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Plot thickens: US want to destroy European economy

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Plot thickens: US want to destroy European economy

Unread postby Free » Sat 04 Feb 2006, 01:42:59

$this->bbcode_second_pass_quote('', '
')Greenspan To Advise U.K. Treasury

LONDON - Alan Greenspan is "the world's greatest economic leader of our generation". This, according to Gordon Brown. Gordon Brown is "without peer amongst the world's economic policymakers". This, according to Alan Greenspan. That's some irrationally exuberant vertebrae-popping backslapping. So, who's better?

We may never find out, because like the world's two top-seeded tennis players--who are unwilling to take each other on--or the globe's two greatest guitarists--who are embarrassed by constant comparisons--the former U.S. Federal Reserve Chairman and the U.K. Chancellor have decided to team up.

Greenspan, who signed off after 19 horn-rimmed years at the helm of the central bank by raising interest rates for the 14th time in a row--about the same as discovering he was one artist's favorite muse--has agreed to become an honorary adviser to the U.K. Treasury.
It is likely Chancellor Brown had dibs on the storied market maestro pretty early--the announcement of the appointment came less than seven hours after Greenspan's tenure as ended.

...



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Re: Plot thickens: US want to destroy European economy

Unread postby jaws » Sat 04 Feb 2006, 01:53:36

The worst he can do is wreck the UK economy, which has already been done the same way the US economy was wrecked.
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Re: Plot thickens: US want to destroy European economy

Unread postby Free » Sat 04 Feb 2006, 02:09:16

Well it was rather meant as a joke, unfortunately my teutonic genes prevent me from being funny.
Better leave that to the professionals, make sure you check out the latest Daily Show clips from the tribute to Alan Greenspan, especially John Hodgmans look into the crystal ball about the future economy, an instant doomer classic...

Daily Show Clips

I know, the UK situation is very similar to the US already, lots of bad credit and mortgages around, real estate bubble etc. I saw this BBC documentary were this journalist went undercover to get some credit to buy a house, and it was obviously standard practice to advise him to overstate his income hugely...quite shocking...
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Re: Plot thickens: US want to destroy European economy

Unread postby Raxozanne » Sat 04 Feb 2006, 05:20:53

Yeah that's what I thought when I heard the news: he's tired of screwing up the American economy so he decided to see what fun he could have over here with us.
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Re: Plot thickens: US want to destroy European economy

Unread postby Nano » Sat 04 Feb 2006, 08:07:24

These teutonic genes had a good laugh, at any rate.

"Horn-rimmed years" :-D
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Re: Plot thickens: US want to destroy European economy

Unread postby LadyRuby » Sat 04 Feb 2006, 09:16:21

Hope you like deficits and tax cuts.
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Re: Plot thickens: US want to destroy European economy

Unread postby Karl » Sat 04 Feb 2006, 11:52:05

The UK economy has been screwed since the days of Mrs Thatcher. Now Gazprom is considering Centrica and 60% of the UK domestic market could end up in Russian hands. And the cold war was supposed to be ended....be even colder if they turn the taps off!.....
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Re: Plot thickens: US want to destroy European economy

Unread postby Euric » Sat 04 Feb 2006, 13:17:21

$this->bbcode_second_pass_quote('jaws', 'T')he worst he can do is wreck the UK economy, which has already been done the same way the US economy was wrecked.


And that he might! Greenspan's advice or actions won't work for the UK as it did for the US. The UK can't just print pounds to pay for the goods in the way Washington could. There is no petropound hegemony as there is petrodollar hegemony.

Greenspan's policies worked for the US because of the petrodollar. If anything, Greenspan's bungling of the UK economy will do more to push the UK to the euro then any amount of pleading by Blair and Brown alone.
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Re: Plot thickens: US want to destroy European economy

Unread postby Euric » Sat 04 Feb 2006, 13:33:50

$this->bbcode_second_pass_quote('LadyRuby', 'H')ope you like deficits and tax cuts.



Tax cuts are not possible in the UK. It is the petrodollar hegemony and the subsidy that the US receives from it that supports the American economy enough that the US government can "afford" tax cuts.

There never will be a pound hegemony or petro-pound recycling, so their can be no tax cuts. Unless, the UK is willing to raise interest rates to third world levels as a means to obtain the investments to offset the reduced income from lowering taxes. The money has to come from somewhere.

They can't just print it unless they are able to find someone willing to accept the extra pounds for payment of goods and services. That isn't likely. The only currency that has a chance of that is the euro and the UK citizens are fighting euroisation.

Then there is the possibility of Greenspan raising interest rates enough in the UK to bring in enough investment funds to allow for lower taxes. But what the consumer might gain by having lower taxes will be more then offset in paying back loans at triple interest rates. So either you pay Peter or you pay Paul. Either way you are screwed.
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Re: Plot thickens: US want to destroy European economy

Unread postby Barbara » Sat 04 Feb 2006, 20:08:45

Maybe those teutonic genes will save our collective EU arses... this time.
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Re: Plot thickens: US want to destroy European economy

Unread postby xarkz » Sat 04 Feb 2006, 21:41:19

$this->bbcode_second_pass_quote('', 'H')ope you like deficits and tax cuts.


and bubbles..
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