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Old 05-24-2010, 12:45 PM
 
2,515 posts, read 1,751,236 times
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The pop is coming. A bank in Spain was nationalized. The euro was lower.



That doesn't mean very much as the dollar is paper dragon.
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Old 03-07-2011, 12:36 PM
 
2,515 posts, read 1,751,236 times
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Front Page (http://boombustblog.com/reggie-middleton/2011/03/07/moodys-very-late-but-nevertheless-quite-appropriate-greek-downgrade-inches-us-closer-to-the-rate-volatility-storm/ - broken link) The sovereign debt bubble is starting to pop.
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Old 03-07-2011, 12:40 PM
 
Location: Londonderry, NH
41,490 posts, read 52,149,893 times
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So, why should I be worried about the Banks of Europe having problems? How are these my problem?
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Old 03-07-2011, 01:16 PM
 
Location: Raleigh, NC
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Domino effect. It's coming here, in spades.
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Old 03-07-2011, 01:20 PM
 
Location: Raleigh, NC
20,028 posts, read 15,960,584 times
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Speaking of pop, anyone seen GM stock lately?
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Old 03-07-2011, 01:23 PM
 
Location: Great State of Texas
86,093 posts, read 73,688,500 times
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Greece got downgraded a full 3 notches by Moody's due to increased default risk.
Moody's downgrade tips Greece closer to brink - Yahoo! News (http://news.yahoo.com/s/nm/20110307/bs_nm/us_eurozone - broken link)

And yes we need to care. Nations are too interconnected to dismiss what is happening.
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Old 03-07-2011, 04:12 PM
 
2,515 posts, read 1,751,236 times
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Quote:
Originally Posted by HappyTexan View Post
Greece got downgraded a full 3 notches by Moody's due to increased default risk.
Moody's downgrade tips Greece closer to brink - Yahoo! News (http://news.yahoo.com/s/nm/20110307/bs_nm/us_eurozone - broken link)

And yes we need to care. Nations are too interconnected to dismiss what is happening.
Even tho Greece is the size of our state of Georgia.
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Old 03-09-2011, 09:05 AM
 
2,515 posts, read 1,751,236 times
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Quote:
Originally Posted by GregW View Post
So, why should I be worried about the Banks of Europe having problems? How are these my problem?
What Summers said. When you start questioning weather the emperor is wearing any cloths then you come up with the fact that unless we make big changes, like bumping the minimum wage by 4X, we are going to default on our national debt.
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Old 03-09-2011, 10:22 AM
 
Location: PA
5,562 posts, read 5,046,018 times
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Quote:
Originally Posted by GregW View Post
So, why should I be worried about the Banks of Europe having problems? How are these my problem?

That's funny coming from a self-acknowledged socialist :-)
Over the last 8 years or so, we have witnessed a government more interested in protecting corporations, covering up their mistakes, conflicting views on foreign policy and its actions. All of which is accomplished by a government filled with the power and money to bring about the changes they deem fit over personal liberty and responsibility.
Nobody in corporate America is responsible and before the 2010 election government seemed like another place that could never be changed.
Our system of government is full of people who think government is the solution to all social and economic problems. When they created the problems in the first place Freddie Mac and Mae and some how that program was "saved". Corporations must have something to lose, banks must have something to lose, when we want to hand out money from the mouths of the tax payers those programs must be accountable. Government must be accountable and corporations must fail that is the free market and in the free market they might not have even got to where they are today with the work of government.
The American people lost their way and I can't say when it happened but they did. They gave up on accountable principled government and turned to a dieted, regulated, intrusive state pushed along with special interest groups. Who are those speical interests? Banks, welfare government advocates, religious groups, warfare and economic leeches sucking the very blood of our freedom and all the while liberty erodes. Creating more the same programs and laws to counteract the original problem of which in most cases had no business in the halls of washington. Government has ignored individual rights and created the rights of business, groups, races and religion as its base functions for who and where we will spend money we don't even have. They take the same ideology and apply it the rest of the world. Foeign aid, US stability interests and wars. The daily propaganda that we are better off with them in control and protecting us from ourselves and the illusive enemy is our only choice.

Solution: You can not trust government nor can you trust any corporation for your happiness, your life and your liberty.
Trust in yourself and trust in they money you work for is your money, your fruit of your labor. Nobody shall have the right to take it from you.
To support the idea of liberty and limit the power of government we must keep its money supply LOW. Congress can lay taxes uniform across all states low in numbers giving everyone the maximum freedom while making sure government with less only protects your rights. So even if Americans lose their way and forget they are the masters of their own destiny government will be to small to change that course.
Only with free speech can the people be reminded what they have and what has been taken from them.
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Old 03-09-2011, 11:06 AM
 
19,216 posts, read 13,214,516 times
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Quote:
Originally Posted by newonecoming2 View Post
What Summers said. When you start questioning weather the emperor is wearing any cloths then you come up with the fact that unless we make big changes, like bumping the minimum wage by 4X, we are going to default on our national debt.
Spool of thread and a needle?


http://www.youtube.com/watch?v=sfYoNPJcN30&NR=1
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