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Luke4LSU 
LSU Fan
Member since Oct 2007
11986 posts
| I understand what caused the Housing Bubble burst in 2008, but... (Posted on 11/3/11 at 5:40 pm)
What is/was the root cause of this Euro-crisis that's been going on recently that appears to be what is dragging the world markets & economies down the tubes further?
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Squishy
LSU Fan
baton rouge
Member since May 2010
688 posts
| re: I understand what caused the Housing Bubble burst in 2008, but... (Posted on 11/3/11 at 5:41 pm to Luke4LSU)
From what I've heard, greece is letting its people decide if they want to accept the bailout, but they are waiting till january to actually put the vote out
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ANAKINSKY
LSU Fan
colorado
Member since Jan 2005
6138 posts
| re: I understand what caused the Housing Bubble burst in 2008, but... (Posted on 11/3/11 at 5:41 pm to Luke4LSU)
socialism
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Doctor Radical
LSU Fan
Austin
Member since Feb 2008
10258 posts
| re: I understand what caused the Housing Bubble burst in 2008, but... (Posted on 11/3/11 at 5:42 pm to Luke4LSU)
quote:
What is/was the root cause of this Euro-crisis that's been going on recently that appears to be what is dragging the world markets & economies down the tubes further?
LINK
Best explanation I can find.
LINK
Also this one (new one).
This post was edited on 11/3 at 5:46 pm
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Luke4LSU
LSU Fan
Member since Oct 2007
11986 posts
| re: I understand what caused the Housing Bubble burst in 2008, but... (Posted on 11/3/11 at 5:48 pm to Doctor Radical)
that was pretty good.
So...what did Greece, Italy, Spain, Portugal, and Ireland need all that money they borrowed for in the first place?
To support entitlement programs in their socialist governments?
This post was edited on 11/3 at 5:51 pm
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Doctor Radical
LSU Fan
Austin
Member since Feb 2008
10258 posts
| re: I understand what caused the Housing Bubble burst in 2008, but... (Posted on 11/3/11 at 5:54 pm to Luke4LSU)
quote:
So...what did Greece, Italy, Spain, Portugal, and Ireland need all that money they borrowed for in the first place?
Would vary by country.
Some had structural deficits, some bailed out banks or corporations, etc...
The MB may be able to give more country specific answers.
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TigerintheNO
LSU Fan
New Orleans
Member since Jan 2004
18941 posts
 Online
| re: I understand what caused the Housing Bubble burst in 2008, but... (Posted on 11/3/11 at 5:59 pm to Luke4LSU)
quote:
So...what did Greece, Italy, Spain, Portugal, and Ireland need all that money they borrowed for in the first place?
All for different reasons
Ireland- banks crashed & they nationalized them
Italy- grew old, (2/3 of all Italians over the age of 65 are still alive)
Greece- they government was running up massive debt, and basically lying about it
This post was edited on 11/3 at 6:40 pm
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Jim Rockford
LSU Fan
Member since May 2011
23252 posts
| re: I understand what caused the Housing Bubble burst in 2008, but... (Posted on 11/3/11 at 6:00 pm to Luke4LSU)
In Ireland's case, it was a bailout for banks that had inflated a real estate bubble.
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los angeles tiger
LSU Fan
1,601 miles from Tiger Stadium
Member since Oct 2003
54265 posts
| re: I understand what caused the Housing Bubble burst in 2008, but... (Posted on 11/3/11 at 6:03 pm to Luke4LSU)
Same as here but they are in deeper.
Socialist policies with all their supposed good intentions is the pavement to a nations road to hell.
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BrerTiger 
Auburn Fan
Hell & Ore-gone from da Briar Patch
Member since Sep 2011
7275 posts
| re: I understand what caused the Housing Bubble burst in 2008, but... (Posted on 11/3/11 at 6:03 pm to TigerintheNO)
From the BBC re: Greece:
quote:
Why is Greece in so much trouble?
Greece has been living beyond its means in recent years, and its rising level of debt has placed a huge strain on the country's economy.
The Greek government borrowed heavily and went on something of a spending spree during the past decade.
Public spending soared and public sector wages practically doubled during that time.
However, as the money flowed out of the government's coffers, tax income was hit because of widespread tax evasion.
When the global financial downturn hit, Greece was ill-prepared to cope.
