Economic War ?

[churchill]

Are the major world economies working together to solve this crisis . Or is it each to their own . The uk/ europe seem to have come up with a plan and now the US seems to be adapting it for their benefit . The UK and Iceland fell out pretty quickly over bank deposits -As this is a world problem should it not be solved on an international rather than national basis .

Is Europe by leading the US at present trying to increase the standing of the Euro against the dollar .

[lannarebirth]

It may appear that these countries are "working together", but you may want to Google "beggar thy neighbor economics". That's what's been going on ever since the US deliberately started driving the $USD down.

Edited October 15, 2008 by lannarebirth

[Naam]

where does "war" fit in?

[lannarebirth]

I don't think they're trying to increase the standing of the Euro. It would appear they're doing everything in their power to debase it. Not that they have much choice, as the kinds of stories I've read about leverage used in European banks are staggering.

In the end, "all politics is local" and there are an awful lot of localities to appease in Europe. America by contrast has shown it is only businesses they hope to protect and the public can go f*** itself. Seems to be good for the currency. In the short term at least.

[churchill]

where does "war" fit in?

" War " does not have to physical , I was suggesting that countries seem to be looking after their own interests , which may mean in the furure one economy say the Eurozone - Euro being perceived as stronger than US - dollar .

[junkofdavid2]

where does "war" fit in?

" War " does not have to physical , I was suggesting that countries seem to be looking after their own interests , which may mean in the furure one economy say the Eurozone - Euro being perceived as stronger than US - dollar .

OP's name is Churchill...

Edited October 15, 2008 by junkofdavid2

[Naam]

I don't think they're trying to increase the standing of the Euro. It would appear they're doing everything in their power to debase it. Not that they have much choice, as the kinds of stories I've read about leverage used in European banks are staggering.

In the end, "all politics is local" and there are an awful lot of localities to appease in Europe. America by contrast has shown it is only businesses they hope to protect and the public can go f*** itself. Seems to be good for the currency. In the short term at least.

my [not so] humble opinion on the recent USD strength is that Billions have been and are still repatriated from abroad (buying USD vs. a variety of other forex). the reverse fluctuations/actions USD/markets seem to confirm my theory.

[lannarebirth]

I don't think they're trying to increase the standing of the Euro. It would appear they're doing everything in their power to debase it. Not that they have much choice, as the kinds of stories I've read about leverage used in European banks are staggering.

In the end, "all politics is local" and there are an awful lot of localities to appease in Europe. America by contrast has shown it is only businesses they hope to protect and the public can go f*** itself. Seems to be good for the currency. In the short term at least.

my [not so] humble opinion on the recent USD strength is that Billions have been and are still repatriated from abroad (buying USD vs. a variety of other forex). the reverse fluctuations/actions USD/markets seem to confirm my theory.

Yes, that's my opinion as well, and has been for awhile. My currency comment in the post you're replying to is just my poor attempt at humor.

[PeaceBlondie]

First time I ever read a copy of the Economist was probably in a Holiday Inn in Birmingham, England, around 2004. In that edition, the columnist said the UK should adopt the euro and join the Continent in waging economic warfare against the USA. But an economic crisis that apparently originated in subprime mortgages and derivatives thereof, was closely shared by European and other banking systems. Don't all the international bankers get together at places like Davros? Aren't the financial systems fully globalized?

It is not the nature of the nation-state to worry too much about peasants, except when cannon fodder is needed, or revenue.