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Old 10-28-2011, 01:54 PM
 
19,346 posts, read 17,182,641 times
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Quote:
Originally Posted by newonecoming2 View Post
http://boombustblog.com/BoomBustBlog...dit-Event.html


Some good reading on the Greek debt issues.

Nice....

There is only one hope newonecoming2. We need someone who will go into debt who is not currently saturated with it.



Growing Homelessness in America « Jericho Rendezvous

New liquidity with that wheel chair serving as collateral....
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Old 10-28-2011, 01:56 PM
 
2,515 posts, read 1,840,241 times
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Quote:
Originally Posted by gwynedd1 View Post
Nice....

There is only one hope newonecoming2. We need someone who will go into debt who is not currently saturated with it.



Growing Homelessness in America « Jericho Rendezvous

New liquidity with that wheel chair serving as collateral....
Tong in cheek, cash man, cash that is what we need and jobs to do and a lot more pay for those jobs....
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Old 10-28-2011, 02:04 PM
 
19,346 posts, read 17,182,641 times
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You had better believe it. I really don't know why everybody is glazing over this very obvious fact! Imagine if you bought protection on a bond you acquired at par and you are offered 50% of it back (NPV) to be considered whole while the CDS writer laughs at and says thanks for the premiums... You'd probably break your fingers dialing your lawyer - out of both the swap payments, the CDS payout, and 50% of your investment that you thought (but really should have known better) was protected!

Well, guess what happens to an annuity when the insurance company goes bust. Sorry buddy. No risk is a myth.
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Old 10-28-2011, 02:13 PM
 
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Reggie is the man. Gotta love his stile.
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Old 10-28-2011, 02:20 PM
 
19,346 posts, read 17,182,641 times
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Advantages & Disadvantages

Disadvantages

3. Loss of Sovereignty.

4. Deflationary tendencies.


How do you control this without a Greek form of liquidity? They can't pay it back. The best scenario is to carve it out of the EU and let Greece create its own money. That alone even frees up euros to pay off the creditors. Greek austerity from further imports seems right, but not from having no means to have an internal economy. The Greeks could further solve their problems from their under taxed rich. Lastly someone has to eat it. Who put a gun to your head to make a loan? I don't loan money to just anyone, and if I did, its my problem.


Pay attention to #3. The Federal Reserve System has brought the power of our own states to ruin.
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Old 10-29-2011, 12:58 PM
 
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Greece should set up a local currency. Local currency - Wikipedia, the free encyclopedia Keep the EU intact but have a local to Greece dollar that is exchanged at par. This should help.
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