EU official "hopes Russia won't undermine Serbia's EU path"

Even if Serbia recognised Kosovo today they would not join the EU for many years.
Brussels is creaking with the burden of countries in the EU with their hands extended for a handout. There are too many waiting for money and not enough countries bring in the proverbial bacon. The maths is very simple.
Why did they take Slovenia, Croatia or Romania and Bulgaria? Two reasons; first they were all with the heel clickers during WW2 and second is fear that Russia might have influence in Europe.
People fool themselves into believing that Croatia has any say in who or what joins. The Croats have no real backbone except when they have a protector so if Germany says yes it all over red rover and Croatia will be told to vote yes and shut up. Have a look at last year’s debacle with Croatia refusing entry to Serbian vehicles. Belgrade closed the border and it took a very short time for Brussels to tell the Croats to pull their heads in.

If there were a proper and free discussion of the merits of EU membershoip, then 90% of the people of Serbia (not only Serbians) would vote against EU membership. The countries of eastern Europe who have joined the EU are worse today than they were before they joined. My evidence for this statement? The fact that the young and skilled of eastern Europe are fleeing their countries for work in the west. The EU was supposed to bring prosperity and give people a future in their own country. But this is obviously not the case. There are so many Poles in the UK that not only do they have thousands of their own supermarkets, but all the big supermarkets have Polish food sections in their stores. Poland, Latvia, Estonia, and Lithuania are being depopulated of their young. Soon only the old will remain and when they die they will leave empty, barren countries. That is what the EU promises Serbia. Of course the EU fanatics will not agree, but nor will they allow a free discussion so that the public can be better informed.

Those most likely to undermine Serbia's EU path are, in order, the EU, Serbia and possibly Croatia if they decide to follow Slovenia's lead and try to extract their pound of flesh.

Oh don't worry budfy, Putin isn't stupid. He learned from UN what a gold mine these type of organizations are. Serbs for instance would get EU agricultural subsidies and imediately spend them on rusdian tractors. Membership meal ticket also means a more easy way to ship refugees to another country.

"If there were a proper and free discussion of the merits of EU membershoip, then 90% of the people of Serbia (not only Serbians) would vote against EU membership. The countries of eastern Europe who have joined the EU are worse today than they were before they joined. My evidence for this statement? The fact that the young and skilled of eastern Europe are fleeing their countries for work in the west. The EU was supposed to bring prosperity and give people a future in their own country. But this is obviously not the case. There are so many Poles in the UK that not only do they have thousands of their own supermarkets, but all the big supermarkets have Polish food sections in their stores. Poland, Latvia, Estonia, and Lithuania are being depopulated of their young. Soon only the old will remain and when they die they will leave empty, barren countries. That is what the EU promises Serbia. Of course the EU fanatics will not agree, but nor will they allow a free discussion so that the public can be better informed.
(Michael Thomas, 1 February 2016 13:18) "

Your evidence the EU is a failure and worse off today is young people fleeing to the west? But Bosnia, Serbia, Macedonia, Kosovo, and Montenegro are not EU and there is still this problem of young people fleeing to the west. No EU needed. So maybe the problem isn't as much the EU as it is the legacy of communism as we see most of the people fleeing to west Europe are coming from former communist countries.

Michael Thomas: You make some valid points, but your logic does not add up. If so many young people in new member countries are jumping at the opportunity to go and work and live in other EU countries, one assumes that Serbia's youth would be all for Serbia's EU membership and thus your figure of 90% seems way out. I imagine that, Kosovo aside, the views of the population are evenly split with the under 40s probably in favour of membership and the over 40s against. SJ: you are right where Romania and Bulgaria are concerned but I would not put them in the same category as Slovenia or Croatia. Ljubljana and Zagreb are worlds apart from Bucharest and Sofia.

Ljubljana and Zagreb are worlds apart from Bucharest and Sofia.
(ned taylor, 1 February 2016 14:12)

Really!? Worlds apart! You might want to review your facts and economic data because you are wrong.

GDP Nominal per Capita, Romania 19,744, Croatia, 20,947, Slovenia, 29,868, Bulgaria 17,926 according to IMF in 2015.

