Posted on 10/10/2008 9:12:38 AM PDT by Danae
Italian Prime Minister Berlusconi said political leaders discussing idea of closing world's financial markets while they 'rewrite the rules of international finance'... MORE
Nothing follows. I can't get to the Bloomberg story its getting hammered.
This is huge and series. Load your shotguns folks.
Wow! Howdy, neighbor!
The problem here is that the markets aren’t working.
The debt market is frozen, and when that is frozen, every other market is being sold and sold hard to raise cash.
The EU zone has an additional problem in that they have no clue how to respond to this. They’ve created the EU/Euro, but they’re now learning that without a single nation under their currency and banking system, they don’t have a coherent response to this crisis.
So from the European perspective, it would make a lot of sense for them to close their equity and commodity markets while they:
a) formulate a EU/Euro response to the banking crisis, rather than continue to have individual nations do one-offs,
b) get the credit markets in the EU cleaned up and the banking issues straightened out
before they melt down their equity/commodity markets because they don’t have a plan worthy of the noun at the ECB or Euro level.
They’re learning, the hard way, that they didn’t think this “euro” thing out all the way... they’ve over-reached what should have been simply a single common trade market into a common currency and regulator apparatus, without realizing the banking systems are still geared to individual nations. As soon as there was any banking crisis that hit more than one country at a time, this was going to happen to them - with or without the US as a factor.
(Keep it to yourself, but part of my plan would ensure Northeastern Nevada becomes a world financial empire since we have all the gold). Shhh!
“It’s coming and I got peanut butter!”
BUY! BUY! BUY! ...(at least a month’s worth.)
Jesus Christ, Folks....
Democrat Party Mortgage Corruption and vote-buying is on the verge of Bankrupting THE ENTIRE PLANET now!!
IS there NO ONE in the American Media (other than Rush) with the stones to shout this from the rooftops???
I’m not kidding you. I’m reading the words of the Declaration of Independence with tears in my eyes. I have failed my ancestors.
You know this carries about as much weight as the 10 Commandments these days...right? Both are gone, kicked out, not revelent to this time, old fashioned, a stumbling block. Watching my country die is heartbreaking....what a wonderful nation we have been.
A "big picture" long-term solution... good thinking!!
NO..you didn’t fail your ancestors...elected officials that WE the people trusted...failed US.
Who do you think will get wiped out in a global financial restructuring? The American middle class or the global financial interests?
“We defeated the Soviet Union. Then we became them”
It seems that every generation, or so, we need a PAINFUL and deadly reminder of just how bad Socialism really is....
Maybe this whole fiasco better explains the Old Testament requirement of nullifying all debts every 49 years.
I agree, thats what happens when a currency isn’t pegged to a commodity.
Dow’s down to 8150 and dropping like Britney Spears’ panties (if she’s wearing any).
For some reason, I’m hearing “Helluva job you’re doin’, Brownie” echoing in my head...
}:-)4
“IS there NO ONE in the American Media (other than Rush) with the stones to shout this from the rooftops???
Why should they shout. The Left and its mouthpiece WANT socialism to crush capitalism. They killed us from within.
“and cast all calories out of chocolate cake!”
On this news, I think I WILL go eat chocolate, calories and all.
Daniel 11:32
“With flattery he will corrupt those who have violated the covenant, but the people who know their God will firmly resist him.”
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