Europe wins again!

[GTaudiophile]

Their banks played it safe...and are now in a position to buy ours.

Guess who has the last laugh?

Little Crisis for Europe's Banks

...Meanwhile, the Dollar declines against an ever stronger Euro.

 

[Robor]

When I saw this I thought it was a spin on the Ryder Cup.

 

[Dari]

You should really tip your hats off to the European Central Bank. They have been extremely competent and focused only on inflation. If it wasn't for them, your banks would've been in the same situation as England's and America's. The ECB is one of the last institutions I have respect for.

 

[StageLeft]

Also, Japanese institution to buy up to 1/5th of Morgan Stanley.

I'm actually a bit worried. My personal finances are in decent shape, but like in a tug of war if the rest of your team has broken shoulders, no matter how strong you are you'll lose.

 

[GTaudiophile]

What's so bad with the rest of the world owning America anyway?

Obviously we get too greedy and don't know how to manage our money.

I wonder where we'd be if the emphasis in this country (from the government on down) was on "saving for a raining day" instead of "got to have it now and will buy it on credit/finance my debt".

 

[ntdz]

And yet Europe is in the midst of recession despite being about a year behind us in terms of where their economies go...and our economy grew at 3.3% last quarter...

 

[Engineer]

Originally posted by: ntdz
And yet Europe is in the midst of recession despite being about a year behind us in terms of where their economies go...and our economy grew at 3.3% last quarter...

Take out the 168 billion in "borrowed" stimulus checks and see how much the economy grew last quarter, LOL!

Besides, I'm not sure what GDP growth has to do with being in a recession or not...that's not the definition of a recession and has little to nothing to determine whether we are in one or not. We'll know about 6 months after the fact whether we were/are in a recession or not.

And finally, I don't see the European government giving a 700 billion bailout to their banks, at least not yet. Maybe they will have to later, but probably not.

 

[LegendKiller]

Originally posted by: Engineer

Originally posted by: ntdz
And yet Europe is in the midst of recession despite being about a year behind us in terms of where their economies go...and our economy grew at 3.3% last quarter...

Take out the 168 billion in "borrowed" stimulus checks and see how much the economy grew last quarter, LOL!

Besides, I'm not sure what GDP growth has to do with being in a recession or not...that's not the definition of a recession and has little to nothing to determine whether we are in one or not. We'll know about 6 months after the fact whether we were/are in a recession or not.

And finally, I don't see the European government giving a 700 billion bailout to their banks, at least not yet. Maybe they will have to later, but probably not.

What is the definition of a recession?

GDP still grew even if you take out the rebate checks.

ECB and the BOE already has pumped huge amounts of liquidity into their markets, as well as opening up even more lending facilities than the Fed.

 

[StageLeft]

Originally posted by: LegendKiller

Originally posted by: Engineer

Originally posted by: ntdz
And yet Europe is in the midst of recession despite being about a year behind us in terms of where their economies go...and our economy grew at 3.3% last quarter...

Take out the 168 billion in "borrowed" stimulus checks and see how much the economy grew last quarter, LOL!

Besides, I'm not sure what GDP growth has to do with being in a recession or not...that's not the definition of a recession and has little to nothing to determine whether we are in one or not. We'll know about 6 months after the fact whether we were/are in a recession or not.

And finally, I don't see the European government giving a 700 billion bailout to their banks, at least not yet. Maybe they will have to later, but probably not.

What is the definition of a recession?

GDP still grew even if you take out the rebate checks.

ECB and the BOE already has pumped huge amounts of liquidity into their markets, as well as opening up even more lending facilities than the Fed.

How much did it grow minus rebate checks and against inflation?

 

[Engineer]

Originally posted by: LegendKiller

Originally posted by: Engineer

Originally posted by: ntdz
And yet Europe is in the midst of recession despite being about a year behind us in terms of where their economies go...and our economy grew at 3.3% last quarter...

Take out the 168 billion in "borrowed" stimulus checks and see how much the economy grew last quarter, LOL!

Besides, I'm not sure what GDP growth has to do with being in a recession or not...that's not the definition of a recession and has little to nothing to determine whether we are in one or not. We'll know about 6 months after the fact whether we were/are in a recession or not.

And finally, I don't see the European government giving a 700 billion bailout to their banks, at least not yet. Maybe they will have to later, but probably not.

