paulfish4570
Veteran
hilarious, Valdas, on the bernie thing ... 🙂
hilarious, Valdas, on the bernie thing ... 🙂
Interestingly, when Germany and France were unable to meet the fiscal rules, they were amended, so maybe it depends on who you are 🙄
Quote Calzone
'Also know that many wealthy people who are not Americans are laundering money and setting up what effectively are "bunkers" for themselves for when their home countries eventually fail. Shell companies are set up and LLC's so that properties and assets can not be confiscated by foreign governments. Of course these acquisition of hard assets and real estate mean a lot of currency conversion and currently some of the more stable currencies are the U.S. Dollar and the British Pound.
...
Part of the valuation has to do with interest rates (zero interest rates or even negative interest rates), and the perceived state of a country's economy, but that is all in relation to other countries and their respective currencies. It is all relative. The U.S. economy is not that strong, but it is doing better than the rest of the world. The British economy is looked upon in the same way as ours: not strong, but stronger than others.'
Para 1: Whoa - that's a robust claim, going far beyond the idea that the wealthy are able to align selfishness with the ability to financially protect themselves. Particularly, in the context of Americans not needing/choosing to do the same. Given the sheer scale of America's net debt, it's position as the world's reserve currency may not be all that stable and I'm not convinced that Americans have any greater claim to high moral standards than any other nation - certainly American business doesn't.
Para 2: My humble opinion is that there are many clouds gathered on the world economic stage, and that they are not gathered for good. In terms of the EU referendum, I hope that we Brits will vote to remain, if only because the problems we face are better faced together than apart.
Mike
I got that from the big debate that happened on the BBC where a conservative for leave said that since the UK is a big customer for German and French companies once out they should make pressure on their governments to allow free trade because it's in their interest as well.
Hey, Cal, stop bringing facts and logic into it. Too many people are unable to handle either.Mike,
I by no means am saying that Americans or the U.S. are any better: I know we are part of the problem and can take some blame for having created many of them. My appologies to the world for for the suffering that has been created by my government.
What I report is not an invention. Many Russian Rubles and Chinese Yuan have bought Dollars and Pounds to buy luxury real estate where ownership is some LLC so ownership can not be traced or confiscated by foreign governments. There are entire blocks on the Upper East Side on or near 5th Avenue where people only live there for 3 months of a year. Now 57th Street is called Billionaire's Row where the tallest residential building in North America presides.
There are certain cities in the world beside London and NYC like Zurich and Monaco that allow/condone this bunkering that I speak of. All of these places are financial/banking centers where governments make it easy for people to hide wealth.
Stability is relative. I agree that the U.S. Dollar can not count on being a reserve currency indefinitely during a time of currency wars. New York City, a city of immigrants where 200 languages are spoken, happens to be one of the safest cities in the world. London is also a very safe city. The U.S. surely has a debt problem, yet our debt to GNP ratio is still better than say Japan.
Check out the ultra luxury housing markets in London and NYC. My statement is not bold at all it is just connecting the dots. What would you do if you were a billionaire from an unstable country? What would you do to preserve your wealth? What cities would allow you to maintain your prosperity? What countries have the military to protect your interests and assets?
Recently my girlfriend who is a fashion blogger was interviewed and videotaped in a 58.5 million dollar penthouse that had about 7600 interior square feet and about 3000 square feet of terrace that had unobstructed views of midtown Madhattan. Anyways it was obscene.
The complexity involved muddles understanding. I am greatful for the engagement. One thing to add to the discussion is that a growing population is necessary to have an expanding economy. Here in the U.S. we do not have a sustainable birth rate, and immigration has allowed our population to grow to be the third most populated country in the world.
Europe, the U.S. and Japan all have aging populations, so important economic demographics that effect productivity, GNP, and consumerism are all profoundly effected by the above demographic. I know that immigration is the key that makes NYC great. Without immigration and with a negative reproduction rate below 2.0 how will we sustain our countries without immigration?
Another thing to consider that might be a bad example is NAFTA that made Canada and Mexico the biggest trading partners with the U.S. Perhaps a much simpler and less complicated than the E.U. but on the scale of a continent. Mexico became the 11th largest economy in the world by some reports with an economy that now is larger than France.
If Trump gets elected, and if he is able to build his "wall" it is ironic that it would prevent the reverse migration that has been happening since the credit crisis where Mexicans that were illegals in the U.S. have returned to Mexico for better opportunities in their home country.
Also want to say that many immigrants and particularly illegal immigrants perform the jobs that Americans don't want. This is not to say or denigh that NAFTA exported manufacturing jobs and helped dissolve the power of unions.
Cal
1) Regarding Christianity, it took 500 years of religious wars and three or four bloody revolutions to put them at their place and enjoy the religious freedom of Western Europe, it appears that many European born muslims don't get the concept of "secular government" that well.
Dear Cal,W,
I recently read James A. Mitchner's historical novel titled "Poland."
Let's not forget the Teutonic Knights. Poland was invaded and conquered even though they were already firmly a Christian country. That is part of the 500 years of religious wars if you count part of Eastern Europe (Poland).
Cal
Hey, Cal, stop bringing facts and logic into it. Too many people are unable to handle either.
Others of us greatly admire the way you have told the truth in this thread but I fear it will not convert many. Do you know the old saying, "My mind is made up. Do not confuse me with the facts."
Cheers,
R.
Exactly. That is another good point - in Eastern Europe governments spend a lot of money to train and educate nurses and doctors (using local tax payers money). Then those nurses and doctors go to Norway, Sweden, UK because of 5 or 10 times higher salaries. Somehow this argument is easily "overlooked". In a way those richer countries put a very serious strain on national budgets of Eastern European countries - not only by qualified labour force drain, lost investments to educate those people, but also by putting significant wage inflation pressure - it's very difficult to keep people locally when they can easily go somewhere else within EU and earn more. I guess the expectations of free movement was that EU will help the covergence of living standards in this way, but if each country wants to cherry pick then it is a lose-lose game.
Hi,
And British doctors, dentists and nurses go to the USA and so on. I reckon that the only way to stop immigration is to ban emigration.
Regards, David
Hi,
And British doctors, dentists and nurses go to the USA and so on. I reckon that the only way to stop immigration is to ban emigration.
Regards, David
I don't know what amended means, but Germany, France and Italy together pay more than half of the "subscription fees" for the EU-party. All the EU countries may have one equal vote, but in some aspects they are not the same.
From my observation, if the UK is already not in the Euro zone, then there is nothing else that cannot be solved by bilateral or multilateral treaties. That's how it works with Canada, the U.S., and Mexico with NAFTA - and it's how the US negotiates with Europe. Between developed countries, tariffs are actually pretty low.
But are there any signals that local politicians (both from leave and remain camps) are inclined to drive such a change in the above mentioned balance in UK? To me looking from outside UK is the closest to US (in contrast to continental Europe and especially Nordics) in terms of favoring capital over labour... I might be wrong though...
Dear Peter,The photography content of this thread has been underwhelming.
Emotions rather than fact tend to drive these debates, which is also the main reason why Brexit should not have been put to a referendum in the first place: the complexity of 'in' or 'out' cannot be captured in a 'yes' or 'no' vote.
Finally a link to the largest net contributors (absolute not per capita) for 2013 where the UK is second to Germany. I'm sure this is a moveable feast and will change from year to year.
http://www.telegraph.co.uk/news/new...w-much-does-Britain-pay-to-the-EU-budget.html