It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Originally posted by applebaum
I am not an economist. I really do not have a full grasp of how this will affect the world financial stage. It seems to me that much of the world is in deep debt to one of the most communist countries on the planet. So what happens if Greece, France, Europe and even the USA go belly-up financially. Is China simply posturing for world domination both physically and financially? Seems to me that is where the power is anymore. Please educate me. I sincerely hope I am wrong.
Originally posted by zarp3333
I could not be more happy. When people stop getting their welfare, pensions, govt paychecks, etc they will go ballistic and wake up to the fact that a handful of financial institutions are behind this whole racket.
Originally posted by eagledriver
The next two weeks will tell us a lot about how this will unfold.
Note: If the fed prints money to bail out Greece, that will kill us too with high inflation and eventually anachary. We are screwed either way. Thanks to Obama for $10 trillion of waste and a polarized US! It seems he is a Chinese puppet?! Is that why he bowed to the Chinese President during his visit there?[
Originally posted by Oouthere
reply to post by SweetT
To my simple little mind it's like this.....mortgages were given to people that lived on the edge of the economic cliff, gas prices trippled and shoved them over the cliff by increasing the price of all energy and material goods....that should about sum up most of the world's economic problems.
Originally posted by Raskadawg
i see some people saying this could lead to the creation of a single global currency.
how when the single euro currency is in such dire straits, it looking like it is bound to fail sooner or later, can a single global currency work?
just looking for an explanation, im no economist
Originally posted by Aristophrenia
The terms is PIGS, not sure why you have used PIIGS.
Pigs refer specifically to Portugal, Italy, Greece and Spain which are all the mediterranean, or poor south countries, which is why France is not included. The acronym is referring to the predominance of PIG in their diets with prosciutto di parma, serano jambon, etc. These countries are considered the "South" of Europe, referring to the international relations terms for the poorer sections of the planet as the south. There has always been a strong push for a southern currency and a northern currency in the Euro to reflect the north and south (this is not just a geo graphical term).
Including Ireland or Iceland or anything in that term is nonsensical.