tag:blogger.com,1999:blog-9040807413744183436.post7948770080299881877..comments2023-10-23T00:53:05.301-04:00Comments on Heretic: Can Ireland exit EU and join US?Stan Bleszynskihttp://www.blogger.com/profile/03922719716458272303noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-9040807413744183436.post-68705008767184765122010-10-28T13:03:22.395-04:002010-10-28T13:03:22.395-04:00http://www.reuters.com/article/idUSLDE69R1AV201010...http://www.reuters.com/article/idUSLDE69R1AV20101028<br /><br />State owned Anglo Irish asking bondholders to take haircut.<br /><br />Mark.Markhttps://www.blogger.com/profile/16922415954626790524noreply@blogger.comtag:blogger.com,1999:blog-9040807413744183436.post-29254245678819237942010-10-25T23:42:13.807-04:002010-10-25T23:42:13.807-04:00Absolutely! I supect that the real trigger will...Absolutely! I supect that the real trigger will be something totally unexpected, a natural disater or something like that. They are prepared with their money and credit printing presses, with their lawyers to neutralize all impending drrivatives or CDS'es by twisting the rules in their favor. I nearly lost on my best puts in 2008 because they dissolved one bank so quickly giving me only 1 day (in fact only 15 minuts before the closing day) to cash my good option! They do use tricks against me, you other investors or against anyone who is trying to make a living by working and saving capital. But they cannot predict the future and Mother Nature will hit these government & banking crooks the way they never expected - they will be totally unprepared! 8-:)<br /><br />Stan<br /><br /><i>Paper currency always sooner or later attains it's intrinsic value - zero! Voltaire</i>Stan Bleszynskihttps://www.blogger.com/profile/03922719716458272303noreply@blogger.comtag:blogger.com,1999:blog-9040807413744183436.post-20945656106200581992010-10-25T21:18:44.721-04:002010-10-25T21:18:44.721-04:00"[shocking economic heresy=on] You have to ac..."[shocking economic heresy=on] You have to actually _produce_ something that other people would buy and charge competitive prices for that. [shocking economic heresy=off]"<br /><br />That's the problem with using GDP as a marker of economic activity. As long as you can keep expanding money supply, GDP goes up. You expand money supply through debt, and fractional reserving it into existence, or through printing. Little genuine necessary business is a part of it. But the numbers look good.<br /><br />I think the debts will have to be restructured at one point or another. Or defaulted upon. Either will cause derivitive contracts to become active. That will be a problem for the market as people will need to liquidate to make payments, and also, people won't want to lend and since everything is denominated in USD, USD will be scarce from an accessibility standpoint and USD will go up and automatically send the US markets down and everything priced in USD down. <br /><br />Ireland should develop its natural resource based industry right now through grants and incentives, then default. Spend money you don't have, then default on your IOUs.<br /><br />I'm expecting the economy to rally as US, Japan, England and China print money until the next major crash which I think will be triggered via sovereign debt restructuring, or corporate bankruptcy. Could be Ireland. The US mortgage mess isn't over and lawsuits are just beginning but that might not be the catalyst.<br /><br />Mark.Markhttps://www.blogger.com/profile/16922415954626790524noreply@blogger.com