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The yield on Greek 10-year bonds rose to nearly 7.6% Thursday, a fresh record high, increasing chances that Greece may need a bailout as concerns about Greek banks and the nation's solvency mount.
Note that Greece's deficit this year as a percentage of GDP is about equal to ours in the United States.
Note also that our Ten Year is trading 3.84% this morning.
If it blows wide as Greece's did, it's too late.
I know I'm sounding like a broken record on this, but......
Washington, listen up - our debt ratios may look "better", but only barely and only because you're holding a bunch of stuff off-balance sheet (that is, you're lying.)
Greece was lying too - to the EU, to themselves, to investors.
When they got outed, this was the result.
How long before someone bangs the drum on America?
Originally posted by TheCoffinman
So it begins... a prediction: the great depression II followed by a world war III.