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CA renter.
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June 8, 2011 at 6:37 AM #702791June 8, 2011 at 6:50 AM #701593
Arraya
Participant[quote=eyePod]Cogno wrote “Greece, Please Do The Right Thing: Default Now”
The reason was because Greece’s ability to borrow and sustain itself was doubtful.[/quote]
Right and I doubt another loan mod will help. Why did they have such a hard time determining this with the first bailout. Surely they can’t be that stupid. Now, they are just playing a game of Jenga with the finances of the world. Take from the bottom and put it on top, until it collapses.
[quote=eyePod]
Please give us your analysis of the effect on Greece of a complete default.[/quote]Hopefully, if we are lucky, cascading bank failures will ensure as well as a derivatives failure. This will teach the financial engineers a lesson about creating such an unstable, collapse-prone system. It should also teach the populations how incompetent and reckless they are.
June 8, 2011 at 6:50 AM #701693Participant[quote=eyePod]Cogno wrote “Greece, Please Do The Right Thing: Default Now”
The reason was because Greece’s ability to borrow and sustain itself was doubtful.[/quote]
Right and I doubt another loan mod will help. Why did they have such a hard time determining this with the first bailout. Surely they can’t be that stupid. Now, they are just playing a game of Jenga with the finances of the world. Take from the bottom and put it on top, until it collapses.
[quote=eyePod]
Please give us your analysis of the effect on Greece of a complete default.[/quote]Hopefully, if we are lucky, cascading bank failures will ensure as well as a derivatives failure. This will teach the financial engineers a lesson about creating such an unstable, collapse-prone system. It should also teach the populations how incompetent and reckless they are.
June 8, 2011 at 6:50 AM #702286Participant[quote=eyePod]Cogno wrote “Greece, Please Do The Right Thing: Default Now”
The reason was because Greece’s ability to borrow and sustain itself was doubtful.[/quote]
Right and I doubt another loan mod will help. Why did they have such a hard time determining this with the first bailout. Surely they can’t be that stupid. Now, they are just playing a game of Jenga with the finances of the world. Take from the bottom and put it on top, until it collapses.
[quote=eyePod]
Please give us your analysis of the effect on Greece of a complete default.[/quote]Hopefully, if we are lucky, cascading bank failures will ensure as well as a derivatives failure. This will teach the financial engineers a lesson about creating such an unstable, collapse-prone system. It should also teach the populations how incompetent and reckless they are.
June 8, 2011 at 6:50 AM #702435Participant[quote=eyePod]Cogno wrote “Greece, Please Do The Right Thing: Default Now”
The reason was because Greece’s ability to borrow and sustain itself was doubtful.[/quote]
Right and I doubt another loan mod will help. Why did they have such a hard time determining this with the first bailout. Surely they can’t be that stupid. Now, they are just playing a game of Jenga with the finances of the world. Take from the bottom and put it on top, until it collapses.
[quote=eyePod]
Please give us your analysis of the effect on Greece of a complete default.[/quote]Hopefully, if we are lucky, cascading bank failures will ensure as well as a derivatives failure. This will teach the financial engineers a lesson about creating such an unstable, collapse-prone system. It should also teach the populations how incompetent and reckless they are.
June 8, 2011 at 6:50 AM #702796Participant[quote=eyePod]Cogno wrote “Greece, Please Do The Right Thing: Default Now”
The reason was because Greece’s ability to borrow and sustain itself was doubtful.[/quote]
Right and I doubt another loan mod will help. Why did they have such a hard time determining this with the first bailout. Surely they can’t be that stupid. Now, they are just playing a game of Jenga with the finances of the world. Take from the bottom and put it on top, until it collapses.
[quote=eyePod]
Please give us your analysis of the effect on Greece of a complete default.[/quote]Hopefully, if we are lucky, cascading bank failures will ensure as well as a derivatives failure. This will teach the financial engineers a lesson about creating such an unstable, collapse-prone system. It should also teach the populations how incompetent and reckless they are.
June 9, 2011 at 12:08 AM #701938CA renter
Participant[quote=meadandale][quote=CA renter]
I agree that Greece needs to default (as do all the FBs in the U.S.).[/quote]So, if you advocate Greece defaulting what is your position on the US raising our debt limit? Everyone says that the sky will fall if we default on our debt obligations. Shouldn’t we just default as well rather than trying to climb out of this massive hole?
