Spain, Greece and Europe

[jimmycthemd]

Maybe the ones that are still semi-solvent should look at some of the measures Walker took in Wisconsin??? Wheather or not you agree with his methods, he took the 'projected' budget from a defecit to a surplus.

[Pop_45]

All the bailouts, all the austerity schemes, and all the hoopla, will not save the worlds economy. That is until the governments around the world learn to live within their means. I don't care how hard they try, they cannot borrow their way out of debt. I know, I tried in my younger days.

[Patriotic Sheepdog]

Check kiting: Writing one check to cover another, to cover yet another, to cover yet another, and so on...When this little financial daisy chain makes full circle there's going to be _ _ _ _ to pay and we're going to be one of the ones getting the bill!

Yep, check kiting, Ponsi scheme...call it anything one wants, but don't call it legal. The proverbial "deck of cards" will crumble.

My problem is with the uninformed, which I then inform and they think this is all okay. They just don't get it. They just don't know where all this "money" (I'm using that word loosely) is coming from. They think all of these countries have these trillions just sitting in a vault somewhere waiting to use it to bailout some poor schmuck of a country. They have their head in, uh ...., the sand.

[JUSTIFIED]

Check kiting: Writing one check to cover another, to cover yet another, to cover yet another, and so on...When this little financial daisy chain makes full circle there's going to be _ _ _ _ to pay and we're going to be one of the ones getting the bill!

[Patriotic Sheepdog]

"Give me what Spain got" is now what Ireland is telling the EU. Look for Greece to say the same thing.

Ireland wants to renegotiate its rescue plan to benefit from the same treatment as Spain, which looks set to win a bailout for its banks without any broader economic reforms in return, European sources said on Saturday.

"Ireland raised two issues: one is the need to ensure parity of the deal with Spain retroactively on its bailout from EFSF," one European government source told AFP, referring to the temporary rescue fund, the European Financial Stability Facility.

[monkeybird]

U.S. Treasury Secretary Timothy Geithner, in a statement Saturday, said the U.S. welcomed "Spain's action to recapitalize its banking system and the commitment by its European partners to provide support. These are important for the health of Spain's economy and as concrete steps on the path to financial union, which is vital to the resilience of the euro area."

http://online.wsj.com/article/SB1000...Tabs%3Darticle


I wonder where the money spent on a bailout of Greece, Portugal and Ireland came from. Where does the $125 Billion for Spain come from? I'm thinking it must be digital money based on nothing.

However, unlike Greece, Ireland and Portugal, Spain won't be asked to implement an extra austerity program beyond that it has already committed to.

So, Spain has no austerity measures required on the bailout. Then, we have France, which got rid of their austerity president in favor of a socialist one.

Most Americans aren't paying attention to it, but then no one paid attention to the time before WWII. If the European economy didn't impact on our own so profoundly, it wouldn't matter, however, it does. We're just a hairs breath from economic disaster.

[Patriotic Sheepdog]

http://market-ticker.org/akcs-www?post=207084 or http://online.wsj.com/article/SB1000...LEFTTopStories

From The Market Ticker Guy...

Of course the problem here is two-fold:

Where's the money going to come from? Presumably the IMF, ESM and EFSF. Note that there's a wee problem with the current funding capacity of these mechanisms.

How does providing these funds, assuming they can be found, actually fix the problem? Filling a capital hole with more borrowing simply makes it less likely that the economy will recover as the interest has to continue to be paid.

The only solution that can be found to too much debt is to stop borrowing more money.

[WiseOwl]

http://news.yahoo.com/spain-could-ask-bank-bailout-weekend-114910573--finance.html

Part 2 begins..................now!

[WiseOwl]

http://www.shtfplan.com/headline-news/despair-as-collapse-accelerates-my-shotgun-is-full-and-well-equipped-i-hope-i-dont-need-to-use-it_06062012

This guy Manos lives in Greece and has been updating the situation for months. Here is some interesting stuff

[WiseOwl]

I read somewhere that the power companies are about to turn off the power. Sounds like a Rowles novel huh?

[Matt In Oklahoma]

http://www.channelnewsasia.com/stori...205746/1/.html
Maybe I should act like everyone else and say I "predicted" this? LOL

Things of this nature lead to wars
This is something to watch closely and not be too trusting of other Nations. While we are battling ourselves for contol of the presidency it would be easy to miss signs of aggresion and not take proper actions. Fortunatley right now this is France, who aint gonna do nothing with their gutless selves, but could talk someone else into getting froggy. To act as though Europe or any other place didnt have a hand in the crash is crazy. World wide greed

[JUSTIFIED]

http://www.channelnewsasia.com/stori...205746/1/.html

Maybe I should act like everyone else and say I "predicted" this? LOL

It's just a matter of time before the ramfications of what's happening gloabally have a devastating effect here. Can't wait to sell our home, get to our bol and continue preparing!

[Lowdown3]

What is Amerika survives the economic mess the world is in relatively unscratched? I mean more than what is already has had.

Is the world going to love us after that? Or are they going to blame us for it? Are the Jawas/Sand People with the oil going to say that the U.S. PLANNED AND ORCHESTRATED the economic collapse?

http://www.channelnewsasia.com/stories/afp_world_business/view/1205746/1/.html

Maybe I should act like everyone else and say I "predicted" this? LOL

[Patriotic Sheepdog]

There is a reason we can't or won't balance the budget and will try to keep running deficits....

Mathematics will prevail....

[Patriotic Sheepdog]

Sometimes you can learn more from the comedians than the MSM...