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LWW
05-07-2010, 06:09 AM
As bad as the US debt load is, let's put it in perspective ... and see how the Greek problems are simply the first puss filled zit of socialism exploding onto the face of the continent. As measured in debt as a ratio of GDP:

Luxemburg 4,910%
Monaco 1,850%.
Ireland 1,312%!
Iceland 9-98.5%.
United Kingdom 425.9%.
Switzerland 382.2%.
Netherlands 376.6%.
Belgium 328.7%
Denmark 316%.
Sweden 264.3%.
Austria 256.2%.
France 248.0%.
Portugal 235.9%.
Finland 220.2%.
Norway 202.6%.
Spain 186.1%.
Germany 182.5%.
Greece 170.5%.
Italy 147.4%.
Hungary 121.9%.
United States of America 96.5%.

Combining their debt issues, there absolutely staggering unfunded pension and welfare liabilities, the fact that they are all in possession of a birth rate that will not even support replacement levels, a massive immigration of Muslims to fill the revenue gap ... yet hasn't, well I can't see any means of escape for them other a mass default on debt of unparalleled amounts.

When, not if, this happens there should be little doubt that violence will spill into the streets similar to Europe of the 1920's and 1930's.

The comparisons between this and the economic collapse which propelled lunatics like Mussolini and Hitler to power are quite eery.

Tossed into the mix are at least 4 nuclear powers on the continent and that we have a massive military presence in the middle of a tinderbox and you have a terrifying storm brewing.

>>>SCARY NUMBERS<<< (http://www.cnbc.com/id/33506526)

LWW

Sev
05-07-2010, 06:30 AM
Greece is somewhere in the neighborhood of 160,000,000 in arrears.
The call for us to bail them out is coming. But with what???

Also notice in Greece it is the unions that are starting the riots. Their pension packages are huge and they are not willing to give anything up.

Couple other things to add to the mix.

The strength of the dollar is rising and everybody that has been shorting it is getting out.
A strong dollar will have economic consequences.

China has lost 4% on its stock market this week. And has been selling off for quite some time now.
This is not being talked about much.

Contractors in China have started offering 15% discounts on there housing. The Chinese government is clamping down in speculative housing starts in an attempt to head off their housing bubble.

My hope is China implodes first.

Qtec
05-07-2010, 06:36 AM
Thanks.


Q

Qtec
05-07-2010, 06:46 AM
Look, this world credit crisis CAME from Wall St, they made all of this happen.

Greece had been spending too much for too long and had been hiding the facts about the economy for a long time. When they were desperate, Goldman Sachs came along with some great investments and a way to hide these transactions from the accounting.

Where did all the money go?

Q

Chopstick
05-07-2010, 07:09 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Qtec</div><div class="ubbcode-body">Look, this world credit crisis CAME from Wall St, they made all of this happen.

<span style="color: #000099">Wall St. does not issue European securities. You guys are just as dirty as we are and the stock market is twice as old as America. You guys were ripping off the world with sophisticated scams back when we were chasing turkeys through the woods with muskets.</span>

Greece had been spending too much for too long and had been hiding the facts about the economy for a long time. When they were desperate, Goldman Sachs came along with some great investments and a way to hide these transactions from the accounting.

Where did all the money go?

<span style="color: #000099">Credit Suisse, Deutsche Bank</span>

Q </div></div>

Chopstick
05-07-2010, 07:14 AM
They really are toast. Greece has a bond payment due this month and they do not have the money. Portugal and Spain are not far behind. If they default the way Russia did, it will get ugly. The Euro could collapse.

Sev
05-07-2010, 07:22 AM
Its not all from Wall St.
That is disingenuous. The world economic factors dont just boil down to the DOW, NASDAQ or the other trading mechanisms.

The internal methods in which a country operates has far more effect. All of these nations, including America are living outside their means. When you are doing a juggling act eventually your going to drop the pins.

If things collapse we will witness the cost of outsourcing almost all our major manufacturing in America.
In the long term this could be a boon and bring America back into and industrial mode. However in the interim the price will be steep.

LWW
05-07-2010, 05:09 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Qtec</div><div class="ubbcode-body">Look, this world credit crisis CAME from Wall St, they made all of this happen.

Q </div></div>

No it didn't ... but, you already knew that. You just can't admit it.

Europe is toast because of runaway socialism and insane immigration policy.

LWW

sack316
05-08-2010, 01:00 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Qtec</div><div class="ubbcode-body">Look, this world credit crisis CAME from Wall St, they made all of this happen. </div></div>

A crisis indeed did pretty much come from Wall St. THIS crisis came from EU. And this tumbling on Wall St. the last few days came from Greece.


<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Qtec</div><div class="ubbcode-body">Greece had been spending too much for too long and had been hiding the facts about the economy for a long time. </div></div>

Ah, so there we get to the original source for this. Thank you for seeing the truth in this.

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Qtec</div><div class="ubbcode-body">When they were desperate,</div></div>

Why were they desperate? Not because of Wall Street.

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Qtec</div><div class="ubbcode-body">Goldman Sachs came along with some great investments and a way to hide these transactions from the accounting.

Where did all the money go?

Q </div></div>

Sounds to me like this kinda fell in line with the grifter's code. Whatever GS was selling, they were buying. Greed and pride allowed it to happen. They could have fell in line with EU, and probably been OK. They didn't want to, they took a chance.

Not saying GS or Wall St. are saints in all this... by no means do I mean that. But Greece wasn't exactly and angel either.

Sack

LWW
05-08-2010, 02:34 AM
The scary thing is that most of Europe is in far worse shape than Greece.

LWW