Unemployment Rate, Croatia 15.8%, Bulgaria 9.5%, Slovenia, 9.1, Romania 6.8

Both Bulgaria and Romania Unemployment rates are better than Croatia, Croatia has a slightly higher Nominal GDP than Bulgaria but is lower than Romania.

Both Croatia's and Slovenia's economy have been sliding while Romania has been growing, Bulgaria is stagnant.

Jugoslavija: As it happens I wasn't talking about the economies but as you brought it up let's add some facts to the stats. Slovenia is streets ahead of the other three in terms of GDP but then it joined the EU on 1 May 2004. Despite the fact that both Romania and Bulgaria have been EU members since 1 Jan 2007, six and a half years longer than Croatia, their GDP is lower. When we get around to 1 July 2022 we will be able to judge the comparative progress that Croatia has made. The level of corruption and nepotism in Romania and Bulgaria was so bad that the usually ridiculously acquiescent EU made them wait 12 months to join beyond the originally agreed date. The most recent TI index had Slovenia at 35, Croatia at 50, Romania at 58 and Bulgaria at 67. Little old Bosnia with all its problems was only 9 places lower at 76. My point is that the reasons why Bulgaria and Romania were allowed to join were far more overtly political than either Slovenia or Croatia. Naturally politics is always a factor but in some cases more so than others.

(ned taylor, 1 February 2016 14:12)

Slovenia and Croatia are slightly better, but not much.
I found Slovenians do not feel being better off than the rest of the Balkans. Many feel they were duped in leaving Yugoslavia. I spent time in Ljubljana, Maribor, Kranj and Kobarid.
I found Croatia a very unpleasant country with very unpleasant people except for Istria and Dalmatia, or parts where there were no Croats but Dalmatians. People would say privately that the war was not necessary and that they lived better in the old Yugoslavia.
Having worked for a long time in finance I find it difficult to understand how Croatia and Slovenia have higher living standards when they both survive from tourism which lasts for 3 months of the year – it’s impossible. They don’t earn enough during that period to cover expenditure for 12 months. It’s called cooking the books and that is why their young people are leaving in large numbers. It is alleged in Croatia the average wage is 700 Euros, but its more like 250 to 300 Euros. Official unemployment is 15% or 16% when its well above 20%.
However, if they do earn enough income from tourism then its an economic miracle that no one has seen before. It’s more like money from Brussels that narrows the deficit.
Poland, Baltic countries, Hungary etc are all the same.

Naturally politics is always a factor but in some cases more so than others.
(ned taylor, 1 February 2016 23:10)

You seem to forgot one important fact, Yugoslavia before it's break up was miles ahead of Bulgaria, Romania and Greece. Serbia's Economy has been devastated the most because it's economic infrastructure was destroyed by NATO. Slovenia and Croatia were already ahead of both Bulgaria and Romania in terms of economic output before they even joined the EU. However, Romania when measured in growth, productivity and employment has far exceeding Croatia in the last five years or so. You also conveniently forgot to discuss the unemployment rate which is growing in Croatia , over 20% while in Romania far below at 6%. Slovenia also has one of the highest unemployment rates in the EU over 10% notwithstanding Greece.

Growing debt levels are another concern where Croatia is over 80% of GDP while Romania and Bulgaria are much lower not even in the 30% range. Croatia and Slovenia are heading towards where Spain, Italy, Portugal and Greece are in terms of debt financing.

Why don't you talk about the Bastardized Bosnian Economy? Since the Dayton Accords in 1995, 20 years later, lowest GDP rates in Europe with unemployment rates at 40% or higher!,it matches the untenable political federation created.

Having worked for a long time in finance I find it difficult to understand how Croatia and Slovenia have higher living standards.
(sj, 2 February 2016 07:45)

Yeah right! If by working in finance you mean being a cashier at MacDonald's, it doesn't qualify. Claiming what people have supposedly told you while you were supposedly touring the world is nothing but pure fantasy, however, if it makes you feel better, I suppose it's harmless. Nonetheless, you should know I am starting to feel very sorry for you.

