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2010-05-06 Europe

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Posted by Fred 2010-05-06 00:00|| || Front Page|| [11127 views ] Top

#1 Another viewpoint of Greek woes: Markets view the EU-IMF package for Greece as a politically-shaped response that cannot work because it shuts off the twin cures of debt restructuring and devaluation, leaving the burden of adjustment on the Greek people. If Greeks come to view the plan as a rescue for foreign banks and funds as many already do there is no chance of carrying the nation through five years of harsh austerity.

Posted by Anguper Hupomosing9418 2010-05-06 00:21|| 2010-05-06 00:21|| Front Page Top

#2 I heard financial commentator, Stuart Varney, this morning say that what is going on in Greece can't happen in the U.S. because there is not a such a tradition here. I don't share the same view. It could happen here. The economic conditions are very similar.

Posted by JohnQC 2010-05-06 10:43|| 2010-05-06 10:43|| Front Page Top

#3 because there is not a such a tradition here. I don't share the same view. I don't share the view either. The USA has its own version of the Free Lunch Party, which essentially denies that bills-have-to-be-paid-or-else.

Posted by Anguper Hupomosing9418 2010-05-06 11:03|| 2010-05-06 11:03|| Front Page Top

#4 "Risk aversion lifted the dollar up ..."

I'd like to point out that when I made this prediction a couple weeks ago all I got was criticism.

Posted by flash91 2010-05-06 12:34|| 2010-05-06 12:34|| Front Page Top

#5 Everything our Government has done was simply painting over rotten wood. Yes it can happen here and is more likely to happen the more we operate like Europe. China is the one to watch. I call them a paper tiger. They have toxic assets (female donkeys) much worse than what we had or have. I have been concerned about our economy for some time now but it seems most people believe our government- that things are improving. So as long as the cool aid drinkers spend then things aren't so bad as they could be.

Posted by Dale 2010-05-06 15:33|| 2010-05-06 15:33|| Front Page Top

#6 I think Varney might have been referring to leftwing nuts running around firebombing banks.

The USA has a tradition of rather more robust police action, rather than fewer leftwing nuts.

Posted by phil_b 2010-05-06 18:26|| 2010-05-06 18:26|| Front Page Top

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