Greece is About to Explode

Support Austerity. Preach Austerity to the people!

http://austeritynut.com/

Greece just discovered what it's like to join an exclusive club and get hit with undisclosed membership dues.

another funny remark? pretty hilarious for all the people involved.

Seems they have a history of exploding. For such a young old country they explode a lot.

http://www.eurasiareview.com/01112011-can-greece-survive-analysis/

I was surprised to learn that Greece default in the 80's? What I find interesting is that most of the previous conservatives leadership was the one cooking the books. I think it also shows that austerity during bad times is not the right policy. The time to lay the foundation for getting debt under control is when the economy is expending..of course, then everyone comes crying that any austerity measures will hurt the economy.

The World Bank ranks Greece at 100 in terms of ease of doing business. By comparison Singapore is #1, New Zealand #3, The U.s. 4th, Yemen is ranked #99 and New Guinea @ 101

http://www.doingbusiness.org/rankings

Kind of hard to take that survey serious when it lists Saudi Arabia in the top 15. I wonder how easy it is for a Jew to do business there...

columbiacounty is about to explode.

Socialist
Kind of hard to take that survey serious when it lists Saudi Arabia in the top 15. I wonder how easy it is for a Jew to do business there...

How many Jews are there in Saudi Arabia trying to do business?

Of course Socialist doesn't like fiscal responsibility. That would contradict his preference for spending way more than you have, borrow like crazy, then stiff your creditors.

I finally agree with something Krugman wrote..
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This is the way the euro ends - not with a bang but with bunga bunga. Not long ago, European leaders were insisting that Greece could and should stay on the euro while paying its debts in full. Now, with Italy falling off a cliff, it's hard to see how the euro can survive at all.

First, if you look around the world you see that the big determining factor for interest rates isn't the level of government debt but whether a government borrows in its own currency. Japan is much more deeply in debt than Italy, but the interest rate on long-term Japanese bonds is only about 1 percent to Italy's 7 percent. Britain's fiscal prospects look worse than Spain's, but Britain can borrow at just a bit over 2 percent, while Spain is paying almost 6 percent.

What has happened, it turns out, is that by going on the euro, Spain and Italy in effect reduced themselves to the status of Third World countries that have to borrow in someone else's currency, with all the loss of flexibility that implies. In particular, since euro-area countries can't print money even in an emergency, they're subject to funding disruptions in a way that nations with their own currencies aren't - and the result is what you see right now. America, which borrows in dollars, doesn't have that problem.

http://www.chron.com/opinion/outlook/article/Euro-crisis-is-not-due-to-failure-of-welfare-2264783.php

But what is the difference between Greece and Ohio? Spain and California? they re all bankrupt (on a cash basis but more importantly a balance sheet basis).America is already a third world country with 50 million on food stamps and a tiny elite of multibillionnaires.
The euro is failing. The dollar is failing. Currency wars are in full (hidden) mode.
Protect yourselves.

Gold!

>The euro is failing. The dollar is failing.

vs what?