Global Debt Time Bomb explodes soon

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Re: Global Debt Time Bomb explodes soon

Post by sheddi » Sat Jun 25, 2016 11:47 am

If you're interested in who voted which way in the Brexit referendum there's a detailed analysis here:
http://lordashcroftpolls.com/2016/06/ho ... more-14746

It uses British terms for things which aren't always the same as those used in the US or elsewhere.
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Re: Global Debt Time Bomb explodes soon

Post by Stercutus » Sat Jun 25, 2016 12:55 pm

More than half of those retired on a private pension voted to leave, as did two thirds of those retired on a state pension.
I am gonna say that given everything in Greece that is a telling statistic.
White voters voted to leave the EU by 53% to 47%. Two thirds (67%) of those describing themselves as Asian voted to remain, as did three quarters (73%) of black voters. Nearly six in ten (58%) of those describing themselves as Christian voted to leave; seven in ten Muslims voted to remain.
Something is not quite right here.This means that all non-white voters accounted for less than 3% of the total vote. Asians account for nearly 10% of the population in the UK and 3% black. If the numbers above are correct then the Remain crowd should have easily won; if participation was the same across demographics.
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Re: Global Debt Time Bomb explodes soon

Post by sheddi » Sat Jun 25, 2016 5:41 pm

Stercutus wrote:
More than half of those retired on a private pension voted to leave, as did two thirds of those retired on a state pension.
I am gonna say that given everything in Greece that is a telling statistic.
Or it's a reflection of the age profile of the result. Older people were more likely to vote to Leave; by the time you get to the 60+ age group, most (and at 65+ all) will be receiving a pension.
White voters voted to leave the EU by 53% to 47%. Two thirds (67%) of those describing themselves as Asian voted to remain, as did three quarters (73%) of black voters. Nearly six in ten (58%) of those describing themselves as Christian voted to leave; seven in ten Muslims voted to remain.
Something is not quite right here.This means that all non-white voters accounted for less than 3% of the total vote. Asians account for nearly 10% of the population in the UK and 3% black. If the numbers above are correct then the Remain crowd should have easily won; if participation was the same across demographics.[/quote]
I don't think your conclusions necessarily follow the stats you quote, especially as the %ages listed will have been rounded and the White electorate is 10x the size of the combined Asian and Black one.

From the 2011 Census:
White: 55,010,359
Asian: 4,373,339
Black: 1,904,684
I'm going to ignore the almost 2M people who are listed with other ethnicities.

If we assume that everyone voted (and that's unlikely to be true), the split becomes (rounded to the nearest whole person):
White: 29,155,490 Leave, 25,854,869 Remain
Asian: 1,443,202 Leave, 2,930,137 Remain
Black: 514,265 Leave, 1,390,419 Remain

Total: 31,112,957 Leave, 30,175,425 Remain, or 50.8% Leave, 49.2% Remain. With the accuracy of the numbers we've got that's close enough to the 51.9:48.1 split recorded in the referendum.

Edit to add:
It's past midnight here and I'm in need of some sleep but if you want to wade through the full survey results they are here:
http://lordashcroftpolls.com/wp-content ... bles-1.pdf
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Re: Global Debt Time Bomb explodes soon

Post by Hiroshima_Morphine » Thu Jun 30, 2016 3:57 pm

On a positive note, well for me at least: silver is up. Thank you older UK voters.

Shedi and Wee: is it true some people in UK are asking for an age cap on voting in wake of Brexit vote? That is being reported in some media circles here in US.
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Re: Global Debt Time Bomb explodes soon

Post by sheddi » Thu Jun 30, 2016 5:27 pm

On a positive note, well for me at least: silver is up. Thank you older UK voters.
I picked up some discount Barratt Developments shares on Tuesday. We'll see how they perform over the coming months/years. When life gives you lemons ...
Hiroshima_Morphine wrote:Shedi and Wee: is it true some people in UK are asking for an age cap on voting in wake of Brexit vote? That is being reported in some media circles here in US.
I've not heard that one!