(EU Citizen, 2 February 2016 11:35)

I did not tour the world but spent 6 months in Europe – March to September. I had the time and money not to rush around and I like to talk to locals and people do open up to me. They are the best barometer of life in any country not the statistical crap involving GDP or PPP.
Please tell me how does Croatia and Slovenia maintain their high standard of living? We already know they have tourism so leave that aside. Now how do they produce this income? Do they make something to sell? Are these two countries financial centres? Do they produce oil or gas?
In Australia the average salary is about $80,000 while the median is about $50,000. I hope you can connect the two.
Also if it’s so rosy in the EU why is Brussels doing another round of quantitative easing? Hmm? LOL. Waiting for your response.

I had the time and money not to rush around and I like to talk to locals and people do open up to me. They are the best barometer of life in any country not the statistical crap involving GDP or PPP.
(sj, 2 February 2016 13:41)

Indeed, people who work in finance, never rely on BS like statistics, GDP, PPP or other evil quantitative methods or macro indicators. They spend their time talking to as many people as they can on the street in order to make investment decisions. If any of the posters of these forums wants to ever become successful in finance like the CE of B92 forums sj, he/she needs to pay careful attention to this great teaching of the CE of B92 forums sj!

P.S. CE = Chief Economist

Please tell me how does Croatia and Slovenia maintain their high standard of living? We already know they have tourism so leave that aside. Now how do they produce this income? Do they make something to sell? Are these two countries financial centres? Do they produce oil or gas?
(sj, 2 February 2016 13:41)

The problem is there is such a large income gap between the high and low income earners that the middle class has essentially been eroded in countries like Greece, Bulgaria, Romania, Croatia and Slovenia.

Just look at an average wages for nurses for example, in Greece the average is between 12-15 thousand Euros per year, in Canada or Australia it would be between 40-50 thousand Euros per year or 4-5 times Greece. (includes foreign exchange differences) According to the statistics , Canada's GDP is only 1.57 times that of Greece.

Thus, the GDP numbers are skewed based on the large income gap. The income gap cannot be ignored in Greece as you can see miles and miles of homeless people sleeping under the large yachts in the high end area of Glyfada, Athens-Greece, should tell you something. The former finance minister Varoufakis new this, unfortunately the PM of Greece Tsipras backed out to the only option Greece has on the table which is bankruptcy, leaving the EU and bringing back the Drachma to take back Greece's economy.

Russia would be doing Serbia a FAVOR if it keeps Serbia from the EU. What's more, these EU agreements Serbia has made have HURT its production and economy and worsened its debt. The EU only cares about particular countries at the helm, and will bully and exploit the others.

Serbia should look to Switzerland, which is not EU, but has good trade and relations nonetheless. So it is free of EU dictates and does fine not being in it.

GDP Nominal per Capita, Romania 19,744, Croatia, 20,947, Slovenia, 29,868, Bulgaria 17,926 according to IMF in 2015.

that is for 2014 ! if you look at wikipedia again !

in 2015 economy of Romania had grow up with 4% and in 2016 with over 4% !

Indeed, people who work in finance, never rely on BS like statistics, GDP, PPP or other evil quantitative methods or macro indicators. They spend their time talking to as many people as they can on the street in order to make investment decisions. If any of the posters of these forums wants to ever become successful in finance like the CE of B92 forums sj, he/she needs to pay careful attention to this great teaching of the CE of B92 forums sj!

P.S. CE = Chief Economist
(icj1, 2 February 2016 15:10)

Our resident Albanian Idiot has used its usual form of learned response – cut and past. Try something original.

(EU Citizen, 2 February 2016 11:35)

Still waiting for your answer or are you writing a doctorate on the subject and it will be ready by 2019.
Albanians are like old faithful. You can expect them to make silly remarks but when asked to show you otherwise there is only deadly silence. Next time just shut up and you will not make a fool of yourself

"Well, it is not a matter of thinking; it is a matter of data and the data says that US has more than enough assets"

"The risk of debt issued by US is much lower than the risk of debt issued by countries like Russia and China. That's what the data says, so your or my thinking does not really matter because the data speaks for itself :)"

P.S. CE = Chief Economist
(icj1, 3 February 2016 19:20) # Co

If you are talking about "Assets" , than you are talking about selling off the Country. I am sure China and Russia will buy back Alaska, California and Texas at bargain basement prices.

