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Old 04-16-2012, 08:06 PM   #811
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Default Re: Financial clusterfuck in Europe

naw, that won't happen anytime soon. but i guess their very own race to the national bottom, i.e. bankruptcy, might be too close to call. madrid is leading buenos aires as we speak.

http://online.wsj.com/article/BT-CO-...16-712082.html

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Spain Government May Take Over Some Regions' Finances
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Old 04-16-2012, 08:20 PM   #812
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Default Re: Financial clusterfuck in Europe

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Would be hilarious if the Argentine economy overtook Spain at some point. Probably won't happen within my lifetime.
I can't find it right now, but I've seen a graph showing the evolution of GDP and GDP per capita figures for Argentina and Spain in the 20th century, and at some point during the 50s the Argentinian GDP per capita was twice that of Spain.
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Old 04-16-2012, 08:24 PM   #813
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Default Re: Financial clusterfuck in Europe

Spain's new conservative government has been a monumental disaster so far. No wonder, having a former Lehman Brothers executive as Minister of Economy...
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Old 04-16-2012, 08:25 PM   #814
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I can't find it right now, but I've seen a graph showing the evolution of GDP and GDP per capita figures for Argentina and Spain in the 20th century, and at some point during the 50s the Argentinian GDP per capita was twice that of Spain.
That wouldn't surprise me. The Spanish economy was destroyed by the civil war.

Many southern hemisphere colonies (Australia, New Zealand, South Africa, Argentina) had high living standards in the early 20th century thanks to natural resources.
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Old 04-16-2012, 08:44 PM   #815
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Default Re: Financial clusterfuck in Europe

This was too good not to share.

"Cristina Kirchner, we have Messi. Do not take over YPF."

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Old 04-16-2012, 08:50 PM   #816
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Default Re: Financial clusterfuck in Europe

good one

if there is a sector a government is going to nationalise, then part of the energy sector is a decent call... i am not sure how the other south american countries have structured their energy sectors, but i'd imagine there would be a fair number of competing entities in order to make sure production was efficient and priced accurately...

i actually think this is the way many economies are beginning to lean... less globalised and more localised markets... which is probably the way things should go imo
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Old 04-19-2012, 12:24 PM   #817
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Old 04-19-2012, 12:58 PM   #818
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Default Re: Financial clusterfuck in Europe

give everyone a new house
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Old 04-22-2012, 09:47 AM   #819
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Default Re: Financial clusterfuck in Europe

http://blog.alexanderhiggins.com/201...llapse-125211/
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Old 04-22-2012, 09:49 AM   #820
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Default Re: Financial clusterfuck in Europe

To cut a long story short, Spain is f****d.
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Old 04-22-2012, 08:01 PM   #821
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Default Re: Financial clusterfuck in Europe

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That wouldn't surprise me. The Spanish economy was destroyed by the civil war.

Many southern hemisphere colonies (Australia, New Zealand, South Africa, Argentina) had high living standards in the early 20th century thanks to natural resources.
Uruguay as well, they were called the South American Switzerland back then.

It's interesting when you see graphs like this:

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Old 04-22-2012, 08:27 PM   #822
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Default Re: Financial clusterfuck in Europe

australia will be the final property bubble to bust... increasing mortgage delinquencies being reported there now...

though, my gut feeling says that it won't be the runaway problem it was here due to regulation being adhered to... hopefully the aussie dollar will weaken a bit though... still hurting from that 2 for 1 split on offer in january 2009...
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Old 04-23-2012, 03:44 AM   #823
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Australia will always be safe. A whole continent of land and natural resources for just 20million people. The only country that can afford a minimum wage of $15/hour.
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Old 04-23-2012, 03:53 AM   #824
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Uruguay as well, they were called the South American Switzerland back then.

It's interesting when you see graphs like this:

Indeed, especially 1975-1990. Chile was booming during much of this period so interesting to know why Argentina went backwards.
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Old 04-24-2012, 02:58 PM   #825
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Default Re: Financial clusterfuck in Europe

har-tru, remember when we were talking about whether the club med countries would at some point come up with a concerted, anti-austerity effort? i guess once holland takes over france, they probably won't need consultations anymore. the mere fact that paris will go up against berlin on all things austerité ought to be enough for athens or lisboa to communicate some form of "alright! right on! there you go!" via the press. and that's when merkel tumbles. berlin cannot afford to piss off the south any longer.



sooner or later, this whole charade will turn into a lose-lose-situation for every single fucking european citizen, including the non-eu-periphery like switzerland. just imagine the euro sinking - it would virtually ruin the swiss overnight due to their central bank's vast exposure to the fx markets.

*edit: @ jimmy

given that i might have to emigrate, australia and new zealand are at the top of my list as of now. might i add to your points the aussies' perfect location for the upcoming asian century.
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