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The BillyB, Aster & JR8 roundtable!

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Postby JR8 » Tue, 21 Jun 2011 1:29 am

aster wrote:Greece... exports? What is there, olive oil? The last time I checked they were 66th in the world in terms of exports... that's a long frigging way down the ladder. :)

I reckon they're finished no matter what, unless it just becomes dirt cheap to travel there to get pissed and have a good time. Though even then they probably aren't going to be able to beat Egypt where for like 500 quid you can fly for a week and stay in a 5-star hotel on an all-inclusive basis. :)


Used to be able to do that in Egypt for £300, esp. if you could wait until the last moment. Why do you think I've been something like 12 times :) Now, apparently as many as half the hotels on the ''''Red Sea Riviera''' are in mothballs.

p.s. Greek exports? Financial services (tax avoidance advice)?

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Postby JR8 » Wed, 22 Jun 2011 10:47 pm

'Pimco warns Greece will default'

http://www.telegraph.co.uk/finance/fina ... fault.html


Haha.... oh my.

Thank heavens for the EU eh Aster, and Auntie Doris saving £5 on changing her holiday money, Ooh what a blessing the EU is!

It doesn't matter that it costs every UK household £15,000pa, we're all stoutly european now aren't we (voting or negative opinions not allowed)

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Postby aster » Wed, 22 Jun 2011 11:57 pm

JR8 wrote:Used to be able to do that in Egypt for £300, esp. if you could wait until the last moment. Why do you think I've been something like 12 times :) Now, apparently as many as half the hotels on the ''''Red Sea Riviera''' are in mothballs.

p.s. Greek exports? Financial services (tax avoidance advice)?


I've been there about 6 times. Nice to see that we have something in common in terms of a major holiday destination. :)

As for Greece, their financial services are all located in Cyprus I believe. And even there I would feel uncomfortable keeping any considerable sums of money, given that no big, international bank seems to be present there...

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Postby aster » Thu, 23 Jun 2011 12:09 am

JR8 wrote:Thank heavens for the EU eh Aster


Actually... um... yes! :D

It's a case solved, done and dusted, point proven, nothing more to add, end of story situation. :)

If Greece can attract all the tourists it wants from the UE without any visa limitations, if they can bring in all those people with Euros in their pockets who can spend at will without having to give their share to the shylocks, if they can freely export everything they can produce to the EU without any tariffs or duties... if they can do all that... and they still fcuk up... plus they falsify official financial information which in the case of an individual person would put them behind bars for most of their life... then quite simply put: screw them.

Dump them out of the Euro and EU I say. They are of absolutely no use to the EU as such, or the common currency.

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Postby BillyB » Thu, 23 Jun 2011 12:33 am

JR8 wrote:'Pimco warns Greece will default'

http://www.telegraph.co.uk/finance/fina ... fault.html


Haha.... oh my.

Thank heavens for the EU eh Aster, and Auntie Doris saving £5 on changing her holiday money, Ooh what a blessing the EU is!

It doesn't matter that it costs every UK household £15,000pa, we're all stoutly european now aren't we (voting or negative opinions not allowed)


Good post about Pimco - those guys are usually first port of call for anything bond related.

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Postby JR8 » Thu, 23 Jun 2011 3:42 am

BillyB wrote:
JR8 wrote:'Pimco warns Greece will default'

http://www.telegraph.co.uk/finance/fina ... fault.html


Haha.... oh my.

Thank heavens for the EU eh Aster, and Auntie Doris saving £5 on changing her holiday money, Ooh what a blessing the EU is!

It doesn't matter that it costs every UK household £15,000pa, we're all stoutly european now aren't we (voting or negative opinions not allowed)


Good post about Pimco - those guys are usually first port of call for anything bond related.



That's why I posted it. Pimco are doing a Soros on the euro... It's just that our bar-room buddy Aster hasn't cottoned on yet.

