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Greek debt

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    Greek debt

    ...is tiny compared to Italy's

    Could Italy Be the Next European Domino?: Simon Johnson - Bloomberg

    Is Italy going to bring everything crashing down?

    I'm alright Jack

    #2
    Fingers crossed.
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      #3
      Originally posted by BlasterBates View Post
      ...is tiny compared to Italy's
      And both of them put together are tiny compared to.....guess who?!!

      Last edited by scooterscot; 6 July 2011, 18:34.
      "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

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        #4
        And before anyone becomes all judgemental about other countries...

        Greece blasts ratings agency 'madness' as Portugal downgraded to 'junk'

        Regardless of whatever the currency, single, our own we can print, regardless of all that when the curtains fall the economies that progress will be the ones that have something to offer the world. It's not rocket science.

        The quote sums it up for me:

        I am astonished that the markets are at the height they are anyway.

        I know a number of bankers, and I can safely say that not one of them understands the position we, or the entire Western economy is in.

        They seem to be "mentally challenged" when it comes to seeing the bigger picture. This is presumably why their insular and anal mentality enables them to sift through hundreds of pages of figures and legalese thatat would drive most people to suicide.

        As I understand it, this is the situation we are in:

        The next 20 years will be nothing like the last 50, which have seen
        an ever-increasing level of wealth and prosperity in the capitalist
        West.

        Our manufacturing economies have given way to consumer economies based around spiralling house prices, huge personal debt, huge government debt, and Banksters making their golden-crumbs on a massive, debt-fuelled, fractional-reserve mega- geared Ponzi scheme.

        The ultimate tragedy here is that the bankers debts are now being
        channeled onto the shoulders of an ever-decreasing demographic tax base, which also has to support an ever-growing welfare dependency. This scenario is simply unworkable.

        Economically, we are absolutely and completely screwed. This is not just an occasional economic crisis, this is the end of the Capitalist West.
        "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

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          #5
          The wider picture:

          Hedge Funds Move Past Greece With Bets on Wider Debt Crisis - Bloomberg

          Perhaps we should add the US in there as well.
          I'm alright Jack

          Comment


            #6
            I heard an unofficial and very speculative rumour about 3 EU economies defaulting within next 12-16 months anjd 1 large asian economy..#

            Just remember you can make money when markets go down as well as up folks.
            "Is someone you don't like allowed to say something you don't like? If that is the case then we have free speech."- Elon Musk

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              #7
              I wonder how this is all going to pan out and when.

              Comment


                #8
                Originally posted by TimberWolf View Post
                I wonder how this is all going to pan out and when.
                Don't know but I shall be following whatever traends are in place whatever direction they go in.
                "Is someone you don't like allowed to say something you don't like? If that is the case then we have free speech."- Elon Musk

                Comment


                  #9
                  Originally posted by Jog On View Post
                  Don't know but I shall be following whatever traends are in place whatever direction they go in.
                  If 3 go down, wouldn't that bring the others tumbling after? The premise being that richer economies borrow money at say 3% and lend to poorer ones at say 8% or so and rising, which is a neat trick if you can get away with it, and in the case of defaults, not only don't the richer economies get their loovely interest payments, but their original money is gone and they still have to pay back their own debt, perhaps with increased interest rates too.

                  Comment


                    #10
                    Originally posted by TimberWolf View Post
                    I wonder how this is all going to pan out and when.
                    I for one welcome our ... Overlords!

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