Cyprus bail-out: savers will be raided to save euro in future crises, says EU chief
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morganist
To be fair the Germans do benefit from the Euro. See below.
http://morganisteconomics.blogspot.co.uk/2012/04/eurozone-is-polarised-economic-model.html
of course, how could I forget you. Your old and same (yet in way more intelligent) rational goes like this:
"We all live in the same neighborhood and all own real estate but because I and family never have learned good manners, we keep our house and surrounding yard in very bad shape. It is in fact so dirty and filthy that it attracts rats that run around the direct vicinity at night. And because such locations attract equally filthy people, next day a hooker and pimp set up shop right in front of our home to offer their ware to guys like you (who lives nearby in the same neighborhood). Now, you have an interest in selling your home but each time someone comes to visit and consider buying it, they drive by my home, see the filth, the hooker and pimp and either drop their interest or significantly lower their bid. Upset you move to law court to sue me for damages. In law court you argue that I cause the value of homes in the neighborhood to decrease. Clever as my lawyer is he has the argument thrown out of court that I am in any way responsible for the hooker and pimp. So all you end up with is rats and garbage lying around my yard. And for that you like to sue for damages worth 500,000 USD. You think anyone will follow your arguments?
I highly doubt it but if there are any then they may think Germany ows to its Southern neighbors. That is your whole argument, there is not more to that. Simple as that. And I find this one single argument incredibly weak because you omit all the other payments, all the other burdens that Germany has shouldered now for decades. You pick see some garbage lying around in the neighborhood and with your tunnel view ignore everything else around it and zero in on it, and conclude this garbage is what makes your life miserable, devalues your home, and thus the perpetrator must owe you. Funny economic analysis if you ask me. At the very least very shallow and unprofessional.
"We all live in the same neighborhood and all own real estate but because I and family never have learned good manners, we keep our house and surrounding yard in very bad shape. It is in fact so dirty and filthy that it attracts rats that run around the direct vicinity at night. And because such locations attract equally filthy people, next day a hooker and pimp set up shop right in front of our home to offer their ware to guys like you (who lives nearby in the same neighborhood). Now, you have an interest in selling your home but each time someone comes to visit and consider buying it, they drive by my home, see the filth, the hooker and pimp and either drop their interest or significantly lower their bid. Upset you move to law court to sue me for damages. In law court you argue that I cause the value of homes in the neighborhood to decrease. Clever as my lawyer is he has the argument thrown out of court that I am in any way responsible for the hooker and pimp. So all you end up with is rats and garbage lying around my yard. And for that you like to sue for damages worth 500,000 USD. You think anyone will follow your arguments?
I highly doubt it but if there are any then they may think Germany ows to its Southern neighbors. That is your whole argument, there is not more to that. Simple as that. And I find this one single argument incredibly weak because you omit all the other payments, all the other burdens that Germany has shouldered now for decades. You pick see some garbage lying around in the neighborhood and with your tunnel view ignore everything else around it and zero in on it, and conclude this garbage is what makes your life miserable, devalues your home, and thus the perpetrator must owe you. Funny economic analysis if you ask me. At the very least very shallow and unprofessional.
again, you have a temper. probably you had it in childhood.
http://www.youtube.com/watch?v=OSl4mFw4GDo&feature=youtu.be
The collapse and end of the Euro is an anglo saxon fantasy unlikely to happen. Europe will muddle through the crisis but it will probably be a lost decade japan style, worse in terms of employment and standard of living.
The rich and famous are just as clueless as the average investor when it comes to make good investment decisions in this environment. They however have one luxury : enough to spend and have a good life.
Instead of thinking about the best store of value maybe you should just do the same to some extent and enjoy life spending the money you (still) have. When you spend money on what really counts for you that's also value.
The rich and famous are just as clueless as the average investor when it comes to make good investment decisions in this environment. They however have one luxury : enough to spend and have a good life.
Instead of thinking about the best store of value maybe you should just do the same to some extent and enjoy life spending the money you (still) have. When you spend money on what really counts for you that's also value.
I remember having heard the same bickering by American trader colleagues, MDs among them, while I was working for a prop group within an US investment bank. They all declared the EUR a failure and dead. Since then some left (like me), worked for other hedge funds and banks and especially the MD level fx guy was subsequently let go twice by different hedge funds, the guy who steadfastly believed the Eur was doomed. To be fair to him this specific belief was not the main reason of his having gotten fired but I just found it interesting how even industry veterans are sometimes married to political and fundamental views although they should know better.