Growing Evidence That The Upturn Is Upon Us
What - I'm morally outraged or something? Nah. Disinterested fascination is closer. I've made my preparations.
Look at Italy as just one small piece of a far bigger jigsaw. They have lost 40% in labour competitveness since joining the Euro. It must lower wages quickly and deeply. But no Greek or Italian government is likely to opt for mass unemployment, or stay in power if it tries. Italy already is in public debt to the tune of over 110% of GDP. If it tries to deflate then the compound interest spiral will cripple it in an unescapable trap.
If they try to issue their own currency and redenominate out of the Euro the bank run will cause all their banks to call in all their loans collapsing all their remaining economy.
The world has changed.
WWW
Look at Italy as just one small piece of a far bigger jigsaw. They have lost 40% in labour competitveness since joining the Euro. It must lower wages quickly and deeply. But no Greek or Italian government is likely to opt for mass unemployment, or stay in power if it tries. Italy already is in public debt to the tune of over 110% of GDP. If it tries to deflate then the compound interest spiral will cripple it in an unescapable trap.
If they try to issue their own currency and redenominate out of the Euro the bank run will cause all their banks to call in all their loans collapsing all their remaining economy.
The world has changed.
WWW
Join Date: May 2001
Location: Room 249
Age: 39
Posts: 141
Likes: 0
Received 0 Likes
on
0 Posts
Would your 'preparations' include a tin hat, several thousand tins of Marks and Sparks' sweet and sour and an Anderson shelter?? I am somewhat concerned that in addition to your impressively in-depth analysis of the current global economic situation, you have now brought mention of the use of nuclear weapons by Iran into the conversation. Have you been watching a lot of Sky News recently??
And there I was thinking you were a light hearted kind of guy!
And there I was thinking you were a light hearted kind of guy!
Last edited by cfwake; 27th Feb 2009 at 12:16.
Join Date: May 2001
Location: Room 249
Age: 39
Posts: 141
Likes: 0
Received 0 Likes
on
0 Posts
Actually, can you just confirm, when you wrote:
"Alt-A default, Eastern Europe in the hands of the IMF, revolution in China and the break up of the Euro - THEN - we might be coming out of the other side of this as long as Iran hasn't started detonating atom bombs.
Give it 18 months"
Is that 18 months until Iran drops a nuclear bomb on Gloucester, until China burns with revolution (how would that work anyway? Will they demand bureaucracy?), until the Euro collapses leaving 1 billion people without jobs, homes, running water or copies of the Daily Mail, or until the IMF buys the governments of Eastern Europe?? Or is it all three?!
"Alt-A default, Eastern Europe in the hands of the IMF, revolution in China and the break up of the Euro - THEN - we might be coming out of the other side of this as long as Iran hasn't started detonating atom bombs.
Give it 18 months"
Is that 18 months until Iran drops a nuclear bomb on Gloucester, until China burns with revolution (how would that work anyway? Will they demand bureaucracy?), until the Euro collapses leaving 1 billion people without jobs, homes, running water or copies of the Daily Mail, or until the IMF buys the governments of Eastern Europe?? Or is it all three?!
Clearly its all three.
Do you want to book a seat in my cellar/bunker?
Once they're gone they're gone etc.
And what precisely is wrong with Sky News - beats the hell out of Pravda News over on the BBC..
WWW
Do you want to book a seat in my cellar/bunker?
Once they're gone they're gone etc.And what precisely is wrong with Sky News - beats the hell out of Pravda News over on the BBC..
WWW
Join Date: May 2001
Location: Room 249
Age: 39
Posts: 141
Likes: 0
Received 0 Likes
on
0 Posts
Ha! As long as you don't charge me extra for checking-in at the front door, using the loo or bringing a case with me you're on!!!
As for Sky News, well that's another day's work right there...
As for Sky News, well that's another day's work right there...
Join Date: Nov 2007
Location: Northampton
Posts: 5
Likes: 0
Received 0 Likes
on
0 Posts
This thread is getting boreing, a WWW benefit. He may be right he may be wrong. As one who has been around a longish time I suspect that it will not be easy but it will all work out for the general good in the end.
I concede the battle is won, the point is made, the victor has struted off spoils in hand.
Denied it would happen by many it has come to pass.
The real issue now is now how much worse it will become and how soon the recovery will begin.
WWW
Denied it would happen by many it has come to pass.
The real issue now is now how much worse it will become and how soon the recovery will begin.
WWW
Amazingly its a free service.
Those that laugh now were the ones that laughed at the beginning of the thread when I said that house prices were going to crash and this would lead to a major recession.. People scoffed then and called me a doom monger.
