Turmoil on the global markets!

[Morpheus]

There has been huge turmoil on the global stock exchange over the last 24 hours. There are on-going concerns about the U.S. debt crisis. And likewise across Europe there are fears that Spain and Italy (the 3^rd and 4^th biggest economies in Europe) may become insolvent!

For the past year, I have been very concerned about Ireland’s plight with regards to our sovereign and bank debt and international credit rating.

However, for once, I am now calm and very optimistic about our future. We have been the pariahs of Europe (only outdone by Greece). We’ve been given a good caning by the EU, ECB and IMF. We’ve been thrown some money and told we’re going to have to pay it all back with significant interest (so that the people who loaned us the money will make a good profit). And no one ever believed that we could fully pay back our loans.

So the reason for my smug calmness – is the knowledge that we are now not alone. The major powers in the world are in the same septic pool. And now no one is talking about Ireland anymore.

And I believe that the U.S. and European economies as a whole are too big to be allowed to fail! I appreciate that this is worrying and that world leaders don’t seem to know what to do. But they will have to do something. Clearly life in the West is not going to be the same. We will have to learn to live more simply as many of our fellow men around the world.

But this is something that will affect all and not just imposed on Ireland. I am no economist and may be talking through my hat, but I’m sure no economist has a crystal ball either. So tonight I am going to sleep in peace. While world leaders cancel holiday plans and get cracking on reorganising the world economy.

Feel free to have your say gentlemen.

And ladies – do behave! Nicole has promised to spank your bottoms if you don’t behave! (On second thought please do misbehave!)

[Rodney69]

oh no Morph, what can of worms have you started this time .....lol

it does seem like our Government is the only one prepared to squeeze the shit out of us, the tax payers for years on end to solve the problem

[bhoywonder]

should be good fun if the currency collapses. we'll all have to go back to bartering. can you imagine going punting then??

[dr love]

Well said morph , and to think it would only take a few trillion to sort it out , .
I trillion = I thousand billion , christ the mind boggles with such figures .: doc

[bhoywonder]

Well said morph , and to think it would only take a few trillion to sort it out , .
I trillion = I thousand billion , christ the mind boggles with such figures .: doc

the chiniese better start savign a few more pennies everyday. should have the crises sorted in no time

[Morpheus]

should be good fun if the currency collapses. we'll all have to go back to bartering. can you imagine going punting then??

Oh yes Bhoywonder, that will be fun! We will have to back to the old days! I wonder how much a live sheep or goat will get me in punting terms! 30 minutes or 1 hour!!!

[dr love]

the chiniese better start savign a few more pennies everyday. should have the crises sorted in no time

Well they have the population .: lol

[Morpheus]

the chiniese better start savign a few more pennies everyday. should have the crises sorted in no time

I was wondering about that Bhoywonder? Whether China and India wil take over as the large economies and essentially become "the West"? And whether the Western word wil become "the third world"!

However, i don't think this will happen. Purely because both China and India are hugely dependant on the West for trade. Their major export markets are in the Western world. Also China is one of the largest U.S. bond holders. So this U.S./ European crisis will affect China's and India's ecnomies as well.

Which I think is a good thing for us - as again everyone in the world will be affected. I think eventually there will be both a devaluing of all major curencies and a decrease in inflation. So while our money will be worth less, everything will cost less.

The only spanner in the works - are those oil producing kartels , err.. I mean oil producing countries. Because they could choose to take advantage at a time like this.

[SR71]

I was wondering about that Bhoywonder? Whether China and India wil take over as the large economies and essentially become "the West"? And whether the Western word wil become "the third world"!

However, i don't think this will happen. Purely because both China and India are hugely dependant on the West for trade. Their major export markets are in the Western world. Also China is one of the largest U.S. bond holders. So this U.S./ European crisis will affect China's and India's ecnomies as well.

Which I think is a good thing for us - as again everyone in the world will be affected. I think eventually there will be both a devaluing of all major curencies and a decrease in inflation. So while our money will be worth less, everything will cost less.

The only spanner in the works - are those oil producing kartels , err.. I mean oil producing countries. Because they could choose to take advantage at a time like this.

Men! the time for us to pay back the loan starts in 2014, I dont know the figures for it. But do you think we can really pay it back? Look at the way the schools and hospitals are at the moment. Money has to go into those two, if not whats the point of having a country, just to squeeze the weak is it? I think come autumn and winter, its going to get worse,money wise!

Only people who will benefit from all this is the speculators and stockbrokers, those cunts are the problem, if you are one of them, reading this, please note : EVERYTHING IS A COMPLETE CIRCLE, IT WILL COME BACK TO YOU AS WELL!!! Oh and OPEC, you jammy b****ds, stop lying and flood the markets with oil,so that we don't need to pay these ridiculous prices!!!

[ber]

The truth is the whole thing involving debt is a house of cards. The truth is the whole world is insolvent. If world debt was
called in it could not be met. We have set up a kinda ficticious system with bonds etc being issued for 10 ,20 ,30 years
and nothing solvent to back them. The amount of debt issued could never be met. Did anyone ever stop for a minute to
think who this money is owed to? everybody owes money so who is lending it? the answer is everybody is lending it by
issuing pieces of paper. The situation is so farcical that if u get down to the nitty gritty in reality its just a lot of numbers
flying around which are manipulated to suit the whim of the day. It has as good as been admitted that debt can never be
paid only restructured, in otherwards u get more debt to pay the existing debt and on and on and round and round we go.
If the merry go round were ever to stop the whole world would come crashing down and that is simply why it cant and wont
be allowed to stop.