The risk of debt is much lower in China and or Russia based on Debt to GDP ratios, what data are you talking about?? The US faces even a bigger risk of the sell of of US foreign securities and driving up the interest rates, the FED is now expected to pursue a tight fiscal policy. Russia, China and the BRICS are moving closer to a Global currency to replace the US currency.
The large US trade deficit and expected interest rate hikes will accelerate the road to bankruptcy for the US.

If any of the posters of these forums wants to ever become successful in finance like the CE of B92 forums sj, he/she needs to pay careful attention to this great teaching of the CE of B92 forums sj!

P.S. CE = Chief Economist
(icj1, 2 February 2016 15:10)

This coming from an idiot who has trouble from simple addition to interest amortization tables. Still think it's mathematically possible for the US to pay back 20 Trillion in Debt?

If any of the posters of these forums wants to ever become successful in finance like the CE of B92 forums sj, he/she needs to pay careful attention to this great teaching of the CE of B92 forums sj!

P.S. CE = Chief Economist
(icj1, 2 February 2016 15:10)

This coming from an idiot who has trouble from simple addition to interest amortization tables.
(Jugoslavija, 2 February 2016 20:59)

Oh, dear!!! The teaching above is coming from an idiot?! B92 should be banning you for calling an idiot the CE of B92 forums sj!
----------

Still think it's mathematically possible for the US to pay back 20 Trillion in Debt?
(Jugoslavija, 2 February 2016 20:59)

Well, it is not a matter of thinking; it is a matter of data and the data says that US has more than enough assets (yes, a balance sheet has also asset's side, if that's news to somebody) to pay 20 Trillion in debt more than once. And, indeed, according to those who have skin in the game (me or you stand nothing to lose if our opinion here is wrong), the risk of debt issued by US is much lower than the risk of debt issued by countries like Russia and China. That's what the data says, so your or my thinking does not really matter because the data speaks for itself :)

P.S. CE = Chief Economist

Indeed, people who work in finance, never rely on BS like statistics, GDP, PPP or other evil quantitative methods or macro indicators. They spend their time talking to as many people as they can on the street in order to make investment decisions. If any of the posters of these forums wants to ever become successful in finance like the CE of B92 forums sj, he/she needs to pay careful attention to this great teaching of the CE of B92 forums sj!

P.S. CE = Chief Economist
(icj1, 2 February 2016 15:10)

Our resident Albanian Idiot has used its usual form of learned response – cut and past. Try something original.
(sj, 2 February 2016 22:39)

Why should I try something else? Aren't the teachings of the CE of B92 forums sj valid?

P.S. CE = Chief Economist

P.S. CE = Chief Economist
(icj1, 3 February 2016 19:20)

A fine example why our resident Albanian Idiot rarely makes comment because you can run trains through its arguments.
Now lest see if this is correct, an asset such as an oil, for example, extracted from the ground in the US is more valuable than the same in Russia or China because the force is with Washington. Have I got that right?
I love this part; the risk of debt issued by the US is much lower than …..Russia and China. Who the f*** told you that? LOL. Data tells you that, eh? Now if you believe that I will give you a shiny spoon for your car; yes it’s nice and shiny LOL.
The risk of debt is assessed by ratings agencies like Standard and Poors and it was those very agencies that gave the triple AAA rating on all toxic loans and that is why we no longer have Asian financial institutions tied to any announcements made by those agencies.
An assessment made by those agencies is now only their opinion and that does not mean oil pumped in the US its more valuable.
I intend to email your comment to a couple of former work colleagues and I can guarantee your post will do the rounds during Friday evening drinks after work.

Our resident Albanian Idiot has used its usual form of learned response – cut and past. Try something original.
(sj, 2 February 2016 22:39)

Why should I try something else? Aren't the teachings of the CE of B92 forums sj valid?

P.S. CE = Chief Economist
(icj1, 3 February 2016 19:38)
Good to see that you agree with sj teachings that you are an idiot. Keep it up you’re on the right track. Recognition of one’s problem is the first step to a cure.

