Ireland in trouble
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Portugal, any number of the old eastern block countries, Italy, the list could go on for a whileLooks like Ireland will go bankrupt by Mid 2011 if they don't get a bailout package from other EU members. It wasn't long ago it was Greece, now Ireland. Anybody can guess which country will be the next?
Just follow Goldman Sachs and the IMF. Wherever countries go bankrupt, you'll find these two scum bags right beside each other. They should do what Brazil did and kick them both out. And look at Brazil's economy now.
BS
BS
Bingo!!!Just follow Goldman Sachs and the IMF. Wherever countries go bankrupt, you'll find these two scum bags right beside each other. They should do what Brazil did and kick them both out. And look at Brazil's economy now.
BS
Canada is on shaking ground too. The only things holding up its economy are commodities and real estate. Real estate collapse will come when US economy recovers and money flows out of Canadian real estate market back to the US, and if oil prices collapses at the same time, mass layoffs will ensue.
You're scaring me.Canada is on shaking ground too. The only things holding up its economy are commodities and real estate. Real estate collapse will come when US economy recovers and money flows out of Canadian real estate market back to the US, and if oil prices collapses at the same time, mass layoffs will ensue.
Funny you should say that, I was thinking the same thing and was looking on expedia and the website for U2's hotel - The Clarance and noticed prices were pretty cheap compared to what they previously were.Pleaseohpleaseohpleaseohplease sink into the toilet! I am going there on vacation next summer and I could totally use a break on hotel prices.
But as far as Bargoons go - Vegas is positively CHEAP for hotels right now.
No, the banks here are set up completely different than they were in the UK and the USA.Canada is on shaking ground too. The only things holding up its economy are commodities and real estate. Real estate collapse will come when US economy recovers and money flows out of Canadian real estate market back to the US, and if oil prices collapses at the same time, mass layoffs will ensue.
Banks in Canada have never given out $500,000 mortgages to guys making 8 bucks an hour. Ever.
What's happened in Ireland is that the banks are in trouble.
It's not that the Irish gov't is in trouble, the gov't there has no choice but to bail out the banks and that is taking SHIT LOADS of money.
That kind of nonsense never happened in Canada. We have the most stable banks in the world. I used to curse Conservative Canadian banks, but now I realize how well run they are.
Canada would be in the same place as Ireland if our banks were doing what the Irish banks were doing - but that's simply not the case.
Nice try though.
There is a great article on Ireland's situation in the GM.
http://www.theglobeandmail.com/repo...e-slaying-of-the-celtic-tiger/article1797583/
http://www.theglobeandmail.com/repo...e-slaying-of-the-celtic-tiger/article1797583/
PIGS....that is what is worrying the EU!
Who are the PIGS; Portugal, Ireland,Greece and Spain! Greece was first at the EU trough, next will be Ireland...and watch for the others to follow there after. Unemployment is really high in these countries and GDP growth non-existant.
Visited Ireland in the spring...tourism is great...more "obvious" problems and poverty to be found in the southern states then you will see in Dublin...good time for a vacation.
Who are the PIGS; Portugal, Ireland,Greece and Spain! Greece was first at the EU trough, next will be Ireland...and watch for the others to follow there after. Unemployment is really high in these countries and GDP growth non-existant.
Visited Ireland in the spring...tourism is great...more "obvious" problems and poverty to be found in the southern states then you will see in Dublin...good time for a vacation.
You are correct sir!PIGS....that is what is worrying the EU!
Who are the PIGS; Portugal, Ireland,Greece and Spain! Greece was first at the EU trough, next will be Ireland...and watch for the others to follow there after. Unemployment is really high in these countries and GDP growth non-existant.
Visited Ireland in the spring...tourism is great...more "obvious" problems and poverty to be found in the southern states then you will see in Dublin...good time for a vacation.
