Atheistforums.com

News & General Discussion => News Stories and Current Events => Topic started by: Baruch on July 11, 2019, 11:01:51 AM

Title: Bank failure in Germany?
Post by: Baruch on July 11, 2019, 11:01:51 AM
1. US bailed out Europe in 2008-2009 with 7 trillion in credit.
2. Europe et al felt they had no structural problems, because it was all due to US financial speculation
3. Deutche Bank decided to invest in international markets they were unfamiliar with and didn't understand
4. Greek loans and others to S Europe have gone bad, because they weren't credit worthy
5. Germany wants all the Italian gold, to back up their weak banking system, Italy says hell no
6. Deutche Bank laying off thousands
7. Germans demand baii-in by depositors in non-German EU banks ... but will they demand this of Germans on German banks?

Sorry, being EUSR doesn't protect you from stupid accounting.

https://www.youtube.com/watch?v=yD3JYuxXrPM
Title: Re: Bank failure in Germany?
Post by: Sal1981 on July 11, 2019, 12:13:19 PM
I'm of the conviction the 2008-2009 bailout only postponed the inevitable.
Title: Re: Bank failure in Germany?
Post by: Baruch on July 11, 2019, 12:37:06 PM
I'm of the conviction the 2008-2009 bailout only postponed the inevitable.

You may be right.  Pessimism about political economy ... or gold bug?  Imposing a gold standard is very deflationary (bad) ... see GB in 1925.  That was when Churchill was Chancellor of the Exchequer ... worst one of all time, when he tried to impose a partial gold standard to firm up the British pound, after WW I expenditures.

On the other hand, people said in 2008/2009 ... that this Keynesianism means, that when it comes time to tighten at the Federal Reserve, they won't be able to (at end of credit repair cycle).  Actual austerity is required (they tried this on the public in Europe, but not on the banks) and that is never politically popular.
Title: Re: Bank failure in Germany?
Post by: Cavebear on July 13, 2019, 04:35:30 PM
The stock market is on an artificial bubble and bubbles burst...