Even if Serbia recognised Kosovo today they would not join the EU for many years.
Brussels is creaking with the burden of countries in the EU with their hands extended for a handout. There are too many waiting for money and not enough countries bring in the proverbial bacon. The maths is very simple.
Why did they take Slovenia, Croatia or Romania and Bulgaria? Two reasons; first they were all with the heel clickers during WW2 and second is fear that Russia might have influence in Europe.
People fool themselves into believing that Croatia has any say in who or what joins. The Croats have no real backbone except when they have a protector so if Germany says yes it all over red rover and Croatia will be told to vote yes and shut up. Have a look at last year’s debacle with Croatia refusing entry to Serbian vehicles. Belgrade closed the border and it took a very short time for Brussels to tell the Croats to pull their heads in.

If there were a proper and free discussion of the merits of EU membershoip, then 90% of the people of Serbia (not only Serbians) would vote against EU membership. The countries of eastern Europe who have joined the EU are worse today than they were before they joined. My evidence for this statement? The fact that the young and skilled of eastern Europe are fleeing their countries for work in the west. The EU was supposed to bring prosperity and give people a future in their own country. But this is obviously not the case. There are so many Poles in the UK that not only do they have thousands of their own supermarkets, but all the big supermarkets have Polish food sections in their stores. Poland, Latvia, Estonia, and Lithuania are being depopulated of their young. Soon only the old will remain and when they die they will leave empty, barren countries. That is what the EU promises Serbia. Of course the EU fanatics will not agree, but nor will they allow a free discussion so that the public can be better informed.

Michael Thomas: You make some valid points, but your logic does not add up. If so many young people in new member countries are jumping at the opportunity to go and work and live in other EU countries, one assumes that Serbia's youth would be all for Serbia's EU membership and thus your figure of 90% seems way out. I imagine that, Kosovo aside, the views of the population are evenly split with the under 40s probably in favour of membership and the over 40s against. SJ: you are right where Romania and Bulgaria are concerned but I would not put them in the same category as Slovenia or Croatia. Ljubljana and Zagreb are worlds apart from Bucharest and Sofia.

Those most likely to undermine Serbia's EU path are, in order, the EU, Serbia and possibly Croatia if they decide to follow Slovenia's lead and try to extract their pound of flesh.

Oh don't worry budfy, Putin isn't stupid. He learned from UN what a gold mine these type of organizations are. Serbs for instance would get EU agricultural subsidies and imediately spend them on rusdian tractors. Membership meal ticket also means a more easy way to ship refugees to another country.

"If there were a proper and free discussion of the merits of EU membershoip, then 90% of the people of Serbia (not only Serbians) would vote against EU membership. The countries of eastern Europe who have joined the EU are worse today than they were before they joined. My evidence for this statement? The fact that the young and skilled of eastern Europe are fleeing their countries for work in the west. The EU was supposed to bring prosperity and give people a future in their own country. But this is obviously not the case. There are so many Poles in the UK that not only do they have thousands of their own supermarkets, but all the big supermarkets have Polish food sections in their stores. Poland, Latvia, Estonia, and Lithuania are being depopulated of their young. Soon only the old will remain and when they die they will leave empty, barren countries. That is what the EU promises Serbia. Of course the EU fanatics will not agree, but nor will they allow a free discussion so that the public can be better informed.
(Michael Thomas, 1 February 2016 13:18) "

Your evidence the EU is a failure and worse off today is young people fleeing to the west? But Bosnia, Serbia, Macedonia, Kosovo, and Montenegro are not EU and there is still this problem of young people fleeing to the west. No EU needed. So maybe the problem isn't as much the EU as it is the legacy of communism as we see most of the people fleeing to west Europe are coming from former communist countries.

Ljubljana and Zagreb are worlds apart from Bucharest and Sofia.
(ned taylor, 1 February 2016 14:12)

Really!? Worlds apart! You might want to review your facts and economic data because you are wrong.

GDP Nominal per Capita, Romania 19,744, Croatia, 20,947, Slovenia, 29,868, Bulgaria 17,926 according to IMF in 2015.

