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CNN Lobbying Opinion For Euro Failure  
User currently offlineozglobal From France, joined Nov 2004, 2716 posts, RR: 4
Posted (2 years 8 months 3 weeks 3 days 8 hours ago) and read 2810 times:

Have you noticed the vitriolic ant-Euro propaganda campaign coming out of CNN International? Every 2 hours or so a new damningly grim article is published arguing that the total collapse of the Euro is immanent. They are even doing a'10 day countdown to Euro-apocalypse'. All guests interviewed are British representatives of the viralently anti-Euro school of Euro-skeptics, aparantly longing for, hungingering for the collapse of the Euro. This is clearly not journalism, but lobbying. Since this crisis is largely on of sentiment, CNN must take a share of responsibility for it.

The more important question is why they are mounting such a transparently one sided and agressive campaign.

More worrying, when I post any such criticism on the comment section of their articles, the comments are put in a status of 'awaiting moderation' and then deleted. Further, previously published comments from many other users making the same points yesterday, have mainly been deleted today. The comment count on some articles is down today from 50 or more yesterday to just 15 or so!

CNN is using the tactics they criticize in the Chinese govrnment. The question is Why? Who is paying for this?

http://business.blogs.cnn.com/2011/1...euro-but-how/?hpt=hp_c3&hpt=ibu_t4

http://business.blogs.cnn.com/2011/1...ailures-of-eu-leaders/?hpt=ibu_t3/

[Edited 2011-12-02 03:16:38]


When all's said and done, there'll be more said than done.
46 replies: All unread, showing first 25:
 
User currently offlinedfwrevolution From United States of America, joined Jan 2010, 968 posts, RR: 51
Reply 1, posted (2 years 8 months 3 weeks 3 days 7 hours ago) and read 2727 times:

Quoting ozglobal (Thread starter):
Since this crisis is largely on of sentiment, CNN must take a share of responsibility for it.

It is largely based on financial mismanagement within the Eurozone. Sentiment is secondary to mathematics.

Quoting ozglobal (Thread starter):
More worrying, when I post any such criticism on the comment section of their articles, the comments are put in a status of 'awaiting moderation' and then deleted. Further, previously published comments from many other users making the same points yesterday, have mainly been deleted today. The comment count on some articles is down today from 50 or more yesterday to just 15 or so!

You're not entitled to post on a website's comment section any more than you are entitled to have a newspaper to run your letter to the editor. Knowing how indelicate some people act on comment sections, it's probably not worth their time to wade through a mountain of submissions.


User currently offlineozglobal From France, joined Nov 2004, 2716 posts, RR: 4
Reply 2, posted (2 years 8 months 3 weeks 3 days 6 hours ago) and read 2709 times:

Quoting dfwrevolution (Reply 1):
Quoting ozglobal (Thread starter):
Since this crisis is largely on of sentiment, CNN must take a share of responsibility for it.

It is largely based on financial mismanagement within the Eurozone. Sentiment is secondary to mathematics.

It is both and CNN are fanning sentiment in a very specific, consistent and one-sided direction. Why is the question.

Quoting dfwrevolution (Reply 1):
Quoting ozglobal (Thread starter):
More worrying, when I post any such criticism on the comment section of their articles, the comments are put in a status of 'awaiting moderation' and then deleted. Further, previously published comments from many other users making the same points yesterday, have mainly been deleted today. The comment count on some articles is down today from 50 or more yesterday to just 15 or so!

You're not entitled to post on a website's comment section any more than you are entitled to have a newspaper to run your letter to the editor. Knowing how indelicate some people act on comment sections, it's probably not worth their time to wade through a mountain of submissions.

Thanks for the vote of confidence, but neither the other comments nor mine were outside the rules of their forum. Their only common point was calling into question CNN's style and journalism. All deleted. All valid, civilized and without colourful language or breaches of good behaviour. The questoin is why?


Have you read the articles? Have you compared with other sources? A lack of curiosity can be a dangerous thing...

