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EU Politics - Hamsterwheel

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EU Politics - Hamsterwheel

Old 20th Jul 2014, 07:30
  #3521 (permalink)  
Ecce Homo! Loquitur...
 
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The Italian appeals court has acquitted Silvio Berlusconi in his underage prostitution trial. He had been sentenced to seven years behind bars but now walks free. His ban on holding public office has also been overturned......
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Old 20th Jul 2014, 10:35
  #3522 (permalink)  
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Quite right too ! If everyone who had sexual relations with minors were sent to prison, the British entertainment industry would grind to a halt.
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Old 14th Aug 2014, 06:10
  #3523 (permalink)  
 
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Italy's Renzi must bring back the lira to end depression - Telegraph

It is an incontrovertible fact that Italy’s 14-year disaster coincides with EMU membership
A long article which analyses the reasons why the Euro was always doomed to fail. The readers' comments below are almost all anti-Euro.

Italy has always been an economic disaster, this is nothing new, but the article nevertheless makes valid points about the worsening situation and impending disaster since it joined the single currency.

Schoolchildren, the elderly and the 'man in the street' all knew that the Euro was a flawed concept from the start, but it was designed and implemented by greedy self-interested politicians to further their empire building aims. Such people have no view of reality, no shame, and no honour.
Thus they have bought half of Europe to its feet.
When will someone finally have the balls to walk away from this ridiculous failed experiment? As soon as the first one does, others will follow.

Last edited by Capetonian; 14th Aug 2014 at 06:21.
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Old 14th Aug 2014, 07:43
  #3524 (permalink)  
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The banner running along the screen on France 24 News yesterday read "unexpected and large drop in EU productivity" but I've seen no mention of this elsewhere. It was followed by one saying "Unemployment in the UK at its lowest level for seven years".

Must say I find France 24 News offers a very fair and unbiased view of things in general (unlike SKY and BBC).
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Old 14th Aug 2014, 08:00
  #3525 (permalink)  
 
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Mind you the BBC and SKY news channels gives very good coverage when some celeb kicks the bucket though.
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Old 14th Aug 2014, 08:07
  #3526 (permalink)  
 
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I suspect that OFSO's observations only prove that the French don't know what the other hand is doing. (I can make a guess though!)
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Old 14th Aug 2014, 08:07
  #3527 (permalink)  
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..and that's ALL they do, Mr D.

Back to Europe. Mrs OFSO sitting in a TGV which should be heading north but is stopped after a death on the high speed track. Scanning SNCF and newspaper sources, the word "accident" is nowhere to be seen. Quite a few people seem to be using the 300kph trains as a way of terminating their personal financial situation.
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Old 14th Aug 2014, 08:37
  #3528 (permalink)  
 
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Always struck me that a 300kph Train (and the faster ones they are talking about) would make a excellent kinetic missile if derailed in the right place as well.
Time we slowed down as a society.
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Old 14th Aug 2014, 08:42
  #3529 (permalink)  
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The banner running along the screen on France 24 News yesterday read "unexpected and large drop in EU productivity" but I've seen no mention of this elsewhere.
Eurozone GDP: German economy contracts, and France stagnates - live
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Old 14th Aug 2014, 08:54
  #3530 (permalink)  
 
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Always struck me that a 300kph Train
Bad pun Mr. D (unintentional no doubt!)

I've always wondered why the combination of a 300kph 300 tonne train and 25kv. hitting someone should bring things to a halt. Stuck at Guildford a couple of weeks ago on a moribund SW Train headed nowhere, took me 3 hours to get from Gatwick to Weybridge thanks to the antics of a knife wielding maniac on the tracks, as explained by the train guard. The official explanation was 'a track incursion'.

When I commented to the guard that I would have thought that an 85 mph train would have done a better job of removing him than the police, he said : "We can't do that Sir, we're a civilised country ......." before looking over his shoulder and adding : "More's the pity!"
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Old 14th Aug 2014, 16:47
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Is the eurozone being dragged into deadly spiral of deflation?

Telegraph 4 hours ago

Portugal, Greece and Spain are in deflation, official figures show, while Italy's inflation rate fell to zero in July

It's official. Portugal, Greece and Spain are in deflation - while Italy isn't far behind.

Prices in the three eurozone nations fell in July, while overall inflation in the currency bloc was confirmed at just 0.4pc, down from 0.5pc in June. This represents the lowest level in almost five years.

Prices in Greece fell by an average of 0.8pc in July, according to Eurostat, while prices in Portugal and Spain fell by 0.7pc and 0.4pc respectively. In Italy, the inflation rate was zero.

Deflation is bad for two reasons. Firstly, falling prices leads to people putting off purchases. If they believe a TV will be cheaper next month, they'll wait for the price to fall. If people stop shopping, retailers are forced to slash prices further, which leads to declining profits, lower wages and companies shedding staff.

Of course, falling prices are not necessarily a bad thing. Mario Draghi, the president of the European Central Bank, has said that in the short term, it can help hard-pressed consumers.

However, the main reason deflation is a threat to economies is because it makes debt payments more expensive. Companies are at risk if they are unable to pay their debts given the lower revenues and profits seen from deflation.

For nations like Greece and Italy, which have racked up huge debts, this is a serious problem.

