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Is our mess going to spread to Europe? - 9/28/2008 12:09:14 PM
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Leslie_JnJs_mom
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I was listening to the news and the British sounding economic guy on fox news was saying that there is a major bank in Europe that is in big trouble and may fail at any time. So do you think this will now spread?
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RE: Is our mess going to spread to Europe? - 9/28/2008 2:23:26 PM
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colliefan
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It's more like Europe's socialism has spread to the US of A.
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RE: Is our mess going to spread to Europe? - 9/30/2008 4:10:00 PM
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AdrianaS
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quote:
So do you think this will now spread?
Yes, it did spread worldwide..
When the markets started to go down and down Brazil went down -12,60 yesterday while here in theUSA was something -10%..today Brasil is 4,87%...
It went all red but now things are green..it seems just in Japan they still are minus..-4,12
And Banks in Europe did suffer, English bank Bradford & Bingley was nationalized, as other European countries did entered in accord between themselves to inject lots of many into some banks..Dexia, Fortis. Germany gave lots of credit to Hypo Real State. Iceland nationalized the Glitnir...
The turbulence was all over for sure.
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RE: Is our mess going to spread to Europe? - 9/30/2008 4:47:56 PM
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GroupW
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There's no question that this was not just a US phenomenon. The UK, Spain, and a number of other countries have all had housing related bubbles and are feeling the pain. In the UK, Bradford & Bingly has gone under. In Belgium, Dexia and Fortis are gone. Hypo Real Estate in Germany ....
AdrianaS has the right answer here.
It not only CAN spread to Europe, it indeed has. The UK's housing bubble is quite possibly even worse than that of the US was by some measures. Spain as well. This is something that has seemingly gone unnoticed. It's not just we silly Americans that had the issue.
At its root, it's not an American problem. It's a human nature problem. It has far less to do with being a socialist or a republican or a (fill in the blank) than it has to do with just being a basic greedy human. Of that, we're all guilty.
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RE: Is our mess going to spread to Europe? - 9/30/2008 5:47:11 PM
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GroupW
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quote:
ORIGINAL: AdrianaS
Are those international banks affected because they have problems in their own countries plus invested in the house market USA also?
For the most part, it's a little of both although I think Bradford & Bingley was mostly a UK shop
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“For every problem, there is a solution that is simple, elegant and wrong.” -H.L. Mencken
"Most people would rather die than think; in fact, they do so." -Bertrand Russell
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RE: Is our mess going to spread to Europe? - 9/30/2008 6:01:56 PM
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GroupW
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Interesting perspective. I keep forgetting you're a Canuck.
Interestingly, Canada has always had a very conservative credit culture. In commercial real estate, Canadian loans look way more conservative than the American variety. Guess I'm not surprised that it's the same on residential.
BT
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“For every problem, there is a solution that is simple, elegant and wrong.” -H.L. Mencken
"Most people would rather die than think; in fact, they do so." -Bertrand Russell
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RE: Is our mess going to spread to Europe? - 10/2/2008 6:49:12 PM
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AdrianaS
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Now the situation is getting problematic..Brasil went down 7%, the investors running away from Brazilian markets and selling like crazy..and dollar is up..2,00..
It seems Brasil is too liquid young market or something like that...
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RE: Is our mess going to spread to Europe? - 10/2/2008 7:35:05 PM
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GroupW
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Since normal international trade is dependent on bank for Bankers Acceptances for liquidity, it would only be a matter of time before a US banking crisis starts to impact otherwise less related economies.
Welcome to the wicked web of high finance.
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“For every problem, there is a solution that is simple, elegant and wrong.” -H.L. Mencken
"Most people would rather die than think; in fact, they do so." -Bertrand Russell
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RE: Is our mess going to spread to Europe? - 10/3/2008 10:56:09 AM
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AdrianaS
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That is terrible and many are very pessimist as France President saying we are very near the abysm and various representativies os Latin American that are in Florida in some kind of economics talkings etc. saying the situation is threatening democracies and that capitalism is no good..countries that are exporters and something about commodities..
Lots is going on..and is very bad that countries that not even had much or anything to do with mortgages, or overly depedent US are being affected because their parteners are very much involved with US and dependent US..this world must not be dependent in the rich nations because they mess up, speculate are not conservative and have weak regulations and other countries mre humble economies suffers.