[Edited 2011-12-02 04:18:35]


When all's said and done, there'll be more said than done.
User currently offlineslz396 From , joined Dec 1969, posts, RR:
Reply 3, posted (2 years 8 months 3 weeks 3 days 6 hours ago) and read 2677 times:

CNN is as good as the inventor of 'breaking news' and is heavily reliant on the public sentiment things are actually developing while you watch them on their newschannels, so whenever something happens in the world that has the potential to becomes something big, they have a long standing habbit of going full blast on it right away, even if -in the end- nothing comes of it...

This debt crisis is nothing different really and here they have the luck that they were helped here by a small comment from an EU commissioner who said in an interview a clear way forward must emerge by the next EU summit, in -then- 10 days for now, something which is a god's giff of course, as CNN can then put counters and banners allover their news reports. Combine this with the fact CNN have no problem finding English language 'experts' on the euro to fill their programs with, and you have what you see there: a constant dramatized reporting style as if somehow next week, the euro is going to disappear! ROTFL

As you correctly point out, most of those 'experts' CNN is bringing in have a rather similar anti-EU background, something which is quite widespread amongst UK financial circles indeed, hence CNN sounding quite dramatic through their analysts. I wouldn't go as far as to suggest they deliberately want to sound this way, but they may not have a choice really, if they are to keep this 'breaking news' topic alive for the next week in order to milk it completely.

Its becoming quite clear from a stream of coordinated pre-announcements from both the French President, the German Chancellor or the ECB President, that they will decide on more fiscal integration for the EU at next week's meeting in BRU, after which the ECB will play its part in helping to control bond yields of those countries which came into trouble and we'll be off on a slow path to recovery...

However, such news is far less spectacular to bring for CNN and will immediately halt their 'breaking news' status, so with 8 more days to go still, they want to keep tension amongst their viewers as high as they possibly can: after all, that means still 8 days of increased spectator's numbers and thus advertizement revenues, even if it means they need to revert to practices of deliberately ill-informing their specatators by focussing on just one possiblility, while disregarding all events that proof that possibility is getting ever more remote as time passes by.

Here's a to-the-point, no-nonsense report about the real sense of the markets right now, coming from the BCC, which is not known to be very pro-EU either, btw:

http://www.bbc.co.uk/news/business-15998609

Oh well, let them be for another week, after which they will just move on to the next breaking news event, elsewhere, while the experts on the euro they have aired over the past 10 days are shaking their heads in disbelief over the fact that things have moved in a completely different direction than they had expected. 

[Edited 2011-12-02 04:42:15]

User currently offlineozglobal From France, joined Nov 2004, 2716 posts, RR: 4
Reply 4, posted (2 years 8 months 3 weeks 3 days 5 hours ago) and read 2633 times:

What are the bets they have been told to take a certain angle, ultimately to support financial positions held by interests connected with their corporation?

If it's just sensationalist, why take a position, why not fill the hours with panel debates, etc which would probably be higher rating?



When all's said and done, there'll be more said than done.
User currently offlinemham001 From United States of America, joined Feb 2005, 3605 posts, RR: 3
Reply 5, posted (2 years 8 months 3 weeks 3 days 2 hours ago) and read 2578 times:

Quoting slz396 (Reply 3):
Here's a to-the-point, no-nonsense report about the real sense of the markets right now, coming from the BCC, which is not known to be very pro-EU either, btw:

http://www.bbc.co.uk/news/business-15998609

That link does not report much of anything, except the US unemployment rate. I won't try to defend CNN, they are the same with all their reporting. Usually it favors a liberal Euro view so many may now be confused that the news is not reported in their favor.

I was wondering what happened to our main Euro Superiority Proponent. Not quite so cocky now. It would be interesting to go back and read those posts extolling the unassailable superiority of the Euro uber alle.


User currently offlineDeltaMD90 From United States of America, joined Apr 2008, 7874 posts, RR: 52
Reply 6, posted (2 years 8 months 3 weeks 2 days 1 hour ago) and read 2466 times:

Quoting ozglobal (Thread starter):
Have you noticed the vitriolic ant-Euro propaganda campaign coming out of CNN International?