Deflationary spirals can quickly take hold, where falling consumption and investment causes prices to fall even further. Just ask Japan, which only started to emerge from the shadow of deflation last year. It fell into the trap in the 1990s.

The outlook is worrying.

Growth is slowing down. Official data on Thursday showed the eurozone stagnated in the second quarter , while an ECB survey published on Thursday suggested that growth for the rest of the year would be weaker than previously expected.

Last week, Mr Draghi told his monthly news conference that the bank's policymaking Governing Council was "unanimous in its commitment" to use measures including QE if necessary.

"Our monetary policy stance remains, and will remain, accommodative, and I can only reaffirm that the Governing Council is unanimous in its commitment to also use unconventional measures, like ABS purchases, like QE, if our medium-term outlook for inflation were to change," he said.
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Old 14th Aug 2014, 18:08
  #3532 (permalink)  
 
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Deadly for whom? Savers get royally screwed by inflation. Deflation means I can keep my money in a nice safe Credit Union, instead of investing in some sleazy, crooked scheme i.e. any major bank (). Furthermore I don't have to worry about future income and I'm much less of a burden on the State.

..and you aren't going to convince me that major profits going to billionaires and more taxes going to Governments that simply waste them is a good idea.

p.s. If your boatbuilder has more work than he can handle and angry customers, this is solely due to his inability to plan and irrelevent to worker availability. His working silly hours has the same cause. Self-inflicted injury.

Furthermore, he should be voting for a low tax party.
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Old 14th Aug 2014, 20:28
  #3533 (permalink)  
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French farmers blocked the AP-7 motorway crossing from France into Spain all day today in protest against Russia imposing sanctions against EU produced fruit and veg. A prize of a wooden spoon to anyone who can tell me how such a demo served any useful purpose other than irritating people travelling from France into Spain and the reverse, of course - the vast majority of whom wouldn't have been Russians.

Furthermore, he should be voting for a low tax party.

a) not allowed to vote in Spanish elections - do you think Spain is a democracy or similar ?
b) if you think national political parties implement national policies in EU countries today you don't know how the EU works.
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Old 14th Aug 2014, 21:04
  #3534 (permalink)  
 
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Prices going down? That would be just horrible. Horrible!

I mean, who would ever buy a computer if they knew next year's model would be twice as powerful and cost less?
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Old 14th Aug 2014, 21:14
  #3535 (permalink)  
 
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Trouble is they seldom were twice as fast,I recall in my days as a techy nerd reading the specs of the latest whiz bang graphic cards and such and simply having to have one,one seldom saw much difference but conned yourself you did,thus did they hoover money orf the likes of me and my kind.
Sorry,thread drift.
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Old 15th Aug 2014, 07:28
  #3536 (permalink)  
 
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Joking apart, the danger with deflation is that it slows the economy down by reducing the volume and value of spending, reduces fiscal take, and causes stagnation.

I'd be delighted to be able to delay the purchase of my new car for a few months knowing that it will be lower than today, but think of the effect on businesses if that happened in all sectors over a long period.
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Old 15th Aug 2014, 21:02
  #3537 (permalink)  
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That's the French and the Germans sorted out, then.....

https://www.youtube.com/watch?v=XFGrQMD6Uqc
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Old 16th Aug 2014, 00:31
  #3538 (permalink)  
 
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Japan didn't "fall into deflation", it plunged from 40,000 feet without a parachute into deflation. Japanese Stock and Land Prices both rose by 300% in 6 years in the 1980s. Furthermore,the Japanese Government did naff all about it, then brought in policies that had no effect due to loopholes, then took monetary action that economists round the World said at the time would have a further negative effect, and they were right.

http://www.nber.org/papers/w10878.pdf

Almost none of this applies to the current gentle deflation which might occur in Europe. Consider the drop in prices. There comes a point where your old car needs replacing rather than wants replacing, so you buy new. Effectively, deflation can only continue for the length of time it takes for people to need to make major purchases, say two years. Unless, like Japan, it takes 10 years for prices to drop to a sensible level (Japanese didn't delay waiting for a better price from one they could afford immediately, they delayed because they couldn't afford the immediate price, by a lot), and then the Government ups taxes so you no longer have the surplus income (for another 10 years).
Warning: 'O' Level Economics here - I would welcome correction on this if I'm wrong.
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Old 23rd Aug 2014, 06:36
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European economy guide: Taking Europe?s pulse | The Economist

Some interesting statistics here.
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Old 23rd Aug 2014, 07:14
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Taking Europe's Pulse


I don't know where you'd take Europe's pulse but I know where I'd like to give Europe an enema !

Our cleaner/housekeeper in our absence/house and cat minder/friend is leaving Spain.

Four years ago she had a reasonable income here, cleaning, looking after the elderly, assisting at an hotel in summer, and doing rental change-overs, sometimes over 20 on a Saturday. She worked all hours but that is what one does.

She now has only one house to clean, nobody else can afford 12 an hour.
Likewise the elderly, now only one person can afford her.
The hotel has cut staff.
The villa rental company, at one time highly successful, has gone bust. I think property owners are now doing their own lets and not declaring them for tax (as the former company did).

No income, no way to stay in Spain, so she is moving back to England to live in family property - and already has offer of a job there.

Meantime our witless Prime Minister Rajoy goes on about Spain having turned the corner. I don't know which corner he means but I suspect it is not the corner I'm thinking of.
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