Thoughts?
no.
discuss…
I wonder what we could get for California?
Thoughts?
What makes you think China would want it?
**I wonder what we could get for California? **
We’re not far away from being in that situation. It’s good to see some of my LR homies are following the news. And ‘Hat-Tip’ to Chainpin, he nailed this one dead on.
It’s always ironic to me that the American military is in 150 or so countries around the world which shows their global influence and power and yet everyone points to China as the big bad guy on the verge of world dominance.
China is not interested in taking over Greece anymore than the U.S is but they will be there to capitalize on the economic situation.
My question is why does Greece have so much power all of a sudden. You would think by the headlines that the entire world economy is dependent on what happens in Greece. It’s complete nonsense.
My question is why does Greece have so much power all of a sudden. You would think by the headlines that the entire world economy is dependent on what happens in Greece. It’s complete nonsense.
You can manipulate markets without fear … but fear sure makes it a hell of a lot easier. You seldom hear the name “Greece” anymore without accompaniment by terms like “global markets”, “domino effect”, “economic collapse”, “demise of the EU”, etc. Makes you want to follow the money trail and see who will benefit the most from a suddently-buoyed Greek economy. I doubt that it’s the Greek people, themselves.
I think the Euro market would be far better off without Greece so get rid of them, let them build their economy back up as a condition to re-entry and be done with it.
The world would not end and all the European countries would be better off. Greece should pay the price for years of government handouts
Yes, you are right, I’d like to see who is really behind all this scare mongering.
My question is why does Greece have so much power all of a sudden. You would think by the headlines that the entire world economy is dependent on what happens in Greece. It’s complete nonsense.
The word “Greece” no longer refers to a single country. It has become a metaphor for what’s happening in much of Europe, for the soft underbelly of socialism, for the whole chain of swaying dominos–Greece, Italy, Spain, etc.
I think China’s economic prowess is overestimated, though. Interesting column today on that very subject by Jonah Goldberg.
The way I understand it, if Greece defaults on its bond payments, a lot of banks in Europe could be in trouble, especially some fairly large French banks. Default by Greece could also cause a rise in the interest rate for other European countries on the brink, such as Italy and Portugal, and push them towards default as well. I don’t think it’s too far of a stretch that a Greek default could trigger a European version of what we went through in 2008, perhaps worse. I don’t think it’s scare mongering, I think it’s markets reacting to what could be a very bad situation.
Spot
It’s always ironic to me that the American military is in 150 or so countries around the world which shows their global influence and power and yet everyone points to China as the big bad guy on the verge of world dominance.
China is not interested in taking over Greece anymore than the U.S is but they will be there to capitalize on the economic situation.
My question is why does Greece have so much power all of a sudden. You would think by the headlines that the entire world economy is dependent on what happens in Greece. It’s complete nonsense.
Sorry, but it is not nonsense.
If you understand the linkages between the solvency of French banks that are the biggest holders of greek debt, and the overall stability of the EU monetary system, then you will understand why the EU, ECB, and IMF have want desparately to keep Greece from defaulting.
The incestous banking system can’t handle a haircut on Greek bonds, because the CDS instruments that would kick in coudn’t and wouldn’t be paid, as counterparty after counterparty failed.
That is why Jefferies was down -20% today, they have too much sovereign debt expsoure relative to assets.
Ticker JEF.
See, the entire thing is a sham, a fraud, ten times worse than Madoff, and it won’t survive–the global fiat monetary system that is.
Mark my words.
Doubtful.
I do kind of like the China Boogeyman though. Might inspire us to actually do something grand in the energy and space sectors again. We’ve been languishing on those since the cold war.
China has already bought up quite a few Greek ports. I guess that is just their beach head.