I think it's just typical sensationalism and they're not anti-anything. It's the media we're talking about here. If they were really anti-Euro, I think they would have been railing on the Euro before all this began. When you have someone that gives only 10 days before something monumentally bad happens, don't you think the media would jump on board?



Ironically I have never flown a Delta MD-90 :)
User currently offlinePPVRA From Brazil, joined Nov 2004, 8957 posts, RR: 40
Reply 7, posted (2 years 8 months 3 weeks 2 days 1 hour ago) and read 2453 times:

Quoting ozglobal (Thread starter):
http://business.blogs.cnn.com/2011/1...ailures-of-eu-leaders/?hpt=ibu_t3/

This Kirsty Hughes individual appears to be nothing but pro-EU, so I don't know where you are coming from when you say this is anti-EU propaganda. He is criticizing EU leaders and policy, not the idea of the EU.

Richard Quest's piece is very doom and gloom, but alas, that is the situation the world is in today and has been for a while. And as the guest speaker even said, for bureaucrats to put out an official document describing a calamity it must mean you really are facing trouble.



"If goods do not cross borders, soldiers will" - Frederic Bastiat
User currently offlineLAXintl From United States of America, joined May 2000, 25069 posts, RR: 46
Reply 8, posted (2 years 8 months 3 weeks 2 days 1 hour ago) and read 2442 times:

I'm not sure why you are focusing on CNN. Look at other media.

Economist last week carried multiple stories about the imminent failure of the Euro. I suspect this weeks edition will be the same.

Financial Times seems to have a daily story about Euro and likely break up of currency union.

Here in the US, former head of the Federal Reserve Alan Greenspan was quoted as saying Eurozone is doomed to fail with a single currency.

Additionally I've seen stories about various large and small companies preparing for a breakup themselves by doing things like renegotiating contracts to add alternate forms of payment besides the Euro.

So no I don't think CNN or anyone else is doing lobbying by reporting on an a real issue that could come true in the coming weeks/months.
Matter of fact, I'd be more concerned about those news organizations that choose to ignore this huge problem and under report the issue as the fall out from such and event will have global ramifications.



From the desert to the sea, to all of Southern California
User currently offlineAsturias From Spain, joined Apr 2006, 2148 posts, RR: 16
Reply 9, posted (2 years 8 months 3 weeks 1 day 23 hours ago) and read 2406 times:

Quoting LAXintl (Reply 8):
I'm not sure why you are focusing on CNN. Look at other media.

Probably because CNN thus far isn't known to be a part of the anti-EU lobby, which the FT, the "Economist", Ayn Rand loons like Greenspan et al are religious supporters of.

I guess one can't fault a failing network like CNN to try to reinvent itself or trying to get a few hits for sensationalist bullpucky, but it's a rather crude and pathetic attempt. Good thing they've fired all those editors, looks like they won't need them.

The motives of CNN are simple enough - they're trying to survive with superficial sensationalism (e.g. "Eurogeddon") - The motives of Olli Rehn? One can only speculate.

asturias



Tonight we fly
User currently offlineozglobal From France, joined Nov 2004, 2716 posts, RR: 4
Reply 10, posted (2 years 8 months 3 weeks 1 day 17 hours ago) and read 2345 times:

Quoting LAXintl (Reply 8):
I'm not sure why you are focusing on CNN. Look at other media.

Economist last week carried multiple stories about the imminent failure of the Euro. I suspect this weeks edition will be the same.

Financial Times seems to have a daily story about Euro and likely break up of currency union.

Here in the US, former head of the Federal Reserve Alan Greenspan was quoted as saying Eurozone is doomed to fail with a single currency.

Right, bitter Anglo-shere figures, overshadowed and preaching the doom of the Euro for 3 years or more and they want to profit from it. What is new is to see what used to be a more mainstream news agency, CNN International, making such a out-lyer public commitment to the damnation of the Eurozone; willing it, hungering for it...

