Greece>>>>

[ssd]

Protests turn violent in Greece today as mobs of people protest the austerity measures that will be imposed to secure a 2nd bailout.

Probably won't be much coverage on US news but this is one of the reasons for the stock sell off today.

IMHO, this is act I of the great world debt cycle drama that is playing out. The USA will appear as a hero throughout the play only to fall victim to the same in the final act.

 

[Duff Miver]

Protests turn violent in Greece today as mobs of people protest the austerity measures that will be imposed to secure a 2nd bailout.

Probably won't be much coverage on US news but this is one of the reasons for the stock sell off today.

IMHO, this is act I of the great world debt cycle drama that is playing out. The USA will appear as a hero throughout the play only to fall victim to the same in the final act.

What are you, Lumi's twin brother?

 

[ssd]

Nope, just a realist.

Anyone who thinks this will all end well is either ignorant of the situation or a fool.

Greece would be better off saying FU to the EU, defaulting, printing drachmas and suffering through a few years of a horrible economy than selling off all state assets just to secure a $150B loan that once that is gone, what will they have to secure another one?

They have essentially maxed out all their credit cards and now are applying for a new loan so that they can pay the minimum monthly amount due on the credit cards - not even touching the existing balances. It is insanity.