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John Duffield
Mountain climber
New York
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Last night, the Italians bailed out another bank and cleaned out the fund. They say they will raid the Pension Funds for the next ones. This should end well.
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Reilly
Mountain climber
The Other Monrovia- CA
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Italian banks - that's right up there with Puerto Rican bonds*.
*They just announced they will default on $779 million worth.
Maybe they would like to become part of Argentina?
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rockermike
Trad climber
Berkeley
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To borrow Berie's phrase... "fraud is not a business strategy". At least not in a functioning society. The banks are all levered up to the hilt to make quick profits... but at the expense of social stability. They say Duetchebank will be the next to go and they are 2.5 times the size of Lehman. We're living in a casino.
Edit:
Re. Deutsche bank. You heard it here first.
http://mobile.reuters.com/article/idUSKCN0ZG1UX
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Jon Beck
Trad climber
Oceanside
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Jul 13, 2016 - 07:30pm PT
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Britain's new Foreign minister, Trumps stunt double
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Reilly
Mountain climber
The Other Monrovia- CA
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Jul 13, 2016 - 09:17pm PT
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Since the Brexit the biggest Italian banks have lost HALF their market cap. What is crazy is
that to take the steps necessary to right their ships would entail contravening EU regs. Talk
about a Catch 22!
In other news 10 years ago European companies comprised 17 of the world's 50 top
companies. Today they are down to 7 and 3 of those are Swiss. Yeah, that EU is really
powering along nicely.
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healyje
Trad climber
Portland, Oregon
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Jul 13, 2016 - 09:29pm PT
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Forming the EU was never going to be easy. But EU countries going it alone against the US and China? Suicide over the long haul.
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Reilly
Mountain climber
The Other Monrovia- CA
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Jul 13, 2016 - 09:35pm PT
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Well, it is suicide if you can't lay people off if there is a business downturn.
That's why it is a nightmare doing business there.
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dirtbag
climber
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Jan 15, 2019 - 04:55pm PT
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Meanwhile, across the pond, Britain is sprinting towards a disaster of its own making.
Maybe it should hold a re-vote?
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Toker Villain
Big Wall climber
Toquerville, Utah
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Jan 15, 2019 - 05:00pm PT
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May really got hammered.
230 more votes!
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Reilly
Mountain climber
The Other Monrovia- CA
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Jan 15, 2019 - 05:08pm PT
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3 days to sort out the 8 or so options. The no deal Brexit is looking more likely.
Of course Red Jeremy The Jew Hater has the motivation to scuttle any reasonable deal.
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August West
Trad climber
Where the wind blows strange
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Jan 15, 2019 - 07:23pm PT
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People get really pissy when reality intrudes on their dreams of eating their cake and having it too.
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Blakey
Trad climber
Sierra Vista
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Jan 16, 2019 - 05:19am PT
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It's getting interesting over here!
All economic estimates, those from within and outside government show that leaving the EU will cause considerable harm to the UK economy, the equal of the recent crash... not good!
There is a real failure in politics, Labour are currently not offering any real alternative and JC is stuck with his personal belief that the EU is bad and that the referendum must be honoured.
It's pretty obvious that Labour wouldn't be able to improve on May's negotiated package (which is bad - we leave, pay, accept constraints, but have no say) All for the illusion of 'sovereignty' which seems to fixate some people to a very high degree, they are the very worrying far right types.
No Deal and trading under WTO rules is a non starter, we will get no help from your President, he will try to screw us to downgrade our food standards and allow US companies to buy there way into the NHS - F**K THAT!
May won't loose the vote tonight, she will survive, she will only go if someone with a wooden stake manages to get into No 10 tonight. This means no General Election. That in turn means Corbyn and his leave acolytes in the Parliamentary Labour Party have an excuse for a second referendum, which hopefully would get more participation and a more definite result one way or the other, so we either leave with No Deal perhaps, or remain.
Steve
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Reilly
Mountain climber
The Other Monrovia- CA
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Jan 16, 2019 - 08:08am PT
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Interesting that The City wasn’t overly bothered today - the FTSE is down only 0.5%.
Perhaps the sky is not falling?
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10b4me
Social climber
Lida Junction
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Jan 16, 2019 - 08:22am PT
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Haven't kept up with this, but if Brexit happens, won't Scotland seek independence? what about Northern Ireland?
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Reilly
Mountain climber
The Other Monrovia- CA
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Jan 16, 2019 - 08:24am PT
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The Scots would be fools to leave the UK and the Prods are joined at the hip.
Jody, things aren’t that bad there, as long as you don’t get on a train or try to park yer car.
I had to pay four bloody quid to park in the dirt at a Nat Trust site in Bumphuk, Cornwall!
Are you kidding me?
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Blakey
Trad climber
Sierra Vista
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Jan 16, 2019 - 08:33am PT
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In the referendum that the Scots held about leaving the Union, it was stressed that the best option they had to stay in the EU, was to stay in the UK. In the recent referendum on the EU, Scotland overwhelmingly voted to stay in the EU......
Now the very government that persuaded them to stay in the UK (and thus the EU) is looking to pull them out of the EU in which they desperately want to remain.
The Scots are understandably pissed off and have every reason to hold another referendum on leaving the UK. That said their being able to rejoin the EU would not be without its own problems.
It is an unimaginable mess whichever way you look at it.
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StahlBro
Trad climber
San Diego, CA
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Jan 16, 2019 - 08:41am PT
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Seems like both the UK and the US got duped by the false gods of nationalism and isolationism.
Methinks there is a game afoot.
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Reilly
Mountain climber
The Other Monrovia- CA
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Jan 16, 2019 - 09:11am PT
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The markets absolutely abhor uncertainty hence the FTSE has spent 9 months ‘pricing in’
Brexit by falling 18%.
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Sredni Vashtar
Social climber
California
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Jan 16, 2019 - 10:51am PT
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The greatest tragedy is that the vote to leave was really just a protest at globalization and the disenfranchised of the UK. Now the voters know what a Brexit will look like there should be a second vote. This rhetoric that the nation voted once and therefore its set in stone for eternity is utter tripe. The EU has flaws but people of my age (41) and younger do (mostly) choose it over the alternative.
I used to be so proud of being British, a hugely accomplished, innovative, pragmatic people whose impact on civilization has far exceeded its size. Now we are just a red banner tabloid nation, reactionary, vapid and downright embarrassing drunken uncle of an island.
added: And Gove has the most punchable face in politics
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Reilly
Mountain climber
The Other Monrovia- CA
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Jan 16, 2019 - 11:23am PT
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^^^^ HaHaHa! It’s da bomb! Game of Scones!
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