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Postby JR8 » Thu, 23 Jun 2011 3:46 am

aster wrote:
JR8 wrote:Thank heavens for the EU eh Aster


Actually... um... yes! :D

It's a case solved, done and dusted, point proven, nothing more to add, end of story situation. :)

If Greece can attract all the tourists it wants from the UE without any visa limitations, if they can bring in all those people with Euros in their pockets who can spend at will without having to give their share to the shylocks, if they can freely export everything they can produce to the EU without any tariffs or duties... if they can do all that... and they still fcuk up... plus they falsify official financial information which in the case of an individual person would put them behind bars for most of their life... then quite simply put: screw them.

Dump them out of the Euro and EU I say. They are of absolutely no use to the EU as such, or the common currency.



[sigh] They're all the same. What's meant to happen, they ALL get dumped? lol

Ironically that would be my ideal...

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Postby JR8 » Thu, 23 Jun 2011 3:55 am

Pimco: 'the world's biggest bond fund, shrugged off last night's vote of confidence in the Greek government warning that it expects Greece and other European economies to default on their debts to resolve their problems.

Aster: [fingers in ears]. Lalalalalalalala! In fact the euro is great! lalalalalala!


:wink:

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Postby aster » Thu, 23 Jun 2011 10:45 am

You see, I think Greece - or other "work little, spend a lot!" type countries - are the problem, not the Euro.

You seem to think that Greece isn't the problem... and that all blame lies with the Euro. :D

Very convenient! And I bet that lazy, rioting rabble is also keen to place the blame everywhere... but on themselves. :)

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Postby aster » Thu, 23 Jun 2011 10:47 am

So fellas, when is our beer day? :)

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Postby BillyB » Thu, 23 Jun 2011 12:44 pm

aster wrote:So fellas, when is our beer day? :)


Next week sometime? I think Delia might struggle - I hear he is currently working as Angela Merkel's tea boy.

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Postby JR8 » Thu, 23 Jun 2011 4:22 pm

BillyB wrote:
aster wrote:So fellas, when is our beer day? :)


Next week sometime? I think Delia might struggle - I hear he is currently working as Angela Merkel's tea boy.


Aster, mate. You have ADHD, or do you simply not absorb anything that I post? This would kinda explain why nothing I post on the euro seems to make any impression on you! :wink:

p.s. How come you visited Egypt so much, diving?

pps. Hoy Bunter, shut it! lol

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Postby JR8 » Thu, 23 Jun 2011 4:33 pm

aster wrote:You see, I think Greece - or other "work little, spend a lot!" type countries - are the problem, not the Euro.

You seem to think that Greece isn't the problem... and that all blame lies with the Euro. :D

Very convenient! And I bet that lazy, rioting rabble is also keen to place the blame everywhere... but on themselves. :)


I can understand the angle that you have on this, but am more than a little taken aback that you do not seem to be able to see mine at all.

Look at it like this:
It is school sports day, and they are having the three legged race.

The referee teams up Usain Bolt and Eddy the Eagle, in the hope that Bolt will help pull the Eagle up to his own level. But it is a disaster, Bolt is off like a rocket, and the Eagle would rather be in his hammock. They come last!

So who to blame? The Eagle, just for being what he has always been, not very good. Or the referee, for having this mad vision of pairing them together that comprehensively and predictably failed?

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Postby Strong Eagle » Thu, 23 Jun 2011 7:05 pm

So, it seems to me that the actual debt problems are ONLY in the range of 80 or 90 billion. Not a pittance but can be handled.

The real issue seems to be, once again, what happens if the default actually occurs? Now, all the credit default swaps come into play, and god only knows how many have been bought, and how many institutions have been stupid enough to sell them. You'd think AIG would have been a lesson.

The CDS really needs to be radically reined in. I can't buy an insurance policy on your life without a vested interest... why can I buy a CDS on your dumb ass investment even though I have no relationship to you whatsoever.

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Postby JR8 » Thu, 23 Jun 2011 7:43 pm

The EU are going to throw everything they can get (of taxpayers money) at Greece to stop contagion to Spain. They can sustain this for a couple of years - maybe. Spain goes and it is show over for the EU.

CDS's? Don't see holders as being necessarily any more one sided than with any other product. It is the ECB going insolvent that will be entertaining.

p.s. SE gotta pi$$ you off being a yank and having to bail out the Germans (I mean Greeks) eh?


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