Privacy guaranteed - Your email is not shared with anyone.

Bloomberg: After Spain, Italy next most likely to default

Discussion in 'The Okie Corral' started by Atlas, Jun 11, 2012.

  1. Atlas

    Atlas transmogrifier

    Oct 1, 2001
    north of the equator
  2. cowboy1964


    Sep 4, 2009
    There is no stopping this runaway train.

  3. HollowHead

    HollowHead Firm member

    May 16, 2005
    Where the buffalo roam
    Italy wouldn't be in this mess if their motorcycles were better. HH
    Last edited: Jun 12, 2012
  4. tongix


    Oct 10, 2009
    By the word of Legarde of IMF all is going well after the Spain bailout. Sure it isnt , hmmmm.
  5. Dennis in MA

    Dennis in MA Get off my lawn

    Aug 16, 2001
    Taunton, MA
    And their women more attractive.

    Seriously - many many years ago, I spent a Christmastime in Rome. I had never seen so few attractive women in all my life. Where were the Sophia Loren's????

    And how is this "new"s? This should be "old"s.

    In related news, it seems to take money to make money most of the time. My stopped clock is right twice daily. And brown cows do not give chocolate milk. More at 11.
  6. Haldor

    Haldor Formerly retired EE. Back to being a wage slave.

    Oct 22, 2006
    Central Arizona
    As soon as Germany runs out of money the train will stop and all passengers will exit the Euro train.

    Why the Germans can't see this is beyond me. Break up now or break up later in the year. The only difference will be how much money has been stolen from the German people in the mean time.

    Staying out of the Euro zone is the smartest thing the UK did since the end of WWII.
    Last edited: Jun 13, 2012
  7. 220-9er


    Sep 4, 2002
    North of Atl
    Germany has deficit spending too (although a trade surplus) so the truth is that they are all out of money. The US helps the bailouts too and we are out of money.
    No politician wants to be at the helm when the big boom hits so that's why they keep up this charade, trying to delay it until someone else is in charge.
    The real problem no one wants to deal with is that you can't spend more than you make forever.
  8. Z71bill


    Feb 19, 2007
    The Spanish bank bailout is about 100 billion Euros or $125 billion.

    Just by coincidence the BUDGET DEFICIT of the USA for the month of May is also $125 billion.

    Which should we be more worried about?

    Europe or our own mess?

    I sure hope the FED solves all our problems with another round of QE. :upeyes:

    Or Obama gets his way so we can borrow even more and give it to the states so they can give it to the public unions. That will "jump" start the economy and guarantee prosperity for all. :upeyes:
    Last edited: Jun 13, 2012
  9. Dennis in MA

    Dennis in MA Get off my lawn

    Aug 16, 2001
    Taunton, MA
    YEah, the poor germans are becoming bankrupt losing money they stole in the first pla. . . wait.

    You do realize that a lot of the last decade of German success story is b/c they strip-mined the other countries that are in crisis now, right?

    When you DON'T have currency parity, a worker in Greece, as seen from outside, is cheaper and cheaper to pay every year b/c the Drachma devalues. German workers are more and more expensive. Once you get currency parity, you are paying the same for German and Greek workers. Which one do you want building your stuff?

    I'm surprised that olives, feta and Ouzo isn't all made in Germany now, too.

    Germany strip-mined Europe in the last decade. It's in their blood. Their genes. Their DNA. Just like the Greeks don't like to work, Germans like to conquer. I don't think it was a conscious decision to do this, but they are good at this.

    So if it costs them a few billion Euro's to have to bail out countries they have benefited from, eh. Go ahead. Tough crap. Don't do the crime of you can't do the time.

    BTW - completely agree on England and Iceland. Iceland was HORRID 4 years ago. They are making one of the biggest economic comebacks in the world right now - because they have their own currency.
    Last edited: Jun 13, 2012
  10. It is incredible to realize that we are watching the historical and unprecedented destruction of European civilization as we have known it since WWII. Debt can never be cured with more debt (listen up Bernacke!). These stop gap bailouts are simply throwing good money after bad. It is akin to a drowning man desperately grasping at those around him and drowning them too.
  11. Atlas

    Atlas transmogrifier

    Oct 1, 2001
    north of the equator
    Dennis, what the 'ell man?
    "Strip-mined" ??? Please elaborate. :dunno:
  12. Atlas

    Atlas transmogrifier

    Oct 1, 2001
    north of the equator
    Of course they intended to conquer... All's fair in love and war and for the Germans, business is war. They fight to win, no question about it.
    What should they do?

    I have my own issues with Germans in general, every time I work with them I swear I won't do it again..
    Still, they understand quality and nothing else. That is what's in their DNA.
    Many people think of German products and think cars, being aware of little else produced in Deutschland...

    If they produced only industrial products, no cars or consumer products at all, what happens in that tiny nation each and every day would still be one of the most amazing phenomena in all of human history. It's astounding how much stuff they crank out.
    Last edited: Jun 13, 2012