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The headlines this a.m. tell us that the markets fell on the news Tuesday that coalition government talks in Greece have failed after nine days of discussions, meaning the country is heading for another election next month.
The worry in the markets is that the next round may lead to the triumph of parties that want to scrap the country's bailout agreements with international creditors, which would put Greece's membership of the euro into jeopardy. The left-wing Syriza party, which came second in the vote on May 6, has said the draconian terms of Greece's financial rescue agreements be scrapped or rewritten.
Any faint hopes that the parties would come to an agreement were dashed when Evangelos Venizelos, the leader of the PASOK socialist party said the talks had failed and another election would be held......
So, all wise O.T., what's gonna' happen?
Predictions please -- what will it look like in the middle of October?
The serenity to accept the things I cannot change, The courage to change the things I can, And the wisdom to know the difference.
How exactly will we see it? New money? Hyper inflation? Strikes? Riots?
Total socio-economic collapse.
Won't that be something.
Any place you can think of recently that's comparable, where we've seen "anarchy, total socio-economic collapse," or anything close to it, so we can have an idea of what we've going to be seeing?
And when? Fireworks by the Fourth of July?.
Seriously, though, I am struggling with seeing the future will work out with how resolute and seemingly totally lost to reality the entitlement-loving populace of Greece seems to be. You would think they would have enough education and appreciation for human rights and liberties to be able to figure this thing out, but their determined detachment from productivity and economic reality completely obscures the eventual outcome.
I started looking into it, and here's CBS --
COMMENTARY So what happens if Greece repudiates its debt and leaves the euro? It would have a big impact beyond Greek borders, but no one is sure how big. Inside Greece's borders it could be the best, fastest way to rebuild the nation's economy. Here are some possible outcomes to the situation:
The impact on Greece:
Many experts, including the IMF which has loaned Greece billions of dollars, believe that leaving the euro is in the nation's best interest. The Greeks would go through a very tumultuous period for about two years where its economy would fall farther and faster than it is currently. But when it is over, the economy would probably grow much faster than it would otherwise.
If the Greeks stop using the euro and issue their own currency, it will i.....
At least they gave us Tzatziki before imploding
Hope they find a George Bailey...the run on the banks has started
Greek depositors withdrew 700 million euros ($898) from local banks Monday, the country's president said, as he warned that the situation facing Greece's lenders was very difficult.
Since the president of Greece made this announcement Wall Street dropped 75 points
I guess someone should have been asked to start printing drachma. We'll see if they even got that done.
“Close tax loopholes that allow some of the truly wealthy to avoid paying their fair share,” Reagan vowed.
1. Get everyone dependent on government handouts, which will...
2. Bankrupt the country.
3. Inform citizens that to continue to receive the government handouts on which they have become dependent, a bold new form of government is required, called...
Greece is on step 3.
America is still working on step 2.
Haha. That's hilarious.
It won't be funny when Greece become the next Cuba.
Mass human suffering rarely is.
The Communists are out in full force...
According to many posters on this board the US is now Cuba. I've given up how many countries are in the communist column.
I don't know how you can dispute this, . . . . and think it's funny
Because it isn't true and it's absurd?
pssst, don't look now, . . . . . . . . . . and I really hate to be the one to break it to you but, . . . have a look at the link
Now, I don't know where you took math, but it looks pretty bad.
And if you don't think this means we are bankrupt, please let me know how many $T it takes to get into your bankrupt classification, cuz, if you watch the upper left corner there, it will be there shortly.
US National Debt Clock : Real Time U.S. National Debt Clock
And in case you didn't notice, it says there is a $50k debt per citizen with a $138k debt for each taxpayer. Please relay to all here how each taxpayer is going to pay off that amount.
I was curious about the "new math" maybe this will be my chance to see it.
Even more staggering is the unfunded liability that the country has...over $100T!!!!!
You know that Greece can't control its own interest rates and that the US has both the reserve currency and can print as much money as it wants, right?
And what is YOUR magic number before you think we are bankrupt.
Print money, ..... yeah, that's the answer. This is what happens when you print money.
Need some coffee there to wake you up ?
Oh for goodness sake.
Hey, you said "print money" in fact to quote you, you wrote "and can print as much money as it wants, right?".
I just showed you an example of what happens when your advise is followed.
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