There's a bit of grumbling that 16- and 17-year-olds weren't allowed to vote (they were allowed to in the recent Scottish independence referendum), and some observers have noted that by the time this all gets settled in 2018 (or later) enough of the older voters will have died that, assuming no-one changes their mind, the demographics will have shifted in favour of the EU, but I've not heard any serious suggestions that the over-80s (say) should be disenfranchised.
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Re: Global Debt Time Bomb explodes soon

Post by absinthe beginner » Thu Jun 30, 2016 9:00 pm

Meanwhile....

http://www.wsj.com/articles/european-co ... iew_latest

BRUSSELS—The European Commission on Sunday authorized Italy to use government guarantees to provide liquidity support to its banks, a spokeswoman said, disclosing the first intervention by a European Union government into its banking system following the U.K. vote to leave the EU.

The June 23 referendum sparked a steep sell-off in banking stocks followed by intense volatility this week. That has exacerbated already existing troubles in the Italian banking sector, which is suffering from high levels of bad loans and poor profitability amid super-low interest rates.

The Italian liquidity-support program includes up to EUR150 billion in government guarantees, said an EU official. Several other European countries with weak financial systems already have similar support systems in place.

The commission spokeswoman declined to comment on the amount of guarantees that were authorized, but said that the budget requested by the Italian government had been found to be proportionate. The Italian economy ministry declined to comment.

Only solvent banks would qualify for the liquidity support, which will run until the end of the year. “There is no expectation that the need to use this scheme should arise,” the commission spokeswoman said.

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Re: Global Debt Time Bomb explodes soon

Post by Hiroshima_Morphine » Thu Jun 30, 2016 11:10 pm

sheddi wrote:
On a positive note, well for me at least: silver is up. Thank you older UK voters.
I picked up some discount Barratt Developments shares on Tuesday. We'll see how they perform over the coming months/years. When life gives you lemons ...
Hiroshima_Morphine wrote:Shedi and Wee: is it true some people in UK are asking for an age cap on voting in wake of Brexit vote? That is being reported in some media circles here in US.
I've not heard that one!

There's a bit of grumbling that 16- and 17-year-olds weren't allowed to vote (they were allowed to in the recent Scottish independence referendum), and some observers have noted that by the time this all gets settled in 2018 (or later) enough of the older voters will have died that, assuming no-one changes their mind, the demographics will have shifted in favour of the EU, but I've not heard any serious suggestions that the over-80s (say) should be disenfranchised.
Glad I asked. I read it on a partisan media source, one I usually consider reliable.... But that seemed to be stretching the story a little.
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Re: Global Debt Time Bomb explodes soon

Post by wee drop o' bush » Fri Jul 01, 2016 11:42 am

Hiroshima_Morphine wrote:On a positive note, well for me at least: silver is up. Thank you older UK voters.

Shedi and Wee: is it true some people in UK are asking for an age cap on voting in wake of Brexit vote? That is being reported in some media circles here in US.
I've heard the odd grumble about this, but it's just grouching and bellyaching IMHO. I know a few young Brexit voters, and a few older Remain voters.
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Re: Global Debt Time Bomb explodes soon

Post by TacAir » Sat Jul 02, 2016 10:38 pm

Just for fun:

On Friday, June 24, in the aftermath of the shocking Brexit vote, the Dow fell 600 points and the world markets were pummeled. That date is seven years, seven months, seven weeks and seven days since September 29, 2008, when the Dow experienced its biggest single-day drop of 777.7 points, or 7 percent.

Something about monkeys and typewriters comes to mind.....
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Re: Global Debt Time Bomb explodes soon

Post by MPMalloy » Sat Jul 02, 2016 10:47 pm

This is weird.