Read the rest of the mainstream press and you'll not find this degree of economic disaster porn. Someone here has taken an editorial decision which is out of step with observed reality according to other respectable news agency. The question is why, or better, 'who is paying'?



When all's said and done, there'll be more said than done.
User currently offlineluckyone From United States of America, joined Aug 2008, 2168 posts, RR: 0
Reply 11, posted (2 years 8 months 3 weeks 1 day 15 hours ago) and read 2327 times:

Quoting ozglobal (Reply 10):
What is new is to see what used to be a more mainstream news agency, CNN International, making such a out-lyer public commitment to the damnation of the Eurozone; willing it, hungering for it...

The BBC
MSNBC
Reuters
AP
and even Al Jazeera are running stories about the Eurozone collapse. It's not just CNN.


User currently offlineDerico From Argentina, joined Dec 1999, 4304 posts, RR: 12
Reply 12, posted (2 years 8 months 3 weeks 1 day 15 hours ago) and read 2327 times:

Well I can believe the assertion that the FT, Economist, and Bloomberg Television coterie have an agenda to flack, and that they machinate a variety of methods to cunningly intercalate it through their non-editorial reporting. Then, they feign like they do not and that they are simply reporting the news as it happens.

For 10 years these outlets have railed vitriolic against Argentina the country, not simply its government's economic policies. Now there would be nothing wrong with denouncing specific economic measures of the K-Gov, and I would actually tend to agree with them more than disagree on the economic philosophical argument. But they have gone beyond: not only predicting for 10 years that "next year there will be a crisis" (they have been obviously incorrect 10 times in a row), but not reporting one solitary positive economic news story. I am as much a doubter of current economic policy as any, but there have been some successes; they have blatantly ignored or dismissed them as fortuitous. Yet as soon as some hint of a hiccup surfaces, they pounce all over it. It is rather depraved to wish for whole countries to fail and people to suffer just to prove wrong adversarial policies to the ones you espouse.

BTW, the opposite is true: there are some publications that wax obdurate about Argentina, mainly by ignoring the fact that the "K model" is not progressive but regressive on the poor. The 50% of the country that is upper and middle class and whose wages can match inflation manage fine, the 25% that is working class just get by in the good times, a recession away from poverty (again); and the chronic 25% who are poor remain pawns of populist policy.

I can't comment on CNN as they have not been in this category in regards to the above; however, there really is little left of an independent media so I would not be surprised either. The era when listening to the radio and watching television was such an "event" that it made the news and it's fair, impartial deliverance a source of journalistic prestige at the personal and organizational level is long gone. Today it is about catching your (short) attention span to their broadcast; they know you have 200 other options AND the internet. In a way is understandable, but they should just come out and admit it.



My internet was not shut down, the internet has shut me down
User currently offlineozglobal From France, joined Nov 2004, 2716 posts, RR: 4
Reply 13, posted (2 years 8 months 3 weeks 1 day 3 hours ago) and read 2277 times:

Quoting luckyone (Reply 11):

Quoting ozglobal (Reply 10):
What is new is to see what used to be a more mainstream news agency, CNN International, making such a out-lyer public commitment to the damnation of the Eurozone; willing it, hungering for it...

The BBC
MSNBC
Reuters
AP
and even Al Jazeera are running stories about the Eurozone collapse. It's not just CNN.

Read the articles. Even if the BBC is in the bitter anti-Euro category and has been for ever, the language and the assertions are far from the vitriol and 'Euro-geddon' of CNN; so too the choice of guests interviewed. French, German and other press are also speaking of the range of possibilities... a RANGE.. No-one however is LOBBYING for Euro-disaster in the mainstream media like CNN for the past 2 weeks.



When all's said and done, there'll be more said than done.
User currently offlineluckyone From United States of America, joined Aug 2008, 2168 posts, RR: 0
Reply 14, posted (2 years 8 months 3 weeks 1 day 3 hours ago) and read 2273 times:

Quoting ozglobal (Reply 13):
Read the articles. Even if the BBC is in the bitter anti-Euro category and has been for ever, the language and the assertions are far from the vitriol and 'Euro-geddon' of CNN; so too the choice of guests interviewed. French, German and other press are also speaking of the range of possibilities... a RANGE.. No-one however is LOBBYING for Euro-disaster in the mainstream media like CNN for the past 2 weeks.