Please, get your facts straight before posting incorrect information. Canada is far from being on shaking grounds, people from ireland are moving here for work. Canada is doing very well compared to other developed countries. I love how people always have a negative attitude towards things. When the economy is doing well nobody says a thing however, if the stock market goes down a few points then people write that the market is going to crash. Overall Canada is doing just fine...Canada is on shaking ground too. The only things holding up its economy are commodities and real estate. Real estate collapse will come when US economy recovers and money flows out of Canadian real estate market back to the US, and if oil prices collapses at the same time, mass layoffs will ensue.
My facts are straight! Canada is dependent on commedity prices - mainly oil. Similar to Norway. Canada and Norway are the two countries doing extremely well because of natural resources, not because of government policy or hard working citizens - makes me laugh even to think our government and workers are somehow superior to other developed countries. Basically, just wait till oil prices collapse back to $20 / barrel, and then come back and praise how wise our government or banks are, or how industrious our citizens are.Please, get your facts straight before posting incorrect information. Canada is far from being on shaking grounds, people from ireland are moving here for work. Canada is doing very well compared to other developed countries. I love how people always have a negative attitude towards things. When the economy is doing well nobody says a thing however, if the stock market goes down a few points then people write that the market is going to crash. Overall Canada is doing just fine...
The US dollar will still be a major world currency, no doubt about that, however, it's days as THEE dominant world currency is over.and think the EU was going to crush the US as the dominating world money
Interesting concept... interesting but wrong. The Irish economy is getting killed becasue teh Irsh banks loaned out truck loads of money , now they have a problem getting paid on the loans, the Irish govt is going to have a couple of tough choices, 1) Bail out the banks like the states did, the govt will ahve to borrow money for that, or 2) let the insolvant banks die, which could cause even bigger problems depending on how much money the people of Ireland have on deposit.My facts are straight! Canada is dependent on commedity prices - mainly oil. Similar to Norway. Canada and Norway are the two countries doing extremely well because of natural resources, not because of government policy or hard working citizens - makes me laugh even to think our government and workers are somehow superior to other developed countries. Basically, just wait till oil prices collapse back to $20 / barrel, and then come back and praise how wise our government or banks are, or how industrious our citizens are.
Either way it is politicians nightmare.
Germany is doing extrwamly well along with a couple of others, they probably resent the EU about now, or at least the parts of the EU that are going to be takling large amounts of the available credit.and think the EU was going to crush the US as the dominating world money
The USD will be the reserve currency until the Yuan comes up to market levels and is viewed as a useable currency, at that point the chinese govt will probably dump all their bonds ( the USD ones) on the market .That will be an interesting couple of days if it ever comes about
Some people say "PIIGS". That is Portugal, Ireland, Italy, Greece and Spain.PIGS....that is what is worrying the EU!
Maybe, but not for at least 50 years. Reserve currency does not equal to the size of economy. EU is bigger economy than US, yet euro is not reserve currency. Japan had been the 2nd largest economy for decades, yet Yen is less than 5% of global reserve. US dollar 65%, Euro 25%. US dollar has been a reserve currency because of political power and stability as well as economy, AND the length of time in which US has dominated economically and militarilly in the world. It gives people a perception of safety and stability. Chinese will no doubt become bigger economy than the US in 10 years, but its government has not earned respect of the world leaders as being responsible and democratic - ie it could suddenly devaluate Yuan to screw you over.The USD will be the reserve currency until the Yuan comes up to market levels and is viewed as a useable currency, at that point the chinese govt will probably dump all their bonds ( the USD ones) on the market .That will be an interesting couple of days if it ever comes about
Another reason US dollar will remain reserve currency for a long time is because central banks around the world have been accumulating US dollars for decades, because its importance in trade. Euro has been catching up steadily in the past 10 years, but it looks like the trend is about to reverse. It is not so easy for everyone to just suddenly dump all US dollar and convert to Yuan even if you wanted to. China will have to dominate the world economy for at least 20 - 30 years before Yuan will become a significant rival to US dollar as a reserve currency - this is given that its government can be trusted.
