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Originally posted by Vitchilo
reply to post by Shenon
Well this week-end shall be fun in Greece.
Probably a few fires and bombs going off.
Maybe even assassination attempts against members of government.
It's about to get feral.
And the funniest thing about this... it's just to meet this month's obligations. Not to save Greece from default.
And the even funnier thing about this... it's coming HERE too. In North America and Europe. No pensions. No nothing.
An entitled people with nothing.
Entitled people that just got robbed will go feral it won't be long.
Bank Downgrades Jump The Atlantic: S&P Cuts Italian Intesa Sanpaolo, Mediobanca From A+ To A
Bye bye Italy.edit on 21-9-2011 by Vitchilo because: (no reason given)
The Committee intends to purchase, by the end of June 2012, $400 billion of Treasury securities with remaining maturities of 6 years to 30 years and to sell an equal amount of Treasury securities with remaining maturities of 3 years or less.
Political instability and rebellion have stretched across the Mediterranean’s North African coastline and up to Syria, but why should they stop there? Why should they not stretch to Greece, for example?
It’s worth remembering that Greek generals staged a coup in 1967 and then ran the country as a junta. Democracy wasn’t restored until 1975. That’s not such a long time ago.
When bureaucrats don’t get paid, they down tools and go on strike. But what happens when the money stops flowing to the army?
In June a report from the CIA concluded that a military coup was possible in Greece. This was picked up business blog Business Insider, for instance.['ex]
Even the US is watching very closely to what may happen in the Greece.
The Office for National Statistics’ report that the U.K. public sector borrowed more last month than in any August on record is clearly bad news for the government–but it isn’t the whole story.
While record borrowing fits uneasily with Chancellor of the Exchequer George Osborne’s message that the government is taking action to cut the deficit, the figures are still–just about–on his side.
August’s dreadful figure was partly a quirk, a result of government spending delayed from July. And more importantly, the ONS made large downward revisions to borrowing in the first four months of this fiscal year, and in 2010/11 as a whole–meaning his targets just got easier to meet.
Many aren’t drinking the Fed’s Cool-Aid. Jeff Macke, of Breakout and Yahoo! Finance, notes that financial realities in today’s market make the Twist’s success unlikely. Macke writes that Operation Twist solves a problem we don’t have.” In other words, rates are already plenty low. Macke goes on to state how corporations have plenty of cash to invest (thanks 2008-9 de-leveraging), and how Treasuries already cost investors money vs. inflation. For Macke, and many like-minded investors, the issue is simply jobs. The rate jockeying will not create jobs if inflation and corporate balance sheets are already under control.
how can you loan also with the high unemployment we got, more credit cards?