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[mainiac]

China is acting in it's own interest, or rather in the interest of it's gangs of oligarchs.  These interventions will cost them very little.  However they will appreciate the Euro against the Yuan significantly (or rather prevent the Euro from being pulled towards depreciation against the Yuan.)  This means that China can delay the day when the E.U. finally grows tired of China's begger-your-neighbor trade policies and joins Japan and probably the US too in taking action to stop China's currency manipulations.  Those currency manipulations allows China to continue to make sure that the countries labor continues to flow into the pockets of the wealthy by artificially depressing the real wages of it's industrial workers.

Of course this wouldn't be an issue if Germany wasn't being backass retarded and forcing the EU central bank into a counterproductive fight against non-existant inflation.  Or if the IMF donor countries realized that the mistakes of 1929 are supposed to be avoided, not repeated.  But only the US democratic party took the lessons of the great depression to heart this time around and look at how the voters rewarded them.

In summery, we are fucked and everybody is to blame.  Learn some fucking monetary policy you dumbasses.

[Flaede]

In summery, we are fucked and everybody is to blame.  Learn some fucking monetary policy you dumbasses.

I assume you're referring to the politicians, not the folks on this forum. Other'n that, yeah, nice summary.

[RedKing]

Actually, the PIGS countries are Portugal, Italy, Greece and Spain. Slovakia is doing realtively okay, and they're not a large enough component of the European market to drag down the Euro all that much.

Ireland sometimes gets discussed as well, and the latest iteration includes Great Britain as well (PIIGGS). Hence why Cameron and the Tories cut spending as they did. Speaking of which--I have to say, I'm actually impressed that they cut 10% out of defense. That's a ballsy move for a conservative party. Doubly so since they're hoping to achieve some of that budget savings by going halfsies with the French in a new Anglo-French defense agreement.

Cutting defense and allying with the French?? These are not your father's Tories.


Sorry, enough derail. As to China...*shrug* people in the US complain when China does anything now. We're King of the Hill, and part of being King of the Hill is knowing that everyone else is going to try to take you down a few notches. We had a period of national hand-wringing about being eclipsed by Japan back in the 1980's, and prepared to welcome our new yellow masters and their robotic death engines. Until their economy hit a brick wall of their own making.

This is the same thing, different countries (can't forget India, even if they are dysfunctional as hell). Hell, maybe they'll do a remake of Gung Ho and call it Kung Pao.

To a certain extent, Americans got spoiled by the 1990s. We went from a multi-polar world pre-WWII to a bipolar world during the Cold War to a unipolar world after 1991, that was supposed to usher in Pax Americana. Instead we got fat and lazy and the Chinese finally reaped the fruits of limited economic liberalization.

[maxicaxi]

We're King of the Hill

Not for long, your economy is half dead

[RedKing]

We're King of the Hill

Not for long, your economy is half dead

We're getting better.

[Duke 2.0]

We're King of the Hill

Not for long, your economy is half dead

You can't say the dude at the top of the hill is slipping because he got wet when everybody is in the rain.

[scriver]

Besides, isn't a large part of China's economy based on selling shit to America anyway? So if America comes crashing down, wouldn't China do the same thing?

[RedKing]

Besides, isn't a large part of China's economy based on selling shit to America anyway? So if America comes crashing down, wouldn't China do the same thing?

Which is a large part of why they're trying to cultivate relationships with other markets. As Wu-Tang Financial says, "You got to diversify yo' bonds, n****!"

[Flaede]

We're King of the Hill

Not for long, your economy is half dead

We're getting better.

to quote Miracle Max:
"It just so happens that your friend here is only MOSTLY dead. There's a big difference between mostly dead and all dead. Mostly dead is slightly alive."

[darkflagrance]

This is the first thing I hear about Portugal needing to be bailed out. As far as I knew, they were holding up.

In spite of being one of the four countries dragging down the Euro?

Okay, okay. Portugal, Greece, Slovakia, and which one is the fourth? I really need to read more newspapers these days.

Italy/Ireland and Spain, not Slovakia >_>

[smigenboger]

I could have sworn Finland wasn't doing too well recently. Please inform me on how they've been, and if they use the Euro.

[ChairmanPoo]

It's kind of a BS term, for what I've heard. Things are far more complicated than "It's X's fault".

[scriver]

Finland's cause is ours! Take it to the Barricades!
A Swedish Tiger!

[mainiac]

It's kind of a BS term, for what I've heard. Things are far more complicated than "It's X's fault".

Spain would be the case in point of that.  Spain went into the recession with a responsible government and a balanced budget.  They also intelligently realized that austerity in the face of a depression is f#ing moronic.  So they have a huge deficit now but wont have one when the depression is over.  This pisses people off who think that poor countries should suffer for their irresponsibility.  Spain's only big sin was trusting in the promises of the E.U.