LOL at Ninja!
Keep 'em comin.'
Sylvia
Is Britain on the brink of financial armageddon?
by Hopscotch 65 Replies latest social current
-
-
ninja
you know oddbins sylv?
-
Mickey mouse
ROFL @ Besty and ninja.
-
leavingwt
Money will be spent to help fight climate change. . .
The European Union on Friday pledged 7.2 billion euros (10.6 billion dollars) to help poor nations battle global warming, upping the stakes at the UN climate summit.
The money, to be spent over three years, ramps up pressure on rich countries to do more at the summit where a text of a draft statement sets a target of limiting global warming to 1.5 or 2.0 degrees Celsius (2.7 or 3.6 degrees Fahrenheit).
The EU money was immediately welcomed in Copenhagen. "The fact that Europe is going to put a figure on the table will, I think, be hugely encouraging to the process," said UN climate chief Yvo de Boer.
"We will then have to see what other rich countries are going to put on the table," he said.
At the EU summit in Brussels, British Prime Minister Gordon Brown called the European accord "a very significant move forward in the search for a Copenhagen agreement".
Britain is pledging 1.2 billion pounds (1.3 billion euros, two billion dollars) -- more than any other EU member state -- despite Britain weathering its worse recession in decades.
http://www.google.com/hostednews/afp/article/ALeqM5iWvZAYKusivLhEk9rcGO6Boh0a3A
-
donny
So if all these countries are borrowing from other countries. who are the countries that have this money to lend?
Donny
-
Satanus
It's all pretend. They all need to keep up the pretense, for it to keep working. When enough of them get tired of pretending, then karmageddon comes. 'Course, a new game starts right afterwards. But, it has different rules than the old game. It causes a lot of discomfort for the old fat cats who are used to lying comfortably without moving for months at a time. It musses their matted fur, even more.
S
-
leavingwt
Donny,
So if all these countries are borrowing from other countries. who are the countries that have this money to lend?
Please allow me to answer that question, by the use of an illustration.
--------------------
It's a slow day in a small Vermont town and streets are deserted. Times are tough, everybody is in debt, and everybody is living on credit. A rich tourist drives through town, stops at the motel, and lays a $100 bill on the desk saying he wants to inspect the rooms upstairs to pick one for the night.
As soon as he walks upstairs, the owner grabs the bill and runs next door to pay his debt to the butcher.
The butcher takes the $100 and runs down the street to retire his debt to the pig farmer.
The pig farmer takes the $100 and heads off to pay his bill to his supplier, the Farmer's Co-op.
The guy at the Farmer's Co-op takes the $100 and runs to pay his debt to the local prostitute, who has also been facing hard times and has had to offer her "services" on credit.The hooker rushes to the hotel and pays off her room bill with the hotel owner.
The hotel proprietor then places the $100 back on the counter so the rich traveler will not suspect anything.
At that moment the traveler comes down the stairs, states that the rooms are not satisfactory, picks up the $100 bill and leaves town.
No one produced anything. No one earned anything. However, the whole town is now out of debt and now looks to the future with a lot more optimism. -
-
Robdar
I like your tale, LWT. Too bad the market has gone global.
-
leavingwt
UK Daily Mail. . .
Collapse of the euro is 'inevitable': Bailing out the Greek economy futile, says FRENCH banking chief
The European single currency is facing an 'inevitable break-up' a leading French bank claimed yesterday.
Strategists at Paris-based Société Générale said that any bailout of the stricken Greek economy would only provide 'sticking plasters' to cover the deep- seated flaws in the eurozone bloc.
The stark warning came as the euro slipped further on the currency markets and dire growth figures raised the prospect of a 'double-dip' recession in the embattled zone.. . .