Unemployment Rate, Croatia 15.8%, Bulgaria 9.5%, Slovenia, 9.1, Romania 6.8

Both Bulgaria and Romania Unemployment rates are better than Croatia, Croatia has a slightly higher Nominal GDP than Bulgaria but is lower than Romania.

Both Croatia's and Slovenia's economy have been sliding while Romania has been growing, Bulgaria is stagnant.

Having worked for a long time in finance I find it difficult to understand how Croatia and Slovenia have higher living standards.
(sj, 2 February 2016 07:45)

Yeah right! If by working in finance you mean being a cashier at MacDonald's, it doesn't qualify. Claiming what people have supposedly told you while you were supposedly touring the world is nothing but pure fantasy, however, if it makes you feel better, I suppose it's harmless. Nonetheless, you should know I am starting to feel very sorry for you.

Jugoslavija: As it happens I wasn't talking about the economies but as you brought it up let's add some facts to the stats. Slovenia is streets ahead of the other three in terms of GDP but then it joined the EU on 1 May 2004. Despite the fact that both Romania and Bulgaria have been EU members since 1 Jan 2007, six and a half years longer than Croatia, their GDP is lower. When we get around to 1 July 2022 we will be able to judge the comparative progress that Croatia has made. The level of corruption and nepotism in Romania and Bulgaria was so bad that the usually ridiculously acquiescent EU made them wait 12 months to join beyond the originally agreed date. The most recent TI index had Slovenia at 35, Croatia at 50, Romania at 58 and Bulgaria at 67. Little old Bosnia with all its problems was only 9 places lower at 76. My point is that the reasons why Bulgaria and Romania were allowed to join were far more overtly political than either Slovenia or Croatia. Naturally politics is always a factor but in some cases more so than others.

GDP Nominal per Capita, Romania 19,744, Croatia, 20,947, Slovenia, 29,868, Bulgaria 17,926 according to IMF in 2015.

that is for 2014 ! if you look at wikipedia again !

in 2015 economy of Romania had grow up with 4% and in 2016 with over 4% !

(ned taylor, 1 February 2016 14:12)

Slovenia and Croatia are slightly better, but not much.
I found Slovenians do not feel being better off than the rest of the Balkans. Many feel they were duped in leaving Yugoslavia. I spent time in Ljubljana, Maribor, Kranj and Kobarid.
I found Croatia a very unpleasant country with very unpleasant people except for Istria and Dalmatia, or parts where there were no Croats but Dalmatians. People would say privately that the war was not necessary and that they lived better in the old Yugoslavia.
Having worked for a long time in finance I find it difficult to understand how Croatia and Slovenia have higher living standards when they both survive from tourism which lasts for 3 months of the year – it’s impossible. They don’t earn enough during that period to cover expenditure for 12 months. It’s called cooking the books and that is why their young people are leaving in large numbers. It is alleged in Croatia the average wage is 700 Euros, but its more like 250 to 300 Euros. Official unemployment is 15% or 16% when its well above 20%.
However, if they do earn enough income from tourism then its an economic miracle that no one has seen before. It’s more like money from Brussels that narrows the deficit.
Poland, Baltic countries, Hungary etc are all the same.

I had the time and money not to rush around and I like to talk to locals and people do open up to me. They are the best barometer of life in any country not the statistical crap involving GDP or PPP.
(sj, 2 February 2016 13:41)

Indeed, people who work in finance, never rely on BS like statistics, GDP, PPP or other evil quantitative methods or macro indicators. They spend their time talking to as many people as they can on the street in order to make investment decisions. If any of the posters of these forums wants to ever become successful in finance like the CE of B92 forums sj, he/she needs to pay careful attention to this great teaching of the CE of B92 forums sj!

