Comments on: Eurozone Action on Greece Fails to Defuse the Ticking Global "Debt Bomb" http://moneymorning.com/2010/02/12/debt-bomb-4/ Global Investment News Fri, 25 May 2012 18:42:41 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: blue monkey http://moneymorning.com/2010/02/12/debt-bomb-4/comment-page-1/#comment-19596 blue monkey Mon, 10 May 2010 23:04:38 +0000 http://moneymorning.com/?p=17022#comment-19596 Greece and Spain won't pay back. This was a calculated Risk, and a Lesson for the Banking System. The only thing Germans can do is: REPOSSESS 170 Leopard 2AEX Battle Tanks from Greece, and 190 Leopard 2A6E Battle Tanks from Spain. U.S.A must REPOSSESS 170 F-16 Jet Fighters from Greece, … the rest is gone with the wind …forever … Greece must stop paying lucrative pensions with borrowed money, reform the free health care system, and cut down, 4 times the military budged. Greece’s problem is too much debt. Greece has a budget deficit of 12.7% of GDP – meaning that the country is spending 12.7% more than the value of one year’s economic output. Greece is no different to a serial credit card borrower who can’t pay back his loans. But just like a serial credit card borrower, as long as Greece keeps relying on borrowed money to fund itself, the problem won’t go away. It will just get worse. http://www.defenseindustrydaily.com/Greece-in-Default-on-U-214-Submarine-Order-05801/ Don't worry; the ECB, the Fed or both will print the money. And all of us will share the pain, with our hard-earned money. Bad is never good until worse happens. Greece and Spain won't pay back. This was a calculated Risk, and a Lesson for the Banking System. The only thing Germans can do is:
REPOSSESS 170 Leopard 2AEX Battle Tanks from Greece, and 190 Leopard 2A6E Battle Tanks from Spain.
U.S.A must REPOSSESS 170 F-16 Jet Fighters from Greece, … the rest is gone with the wind …forever …
Greece must stop paying lucrative pensions with borrowed money, reform the free health care system, and cut down, 4 times the military budged.
Greece’s problem is too much debt. Greece has a budget deficit of 12.7% of GDP – meaning that the country is spending 12.7% more than the value of one year’s economic output.
Greece is no different to a serial credit card borrower who can’t pay back his loans. But just like a serial credit card borrower, as long as Greece keeps relying on borrowed money to fund itself, the problem won’t go away. It will just get worse.
http://www.defenseindustrydaily.com/Greece-in-Default-on-U-214-Submarine-Order-05801/
Don't worry; the ECB, the Fed or both will print the money.
And all of us will share the pain, with our hard-earned money.
Bad is never good until worse happens.

]]> By: George http://moneymorning.com/2010/02/12/debt-bomb-4/comment-page-1/#comment-13506 George Sun, 14 Feb 2010 19:38:09 +0000 http://moneymorning.com/?p=17022#comment-13506 The preponderance of humans on this planet have leapt at the opportunity to borrow what they could not repay. Lowbrow bankers deluded themselves that a bundle of loans that could not be repaid had a lower risk of default than the individual certainties of default. Moreover the bankers were so confident in the new low risk model for bundles of loans that they leveraged up to 60:1 rather than the proven prudent 10:1. Default is assured. Collapse of the world money supply is assured. Collapse of currencies backed by the full faith and trust in the omnipotent weasel is assured. The preponderance of humans on this planet have leapt at the opportunity to borrow what they could not repay. Lowbrow bankers deluded themselves that a bundle of loans that could not be repaid had a lower risk of default than the individual certainties of default. Moreover the bankers were so confident in the new low risk model for bundles of loans that they leveraged up to 60:1 rather than the proven prudent 10:1. Default is assured. Collapse of the world money supply is assured. Collapse of currencies backed by the full faith and trust in the omnipotent weasel is assured.

]]> By: Conor Lawson http://moneymorning.com/2010/02/12/debt-bomb-4/comment-page-1/#comment-13263 Conor Lawson Sat, 13 Feb 2010 01:32:32 +0000 http://moneymorning.com/?p=17022#comment-13263 I find it very remarkable that given all the talk from financial regulators and Central banks etc about financial institutions having disaster recovery plans that the E.U had no such plan themselves. It would appear that they are just making up things as they go along. So much for setting a good example to the rest of us. Conor I find it very remarkable that given all the talk from financial regulators and Central banks etc about financial institutions having disaster recovery plans that the E.U had no such plan themselves. It would appear that they are just making up things as they go along.
So much for setting a good example to the rest of us.

Conor

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