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Re: Global Debt Time Bomb explodes soon

Post by Stercutus » Sun Jul 03, 2016 2:34 am

Its a conspiracy plot between the Rothchildians and the NWO people.
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Re: Global Debt Time Bomb explodes soon

Post by flybynight » Sun Jul 03, 2016 4:38 am

Stercutus wrote:Its a conspiracy plot between the Rothchildians and the NWO people.

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Re: Global Debt Time Bomb explodes soon

Post by TacAir » Sun Jul 03, 2016 1:11 pm

I was poking around on the web trying to find any information on rural Venezuela - I have to imagine the gangs are tearing up the countryside....

Turns out, things are just fine. If it wasn't for the Western press lying about everything and pesky CIA, it would be a paradise... No,no - don't take e my word for it -- take a look at this site (note - its run by Socialists)

http://venezuelanalysis.com/tag/food-shortages

"The website started out in Caracas, Venezuela, in mid-2003 but as of early 2008 its writers are all working on the site from their homes in various places in Venezuela, with volunteers contributing from around world.
While the site publishes opinion articles, it also aims for accuracy in the news and facts presented in all articles. Our goal is to be the primary resource for information and analysis on Venezuela in the English language."

Some of Contributors include:
Tamara Pearson, previously a member of the Australian Socialist Alliance and collaborator with Green Left Weekly, has been living in Merida, Venezuela, since 2007. She is active in the Bolivarian revolution, including as a spokesperson for her communal council, collaborating in an alternative education project, writing a thesis on "Creative writing as a process of empowerment in the context of alternative education" through Venezuela's Open Studies University (UPTEM), and working with other movements such as the Great Patriotic Pole (GPP). She has been writing for and working with venezuelanalysis.com since 2008.

IOW - Sorta like Radio Habana Cuba -- only on the internet. It is worth some of your time to read, to understand the dynamics involved, if nothing else.

I found it to be...amusing. Some of these folks could be writing for some of the major US networks, if you get my drift.

It's not just Latin based socialist reporting that says the problems are 'exaggerated' The Nation (A Progressive, not Socialist website) had this to say on the crisis..

https://www.thenation.com/article/how-s ... as-crisis/

"It’s deep but not cataclysmic, and mainstream US media have consistently exaggerated the extent of it." Read the link for details.
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Re: Global Debt Time Bomb explodes soon

Post by teotwaki » Mon Jul 04, 2016 10:01 am

I would not be surprised that media outlets would sensationalize anything. What I wonder about is that so many outlets in the US are pretty much socialist shills and I would think that they might be pushing a more favorable view of Venezuela. On that note we do not have the CIA of old and with the current administration I don't see the CIA actively working towards regime change in Venezuela.
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Re: Global Debt Time Bomb explodes soon

Post by Hiroshima_Morphine » Mon Jul 04, 2016 6:38 pm

teotwaki wrote:I would not be surprised that media outlets would sensationalize anything. What I wonder about is that so many outlets in the US are pretty much socialist shills and I would think that they might be pushing a more favorable view of Venezuela. On that note we do not have the CIA of old and with the current administration I don't see the CIA actively working towards regime change in Venezuela.
Back in my day, we funded and armed contras in Central America to fight communism..... Now we buy our oil from Central American Communist and fuel our cars at Citgo because their economic system allows them to under cut free-market oil.

But this post isn't political at all. :ohdear:
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Re: Global Debt Time Bomb explodes soon

Post by raptor » Mon Jul 04, 2016 7:10 pm

Hiroshima_Morphine wrote:
Now we buy our oil from Central American Communist and fuel our cars at Citgo because their economic system allows them to under cut free-market oil.
Oil and gasoline are fungible items and oil prices are set by the world market. It has been estimated that the Saudi cost of production is the lowest cost of the producer states.