What is the definition of a recession?

GDP still grew even if you take out the rebate checks.

ECB and the BOE already has pumped huge amounts of liquidity into their markets, as well as opening up even more lending facilities than the Fed.

1. I don't know the definition other than it's not two consecutive quarters of negative growth that is spread around the internet. There is a review board that determines whether we are in a recession or not and they look at a large variety of factors. It's reported that they also determine whether we are/were in a recession about 6 months after the fact, as was the case for the 2001 recession.

2. GDP still grew and I never clamined otherwise. It did not grow 3.3% however.

3. The "government", as I have stated, has not had to pump a taxpayer bailout into the system (yet, as I mentioned).

 

[Young Grasshopper]

Originally posted by: Engineer

Originally posted by: LegendKiller

Originally posted by: Engineer

Originally posted by: ntdz
And yet Europe is in the midst of recession despite being about a year behind us in terms of where their economies go...and our economy grew at 3.3% last quarter...

Take out the 168 billion in "borrowed" stimulus checks and see how much the economy grew last quarter, LOL!

Besides, I'm not sure what GDP growth has to do with being in a recession or not...that's not the definition of a recession and has little to nothing to determine whether we are in one or not. We'll know about 6 months after the fact whether we were/are in a recession or not.

And finally, I don't see the European government giving a 700 billion bailout to their banks, at least not yet. Maybe they will have to later, but probably not.

What is the definition of a recession?

GDP still grew even if you take out the rebate checks.

ECB and the BOE already has pumped huge amounts of liquidity into their markets, as well as opening up even more lending facilities than the Fed.

1. I don't know the definition other than it's not two consecutive quarters of negative growth that is spread around the internet. There is a review board that determines whether we are in a recession or not and they look at a large variety of factors. It's reported that they also determine whether we are/were in a recession about 6 months after the fact, as was the case for the 2001 recession.

2. GDP still grew and I never clamined otherwise. It did not grow 3.3% however.

3. The "government", as I have stated, has not had to pump a taxpayer bailout into the system (yet, as I mentioned).

What are you going to say next, that the fundamentals of our economy are 'strong'?

 

[Engineer]

Originally posted by: Young Grasshopper

What are you going to say next, that the fundamentals of our economy are 'strong'?

LOL, far from it. I work in the automotive industry (sadly) if you have to ask. From where I'm sitting, it looks piss poor and built on one bubble after another. It may not be the worst ever, but it's far from being a good one, IMO.

 

[Butterbean]

"Banks on the Continent have steered clear of risky subprime-style mortgage lending"


Those banks didn't have the Community Reinvestment Act and groups like ACORN blackmailing them into giving loans to bad credit risks and illegal aliens

 

[LegendKiller]

Originally posted by: Engineer

Originally posted by: LegendKiller

Originally posted by: Engineer

Originally posted by: ntdz
And yet Europe is in the midst of recession despite being about a year behind us in terms of where their economies go...and our economy grew at 3.3% last quarter...

Take out the 168 billion in "borrowed" stimulus checks and see how much the economy grew last quarter, LOL!

Besides, I'm not sure what GDP growth has to do with being in a recession or not...that's not the definition of a recession and has little to nothing to determine whether we are in one or not. We'll know about 6 months after the fact whether we were/are in a recession or not.

And finally, I don't see the European government giving a 700 billion bailout to their banks, at least not yet. Maybe they will have to later, but probably not.

What is the definition of a recession?

GDP still grew even if you take out the rebate checks.

ECB and the BOE already has pumped huge amounts of liquidity into their markets, as well as opening up even more lending facilities than the Fed.

1. I don't know the definition other than it's not two consecutive quarters of negative growth that is spread around the internet. There is a review board that determines whether we are in a recession or not and they look at a large variety of factors. It's reported that they also determine whether we are/were in a recession about 6 months after the fact, as was the case for the 2001 recession.

2. GDP still grew and I never clamined otherwise. It did not grow 3.3% however.

3. The "government", as I have stated, has not had to pump a taxpayer bailout into the system (yet, as I mentioned).

1. It's not a internet metric. I have read it in various textbooks as a loose, traditional, benchmark. Nobody just calls a recession that I have ever heard of. Please link to this "review board".

