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“it is funny because if you look at historical headlines from the early innings of sovereign default waves they are so similar.
1. they ALWAYS say that the default of this country does not impact economic growth of "insert home country name here"
2. then once some credit spreads start blowing out they then say the damage is contained.
3. due to negative feedback loops and banking exposure it is nearly impossible to contain damage like this and it basically always has serious impact to the growth profile of neighbors and trade partners.
doesn't matter if its 1870 or 1990, I see these same similarities in the news from the time....”From the comment section of the blog.
“it is funny because if you look at historical headlines from the early innings of sovereign default waves they are so similar.
1. they ALWAYS say that the default of this country does not impact economic growth of "insert home country name here"
2. then once some credit spreads start blowing out they then say the damage is contained.
3. due to negative feedback loops and banking exposure it is nearly impossible to contain damage like this and it basically always has serious impact to the growth profile of neighbors and trade partners.
doesn't matter if its 1870 or 1990, I see these same similarities in the news from the time....”From the comment section of the blog.
The do do has hit the fan.
Take note of what will be coming to you if the insane liberal spending continues.
Not. The blog I've linked to does first class research.
Quote:
Originally Posted by hawkeye2009
Take note of what will be coming to you if the insane liberal spending continues.
More like we need a balanced budget and we need it now. More to the point we need an national savings rate high enough to finance our own national debt. And we need the economy at 100% NOW. We are in about the same budgetary condition as Greece.
Quote:
Originally Posted by harrymiafl
Debt should not be a taboo...
Through debt,individuals,families & nations may prosper...
Debt is not inherently bad. Not owning your own debt is.
Quote:
Originally Posted by summers73
Debt used to feed consumption and social programs fail. Only debt used to increase productivity should ever be tolerated.
WORLD FOREX: Euro Slumps As Greece's Debt Problems Linger - WSJ.com (http://online.wsj.com/article/BT-CO-20100407-713065.html?mod=WSJ_World_MIDDLEHeadlinesAsia - broken link)
"As Greece faces 21 billion euros in debt obligations coming due in April and May, investors worry whether the emergency financial aid package put together by the European Union last month will still hold. At stake is the steep cost the Greek government has to pay to lure buyers to roll over its debt, thus making it more difficult to lower its ballooning budget deficit."
We are just around the corner from this our selves.
Ooops..didn't see this post..started another thread.
It's worse than that...some Greek government offices have already spent nearly 50% of their annual allotments the first 2 months of this year. The spending has not stopped.
Their bond auction sank.
They now want to declare themselves an "emerging nation" and come over here to sell some bonds in the US markets to get money.
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