Getting a little off toppic here.
[QUOTE=Wolvenvacht;1825463]Absolutely wrong. The economic crisis would have wiped out the economy of many of the smaller European countries already and would have reducied the bigger economies to insignificance on the global scale too.
What do you think would happen if each US State can independently set their "own" currency rates and decide on "their" economy without regard to the other States?[/QUOTE]That's Bullshit! If the European countries would have kept their own currencies along with the appropriate interest rates, there would never have been any financial or economic crisis. If Germany had kept the Mark and the Bundesbank had kept the interest rates up where they belonged, then Fanny Mae and Freddy Mac would never have been able to create the US housing bubble, because interest rates in the US would have stayed up too. And if there were appropriate interest rates, the Chinese could not have created their current housing bubble, which I expect to implode this year.
Cane & Kane are quite right with their assessments:
[QUOTE=TheCane;1825510]Errr that's a part of the euro's problem now! A single currency without a solid, single monetary policy and economy! You want to know what happens? Then look at Europe now LOLOLOL! The United States is one nation while the Euro Zone is still a collection of separate countries trying to act like a single entity. And failing miserably at it at that! Look at how the whole refugee crisis is being "managed", if you can call it that. Europe will never be "one" as there are just too many geopolitical divisions that won't allow that to ever happen. Mark my words.[/QUOTE]
[QUOTE=CitizenKane;1825746]The biggest problem with the Euro is that you can't have countries with economies as different of Germany and Greece running the same interest rate. If Greece (or any other EZ member except Germany) could have dropped its interest rate to devalue their currency would have helped out their economy massively.
The Eurozone is a halfway house between separate countries and the United States of Europe. The problem is the vast majority of the European population don't want to be part of the USE (or EUSSR) but that won't stop the politicians. To quote Jean-Claude Juncker, "When it becomes serious, you have to lie".[/QUOTE]I'm especially fond of Kane's correct assessment regarding the "EUSSR". That's right on point and describes what they are planning to create. The EU has no similarity whatsoever with the United States of America, instead it's pretty much build up like a so-called "council democracy", just like the USSR had been. The EU is about as democratic as the USSR was.
[QUOTE=Jnpr30;1825518]Germany has been the biggest beneficiary of a weak Euro. Most economists are in agreement on this.
Swiss, a similar economy to the Germans, have independent currency. They desperately needed a weak currency to keep their exports up,
Every day Germans might feel hot under the collar about euro v mark, and if it is a retiree with fixed income retirement a weak euro is not useful to them, but there is no question that German workers benefited so much from a weak euro. There have been several dozens of articles in FT and wsj over the last few years, not to mention several detailed research pieces from economists and investment strategists.[/QUOTE]More Bullshit! What gives you the idea that a weak currency would be good for the economy? The strongest economy in Germany in the past 100 years was in the 50s when there was also the strongest time of the D-Mark. The Swiss even have a strong currency for much longer and are still one of the wealthiest people in the world.
No German worker ever benefitted from a weak Euro. The cost of living (especially gasoline and heating oil) rose much faster than any raise of income or pensions. People who saved their money get ripped off by obscenely low interest rates for over 15 years by now. Almost everything costs as much in Euro as it used to cost in D-Mark, if not even more.
Do you really expect to get real information from banker's propaganda magazines like FT or WSJ? And since when is research from so-called 'economists' good for anything? Did any of them predict the financial crisis of 2008? Did they warn about the Japanese crash of the early 90's? What did they say in early October 1929? So forget about them! Just brace yourself for this year's coming financial and economic crash, propably initiated by the implosion of the Chinese housing bubble.
Use your money to enjoy mongering, as long as you still have it.