While that may be your interpretation of the words, I must say I don't see much of a difference. The below comment:

Quoting ozglobal (Reply 10):
What is new is to see what used to be a more mainstream news agency, CNN International, making such a out-lyer public commitment to the damnation of the Eurozone; willing it, hungering for it...

Makes me curious if you just don't like what you're hearing from a source you respect. It's hardly an out-lyer if they're not the only ones reporting.


User currently offlinemham001 From United States of America, joined Feb 2005, 3605 posts, RR: 3
Reply 15, posted (2 years 8 months 3 weeks 1 day 2 hours ago) and read 2262 times:

So while European governments themselves are preparing for the possible collapse of the Euro, the press is not supposed to report it?

User currently offlineDeltaMD90 From United States of America, joined Apr 2008, 7874 posts, RR: 52
Reply 16, posted (2 years 8 months 3 weeks 1 day ago) and read 2240 times:

How am I supposed to know that the Euro-collapse stories are the outliers and the Euro-is-just-fine stories aren't? Surely, there has to be some merit to all these stories


Ironically I have never flown a Delta MD-90 :)
User currently offlineozglobal From France, joined Nov 2004, 2716 posts, RR: 4
Reply 17, posted (2 years 8 months 3 weeks 19 hours ago) and read 2207 times:

it seems those commenting are not bothering to read and compare the articles, so I'll stop bothering, but a few final points:

- CNN in the US is very different in content from CNN International, based largely out of London
- the commentators and contributors are all different
- in the US you will not therefore get the same message, unless you go to the CNN International web-site, on which most reader comments reinforce what I'm saying.



When all's said and done, there'll be more said than done.
User currently offlineoldeuropean From Germany, joined May 2005, 2085 posts, RR: 4
Reply 18, posted (2 years 8 months 3 weeks 11 hours ago) and read 2186 times:

I love the agitation of the US and British media against the Euro.  

But they miss to understand, that contrary to the US, Europe is dooing something against debts and the crisis. In 2-3 years the Euro will be strong as it was before and the Dollar still is in trouble, if the US ain't even bancrupt until then.

  



Wer nichts weiss muss alles glauben
User currently offlineluckyone From United States of America, joined Aug 2008, 2168 posts, RR: 0
Reply 19, posted (2 years 8 months 3 weeks 3 hours ago) and read 2138 times:

I love the self-righteous elitism of some Europeans, who somehow think they're the only intellectually enlightened beings on the planet. I also love their unique ability to trick themselves into thinking they've coddled themselves into security, and who think they're somehow smarter than the rest of the world when it comes to fixing the exact same problem that was caused when they made the exact same stupidly short-sighted decisions as the Simpletons, plus a few unique to the implementation of the Euro. Then throw in the added difficulty of a cumbersome monetary arrangement that has the potential to cause the default of several countries because the Boomers sold their declining numbers of descendants a Ponzi scheme in the form of Social Welfare. Yeah, we Americans and Brits are nothing but sour grapes. We don't have brains. Angie and Sarko can implement all the sanctions policies they want, but if they do that there will be an inflection point at which the member states will drop the euro, and really only leave France and Germany holding the euro, and what good would that be...



[Edited 2011-12-05 08:08:40]

[Edited 2011-12-05 08:32:59]

User currently offlineDeltaMD90 From United States of America, joined Apr 2008, 7874 posts, RR: 52
Reply 20, posted (2 years 8 months 2 weeks 6 days 23 hours ago) and read 2099 times:

Quoting ozglobal (Reply 17):
Quoting oldeuropean (Reply 18):

Geez, I was just asking a question. I have no anti-Euro agenda and want the best for Europe, but why should I just ignore English-speaking countries' press? Because some Europeans say so? I find it very condescending. I'm sure, just like 99% of issues out there, that both sides have some merit to them. I don't think anyone is denying that there is a problem in Europe and with the Euro... How am I supposed to know that the "anglo-saxon" press is inherently wrong and the other European presses aren't?



