The Daily Blog Open Mic – Tuesday 12th July 2016

5 Comments

1. ”Europe is extremely sick’, says Deutsche Bank chief economist’

   https://www.rt.com/business/350622-european-banks-crisis-deutsche-bank/

   “Brussels urgently needs a €150 billion bailout to begin a major recapitalization program for its banks, according to Deutsche Bank’s David Folkerts-Landau.

   In the aftermath of UK’s Brexit vote, the focus of attention has switched to Italy’s banking sector, which has accumulated €360 billion in bad loans, and growing.

   A former member of the ECB executive board Lorenzo Bini Smaghi, and now chairman at Societe Generale, has warned the banking crisis in Italy could spread to the entire EU.

   “Europe is extremely sick and must start dealing with its problems extremely quickly, or else there may be an accident. I’m no doomsday prophet, I am a realist,” he said in an interview to Welt am Sonntag.

   According to Folkerts-Landau, Brussels should follow Washington’s steps that helped US banks with a $475 billion bailout.

   “In Europe, the bailout does not need to be so large. A €150 billion program should be enough to help European banks recapitalize,” he said.

   The decline in bank stocks is only the symptom of a much larger problem, which is low growth, high debt and dangerous deflation, Folkerts-Landau added…

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2. Just to say…
   Why the fuck do we continue to tolerate this corporate dysfunction and bullshit?
   Just one example.
   We’ve apparently succumbed to the idea that competing telecommunication companies (albeit in en environment that is also close to a natural monolpoly), will protect us …… because we have “chooooooice”.
   Apart from the obvious BS:
   Slingshot have some serious problems at times with both DNS and caching. (It really is a bugger because the very times I want to indulge in internet activity, they’re busy playing smart arses)
   And 2 Degrees are worse than fucking USELESS in certain ‘pocket’ coverage areas.

   I’d ditch them but for the fact that the others also have much the same bullshit going on in various other areas of the country.

   actually I’ll be ditching the both of them just as I can prioritise things (they’ll probably have to line up behind the bullshit power company I deal with)

   Reply

   1. We don’t tolerate this continued lying bullshit from Nactional the media loves it and stays alive like a garbage collector does.

      Reply

3. If you didn’t hear Guyon Espiner’s sharp interview with Bill English this morning (re the yeah nah perhaps whatever HNZ dividend theatrics from National) on RNZ, I urge you to listen to it.

   English was caught in the headlights. He and his “policy on the hoof tweeting cohort” Steven Joyce are at present acting like a pair of farcical, incompetent, lying, clowns, contradicting one another as far as the HNZ dividend payment (or not) is concerned.

   Every time these two open their mouths now, it’s looking very good for a Labour/Green government next year. Keep it up you fools, keep it up. Lovin’ it 🙂

   http://www.radionz.co.nz/national/programmes/morningreport/audio/201807920/english-why-housing-nz-will-not-pay-govt-dividend

   Now we know why gutless leader John Key has disappeared overseas at this time!

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   1. I heard it @ Mary, and as I did, I thought to myself if the NZ electorate doesn’t get it – then they really do deserve the muppets that profess to serve and represent them (as I hatch my plan to escape to a third world country that does ekshully give a shit about its citizenry).
      IF anyone had the slightest doubt after that fukn debacle that an English was struggling for credibility and professing to give a fuck about NZ, they really do deserve what they get.
      How the fuck has it come to this (and THAT ffs)!

      Reply