What is going on in Europe?

[sylvie]

Plan B ????
If propping up the British currency by swelling the monetary base 35% doesn't work they will need to work on some really fancy dance moves . . .

http://www.moneyweek.com/news-and-charts/economics/bernanke-and-kings-plan-b-14621.aspx

 

[Wifezilla]

Plan B? I thought they were on Plan Q-16 by now

 

[On Our own]

I think the truth is only to be found by gathering as much information as you can and sifting through it using critical thinking skills rather than cherry picking the data that matches your preconceived ideas.

Like today I heard a guy on CNBC going on and on about how if you extended unemployment benefits IN THIS MARKET people would become lazy and not look for work until the money ran out.

To me this simply shows me how incredibly out of touch these people are from those of us who are struggling to make ends meet.

Why do we need to always assume the worst of the "other" guy where it involves helping him and assume the best of him when we give him the ability to run our businesses? Poor people are inherently lazy and greedy and wealthy people will always do what is best for society. BULL!

 

[Big Daddy]

Sounds like FOX has got ya covered.

And CNN, MSNBC, ABC, CBS, NBC, and the BBC have you covered

Actually I don't listen to them. I find them to be too conservative.

 

[Big Daddy]

I think the truth is only to be found by gathering as much information as you can and sifting through it using critical thinking skills rather than cherry picking the data that matches your preconceived ideas.

Like today I heard a guy on CNBC going on and on about how if you extended unemployment benefits IN THIS MARKET people would become lazy and not look for work until the money ran out.

To me this simply shows me how incredibly out of touch these people are from those of us who are struggling to make ends meet.

Why do we need to always assume the worst of the "other" guy where it involves helping him and assume the best of him when we give him the ability to run our businesses? Poor people are inherently lazy and greedy and wealthy people will always do what is best for society. BULL!

True, very true.

As the bumper sticker says. THINK FOR YOURSELF.

 

[On Our own]

This is what I got today:

directly imported from the second page of an article in the Wall Street Journal article yesterday, 2/17/09:

Economic crisis
A slew of economic data out recently has highlighted the depth of the crisis facing Eastern Europe, with Estonia last week reporting a 9.4% plunge in GDP in the fourth quarter of 2008.
Data out this week included a 2.9% year-on-year drop in Czech retail sales and a 34.1% year-on-year drop in Ukrainian industrial production.
"The countries are in a difficult situation. Therefore a strong increase of loan losses seems inevitable. The main risk is that a lot of borrowers were tempted to lend in currencies such as the Swiss franc and the euro because interest rates were much lower and now repaying these loans is very difficult," noted Christoph Bossman, banking analyst at WestLB.
The report from Moody's was also published in the midst of the European bank earnings season, which is generally showing lenders already struggling with write-downs on other investments.
Societe Generale reports fourth-quarter earnings on Wednesday and analysts at Deutsche Bank said that they will be focusing on bad debt charges and the outlook.
"While a cash dividend would be good news for investors, the option of a scrip dividend is likely under consideration as the tier 1 ratio is suffering from depleted earnings and the impact of credit rating migration," the analysts said.
"The fourth quarter should also show the first signs of sharp credit-quality deterioration, especially in Eastern Europe," they added.
Societe Generale bought the Czech Republic's Komercni Banka (UK:KMCA: news , chart , profile ) in 2001. It's also a major shareholder in Russia's Rosbank.
"I think that they will try and touch on this topic. I think that the concerns will not go away and risk provisioning is a topic the banks have to deal with in the coming quarters," noted Bossman at WestLB.
Around 11% of Societe Generale's loan book is in CEE countries, he noted.

 

[sylvie]

Where to hide the money now?
The end of the secret Swiss Bank accounts as we know them because the UBS is naming American names. IRS has accused UBS of conspiring with wealthy Americans to conceal billions to evade taxes.

http://www.iht.com/articles/2009/02/19/business/ubs.php

 

[Wifezilla]

I guess the Caman Islands are about to get a boost in customers

 

[On Our own]

Word has it that Antigua cannot land the private jets fast enough - too late the Sanford accounts are all frozen.

Funny thing the lights are on the cockroaches are scattering and the things hiding under all the rocks are slithering out into view.

Stock up, we're taking on water and there aren't enough life boats.

 

[SKR8PN]

I guess the Caman Islands are about to get a boost in customers

Might be some pretty big mattress's to found in the near future.....