Ironically I have never flown a Delta MD-90 :)
User currently offlineAsturias From Spain, joined Apr 2006, 2148 posts, RR: 16
Reply 21, posted (2 years 8 months 2 weeks 6 days 18 hours ago) and read 2066 times:

Quoting ozglobal (Reply 17):
- CNN in the US is very different in content from CNN International, based largely out of London

Based in London, eh? I think you've answered your own question there, since they'd be fishing in a pool of editors raised in the world of the zombie-Empire attitude, Daily Telegraph xenophobia/paranoia and romantic naive notions on their precious pound.

Quoting DeltaMD90 (Reply 20):
How am I supposed to know that the "anglo-saxon" press is inherently wrong and the other European presses aren't?

Here's the thing, we're acustomed to whole newspapers that range everywhere from rearranging facts to commit blatant lies (e.g. from the London Times to the Telegraph in the UK) and they're certainly among the European press (anglo-saxon to be sure, but European non-the-less) - and they're inherently and frequently wrong on EU issues.

Then there's the Guardian and to an extent even the BBC that are also European and anglo-saxon and on EU matters they're much more accurate (though by reflex negative, though I'm sure they try to be neutral).

Point being, the "anglo-saxon" press is not inherently wrong, though parts of it are - demonstrably. There's a market for such shoddy "reporting" in the anglosphere. It's sort of forgivable that the American press isn't always up to scratch when it comes to accuracy regarding EU/European matters in general, it's not their main concern and to be honest the reverse is true in European publications regarding Amrerica.

The belly of the beast is the UK. It's from the UK that America gets most its news (hence the anglosphere, a metaphorical bubble) and by receiving news mainly from the UK, American news agencies of all sorts and sizes are guaranteed the worst and shoddiest reporting on EU matters - which doesn't help matters at all.

A hypothetical example: imagine all news on what happened in Washington DC politics that news agencies in the UK would read were made by rural Alabamans. With full respect for rural Alabamans, one suspects there would be a certain slant to the reporting.

The reporting might even be generally correct, but in detail and spirit would fail to convey an accurate picture.

For instance a common phrase in the anglosphere press is the acknowledgement that the EU is a mammoth beaurocratic institution which does little else than push paper and invent crazy directives on the curvature of bananas. The less nuanced UK papers usually refer to them as "eurocrats", which is apparently quite witty in English, but sounds pretty stupid in other languages. But that's neither here nor there.

However, in a veeeeeery generalized sense that's "true". There are beaurocrats in the EU. They have made regulations on bananas. The problem is that counting every single person who works as a civil servant/official for the EU there are about 42,500 temporary and permanent EU officials. They work for 27 countries.

In the UK alone there are about 500,000 civil servants/officials. That's just for one country. So is it correct that the EU is swamped with "eurocrats"? Not by a long shot, it's actually quite lean - especially compared to how many countries it serves (about 1,500 "eurocrats" per EU country)

As for the bananas, well there's a farm subsidy. If you want it, you'll have to make a product that fulfills a quality standard. Long story short, instead of doling out money to any old fool who produces bananas of any old kind, there's a certain standard the EU is willing to subsidise.

Everyone is free to grow any banana they like, just not expect to get paid for it.

So in conclusion, it isn't really about who is "generally" wrong or right exactly, it's the tone, the attitude the facts omitted etc. that are key here - and in general, yes, anglosphere press is "correct" in a very broad sense - but has a knee-jerk reflex to paint some extra colors on that report which only serves to muddle the message and push an agenda. Sometimes that agenda is the agenda of the owner of the publication (e.g. Rupert Murdoch) or just to service a market that exists for such tripe.

I hope that clarifies somewhat.

Quoting luckyone (Reply 19):
I love the self-righteous elitism of some Europeans, who somehow think they're the only intellectually enlightened beings on the planet.

