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Rick
Lv 7
Rick asked in Politics & GovernmentOther - Politics & Government · 8 years ago

Is the Cyprus Banking "Crisis" really a diversion?

Cyprus government spending growth has been 8.3% per year or double the GDP growth in Cyprus.

Now the government is spending over 45% of the GDP - which seems to be diminishing the economy, making bankruptcy inevitable.

The Simple and Predictable Story of Fiscal Bankruptcy in Cyprus

http://www.cato.org/blog/simple-predictable-story-...

It looks like the government refuses to shrink the government (much like the US government) and will run out of fools to lend money to further enlarge government.

Increasing taxes or 'Taking Property' may not work if they have already Taxed to the MAX.

The USA government is spending 42.3% of GDP and growing - we are only months behind Cyprus.

http://www.usdebtclock.org/

Update:

@steve - you didn't bother to read or reason.

Cyprus! Government Spending, Debt and Government Confiscation of Private Property

http://www.freedomworks.org/blog/teda/cyprus-gover...

Update 2:

Clueless DOT - It's the government that wants to take away peoples property.

But it's also the dumb sheep that vote in popular politicians that promise the government to provide everything and spend far more than they take in - like the sheeple in the USA.

Update 3:

@Who WAS #1 - Right on - Cypriots will run on their banks no matter what = ? Will that start an international run on banks, portending an international 'crisis' ? ?

Remembering the banks are tied together internationally.

Intelligent people should have a cash reserve / silver to weather a few weeks of panic & possible anarchy.

Gold is impracticable, being overpriced and very few are capable of trading in gold.

Update 4:

Also Russia and Iran are trade partners and using Syria as a proxy war against the USA.

Russian weapons and a few training agents - Iran supplying thousands of Iranian special forces & weapons driving through Iraq with immunity = thanks to Obama.

5 Answers

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  • who WAS #1?
    Lv 7
    8 years ago
    Favourite answer

    Well written! For which I thank you!; quite way above average for y/a.

    I figure USA has perhaps as long as 5 years (maybe less) before economic collapse.

    When TSHTF and all those Federal Reserve notes come flooding back onto our shores, one would be wise to have dumped paper promises investments and have bought real things, like silver or farm tractors, real estate and....OMG!! I'm getting Jimmy Carter inflation flashbacks!?

    Dang! I hat it when this happens ;)

    The days of petrodollars are on life support. Soon it will be the end of the Era.

    OOPS, forgot to answer your question. Diversion? That depends on how far one wants to zoom out.

    Is it a coincidence that The Presidency visited Israel at this moment? Turkey is a NATO member. The ongoing controversy about "The Euro" failing and Europe is wondering if allowing Turkey to become a member seems to have fallen off the news but the problem there is if Turkey is allowed into "The Union", would that mean the rules of the game would allow a huge influx of Muslims into NorthWest Europe?

    And what role does Russia play in this game?

  • .
    Lv 7
    8 years ago

    Yes, the Cyprus Banking Crisis is a diversion.

    Cyprus is close to the real crisis which is in Syria - see map.

    In other countries, people are being scared for their own money in the bank which is not the plan right now, but the elite likes to keep people scared about one thing or another, for some reason.

    I think what Steve is saying is that the Turks have been bribed and duped by NATO, and so they are the weak link with which the banking cabal has been allowed to poison Cyprus. All the statistics and charts and numbers only belie the facts of the geopolitical realities.

  • Anonymous
    8 years ago

    A Crystal Ball "glimpse" into the future of all Socialism(s),

    even & especially the "orgy" version of it called the EU.

    LTM is correct

    Statues go up & then get torn down in the shallow/superficial/temporary "Raves"

    that go on during the hatching period in the extended family of "isms".

    (then the buzz wears off & the hangover begins)

  • L.T.M.
    Lv 7
    8 years ago

    Reading your third link it hit me that the OWS crowd was flat out delusional. There's no way to kick the can far enough down the road. Their generation will PAY for all the 'FREE STUFF'. One way or another.

  • Steve O
    Lv 6
    8 years ago

    End the Turkish occupation and let the country prosper.

    They have their own problems and reason to spend.

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