2. If you want to caveat the numbers, then do so.

3. The "government" has bailed them out. Both the BOE and ECB have taken huge steps to "bail out" entities, BOE took control of several companies. ECB has done what it always does, subsidize them, similar to Airbus subsidies. Both have pumped liquidity.

 

[miketheidiot]

Originally posted by: Butterbean
"Banks on the Continent have steered clear of risky subprime-style mortgage lending"


Those banks didn't have the Community Reinvestment Act and groups like ACORN blackmailing them into giving loans to bad credit risks and illegal aliens

Europeans don't debt finance housing. Mortgages aren't a problem when people don't take out mortgages. Mortgages are primarily an anglo/american trend.

what mortgage losses they took are primarily from buying securities or from their involvement in american finance.

 

[GTaudiophile]

Originally posted by: miketheidiot

Originally posted by: Butterbean
"Banks on the Continent have steered clear of risky subprime-style mortgage lending"


Those banks didn't have the Community Reinvestment Act and groups like ACORN blackmailing them into giving loans to bad credit risks and illegal aliens

Europeans don't debt finance housing. Mortgages aren't a problem when people don't take out mortgages. Mortgages are primarily an anglo/american trend.

what mortgage losses they took are primarily from buying securities or from their involvement in american finance.

As far as Germany is concerned, 70% of their population rents.

American Dream = American Disaster?

 

[JS80]

Originally posted by: LegendKiller

Originally posted by: Engineer

Originally posted by: LegendKiller

Originally posted by: Engineer

Originally posted by: ntdz
And yet Europe is in the midst of recession despite being about a year behind us in terms of where their economies go...and our economy grew at 3.3% last quarter...

Take out the 168 billion in "borrowed" stimulus checks and see how much the economy grew last quarter, LOL!

Besides, I'm not sure what GDP growth has to do with being in a recession or not...that's not the definition of a recession and has little to nothing to determine whether we are in one or not. We'll know about 6 months after the fact whether we were/are in a recession or not.

And finally, I don't see the European government giving a 700 billion bailout to their banks, at least not yet. Maybe they will have to later, but probably not.

What is the definition of a recession?

GDP still grew even if you take out the rebate checks.

ECB and the BOE already has pumped huge amounts of liquidity into their markets, as well as opening up even more lending facilities than the Fed.

1. I don't know the definition other than it's not two consecutive quarters of negative growth that is spread around the internet. There is a review board that determines whether we are in a recession or not and they look at a large variety of factors. It's reported that they also determine whether we are/were in a recession about 6 months after the fact, as was the case for the 2001 recession.

2. GDP still grew and I never clamined otherwise. It did not grow 3.3% however.

3. The "government", as I have stated, has not had to pump a taxpayer bailout into the system (yet, as I mentioned).

1. It's not a internet metric. I have read it in various textbooks as a loose, traditional, benchmark. Nobody just calls a recession that I have ever heard of. Please link to this "review board".

2. If you want to caveat the numbers, then do so.

3. The "government" has bailed them out. Both the BOE and ECB have taken huge steps to "bail out" entities, BOE took control of several companies. ECB has done what it always does, subsidize them, similar to Airbus subsidies. Both have pumped liquidity.

How dare you present facts

 

[Engineer]

Originally posted by: LegendKiller


1. It's not a internet metric. I have read it in various textbooks as a loose, traditional, benchmark. Nobody just calls a recession that I have ever heard of. Please link to this "review board".

2. If you want to caveat the numbers, then do so.

3. The "government" has bailed them out. Both the BOE and ECB have taken huge steps to "bail out" entities, BOE took control of several companies. ECB has done what it always does, subsidize them, similar to Airbus subsidies. Both have pumped liquidity.

1. Click me.. My apologies, I called it a "board" when in fact, it's called a bureau.

recession is a contraction phase of the business cycle. The U.S. based National Bureau of Economic Research (NBER) defines a recession more broadly as "a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales."[1] A sustained recession may become a depression.

Newspapers often quote the rule of thumb that a recession occurs when real gross domestic product (GDP) growth is negative for two or more consecutive quarters. This measure fails to register several official (NBER defined) US recessions.[2]

2. I'm not caveating the numbers, the number is 3.3%, but without the 168 billion stimulus (borrowed money), it would have been lower, period.

