That was a great read and backs up my O.P in regards the bankers creation of unsustainable credit (debt) will be the cause of any downturns, not Brexit.
Charlie Sheen wrote:Here's a very interesting read...
That was a great read and backs up my O.P in regards the bankers creation of unsustainable credit (debt) will be the cause of any downturns, not Brexit.
"If the American people knew tonight, exactly how the monetary and banking system worked, there would be a revolution before tomorrow morning."
-Abraham Lincoln
Post subject: Re: Will Brexit Be Blamed For Any Coming Economic Crisis?
Posted: Sat Jul 09, 2016 5:36 pm
Backwoodsman
International Star
Joined: Aug 09 2011 Posts: 1906 Location: Deepest North Yorkshire Woodland
In the next few months the EU face a massive problem with the Italian banks. They have billions of euros of bad debt, some of this was left over from the last banking trauma. We live in extremely interesting but frightening times. Lots of financial and political commentators have pontificated over our EU exit. My main concern is we are in uncharted waters, so we certainly have no previous experience of any outcomes. I voted to remain, as I suspected it's already costing me a great deal of money. I visit the USA several times a year to visit my family. I am in the USA at the moment the exchange rate is the worst I have ever experienced. Also my retirement investments are mostly in industrial property this value has dropped substantially. I can't even hold the main culprits to account, Johnson and Farrage have walked away from the mess they have created .
Post subject: Re: Will Brexit Be Blamed For Any Coming Economic Crisis?
Posted: Sat Jul 09, 2016 5:54 pm
GUBRATS
Club Captain
Joined: Mar 08 2016 Posts: 2418
Backwoodsman wrote:In the next few months the EU face a massive problem with the Italian banks. They have billions of euros of bad debt, some of this was left over from the last banking trauma. We live in extremely interesting but frightening times. Lots of financial and political commentators have pontificated over our EU exit. My main concern is we are in uncharted waters, so we certainly have no previous experience of any outcomes. I voted to remain, as I suspected it's already costing me a great deal of money. I visit the USA several times a year to visit my family. I am in the USA at the moment the exchange rate is the worst I have ever experienced. Also my retirement investments are mostly in industrial property this value has dropped substantially. I can't even hold the main culprits to account, Johnson and Farrage have walked away from the mess they have created .
The main disappearance is ' call me Dave ' despite his claims he wouldn't
Post subject: Re: Will Brexit Be Blamed For Any Coming Economic Crisis?
Posted: Sat Jul 09, 2016 7:49 pm
Lebron James
International Star
Joined: Aug 03 2013 Posts: 1946
bren2k wrote: Hardly the land of milk and honey that Gove, Boris (he never believed it anyway) and Nige promised?
Well of course not. Anyone who wasnt a racist or bigot, or had a simple grasp of economics would have voted remain. Sadly, 75% of our nation are thick and believed what facebook told them. There was absolutely no advantage to voting out at all.
Post subject: Re: Will Brexit Be Blamed For Any Coming Economic Crisis?
Posted: Sat Jul 09, 2016 8:28 pm
Dally
International Chairman
Joined: Dec 22 2001 Posts: 14845
We are not out of the EU and have not even started the process. Quite how people can judge the economic impact if leaving yet is beyond me. People need a sense of perspective!
Post subject: Re: Will Brexit Be Blamed For Any Coming Economic Crisis?
Posted: Sat Jul 09, 2016 9:28 pm
GUBRATS
Club Captain
Joined: Mar 08 2016 Posts: 2418
Lebron James wrote:Well of course not. Anyone who wasnt a racist or bigot, or had a simple grasp of economics would have voted remain. Sadly, 75% of our nation are thick and believed what facebook told them. There was absolutely no advantage to voting out at all.
Regards
King james
Interesting turn of phrase there , but perhaps it takes one to know one
As usual the insults continue just as they did before the referendum
Time will take its course and we will live with both the consequences and benefits , nobody yet knows what they will be , except of course our armchair experts on RL fans
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