Where did that come from??? Thanks for sharing, I guess  
Quoting luckyone (Reply 19):
I also love their unique ability to trick themselves into thinking they've coddled themselves into security, and who think they're somehow smarter than the rest of the world when it comes to fixing the exact same problem that was caused when they made the exact same stupidly short-sighted decisions as the Simpletons, plus a few unique to the implementation of the Euro.

It may be shocking for you to realize that it's *not* the same problem the Eurozone countries are experiencing as the USA has - in fact it would be fair to say that no single Eurozone country is experiencing quite the same problem.

Quoting luckyone (Reply 19):
Then throw in the added difficulty of a cumbersome monetary arrangement that has the potential to cause the default of several countries because the Boomers sold their declining numbers of descendants a Ponzi scheme in the form of Social Welfare.

Again, this may come as a shock to you but many, if not all EU countries have different pension schemes from the USA - some are as far from this "ponzi" scheme you use in the USA (i.e. pay as you go etc.) and persons actually set aside their own pension for the future in a mutual fund. In other words, I am not paying the pension of my grandparents. When it comes time for me pensioning, I draw upon what I put in the fund.

Quoting luckyone (Reply 19):
Yeah, we Americans and Brits are nothing but sour grapes. We don't have brains. Angie and Sarko can implement all the sanctions policies they want, but if they do that there will be an inflection point at which the member states will drop the euro, and really only leave France and Germany holding the euro, and what good would that be...

Angie and Sarko don't control much - if anything - in the EU. Again, perhaps this is a shock to you.

asturias



Tonight we fly
User currently offlinezhiao From United States of America, joined Jan 2011, 394 posts, RR: 0
Reply 22, posted (2 years 8 months 2 weeks 6 days 11 hours ago) and read 2038 times:
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Quoting oldeuropean (Reply 18):
But they miss to understand, that contrary to the US, Europe is dooing something against debts and the crisis. In 2-3 years the Euro will be strong as it was before and the Dollar still is in trouble, if the US ain't even bancrupt until then.


And Keynes would say that contrary to Europe, the US is doing something about growth via stimulating tax and spending measures. However, this is not 100% correct; local budgets have been slashed all across the US due to balanced amendments, and the Fed Govt deficit next year is projected to be significantly smaller.

Unfortunately, because of austerity, GDP growth will now be so bad for the next few years that debt will be HIGHER anyway. Countries accross the board will be downgraded anyway, because of weak growth. Europe is doing what Keynes said not to do, and will pay dearly. For this quarter alone, there will be a contraction for all the large Euro nations. Italy may shrink at an annualized rate of 4%, France is about to be dowgraded by two notches, etc.

Why are the ratings agencies downgrading countries after they have made austerity plans? Answer: because it's also about growth and none of the austerity plans help growth.

[Edited 2011-12-05 23:29:54]

User currently offlinezhiao From United States of America, joined Jan 2011, 394 posts, RR: 0
Reply 23, posted (2 years 8 months 2 weeks 6 days 11 hours ago) and read 2032 times:
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Quoting ozglobal (Thread starter):
Have you noticed the vitriolic ant-Euro propaganda campaign coming out of CNN International? Every 2 hours or so a new damningly grim article is published arguing that the total collapse of the Euro is immanent. They are even doing a'10 day countdown to Euro-apocalypse'. All guests interviewed are British representatives of the viralently anti-Euro school of Euro-skeptics, aparantly longing for, hungingering for the collapse of the Euro. This is clearly not journalism, but lobbying. Since this crisis is largely on of sentiment, CNN must take a share of responsibility for it.
_t3/

Then turn off the channel. There's been more anti-euro rhetoric coming from the likes of Der Spiegel and various Continental sources, including former finance ministers. How come you do not mention them, or the Chinese media, where a finance minister said that Europe was "lazy" and "slow"? Nobody on this board said anything about this.


User currently offlinePu From Sweden, joined Dec 2011, 697 posts, RR: 13
Reply 24, posted (2 years 8 months 2 weeks 6 days 11 hours ago) and read 2024 times:

Quoting ozglobal (Reply 17):
- in the US you will not therefore get the same message, unless you go to the CNN International web-site, on which most reader comments reinforce what I'm saying.

