Global Economy Bursting?

[Terrel L. Shields]

We've sold them mineral rights already

But we sold the Rockefeller Center to the Japanese and we sold half of Houston to the Saudi's ....

 

[Riick]

Here is the best explanation of QE 2 and why we have to do it.
http://www.youtube.com/watch?feature=player_embedded&v=PTUY16CkS-k

That video has REALLY gone viral. I got it in an email on Thursday IIRC.
BTW "The Bernacke" published a paper several years ago, showing that QE will not necessarily work.
He is hoping he was wrong, and we get to be the laboratory rats.
.

 

[Randolph Kinney]

Portuguese Foreign Minister Says Country May Need To Leave Euro

Read more: http://www.businessinsider.com/port...-may-need-to-leave-euro-2010-11#ixzz15MD1qmVN

The unraveling of the Euro is beginning with Portugal and Ireland. Just imagine when the actual default occurs, will the ECB jump in to bail them out, again?

Greece can't meet the plan by spending cuts and is still on path to restructure its debt.

 

[Restrain]

Japan tried this and we can all see where that ended up. I hate to agree with a cartoon character but the only people that will benefit are the banks making the money through the Fed and the banks making the money selling the notes to the Fed. The rest of us keep going down....and down....

 

[Austin]

Cracks are spreading. Once she cracks the whole house will come tumbling down. The global economy is teetering on the ragged edge. Looks like Europe is where the break will come. The Luck of The Irish just ran out.


IRELAND ON THE BRINK...
...TOLD TO TAKE EU BAILOUT
PORTUGAL HITS PANIC BUTTON...
GREECE: DEFICIT MUCH BIGGER THAN ESTIMATED...
...LASHES OUT AT GERMANY

 

[Restrain]

Just a thought about the Euro. It never had any real backing, just a concocted currency. Germany can just as easily go back to the Mark and probably be better off financially. France, did anyone ever care about the franc?

 

[Randolph Kinney]

Europe Fears That Debt Crisis Is Ready to Spread

http://www.nytimes.com/2010/11/16/business/global/16euro.html?_r=1&nl=todaysheadlines&emc=a2

New rescue plan must cover Portugal as well as Ireland. DUH?

With economic conditions weakening, markets are once again in turmoil. Rescuing Ireland may no longer be enough.

 

[Randolph Kinney]

Asian markets plummeted in overnight trading, with the Shanghai Composite down 3.98%. Major European indices are much lower this morning, and U.S. futures suggest a negative open.

The overnight selloff in Chinese shares was spurred on by a report that food price inflation is rampant in China and that the government will be forced to tighten monetary policy. In the first 10 days of November, a basket of 18 vegetables rose 62.4% year-over-year in price.

 

[Austin]

This reminds me of the public government schools. The government schools want to be all inclusive so they mix the classes with all races, groups and sexes on that basis instead of placing students in classes based on their individual achievement abilities. The result is just what a sane person would expect. Everything is reduced to the level of the weakest in the class because the lowest sets the pace. I have an old farmer friend and we were discussing this once. He told me that if you put a monkey in the room with a genius and left them there for a while, when you return you won't have two geniuses, you will have two monkeys.
The same goes for economic unions. The entire union is being pulled down to the level of the weakest element. The liberal western democracies have a strange moral code. Under this code everything is geared to suit the weakest and it is considered immoral to reward the strongest. Anyone that sees it differently is labeled intolerant. What you get from this is exactly what we are getting-economic collapse of the western democracies led by the demise of the weakest states in the union. My dad told me once: "There is no force in the world strong enough to hold a good man down or a weak man up."

 

[Riick]

This reminds me of the public government schools. ...they mix the classes ...
instead of placing students in classes based on their ... abilities.
The result is .... Everything is reduced to the level of the weakest in the class because the lowest sets the pace. <<snipped>>

Gresham's law is usually stated as: "Bad money drives out good."
This also also works for teaching, government, and .... appraising!
Skippy is doing quite well, thank you!.

BTW.. Per Wikipedia, Gresham's Law is better stated as:
Bad money drives out good - if their exchange rate is set by law.

Thus, all licensed &/or certified appraisers are equal - under the law, and in the eyes of you local friendly AMC

Interestingly, prior to licensing, if you wanted to be known to be knowledgable and a quality appraiser,
you sat down and got yourself a Designation from the Society, Institute, IFA or ASA.
The continuing education required under the 5 year cycles lead you to learn new techniques, new understandings.
Under the Gubment / ASC.... lowest common denominator CE.
Bad education & educational providers drive out good ones, if each is equal under the law.

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