Haven't heard much from the U.S. bashers on this list about our financial woes. The 1 trillion to bail out Greece is only going to last one month. Then they are back in the tank. Their debit is now 120% of G.N.P.
Here's back at them http://tinyurl.com/2e8ht8q
"In some ways European banks are worse than ours. They're certainly less transparent," says our guest Chris Whalen, managing director at Institutional Risk Analytics. "It's a strange time. And I think it talks to the basic lack of competitiveness, the lack of productivity really in Europe. And you also have the same problem in the U.S. We just have the flexibility of being able to print money."
"For Europe, basically they have two options: Individual countries can continue to borrow money until they can't. Then they hit the wall," says fellow guest John Mauldin, president of Millennium Wave Advisors and author of the Thoughts from the Frontline e-letter. "Or they can willingly throw themselves into a Depression by cutting their deficits dramatically."
"I think the euro's going to parity. The pound's going to parity," Mauldin says. "And we're going to see the yen go to $100, then $125, then $150. Pretty soon we'll get a bid for $200 and $250," which will have huge implications for global trade.
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On Wed, May 19, 2010 at 8:11 AM, Nicholas Geti <ngeti@optonline.net> wrote:
> Haven't heard much from the U.S. bashers on this list about our financial woes. The 1 trillion to bail out Greece is only going to last one month. Then they are back in the tank. Their debit is now 120% of G.N.P.
>
> Here's back at them
And yet most are in denal over here
Sent from my BlackBerry
Stephen Russell wrote:
> On Wed, May 19, 2010 at 8:11 AM, Nicholas Geti <ngeti@optonline.net> wrote:
>> Haven't heard much from the U.S. bashers on this list about our financial woes. The 1 trillion to bail out Greece is only going to last one month. Then they are back in the tank. Their debit is now 120% of G.N.P.
>>
>> Here's back at them http://tinyurl.com/2e8ht8q
>>
>> "In some ways European banks are worse than ours. They're certainly less transparent," says our guest Chris Whalen, managing director at Institutional Risk Analytics. "It's a strange time. And I think it talks to the basic lack of competitiveness, the lack of productivity really in Europe. And you also have the same problem in the U.S. We just have the flexibility of being able to print money."
>>
>> "For Europe, basically they have two options: Individual countries can continue to borrow money until they can't. Then they hit the wall," says fellow guest John Mauldin, president of Millennium Wave Advisors and author of the Thoughts from the Frontline e-letter. "Or they can willingly throw themselves into a Depression by cutting their deficits dramatically."
>>
>> "I think the euro's going to parity. The pound's going to parity," Mauldin says. "And we're going to see the yen go to $100, then $125, then $150. Pretty soon we'll get a bid for $200 and $250," which will have huge implications for global trade.
> ------------------
>
> But will China adjust the yuan so you can keep buying more crap?
>
> If I had the time this summer I would totally consider a trip to
> Europe. Euro could be < USD and that is why I woudl do it now. But
> I have to get my mom's house ready for sale. :(
>
And that may be a problem for you Yanks. It seems your economy is
starting to get out of the mess it was in (big debt though, internal and
external), and it would seem Europe is in for a rough ride, not only
Greece but Spain is in some trouble now. Problem with this is that
Germany was pressing to keep Euro up (they've been buying companies
abroad and high Euro favours them) but that will be probably impossible
now, so Euro will go down. That makes Europe more competitive in the
international market and makes the USD less competitive by comparison.
Stephen's reaction might be an example, USD flowing to Europe. How will
this impact on your recovering economy I have no clue.
BTW, now that you are getting out I don't seem to hear Obama's critics
anymore (at least on economic grounds). Plus ca change, plus la meme chose.
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Some perspective : Greece represents about 2% of the euro economy.....
A+
jml
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Who is getting out
Lot of states and towns are broke
Worst is yet to come
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Virgil Bierschwale wrote:
> Who is getting out
> Lot of states and towns are broke
>
Yeah, the chinese supermarket one block from home went bankrupt. So that
*evidently* means the country is in bad economic shape.
Not certain about this, but from what I've heard your economic
indicators are good right now.
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I think maybe a trip to Greece would be good for you, Steve. LOL
--- On Wed, 5/19/10, Stephen Russell <srussell705@gmail.com> wrote:
> From: Stephen Russell <srussell705@gmail.com>
> Subject: Re: [OT] Europes Mounting Debt Crisis
> To: "ProFox Email List" <profox@leafe.com>
> Date: Wednesday, May 19, 2010, 9:41 AM
> On Wed, May 19, 2010 at 8:11 AM,
> Nicholas Geti <ngeti@optonline.net>
> wrote:
> > Haven't heard much from the U.S. bashers on this list
> about our financial woes. The 1 trillion to bail out Greece
> is only going to last one month. Then they are back in the
> tank. Their debit is now 120% of G.N.P.
> >
> > Here's back at them
The foreclosure rate is staggering.
--- On Wed, 5/19/10, Virgil Bierschwale <vbiersch@ktc.com> wrote:
> From: Virgil Bierschwale <vbiersch@ktc.com>
> Subject: Re: [OT] Europes Mounting Debt Crisis
> To: "ProFox Email List" <profox@leafe.com>
> Date: Wednesday, May 19, 2010, 10:10 AM
> Who is getting out
> Lot of states and towns are broke
>
> Worst is yet to come
> Sent from my BlackBerry
You heard what the Obama administration allowed you to hear. We have corporate profits up, compared to a dismal 2009, but there is no hiring. Corporations have decided to try their best not to hire people to increase profits
--- On Wed, 5/19/10, Ricardo Ar