Our Pending Doom

[greg334]

I know many seem to be concerned about our debt and how China holds a lot of the debt but I was listening to a good conversation this morning on one of them economic webcasts, this one was about the EU and Greece.

The problem seems that if Greece falls, then the EU may falter and if they falter, the Euro may tank and the delicate balance that kept the Euro propped up may all come down and the EU may end up becoming like the Soviet Union - too much in debt with no assets. Because we are tied to the EU through trade, it will effect our markets and we may be in serious trouble because of our own debt load.

China may not lend the EU money which may be the only two sources of capital around.

 

[layoutshooter]

This is the kind of thing that can lead to war. Socialism and socialist have been "shifting others money" around for years. Sooner or later that kind of stupidity catches up with everyone. You cannot keep robbing Peter to pay Paul. Paul is rapidly running out of money. Things could become very bad very quickly.

 

[OntarioVanMan]

This is the kind of thing that can lead to war. Socialism and socialist have been "shifting others money" around for years. Sooner or later that kind of stupidity catches up with everyone. You cannot keep robbing Peter to pay Paul. Paul is rapidly running out of money. Things could become very bad very quickly.

That is the problem..we should have never taken Chinese money...they'll take us over and not fire a shot...just sign the mortgage over to them....sad...

 

[greg334]

OVM,
It doesn't work that way. It is all about treaties and bank transfers and so on. The treasuries are backed by good faith, nothing more and they can't come over here and foreclose or repo anything.

What they can do is to refuse to extend it out on the due date, which means they can either take what we give them and no longer will they buy another treasury or demand higher interest. It isn't like the stock market, there is actually a little negotiation going on.

 

[layoutshooter]

Europe does not react too well to things like this. The "sheeple" over there are so "programed" to their "freebies" that they are unable to cope without them. There have already been riots in Greece, a long time socialist country, there are reports of a few deaths as well. When Peter is unable to pay Paul, that time is near, Paul will strike out. The time draws near.

Just a little "touch" of the Greek history with socialism/communism and the Cold War.


"Only a handful of Americans have ever heard of Lt. Col. Seldon R. Edner, or attached much significance to his death, " Richard K. Kolb writes in his book, Cold War Clashes: Confronting Communism, 1945-1991.

Edner's Air Force AT-6 plane was shot down by guerrillas during the Greek Civil War in 1949. His misfortune was surviving the crash. Kolb writes: "He was lynched, stripped, garroted, scalped, his head crushed and body mangled."


Greek communists at their finest.

Expect more of this from Greece and Europe in general as their "gravy train" dries up.

 

[davekc]

Wonder if the goofballs in charge are learning anything by watching our current stock market and what is going on in Greece and Europe with their overspending and total lack of discipline to do anything.

 

[layoutshooter]

Wonder if the goofballs in charge are learning anything by watching our current stock market and what is going on in Greece and Europe with their overspending and total lack of discipline to do anything.

SURE they are!!!

One of the reasons Greece, as well as many other countries, are in trouble is that WE are in trouble. Peter has run out of money.

We have been supporting a large portion of the world off of the hard work and sweat of our taxpayers for far too long. The transfer of wealth river is drying up. It is been for a very long time.

 

[davekc]

Interesting article from Fox news. Obama's own Secretary of Treasury says this is a bad deal.
White House Supports Greek Bailout Row 2, Seat 4

I bet they are doing it quietly. Sure....I am all for helping and supporting the Greeks so they can retire with 80 percent of their pay at age 53.

 

[layoutshooter]

Interesting article from Fox news. Obama's own Secretary of Treasury says this is a bad deal.
White House Supports Greek Bailout Row 2, Seat 4

I bet they are doing it quietly. Sure....I am all for helping and supporting the Greeks so they can retire with 80 percent of their pay at age 53.

WOW!! Is that all they get? Man, I am going to get 110% starting next week!!

Let's see, 110% of $38.50 per week, mmmmmmmmmmmmm, prosperity!!!!

 

[OntarioVanMan]

SURE they are!!!

One of the reasons Greece, as well as many other countries, are in trouble is that WE are in trouble. Peter has run out of money.

