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(BBC-US)   Brics combine to create $100bn development bank after Straws and Sticks collapse   (bbc.com) divider line 16
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430 clicks; posted to Business » on 16 Jul 2014 at 3:19 PM (8 days ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



16 Comments   (+0 »)
   
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2014-07-16 11:16:27 AM
They're mighty mighty, just lettin' it all hang out.
 
2014-07-16 11:26:54 AM
Additionally, Mr. B. B. Wolf showed up at the announcement, demanding to be let in to the partnership.
 
2014-07-16 12:51:47 PM
Stras and Stics, you mean?
 
2014-07-16 01:04:04 PM
This is obviously a failure of the Obama administration, seeing as he didn't invade all these countries to prevent them from doing this.

/seriously, where is the frothy right-wing outrage?
//could it be that they're about to make tons of money from this?
 
2014-07-16 01:32:36 PM
$100 billion dollar emergency fund?
Let's put it in perspective.

If China somehow collapses, then, at its current rate of spending, the entire emergency fund will be tapped out in less than a month.

In comparison, the IMF has about 1.4 trillion dollars in reserve for bailouts.
 
2014-07-16 01:54:15 PM
bjays.files.wordpress.com
 
2014-07-16 03:46:50 PM
The Brics group is made up of Brazil, Russia, India, China and South Africa.


Summary: China and Russia cut a deal with Brazil, India, and SA to exploit their natural resources
 
2014-07-16 04:07:49 PM
2.bp.blogspot.com
Not impressed
 
2014-07-16 04:08:19 PM
The BRIC nations are building an alternative to the World Bank and IMF to promote infrastructure development.  The EU just elected a coalition government based on the promise to spend on infrastructure investment to reindustrialize Europe.

In the meantime, Republicans refuse to even pay for basic highway maintenance without tacking on a corporate welfare giveaway.
 
2014-07-16 04:20:45 PM

SurfaceTension: This is obviously a failure of the Obama administration, seeing as he didn't invade all these countries to prevent them from doing this.

/seriously, where is the frothy right-wing outrage?
//could it be that they're about to make tons of money from this?


They should lend some money to Argentina and Ukraine since they're so noble. In which case, nope.
 
2014-07-16 04:23:15 PM

RexTalionis: $100 billion dollar emergency fund?
Let's put it in perspective.

If China somehow collapses, then, at its current rate of spending, the entire emergency fund will be tapped out in less than a month.

In comparison, the IMF has about 1.4 trillion dollars in reserve for bailouts.


Well, the GCHQ spam bot keeps claiming Russia is collapsing in every thread about Ukraine. So well, 2 months then?
 
2014-07-16 05:06:42 PM
So the BRIC countries are making a tiny step away from the US owned IMF.
Good for them. They must have been reading.
g-ecx.images-amazon.com
http://www.amazon.com/Confessions-Economic-Hit-John-Perkins/dp/04522 87 081
 
2014-07-16 05:13:41 PM

SurfaceTension: This is obviously a failure of the Obama administration, seeing as he didn't invade all these countries to prevent them from doing this.

/seriously, where is the frothy right-wing outrage?
//could it be that they're about to make tons of money from this?


I was hoping someone would try to make this political.
 
2014-07-16 05:21:28 PM

obamadidcoke: So the BRIC countries are making a tiny step away from the US owned IMF.


nope. this is a step away from the World Bank.

I applaud this, as the World Bank is awful.

/yes I've worked with the World Bank
//I didn't find the bank to be necessarily corrupt, but hilariously ignorant of local business environments and incapable of performing proper due diligence.
 
2014-07-16 05:24:05 PM

obamadidcoke: So the BRIC countries are making a tiny step away from the US owned IMF.
Good for them. They must have been reading.
[g-ecx.images-amazon.com image 336x500]
http://www.amazon.com/Confessions-Economic-Hit-John-Perkins/dp/04522 87 081


Or watching

image.tmdb.org
 
2014-07-16 05:32:08 PM

RexTalionis: $100 billion dollar emergency fund?
Let's put it in perspective.

If China somehow collapses, then, at its current rate of spending, the entire emergency fund will be tapped out in less than a month.

In comparison, the IMF has about 1.4 trillion dollars in reserve for bailouts.


Which at the current US rate of spending is an F-35, a bridge over the Platte, and a month worth of Medicare paid for hover-rounds to Louisiana.
 
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