Its all there if you scroll back.
Scoff away.
WWW
Those that laugh now were the ones that laughed at the beginning of the thread when I said that house prices were going to crash and this would lead to a major recession.. People scoffed then and called me a doom monger.
Its all there if you scroll back.
Scoff away.
WWW
Join Date: Apr 2007
Location: UK
Posts: 156
Likes: 0
Received 0 Likes
on
0 Posts
All the people that scoff and sneer at the doom, this ones for you.
Can you really, honestly in your heart of hearts see a way out of the current situation without serious world change?
I can't. I wish i could but I can't.
In the fine words of Mr Obama, There's a change coming. It will be a long hard struggle and there will be suffering but it will all be better in the end for it.
Scratch that, I dont wish i could because change is needed desperately. I just hope the change isn't as severe as easy Jets own Mystic Taff is predicting. But again, there will be suffering, it will be painfull. Change always is.
Can you really, honestly in your heart of hearts see a way out of the current situation without serious world change?
I can't. I wish i could but I can't.
In the fine words of Mr Obama, There's a change coming. It will be a long hard struggle and there will be suffering but it will all be better in the end for it.
Scratch that, I dont wish i could because change is needed desperately. I just hope the change isn't as severe as easy Jets own Mystic Taff is predicting. But again, there will be suffering, it will be painfull. Change always is.
Last edited by Philpaz; 27th Feb 2009 at 23:26.
Thread Starter
Join Date: May 2004
Location: UK
Posts: 715
Likes: 0
Received 0 Likes
on
0 Posts
Can you really, honestly in your heart of hearts see a way out of the current situation without serious world change?
I'd volunteer but I'm on earlies.
Pprune Voyeur
Join Date: Nov 2003
Location: hampshire
Posts: 70
Likes: 0
Received 0 Likes
on
0 Posts
Black catted!
WWW, I can black-cat you on this one. I predicted all this back in 2005, when I bailed out of modular training.
Now, we need to arrange a time and place for you to formally hand over the PPRuNe Orb of Seer. Let's keep this dignified - don't make me have to come and take it off you...
Now, we need to arrange a time and place for you to formally hand over the PPRuNe Orb of Seer. Let's keep this dignified - don't make me have to come and take it off you...
Join Date: Apr 2007
Location: UK
Posts: 156
Likes: 0
Received 0 Likes
on
0 Posts
I'd volunteer but I'm on earlies.
On a ****er note, just got informed this morning that when theres no work (which there isn't) were all being paid a standby rate at roughly 30% less than standard. Bloody beggars! I might be pitching a tent on WWW's farm before the end of the year, dont worry though i'll bring my air rifle to defend against the zombie army
Oh, and beer.
Join Date: Mar 1999
Location: Someday I will find a place to stop
Posts: 1,020
Likes: 0
Received 17 Likes
on
6 Posts
Yep, I propose a group of us form a fellowship, travel into the depths of middle earth, find that evil bloke who lost his ring and give him a good kicking. That should sort the whole thing out.
Join Date: Nov 2004
Location: The Desert but shortly to be HK!)
Age: 49
Posts: 474
Likes: 0
Received 0 Likes
on
0 Posts
A & C my comments were made with my tongue very much placed in the side of my cheek. Won't be long before that cowboy MOL has crew paying to use the toilets on board at this rate.
Nevertheless there will be a relentless stream of wanabees beating a path to his door over the next 2-3 years as it will be pretty much their only chance of getting a jet job. And MOL will use their dreams to undermine the pay of his current "employees".
Flight training schools should include a tub of vaseline and map to the the nearest job centre as standard issue along with all those shiney ATPL note/headsets/maps...
Nevertheless there will be a relentless stream of wanabees beating a path to his door over the next 2-3 years as it will be pretty much their only chance of getting a jet job. And MOL will use their dreams to undermine the pay of his current "employees".
Flight training schools should include a tub of vaseline and map to the the nearest job centre as standard issue along with all those shiney ATPL note/headsets/maps...
Join Date: Feb 2009
Location: ireland
Age: 38
Posts: 102
Likes: 0
Received 0 Likes
on
0 Posts
it will be pretty much their only chance of getting a jet job.
i'm glad i did it modular, and whats more i fly for the best irish airline
Join Date: Mar 2008
Location: Ireland
Age: 43
Posts: 81
Likes: 0
Received 0 Likes
on
0 Posts
The only way out of this recession is a good old war. I mite sound a bit like WWW, but its wots coming next. Its the only way out of it and it has been the only way for the last Century. Mark my words we are all doomed, doomed I tell you.