We have been supporting a large portion of the world off of the hard work and sweat of our taxpayers for far too long. The transfer of wealth river is drying up. It is been for a very long time.

Oh Lord here we go America saves the world bull....that is the one thing that irks me down here...an over bloated sense of goody two shoe syndrome....

My goodness...what did Greece do long before there was an America? Answer....much better!!!

 

[greg334]

Layout, we didn't cause the EU's problems. We are blamed because they, the countries who made bad investments need to blame someone but the fact is there is a lot more of their problems going on because of the policies they have used for the past century is finally causing them to implode.

Greece is the key to their problems right now and we should be concern because if Spain or France gets caught up in the BS, it will have a bad effect on us through the markets.

Already the confusion in the UK elections have caused some of the markets to push down a bit, some here blame Greece but it isn't so.

Right now there is a big shift in the UK government, the Conservatives have taken control of Parliament and it looks like there may be a hung Parliament. The PM results is still up in the air ... I think. The Queen will make her decision around the 25th.

Even though our system isn't perfect, it is clearcut and simple. We don't reform our government, and it goes on without interruptions.

 

[OntarioVanMan]

Layout, we didn't cause the EU's problems. We are blamed because they, the countries who made bad investments need to blame someone but the fact is there is a lot more of their problems going on because of the policies they have used for the past century is finally causing them to implode.

Greece is the key to their problems right now and we should be concern because if Spain or France gets caught up in the BS, it will have a bad effect on us through the markets.

Already the confusion in the UK elections have caused some of the markets to push down a bit, some here blame Greece but it isn't so.

Right now there is a big shift in the UK government, the Conservatives have taken control of Parliament and it looks like there may be a hung Parliament. The PM results is still up in the air ... I think. The Queen will make her decision around the 25th.

Even though our system isn't perfect, it is clearcut and simple. We don't reform our government, and it goes on without interruptions.

Greg..Huh UK elections are all but over....Cameron won...with a 'Minority Government" what they are squawking about is he did not get the Majority...there is no Queen decision...

Queen Elizabeth II, as head of state, will ultimately have the job of inviting someone to become the new prime minister - but she plays no role in deciding who that will be.

Same way in Canada except the Govenor General does the welcoming to power...

 

[layoutshooter]

Oh Lord here we go America saves the world bull....that is the one thing that irks me down here...an over bloated sense of goody two shoe syndrome....

My goodness...what did Greece do long before there was an America? Answer....much better!!!

Greece did FINE until they embraced communism.

Do you understand just how much of our hard earned tax dollars are being sent overseas? This not a goody two shoe syndrome. I am all for letting ALL socialist countries fall. Either THEY pay for their freebies or don't get them. Why should WE pay for Greeks to retire like they do?

By the way, when was the last time Greece did BETTER without us? Under Nazi Germany? Before that? Before or after the birth of Christ?

No more handouts for any country. Don't hand me that silly line OVM, you know what I meant. You know better.

 

[OntarioVanMan]

No more hand outs? Great..then there will no more favours owed....no more of our bases on foreign soil because they OWE us..or because they think they van get something from us...

so there.....

 

[layoutshooter]

If you want isolationism you will eventually be backed into your own little corner.

What is your answer? Do a Nevil Chamberlain? Hide our heads in the sand like we did in 1935? You cannot knock the status quo unless you think you have a better way. I am open to suggestions. I would LOVE to not have to worry about the lives of my son, my nephew and his wife. Their lives are on the line. It is on my mind every day.

If we back out of everything and every place it will get worse. What we are doing is only sort of working. As we do less things get worse both overseas and here.

Again, how would YOU handle the problems we face?

Just complaining does little good.

 

[greg334]

Regardless it is confusing, I caught the news this morning when they were complaining about the markets here being affected by the slump in the UK trades. But nevertheless, there is a compromise in their government, and I am glad it isn't mine.

As for Greece, there is more to it.

 

[layoutshooter]

Many of the grand European socialist countries are in deep trouble, including England. This mess in Greece could very well cascade all over the world. As I stated before, this is the stuff that starts World Wars.