Greece bailouts : 136% of GDP

reply to post by stirling


Hey Max Keiser could not have put it better

reply to post by Vitchilo

Thanks for clarifying. I suppose I should have known it wouldn't last long but I was trying to be hopeful. You are indeed correct when you state it's not just Greece but I think many would rather bury their head in the sand. Here in Holland they are still trying to uphold the illusion that things are bad, but not that bad. As long as people here can have their holidays and their shiny cars, nobody really gives a damn. No one wants to wake up from their oh so comfortable false dream. I guess the Queen here likes here royal income from Shell, tulip sales and all the rest, while still protesting that she doesn't have "that much money". The ostrich effect is in full swing still. Sad but true.

Thanks.

reply to post by Vitchilo

Originally posted by Vitchilo
[...] Same thing going in America, Japan, UK, France... even Germany... all their banks are over-leveraged and when they blow, they bring down the whole country down with them.

Now remember where we were before the global financial crisis was triggered and before the EZ started to show the first cracks...

Germanys debt ratio was decreasing... our Debt-to-GDP ratio was imroving so fast that we would have had a fully consolidated budget by the end of 2015, despite the process of reintegrating former east Germany!

reply to post by LightSpeedDriver


I would think possibly weeks if not days

reply to post by JustXeno


be thankful you are not an economist, they are some of the dumbest, most brainwashed people ever. The majority can't explain fiat currency.

As to whether those countries are doing well after quitting certain aspects of the IMF, well they were in many ways isolated. The Greek mess was created, on purpose - the Euro was designed to fail, and the problem is the entire world is attached.

So a more apt comparison of what will happen if the "default" is achieved is Zimbabwe. Lots of folks love the idea of "let the banks fail" but very few of them have the stomach that will take weeks of little food. The system as it is, half the world suffers a lot, if the defaults happen - all the world suffers a whole lot more. Tough spot where are in.