There must be an emergency meeting among "a or the" organization that regulates world economy, trades, markets and etc to set up international rules that do not allow any nation or its way of dealings to affect young markets and nations in development. The food crises is already great, middle classes around the world are suffering and most realities of the world are ot 1st country realities at all.
There is no way anymore that 1 single nation have the power to give all cards and that its domestics mess and irresponsability go messing up all over the globe! Meanwhile the domestic US politicans playing all kind of games etc
Its dirty and wicked and very low standards of high finances, hopefully we will have a world emergency meeting calling out to responsability nations big time and change the ways of economics, soon as banking is a world industry it must be REGULATE in worlds standards, not USA standards or interests (or any other 1st world country)!!!
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RE: Is our mess going to spread to Europe? - 10/4/2008 3:06:05 AM
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FurGodWurLivin
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Based on how intertwined the Financials market is, any nation with a Financial and Services based economy is in jeopardy of having the DJIA's craziness spread their direction. That is why Bush kept make references to a "global depression" is the bailout wasn't passed.
Adam
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RE: Is our mess going to spread to Europe? - 10/4/2008 1:14:43 PM
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AdrianaS
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Here we go at least talkings are happening..." EU heads start bank crisis talks" EU 4 leaders mini-summit
And:
"The president of the European Parliament has criticised the summit, warning that the leaders of Europe's four largest economies have no power to decide for the entire European Union."
I do agree with criticisms about this practice of the "most powerful and largest" and their summits, in issues that affects other economies around and beyond etc and few some make decisions for all.. that must change.
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RE: Is our mess going to spread to Europe? - 10/5/2008 2:49:25 AM
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aslouie
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I've been trying to keep up with European current events--regarding our Wall Street meltdown, and even (Nicolas) Sarkozy and (Angela) Merkel are in full crisis mode, debating how to deal with the stateside bailout plan--to the point maybe their respective countries should authorize similar packages of their own!
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RE: Is our mess going to spread to Europe? - 10/6/2008 12:45:12 PM
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AdrianaS
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Yep, Aslouie
The situation globaly is very much case sensitive..panic, scare and etcs
EU crisis
In Brasil the market closed twice already..the dollar is going up like everywhere etc
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RE: Is our mess going to spread to Europe? - 10/6/2008 4:04:42 PM
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phreddy
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On the bright side oil has gone below $90.00/barrell.
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RE: Is our mess going to spread to Europe? - 10/6/2008 4:14:23 PM
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Jhud
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Hey, and now the dollar is considered stronger agaist the Euro. With all this manure, there has to be a pony in here somewhere!
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It has been said that politics is the second oldest profession. I have learned that it bears a striking resemblance to the first..
- Ronald Reagan
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RE: Is our mess going to spread to Europe? - 10/6/2008 4:44:05 PM
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mapachito13
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quote:
ORIGINAL: Jhud
Hey, and now the dollar is considered stronger agaist the Euro. With all this manure, there has to be a pony in here somewhere!
That Jack was the funniest thing I've read all day! 
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"I would argue that the most serious threat to the United States is not someone hiding in a cave in Pakistan or Afghanistan, but our own fiscal irresponsibility."-David Walker, fmr comptroller general of the US
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RE: Is our mess going to spread to Europe? - 10/6/2008 7:56:14 PM
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Jhud
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quote:
It comes from a joke. A boy opens up his bedroom door on his birthday to find that it is filled with manure. Undaunted, the boy starts digging through it feverishly. His Dad asks what are you doing? The boy says, "With all this manure, there just has to be a pony in here!"
Exactly; it is a humorous portrait of the eternal optimist, which I have been at times, though I consider myself an optimistic realist.
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Jack
It has been said that politics is the second oldest profession. I have learned that it bears a striking resemblance to the first..
- Ronald Reagan
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RE: Is our mess going to spread to Europe? - 10/7/2008 4:19:41 PM
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AdrianaS
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LOL..I have to laugh..as how some may see the present crisis going on as frustrations goes.
As The Brasilian Presisent was complaning about the economic crisis and the G-8 group wanting talk about environment and not economics at the last meetings they had etc Brasil's Pres. did mentioned that if the crisis going on was triggered by any developing country o somehow one of those countries were out of the line etc and gave Argentina as exemple, the IMF would be already there giving instructions and being all bossy around.LOL ..but sure as much mess comes from rich countries IMF is all quite...LOL
Not so because IMF already voiced its oppinions regarding the situation: IMF urges collective CB actions against credit crisis
The irritation may come automaticaly by those countries who had to deal with IMF ways and etc
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