Discussion in 'Economy' started by GHook93, Feb 23, 2009.
Moneynews - Economist Warns Switzerland Could Go Broke
So who are they going to blame this on?
The US of course.
That is one thing about this whole crisis that makes me laugh. For Years now we have heard radicals on the Left gleefully tell us the US was about to fall, and cheer lead that idea. I have always said to them that if we Fall they shall fall with us, and they always dismiss it.
The truth hurts. As goes the USA goes the World, and the world is seeing that today.
Exactly America gets the blame. With Iceland, they said damn American CDOs. However, with Switzerland they are losing on bad loans to Eastern Europe!
So they will cry America's fault.
Or they could blame the Jews! j/k
I don't understand how they went broke. The government provided everything for them. In fact I'll bet a large number of them didn't even need to work./sarc
No need to worry though, socialism will work just fine here in the good ole' USA under Barack Obama! He'll tweak the system just right! Yay!
Switzerland - Wikipedia, the free encyclopedia
Switzerland has a stable, modern, and one of the most capitalist economies in the world. It has the 2nd highest European rating after Ireland in the Index of Economic Freedom 2008, while also providing large coverage through public services. The nominal per capita GDP is higher than those of the larger western European economies and Japan, ranking 6th behind Luxembourg, Norway, Qatar, Iceland and Ireland. If adjusted for purchasing power parity it ranks 15th. The World Economic Forum's Global Competitiveness Report currently ranks Switzerland's economy as the second most competitive in the world. For much of the 20th century, Switzerland was the wealthiest country in Europe by a considerable margin. In 2005 the median household income in Switzerland was an estimated 95,000 CHF, the equivalent of roughly 81,000 USD (as of Nov. 2008) in purchasing power parity, which is similar to wealthy American states like California.
Cheese making and dairying is an old Swiss industry.
Engadin valley, tourism constitutes an important revenue for the alpine regionsSwitzerland is home to several large multinational corporations. The largest Swiss companies by revenue are Glencore, Nestlé, Novartis, Hoffmann-La Roche, ABB and Adecco. Also notable areUBS AG, Zurich Financial Services, Credit Suisse, Swiss Re, and The Swatch Group. Switzerland is ranked as having one of the most powerful economies in the world.
If the Swiss go, watch for Austria next
An amount near 80% of their GDP is in outside loans, mostly Eastern Europe
UBS was run by Phil Gramm and is in the tank now. He went to work for them soon after he got the GLBact 1999 signed by Clinton.
Phil Gramm should be dragged through the village square, tarred feathered, then hung by his testicles from the nearest yardarm
His wife was on the Enron Board when he helped them out too.
The fact that McCain picked HIM as his economic advisor spoke very loudly.
Another failed attempt to twist the facts into Republican talking points huh?
Separate names with a comma.