Hot Brendan Keenan's "Bleak Omens" for Europe!

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Kershaw

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Euro crisis: Dutch PM panics as Italy risks eurozone meltdown ‘they can’t escape!’

DUTCH Prime Minister Mark Rutte has warned that Italy’s mounting debt has left the European Commission with no choice but to intervene and slap the struggling EU economy with a heavy fine.

Dutch leader Mark Rutte has claimed that Italy’s debt crisis risks causing a rupture within the eurozone, warning that there has been a breakdown in trust between the member-states. Speaking to Bloomberg at the G20 Summit, Mr Rutte said there is no evidence the European Commission should hold off from disciplining Italy over its mounting debt. This comes despite words of optimism from Italian Prime Minister Giuseppe Conte, who’s attending the G20 summit in Japan.

Euro crisis: Dutch PM panics as Italy risks eurozone meltdown ‘they can’t escape!’
 

libertarian-right

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Gold nearing all time highs versus a basket of 27 currencies, excluding the USD.



Eurozone not looking great right now. End of year / 2020 still the time frames to look at.



Germany at near zero GDP growth.



Inflation expectations are collapsing. We know that the ECB is only driven by ONE mandate - inflation.

IMF are looking at ways of promoting negative interest rates and getting rid of cash money. The IMF says that, without cash, "depositors would have to pay the negative interest rate to keep their money with the bank, making consumption and investment more attractive. This would jolt lending, boost demand, and stimulate the economy." We will hear more of this type of stuff from Christine Lagarde in the future...

The ECB will push yields lower and finally kill off some banks that are really struggling (Deutsche bank). The ECB will again "rescue" an EU-wide banking system, again forcing banks into state hands instead of them falling, buying the extra gov debt and they are going to need to force fiscal reforms and massive fiscal stimulus through tighter EU fiscal consolidation...could some EU states not make the cut this time around? This will strengthen the dollar and weaken banks further and weaken the global economy.
 

bells of shandon

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There are several Black Swans coming together, which can bring chaos to the EU and the Western economies.
The Iran crisis ,unnecessarily stoked by the piracy of an Iranian cargo of oil off Gibraltar and the threat of Iranian retaliation..
The massive Euro 43 Trillion exposure of derivatives held by Deutsche Bank
The threat by Italy to issue a parallel currency/bond, the mini Bot to stimulate their economy.
That old faithful issue of Brexit.
At this point, it looks like' blood in the streets' time, and gold is a safe haven.
 

libertarian-right

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The most predicted recession in history. It's just the waiting game now and guessing when and what trigger will kick it off.
 

valamhic

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The most predicted recession in history. It's just the waiting game now and guessing when and what trigger will kick it off.
I have a book called reading the financial press. Its about 25 years old and yes we are heading for an event OK.

Great thread here, fair play to all you posters. One question. Why is the first action in a recession by the central banks to lower interest rates? Woukld that not cause depositors to withdraw their money.
 

Storybud2

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I have a book called reading the financial press. Its about 25 years old and yes we are heading for an event OK.

Great thread here, fair play to all you posters. One question. Why is the first action in a recession by the central banks to lower interest rates? Woukld that not cause depositors to withdraw their money.
jobs beats all,, no capital , nothing happens,, money flowing freely means jobs,

I am more concerned about morons like Vladkar , Murphy etc,, our housing crisis should have been fixed by now,, Vlad is just making it worse with vulture/hedge funds snapping up apartments and giving away thousands of Irish first world houses FREE to the third world still in 2019 ?? what a fooking inept , clueless leader and a traitor to boot,,

Some of our best are leaving simply because of NEW FGs incompetence to solve a simple problem like housing people in their OWN FOOKING COUNTRY,,, I do think there is an agenda to drive people out of home ownership and that is a fooking recipe for disaster down the road.
 

Kershaw

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Forget the trade war. The real risk to the global economy is the death spiral in which Eurozone banks are in, GK says. Best indicator of this is that mkt cap of major banks keep shrinking. UniCredit’s have dropped to €21bn this week, Commerzbank’s to €6bn following weak numbers
 

Saul Goodman

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keep the recovery going......vote yes to jobs keep leo for life.....bum rights for everyone
 

Kershaw

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Shrinking German economy 'on edge of recession' as exports stutter

A slump in exports sent Germany's economy into reverse in the second quarter, data showed, as its manufacturers bore the brunt of a global slowdown amplified by tariff conflicts and uncertainty over Brexit.

Gross domestic product (GDP) fell 0.1pc quarter-on-quarter, in line with a Reuters poll of analysts, as one observer raised the prospect of a further contraction in the third quarter and the industrial sector urged the government to kick-start growth by issuing more debt.

On a calendar-adjusted basis, the annual growth rate slowed to 0.4pc in the second quarter from 0.9pc in the first, Wednesday's Federal Statistics Office data showed.

For 2019 as a whole, the government expects a growth of just 0.5pc.

"The bottom line is that the German economy is teetering on the edge of recession," Andrew Kenningham from Capital Economics said, noting that exporters were facing an even bigger potential hit if a threatened no-deal exit from the EU by Britain actually materialised on October 31.

Shrinking German economy 'on edge of recession' as exports stutter - Independent.ie
 
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