LINK
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SlowFlowPro 
Stanford Fan
Equality is a circle, not a =
Member since Jan 2004
263417 posts
Online
| re: I understand what caused the Housing Bubble burst in 2008, but... (Posted on 11/3/11 at 6:05 pm to Luke4LSU)
quote:
So...what did Greece, Italy, Spain, Portugal, and Ireland need all that money they borrowed for in the first place?
i suggest reading michael lewis's articles on greece, iceland, ireland, and germany
a brief summary of what i read
ireland had its own real estate bubble and the government guaranteed the debt. now they can't afford to do so
greece had way too much government spending and cooked the books for the EU. they sold government bonds and germany bought them
iceland basically was insane
germany bought a bunch of this bad debt (US, greek, etc) so they own the countries, but the problem is they have to carefully structure how the countries can repay the debt, or germany loses all that investment
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SlowFlowPro
Stanford Fan
Equality is a circle, not a =
Member since Jan 2004
263417 posts
Online
| re: I understand what caused the Housing Bubble burst in 2008, but... (Posted on 11/3/11 at 6:06 pm to TigerintheNO)
quote:
2/3 of all Italians are still alive
pretty sure 3/3 of all Italians are still alive
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RCDfan1950
LSU Fan
United States
Member since Feb 2007
6640 posts
Online
| re: I understand what caused the Housing Bubble burst in 2008, but... (Posted on 11/3/11 at 6:18 pm to Luke4LSU)
quote:
Luke4LSU
I understand what caused the Housing Bubble burst in 2008, but...
What is/was the root cause of this Euro-crisis that's been going on recently that appears to be what is dragging the world markets & economies down the tubes further?
Classic case of SOCIALISM, buddy.
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MStant1
LSU Fan
New York, NY
Member since Sep 2010
4056 posts
| re: I understand what caused the Housing Bubble burst in 2008, but... (Posted on 11/3/11 at 6:31 pm to SlowFlowPro)
quote:
i suggest reading michael lewis's articles on greece, iceland, ireland, and germany
His new book Boomerang is on the same topic.
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fr33manator
LSU Fan
Baton Rouge
Member since Oct 2010
37595 posts
Online
| re: I understand what caused the Housing Bubble burst in 2008, but... (Posted on 11/3/11 at 6:34 pm to TigerintheNO)
quote:
Italy- grew old, (2/3 of all Italians are still alive)
So 1/3 are zombie guidos?
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Patrick O Rly 
New Orleans Saints Fan
y u do dis?
Member since Aug 2011
25642 posts
Online
| re: I understand what caused the Housing Bubble burst in 2008, but... (Posted on 11/3/11 at 6:38 pm to fr33manator)
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BrerTiger
Auburn Fan
Hell & Ore-gone from da Briar Patch
Member since Sep 2011
7275 posts
| re: I understand what caused the Housing Bubble burst in 2008, but... (Posted on 11/3/11 at 6:41 pm to fr33manator)
quote:
So 1/3 are zombie guidos?
Nah. 1/3 are cousins of the cast of Jersey Shore or The Sopranos.
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SlowFlowPro
Stanford Fan
Equality is a circle, not a =
Member since Jan 2004
263417 posts
Online
| re: I understand what caused the Housing Bubble burst in 2008, but... (Posted on 11/3/11 at 6:43 pm to MStant1)
quote:
His new book Boomerang is on the same topic.
his new book is just a collection of the articles
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TigerintheNO
LSU Fan
New Orleans
Member since Jan 2004
18941 posts
Online
| re: I understand what caused the Housing Bubble burst in 2008, but... (Posted on 11/3/11 at 6:43 pm to SlowFlowPro)
quote:
pretty sure 3/3 of all Italians are still alive
typing too fast and dinner was ready
When I was in Rome, I read that over 2/3 of all Italians that reached the age of 65 are still alive. Compound that with the 2nd lowest birth rate in the Western World and you have a problem.
This post was edited on 11/3 at 6:58 pm
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simonizer
LSU Fan
no
Member since Oct 2008
1054 posts
| re: I understand what caused the Housing Bubble burst in 2008, but... (Posted on 11/3/11 at 6:54 pm to TigerintheNO)
quote:
typing too fast and dinner was ready
When I was in Rome, I read that over 2/3 of all Italians that reached the age of 65 are still alive. Compound that with the 2nd lowest in the Western World and you have a problem.
2/3 that reached 65 ever??
and 2nd lowest what? I.Q. ?
you are Italian right?
This post was edited on 11/3 at 6:55 pm
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