IIRC Canada supplied more imported oil than Mexico and Venezuela combined. This is due in no small part to the US fracking industry which has until recently significantly impacted foreign oil imports.

http://www.zerohedge.com/news/2016-05-0 ... et-its-oil
Hiroshima_Morphine wrote: But this post isn't political at all. :ohdear:
Please lets stay away from politics.
Last edited by raptor on Mon Jul 04, 2016 7:19 pm, edited 2 times in total.

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Re: Global Debt Time Bomb explodes soon

Post by Hiroshima_Morphine » Mon Jul 04, 2016 7:14 pm

raptor wrote:
Hiroshima_Morphine wrote:
Now we buy our oil from Central American Communist and fuel our cars at Citgo because their economic system allows them to under cut free-market oil.
Oil and gasoline are fungible items and oil prices are set by the world market. It has been estimated that the Saudi cost of production is the lowest cost of the producer states.
Hiroshima_Morphine wrote: But this post isn't political at all. :ohdear:
Please lest stay away from politics.
Guilty again. :)

The community as a whole seems to struggle with it. I think we need a support group. ;)
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Re: Global Debt Time Bomb explodes soon

Post by teotwaki » Tue Jul 05, 2016 12:38 pm

Hiroshima_Morphine wrote:
The community as a whole seems to struggle with it. I think we need a support group. ;)
Yes! I'm a survivalist and I need help! :mrgreen:

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Re: Global Debt Time Bomb explodes soon

Post by absinthe beginner » Wed Jul 06, 2016 7:54 pm

http://wolfstreet.com/2016/07/06/deutsc ... -buybacks/

Deutsche Bank – “the most important net contributor to systemic risks,” as the IMF put it last week after a lag of several years – is having a rough time. Shares dropped 4.2% today to close at a new three-decade low of €11.63, down 48% since July 31 last year, lower even than the low during the doom-and-gloom days of the euro debt crisis and the Global Financial Crisis.

It’s not the only European bank in trouble. Credit Suisse dropped 1.7% today to CHF 9.92, another multi-decade low, down 63% since July 31. Other European banks are getting mauled too. The European Stoxx 600 banking index dropped 3% today to 117.69, approaching the Financial Crisis low of March 2009.

If July 31, 2015, keeps showing up, it’s because this was the propitious day when Draghi’s harebrained experiment with negative interest rates and massive QE came unglued, when European stocks, and particularly European bank stocks began to crash.

Deutsche Bank is so shaky that German Finance Minister Wolfgang Schäuble found it necessary to stick his neck out and explain to Bloomberg in February that he has “no concerns about Deutsche Bank.” Finance ministers don’t say this sort of thing about healthy banks.

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Re: Global Debt Time Bomb explodes soon

Post by Asymetryczna » Thu Jul 07, 2016 5:16 pm

Here is the message that should be preached:

TANSTAAFL
It's not what you look at that matters, it's what you see.
Henry David Thoreau

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Re: Global Debt Time Bomb explodes soon

Post by MPMalloy » Thu Jul 07, 2016 5:45 pm

Asymetryczna wrote:Here is the message that should be preached:

TANSTAAFL

Damn Straight!!!

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Re: Global Debt Time Bomb explodes soon

Post by Hiroshima_Morphine » Thu Jul 07, 2016 8:13 pm

MPMalloy wrote:
Asymetryczna wrote:Here is the message that should be preached:

TANSTAAFL

Damn Straight!!!
Google is my friend.

How is it I have gone my whole life hearing and believing this phrase, but had no clue what that acconym was?
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Re: Global Debt Time Bomb explodes soon

Post by flybynight » Thu Jul 07, 2016 10:16 pm

teotwaki wrote:
Hiroshima_Morphine wrote:
The community as a whole seems to struggle with it. I think we need a support group. ;)
Yes! I'm a survivalist and I need help! :mrgreen:

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Re: Global Debt Time Bomb explodes soon

Post by Asymetryczna » Thu Jul 07, 2016 11:19 pm

Thanks Tac-Air. Great links. In knowing more are we more complicit?
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