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Euro collapse

  • 29-11-2011 9:47am
    #1
    eth0
    Closed Accounts Posts: 2,635 ✭✭✭


    With the current Euro problems we could be in serious trouble if we or some other Eurozone country doesn't pay back debt owed to China. Tensions are rising between the US and China. Now the US are probably to blame for this since yer man Raegan decided to go over and start doing business with them

    Since the 80's the US and to a smaller extent Europe has been outsourcing the manufacturing of nearly everything that will fit on a container to China. So we could sit back and take lousy service and admin jobs while selling overpriced houses to each other to fill them with cheap (often poor quality) shoite out of china.

    Obviously management types can't continue to outsource everything to China and expect the people here to keep buying it but there is a desire to hold on to the lazy way of life outsourcing has afforded us, so we borrow from China to keep buying their stuff. Then they get smart and start making their own products to sell to us, cutting out the traditional rich Western CEO and "design" team. This is already happening to a large extent and the combined effect of us having to repay loans to them means the 'sucking us dry' process is in full swing.

    If we gradually start bringing back our manufacturing sector then it will cushion the blow but if China catch us off guard (ie. now or in a few years) then we could be looking at a protracted period of misery. If China gets oil producing companies on their side it will be worse still. IF they decide to annex Taiwan then we'd be left with almost no supplier of electronic components at all.

    First you will see electronics getting hugely expensive, ****e in people's homes starts to break and they can't get new, then businesses start to suffer and loads will go bust. We'd be living a 50's or 60's lifestyle before long.

    If the whole Euro crisis blows over I reckon this one's next on the list and like with the Euro crisis the longer its delayed the worse it will get. One thing is sure and that is the way we're doing things now can't continue indefinitely
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