Yet another European country in financial trouble

[iaoish]

This time it's Ireland, following a few other European countries who needed financial aid.

I'm not an economist, to be honest I failed economy in school but I think Ireland won't be the last country that lowers itself in debt and need help of the other euro countries to bail them out. (what in my opinion is like mopping the floor while leaving the tap running...)

I would almost think there is a connection with all these countries needing financial aid and the currency (euro).

I'm almost starting to think about buying some Chinese yuan, just to be safe. For the long term.

But like I said.. I'm not an economist.. Im curcurious what would your opinion about this be? (I think there are some guys here who know a lot about economies?)

I'm not in a position to do massive research at the moment because I'm far away from home and won't be home for (hopefully) many months.

Or am I thinking utterly bullshit here?

 

[KillaKali]

Ppl that think they know "a lot" about economies have learned their skills thru the same system that's crashing. (globally speaking)

 

[JoMoDo]

Yup, Ireland is eff'd....
Be on look out for Portugal and Spain to follow closely. If so, Germany will not be happy about it's tax payers 'bailing out' rest of EU so many other stagnant ecomoies in W. Europe will have to take similar austere fiscal decisions, such as we saw in Greece.... could this lead to disintegration of EU, highly unlikely...

Will you invest in actual currencies or Bonds? Either way if you don't have a lot of time to actively monitor your investments, only 'invest' as much as you are willing to lose. Currency markets very volatile...

 

[Mike Manson]

I'm almost starting to think about buying some Chinese yuan, just to be safe. For the long term.

I thought about that as well, because sooner or later the Chinese government will stop protecting it.

It's crazy though. Prices for everything, especially vegetables are rising. People from China travel to Hong Kong to go grocery shopping...

 

[iaoish]

That's crazy.. I thought over there they mainly ate vegetables (soaking in water) because meat was to expensive?

I don't want to buy them right away but when I get back... but Brussels (other European countries) keep bailing countries out which are doing financially not so well (are financially fucked). But bailing them out doesn't seem like the right solution in my book..
To me it seems it is only creating more problems for the countries that's bailing them out.
Also adding more eastern European countries which are quite poor to the Euro seems to me all the more reason to think about something to safeguard my money.. and I lost my faith in the banks a little bit over the last years...

but again.. I'm not an economist of what ever.. and was thinking what your guys take on it might be...

 

[Mike Manson]

That's crazy.. I thought over there they mainly ate vegetables (soaking in water) because meat was to expensive?

Well, they eat a lot of vegetables (mostly stir fried) but also a lot of meat. Beef is a bit more expensive, but poultry and pork is quite cheap. Where I am they eat a lot of seafood. To eat fish and shrimps everyday is quite normal.

You can get any kind of food here though.

Every province has their specialties and how we have restaurants from all kinds of countries in Europe is it the same with restaurants from all over China, but also Asia, and the rest of the world.