3. If the above involves money at the taxpayers expense (borrowing for a bailout), I'll state that I'm wrong. I said "taxpayer" supplied bailout. If it were a government "taxpaid" bailout, then I stand corrected.

 

[StageLeft]

Originally posted by: GTaudiophile

Originally posted by: miketheidiot

Originally posted by: Butterbean
"Banks on the Continent have steered clear of risky subprime-style mortgage lending"


Those banks didn't have the Community Reinvestment Act and groups like ACORN blackmailing them into giving loans to bad credit risks and illegal aliens

Europeans don't debt finance housing. Mortgages aren't a problem when people don't take out mortgages. Mortgages are primarily an anglo/american trend.

what mortgage losses they took are primarily from buying securities or from their involvement in american finance.

As far as Germany is concerned, 70% of their population rents.

American Dream = American Disaster?

That sounds crappy to me!

 

[CanOWorms]

The world loses whenever Europe wins.

 

[Firebot]

Originally posted by: ntdz
And yet Europe is in the midst of recession despite being about a year behind us in terms of where their economies go...and our economy grew at 3.3% last quarter...

http://indexmundi.com/g/g.aspx?v=66&c=us&l=en

<a target=_blank class=ftalternatingbarlinklarge href="https://www.cia.gov/libr.........elds/2003.html"><a target=_blank class=ftalternatingbarlinklarge href="https://www.cia.gov/library......k/fields/2003.html"><a target=_blank class=ftalternatingbarlinklarge href="https://www.cia.gov/library/pu...tbook/fields/2003.html"><a target=_blank class=ftalternatingbarlinklarge href="https://www.cia.gov/library/publications/the-world-factbook/fields/2003.html">https://www.cia.gov/l............3.html</a></a></a></a>

Germany, France are about on par to the US, and the UK is higher. The EU as a whole was at 3%. This is in 2007. The US in 2007 had a GDP of 2.2%. You can't just take one quarter and use that as a measure of yearly GDP...

The government is handing out a 700 billion dollar bailout to try to stop the economy from going in a freefall. Just to give you an idea of just how insane this number is, the war in Iraq in its entirity was less, and we all know how much criticizing that got. Why people are trying to rationalize that the US is in fine shape while such a thing is happening is beyond me.

If Europe is in a recession, then what's happening to the US?

 

[GTaudiophile]

Oh, and they hate us even more now.

 

[Stunt]

Manulife Financial - one of Canada's largest financial companies is looking at buying some of AIG's assets.
The only problem is they have no idea to value these companies; but the vultures are circling what's left of these massive companies.

 

[CanOWorms]

Originally posted by: Firebot

Originally posted by: ntdz
And yet Europe is in the midst of recession despite being about a year behind us in terms of where their economies go...and our economy grew at 3.3% last quarter...

http://indexmundi.com/g/g.aspx?v=66&c=us&l=en

<a target=_blank class=ftalternatingbarlinklarge href="https://www.cia.gov/l............/2003.html"><a target=_blank class=ftalternatingbarlinklarge href="https://www.cia.gov/libr.........elds/2003.html"><a target=_blank class=ftalternatingbarlinklarge href="https://www.cia.gov/library......k/fields/2003.html"><a target=_blank class=ftalternatingbarlinklarge href="https://www.cia.gov/library/pu...tbook/fields/2003.html"><a target=_blank class=ftalternatingbarlinklarge href="https://www.cia.gov/library/publications/the-world-factbook/fields/2003.html">https://www.cia.gov/l............ml</a></a></a></a></a>

Germany, France are about on par to the US, and the UK is higher. The EU as a whole was at 3%. This is in 2007. The US in 2007 had a GDP of 2.2%. You can't just take one quarter and use that as a measure of yearly GDP...

The government is handing out a 700 billion dollar bailout to try to stop the economy from going in a freefall. Just to give you an idea of just how insane this number is, the war in Iraq in its entirity was less, and we all know how much criticizing that got. Why people are trying to rationalize that the US is in fine shape while such a thing is happening is beyond me.

If Europe is in a recession, then what's happening to the US?

He's talking about 2008, you are talking about 2007. Your data is old.

 

[CanOWorms]

Originally posted by: GTaudiophile
Oh, and they hate us even more now.

good

Hopefully the sheep who still believe that Europeans are our allies will see the truth.