Do you think greece will default?

Submitted by flu on May 14, 2012 - 4:33pm
Submitted by enron_by_the_sea on May 14, 2012 - 4:38pm.

Didn't they already default?

Submitted by The-Shoveler on May 14, 2012 - 5:48pm.

Yes at some point in the future I would say 100%
75% chance sometime in the next three months (my guess),
Germany is being made to obey and accept some inflation 3-6% so maybe the euro is not completely the walking dead just yet.
At some point (maybe in the next three years ) I would say we (the U.S.A.) are going to have some moderate inflation.
My guess 5 to 8%
China is still a wild card, but it seems everyone is being made to play nice for now.
In my opinion anyway.

Submitted by jstoesz on May 14, 2012 - 11:07pm.

Enron, you took my response. Verbatim.

Submitted by no_such_reality on May 15, 2012 - 6:39am.

I think the real question is will they or won't they exit the Euro.

I hope they do. Then we, and the world, will know if the financiers are really stupid or not. Will they cut off the loans or not. Greece, will need to balance their budget and live within their means. Will they print money and spur massive inflation or will they cut and tax?

It'll be brutally tough on Greece, but the Euro has been tough on Greece. Unemployment is 20% (wait, I think California's is 20% if you stop all the funny counting), Greece youth unemployment is near 50%.

We need a test case. So far the EU is acting like mortgage banker desperate to keep you in the home. I suspect Greece is the home debtor, in a home they can never afford. They need to exit and let the bank deal with the bad loans.

Greece walking away will be a massive wake up call to the people fueling the debt engines. They'll get scared, money will get expensive. that's good.

Borrowed money is evil. Instant gratification of wants with little understanding of the long impacts.