Well, really what you're saying is that CNN International is a UK production, which is agreed, but in fact US sources delivering news to US audiences mention the Euro crises not in any way "lobbying for Euro failures", if its mentioned at all.

The Americans are second-guessed around the world for everything they do, now when the Euros do something so signficant it captures world attention some are crying to be left alone by the unfair foreign media....but the next time America does something unpopular these same people in Europe and their attacking media see it as a natural right to hope for American bankruptcy and failure - now you get to see, briefly, what its like to be the center of world media attention that isn't so proud of yourself as you are.

Pu


25 Post contains images Airstud : If it's not too off-topic (sorry, mods!) can someone 'splain to this here unedumacated gooficus with none of them thar college dee-grees why the euro
26 luckyone : "Again, this may come as a shock to you but many, if not all EU countries have different pension schemes from the USA - some are as far from this "po
27 Post contains images DeltaMD90 : Never thought of it this way, but I think a bit of my discontent is summed up in your post... Makes more sense, thanks for a non-extreme explanation!
28 Post contains links and images Asturias : http://www.bbc.co.uk/news/business-15734280 There's a growth problem, we did not spend more than we took in, quite the contrary - only after 2008 did
29 par13del : So the non-UK countries and their media care enough about what Americans and other english speakers think about issues in their countires that they e
30 Post contains links ozglobal : What's surprising is that otherwise press savy people are not aware of this. The angloshere media bubble is alive and well!! French world news in Eng
31 luckyone : So you admit, in a circuitous fashion, that you've been spending more than you earned, and your earnings may have been artificially inflated. And it
32 Post contains links janmnastami : Most important daily newspaper in Italy: http://www.corriere.it/english/ Italian top news agency: http://www.ansa.it/web/notizie/rubriche/english/eng
33 Asturias : They try, (see ozglobal's and jamnastami's posts) but I've seen little evidence that the American press is generally aware of such things as english
34 par13del : Thanks guys, I have added them to my list, in all honesty other than always shilling on their own agenda I thought the BBC and other UK's site gave a
35 Post contains links and images NAV20 : Sure you're kidding, Airstud, but good fun anyway..... The short answer is that 'no-one's in charge.' The Euro is a 'common currency' but, when it wa
36 Post contains links slz396 : Meanwhile, for a reality check, this is what Mario Draghi, the most powerful man in Europe right now, had to say to the EU Parliament recently on all
37 par13del : There is a lot of truth in what he says, one of them is that the Euro was never configured or set up with an exit strategy, on the other hand, the gl
38 Post contains links and images NAV20 : Hi, slz396, good to see you! The headline in question read, "Draghi warns on eurozone break-up". What Draghi actually said was as follows:- "Mario Dr
39 Post contains links slz396 : Anybody else? Like maybe Draghi himself then? Spinning the fact, again, are you? No need for wild guessing and negative conjecture, since the interes
40 Post contains links DETA737 : Mario Draghi an oracle? Not quite. Let's look at some of his past quotes: February 13, 2010 “If the Greek government adjusts its budget with determ
41 Pu : Perceived as an oracle perhaps by those who have no other choice but to desperately keep doubling up their bet on the euro, but outside of Brussels a
42 LAXintl : Ha ha -- Sounds like AA CEO and senior management team saying they have no plans whatsoever for Ch11 Bankruptcy only 1-month prior to the carriers fi
43 Post contains links NAV20 : Just checked your profile for the first time, slz396; and I discover that you're a 'policy adviser' with the Banque Nationale de Belgique. I'm surpri
44 Post contains images slz396 : A couple of years ago, I litterally wiped the floor with you when you were giving your doomsday analysis on EADS in the wake of BAe's surprise put op
45 janmnastami : Do you have a problem with the Italian central bank?
46 Pu : Of course not, but no national bank governor is capable of bringing down a respected international financial newspaper, as was alleged elsewhere on t
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