If it’s good for Greece…isn’t it good for us?[/quote]
Some would argue that it would be our best course, especially if most of our debt is held externally.
Of course, by debasing our currency, we are effectively defaulting, IMHO.
June 9, 2011 at 12:08 AM #702036Participant[quote=meadandale][quote=CA renter]
I agree that Greece needs to default (as do all the FBs in the U.S.).[/quote]So, if you advocate Greece defaulting what is your position on the US raising our debt limit? Everyone says that the sky will fall if we default on our debt obligations. Shouldn’t we just default as well rather than trying to climb out of this massive hole?
If it’s good for Greece…isn’t it good for us?[/quote]
Some would argue that it would be our best course, especially if most of our debt is held externally.
Of course, by debasing our currency, we are effectively defaulting, IMHO.
June 9, 2011 at 12:08 AM #702627Participant[quote=meadandale][quote=CA renter]
I agree that Greece needs to default (as do all the FBs in the U.S.).[/quote]So, if you advocate Greece defaulting what is your position on the US raising our debt limit? Everyone says that the sky will fall if we default on our debt obligations. Shouldn’t we just default as well rather than trying to climb out of this massive hole?
If it’s good for Greece…isn’t it good for us?[/quote]
Some would argue that it would be our best course, especially if most of our debt is held externally.
Of course, by debasing our currency, we are effectively defaulting, IMHO.
June 9, 2011 at 12:08 AM #702777Participant[quote=meadandale][quote=CA renter]
I agree that Greece needs to default (as do all the FBs in the U.S.).[/quote]So, if you advocate Greece defaulting what is your position on the US raising our debt limit? Everyone says that the sky will fall if we default on our debt obligations. Shouldn’t we just default as well rather than trying to climb out of this massive hole?
If it’s good for Greece…isn’t it good for us?[/quote]
Some would argue that it would be our best course, especially if most of our debt is held externally.
Of course, by debasing our currency, we are effectively defaulting, IMHO.
June 9, 2011 at 12:08 AM #703137Participant[quote=meadandale][quote=CA renter]
I agree that Greece needs to default (as do all the FBs in the U.S.).[/quote]So, if you advocate Greece defaulting what is your position on the US raising our debt limit? Everyone says that the sky will fall if we default on our debt obligations. Shouldn’t we just default as well rather than trying to climb out of this massive hole?
If it’s good for Greece…isn’t it good for us?[/quote]
Some would argue that it would be our best course, especially if most of our debt is held externally.
Of course, by debasing our currency, we are effectively defaulting, IMHO.
June 9, 2011 at 3:21 PM #702134eyePod
ParticipantCognitive wrote “Hopefully, if we are lucky, cascading bank failures ”
You’re still stuck on “banks”. We are talking about the EU and IMF. Should those fail? European central banks?
“Teach” the populations how incompetent they are? Yeah, people will be glad to have their wealth taken from them. Have you been following the demonstrations in Greece? The failure of the government in Portugal? That would be nothing.
June 9, 2011 at 3:21 PM #702232ParticipantCognitive wrote “Hopefully, if we are lucky, cascading bank failures ”
You’re still stuck on “banks”. We are talking about the EU and IMF. Should those fail? European central banks?
“Teach” the populations how incompetent they are? Yeah, people will be glad to have their wealth taken from them. Have you been following the demonstrations in Greece? The failure of the government in Portugal? That would be nothing.
June 9, 2011 at 3:21 PM #702823ParticipantCognitive wrote “Hopefully, if we are lucky, cascading bank failures ”
You’re still stuck on “banks”. We are talking about the EU and IMF. Should those fail? European central banks?
“Teach” the populations how incompetent they are? Yeah, people will be glad to have their wealth taken from them. Have you been following the demonstrations in Greece? The failure of the government in Portugal? That would be nothing.
June 9, 2011 at 3:21 PM #702972ParticipantCognitive wrote “Hopefully, if we are lucky, cascading bank failures ”
You’re still stuck on “banks”. We are talking about the EU and IMF. Should those fail? European central banks?
“Teach” the populations how incompetent they are? Yeah, people will be glad to have their wealth taken from them. Have you been following the demonstrations in Greece? The failure of the government in Portugal? That would be nothing.
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