P.S. CE = Chief Economist

(EU Citizen, 2 February 2016 11:35)

Still waiting for your answer or are you writing a doctorate on the subject and it will be ready by 2019.
Albanians are like old faithful. You can expect them to make silly remarks but when asked to show you otherwise there is only deadly silence. Next time just shut up and you will not make a fool of yourself

(EU Citizen, 2 February 2016 11:35)

I did not tour the world but spent 6 months in Europe – March to September. I had the time and money not to rush around and I like to talk to locals and people do open up to me. They are the best barometer of life in any country not the statistical crap involving GDP or PPP.
Please tell me how does Croatia and Slovenia maintain their high standard of living? We already know they have tourism so leave that aside. Now how do they produce this income? Do they make something to sell? Are these two countries financial centres? Do they produce oil or gas?
In Australia the average salary is about $80,000 while the median is about $50,000. I hope you can connect the two.
Also if it’s so rosy in the EU why is Brussels doing another round of quantitative easing? Hmm? LOL. Waiting for your response.

If any of the posters of these forums wants to ever become successful in finance like the CE of B92 forums sj, he/she needs to pay careful attention to this great teaching of the CE of B92 forums sj!

P.S. CE = Chief Economist
(icj1, 2 February 2016 15:10)

This coming from an idiot who has trouble from simple addition to interest amortization tables. Still think it's mathematically possible for the US to pay back 20 Trillion in Debt?

Indeed, people who work in finance, never rely on BS like statistics, GDP, PPP or other evil quantitative methods or macro indicators. They spend their time talking to as many people as they can on the street in order to make investment decisions. If any of the posters of these forums wants to ever become successful in finance like the CE of B92 forums sj, he/she needs to pay careful attention to this great teaching of the CE of B92 forums sj!

P.S. CE = Chief Economist
(icj1, 2 February 2016 15:10)

Our resident Albanian Idiot has used its usual form of learned response – cut and past. Try something original.

P.S. CE = Chief Economist
(icj1, 3 February 2016 19:20)

A fine example why our resident Albanian Idiot rarely makes comment because you can run trains through its arguments.
Now lest see if this is correct, an asset such as an oil, for example, extracted from the ground in the US is more valuable than the same in Russia or China because the force is with Washington. Have I got that right?
I love this part; the risk of debt issued by the US is much lower than …..Russia and China. Who the f*** told you that? LOL. Data tells you that, eh? Now if you believe that I will give you a shiny spoon for your car; yes it’s nice and shiny LOL.
The risk of debt is assessed by ratings agencies like Standard and Poors and it was those very agencies that gave the triple AAA rating on all toxic loans and that is why we no longer have Asian financial institutions tied to any announcements made by those agencies.
An assessment made by those agencies is now only their opinion and that does not mean oil pumped in the US its more valuable.
I intend to email your comment to a couple of former work colleagues and I can guarantee your post will do the rounds during Friday evening drinks after work.

Our resident Albanian Idiot has used its usual form of learned response – cut and past. Try something original.
(sj, 2 February 2016 22:39)

Why should I try something else? Aren't the teachings of the CE of B92 forums sj valid?

P.S. CE = Chief Economist
(icj1, 3 February 2016 19:38)
Good to see that you agree with sj teachings that you are an idiot. Keep it up you’re on the right track. Recognition of one’s problem is the first step to a cure.

Naturally politics is always a factor but in some cases more so than others.
(ned taylor, 1 February 2016 23:10)

You seem to forgot one important fact, Yugoslavia before it's break up was miles ahead of Bulgaria, Romania and Greece. Serbia's Economy has been devastated the most because it's economic infrastructure was destroyed by NATO. Slovenia and Croatia were already ahead of both Bulgaria and Romania in terms of economic output before they even joined the EU. However, Romania when measured in growth, productivity and employment has far exceeding Croatia in the last five years or so. You also conveniently forgot to discuss the unemployment rate which is growing in Croatia , over 20% while in Romania far below at 6%. Slovenia also has one of the highest unemployment rates in the EU over 10% notwithstanding Greece.

Growing debt levels are another concern where Croatia is over 80% of GDP while Romania and Bulgaria are much lower not even in the 30% range. Croatia and Slovenia are heading towards where Spain, Italy, Portugal and Greece are in terms of debt financing.

Why don't you talk about the Bastardized Bosnian Economy? Since the Dayton Accords in 1995, 20 years later, lowest GDP rates in Europe with unemployment rates at 40% or higher!,it matches the untenable political federation created.

