credibility is shot through with the rest of the PIGS. Tsipras knows this and he's been playing them all along. They would do a deal despite the obvious disaster looming further down the road. Voila. Even though they DID vote no. I rest my case. Gloat quote ... Link to comment Share on other sites More sharing options...
woolley Posted July 13, 2015 Share Posted July 13, 2015 Very good. Sharp as a kipper. Link to comment Share on other sites More sharing options...
Lxxx Posted July 13, 2015 Share Posted July 13, 2015 This Chinese stock market is a completely internal thing. It also rose 80% in the past year which you didn't hear about, before correcting itself. It's a complete speculators game - you thought our stock market was bad with P/E not matching the share price sometimes? This is far far far worse with little regulation. World economy is relatively "fine" - just not much growth atm. As for running out of gas, fuel prices are so low because we have the opposite. Exactly, don't pay too much attention to China's markets. The UK is bopping along nicely thank-you. Slowly, steadily in the right direction. No it's not. Debt is rising at a faster rate than under Labour, Europe is imploding, China has had a huge correction, the only thing holding up the world economy at the moment is the US and their markets are only rising as FATCA is sending money flowing back there from around the world and most of the big firms are buying back their own stock as they are sat on piles of cash that they don't know what to do with. Global liquidity is collapsing unfortunately as governments in the western world hunt for cash to maintain their failing socialist models. The Isle of Man is just a small example of it. Link to comment Share on other sites More sharing options...
GD4ELI Posted July 13, 2015 Share Posted July 13, 2015 Time to invest in tin foil? Link to comment Share on other sites More sharing options...
woolley Posted July 13, 2015 Share Posted July 13, 2015 Time to invest in tin foil? No point. When you lot go down you'll drag us with you. Link to comment Share on other sites More sharing options...
GD4ELI Posted July 13, 2015 Share Posted July 13, 2015 Time to invest in tin foil? No point. When you lot go down you'll drag us with you. We'll sell you lot at a car boot sale before that happens Link to comment Share on other sites More sharing options...
Lxxx Posted July 13, 2015 Share Posted July 13, 2015 Time to invest in tin foil? The IMF have been banging on about this for the past few months in their reports. Not my words. Link to comment Share on other sites More sharing options...
Amadeus Posted July 13, 2015 Share Posted July 13, 2015 Whatever they do, just get on with opening the banks. Getting a bit annoying now. Link to comment Share on other sites More sharing options...
Albert Tatlock Posted July 13, 2015 Share Posted July 13, 2015 Whatever they do, just get on with opening the banks. Getting a bit annoying now.If you've €50 in your account...you could buy your own Greek bank. Link to comment Share on other sites More sharing options...
Bobbie Bobster Posted July 13, 2015 Share Posted July 13, 2015 The IMF have been banging on about this for the past few months in their reports. Not my words. To be fair, you've been banging on about global financial collpase for a lot longer than that... Link to comment Share on other sites More sharing options...
Tarne Posted July 13, 2015 Share Posted July 13, 2015 Whatever they do, just get on with opening the banks. Getting a bit annoying now. I believe it'll take a few more days just to pass the laws before they open the banks up again, as there's still a (abeit small) chance it could still go pear shaped. Link to comment Share on other sites More sharing options...
Albert Tatlock Posted July 13, 2015 Share Posted July 13, 2015 It's also likely, two of the four main banks in Greece will be shut down. Link to comment Share on other sites More sharing options...
spook Posted July 13, 2015 Share Posted July 13, 2015 Thankfully we now have a government that has started to restore sanity by reducing the unearned unjustified standard of living by the people who do not EARN the wherewithal to pay for the living standards that they want we will see the continued borrowing cease to be needed, our imports bills reduced, and we can start to repay national debt which the magnificent Margaret Thatcher achieved. Link to comment Share on other sites More sharing options...
notwell Posted July 13, 2015 Share Posted July 13, 2015 Whatever they do, just get on with opening the banks. Getting a bit annoying now. I believe it'll take a few more days just to pass the laws before they open the banks up again, as there's still a (abeit small) chance it could still go pear shaped. No chance. It's a done deal. All that means is that we delay the inevitable for another 6 - 12 months when they can't repay again. Unreal carry on. They should just hoof Greece out. Link to comment Share on other sites More sharing options...
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