Please tell me how does Croatia and Slovenia maintain their high standard of living? We already know they have tourism so leave that aside. Now how do they produce this income? Do they make something to sell? Are these two countries financial centres? Do they produce oil or gas?
(sj, 2 February 2016 13:41)

The problem is there is such a large income gap between the high and low income earners that the middle class has essentially been eroded in countries like Greece, Bulgaria, Romania, Croatia and Slovenia.

Just look at an average wages for nurses for example, in Greece the average is between 12-15 thousand Euros per year, in Canada or Australia it would be between 40-50 thousand Euros per year or 4-5 times Greece. (includes foreign exchange differences) According to the statistics , Canada's GDP is only 1.57 times that of Greece.

Thus, the GDP numbers are skewed based on the large income gap. The income gap cannot be ignored in Greece as you can see miles and miles of homeless people sleeping under the large yachts in the high end area of Glyfada, Athens-Greece, should tell you something. The former finance minister Varoufakis new this, unfortunately the PM of Greece Tsipras backed out to the only option Greece has on the table which is bankruptcy, leaving the EU and bringing back the Drachma to take back Greece's economy.

If any of the posters of these forums wants to ever become successful in finance like the CE of B92 forums sj, he/she needs to pay careful attention to this great teaching of the CE of B92 forums sj!

P.S. CE = Chief Economist
(icj1, 2 February 2016 15:10)

This coming from an idiot who has trouble from simple addition to interest amortization tables.
(Jugoslavija, 2 February 2016 20:59)

Oh, dear!!! The teaching above is coming from an idiot?! B92 should be banning you for calling an idiot the CE of B92 forums sj!
----------

Still think it's mathematically possible for the US to pay back 20 Trillion in Debt?
(Jugoslavija, 2 February 2016 20:59)

Well, it is not a matter of thinking; it is a matter of data and the data says that US has more than enough assets (yes, a balance sheet has also asset's side, if that's news to somebody) to pay 20 Trillion in debt more than once. And, indeed, according to those who have skin in the game (me or you stand nothing to lose if our opinion here is wrong), the risk of debt issued by US is much lower than the risk of debt issued by countries like Russia and China. That's what the data says, so your or my thinking does not really matter because the data speaks for itself :)

P.S. CE = Chief Economist

Indeed, people who work in finance, never rely on BS like statistics, GDP, PPP or other evil quantitative methods or macro indicators. They spend their time talking to as many people as they can on the street in order to make investment decisions. If any of the posters of these forums wants to ever become successful in finance like the CE of B92 forums sj, he/she needs to pay careful attention to this great teaching of the CE of B92 forums sj!

P.S. CE = Chief Economist
(icj1, 2 February 2016 15:10)

Our resident Albanian Idiot has used its usual form of learned response – cut and past. Try something original.
(sj, 2 February 2016 22:39)

Why should I try something else? Aren't the teachings of the CE of B92 forums sj valid?

P.S. CE = Chief Economist

"Well, it is not a matter of thinking; it is a matter of data and the data says that US has more than enough assets"

"The risk of debt issued by US is much lower than the risk of debt issued by countries like Russia and China. That's what the data says, so your or my thinking does not really matter because the data speaks for itself :)"

P.S. CE = Chief Economist
(icj1, 3 February 2016 19:20) # Co

If you are talking about "Assets" , than you are talking about selling off the Country. I am sure China and Russia will buy back Alaska, California and Texas at bargain basement prices.

The risk of debt is much lower in China and or Russia based on Debt to GDP ratios, what data are you talking about?? The US faces even a bigger risk of the sell of of US foreign securities and driving up the interest rates, the FED is now expected to pursue a tight fiscal policy. Russia, China and the BRICS are moving closer to a Global currency to replace the US currency.
The large US trade deficit and expected interest rate hikes will accelerate the road to bankruptcy for the US.

Russia would be doing Serbia a FAVOR if it keeps Serbia from the EU. What's more, these EU agreements Serbia has made have HURT its production and economy and worsened its debt. The EU only cares about particular countries at the helm, and will bully and exploit the others.

Serbia should look to Switzerland, which is not EU, but has good trade and relations nonetheless. So it is free of EU dictates and does fine not being in it.