Achilles was simply early in his call. We are literally right around the corner. This is the "deep breath before the plunge".
Please do And bump the Friday after that, and after that. This has the beginnings of an epic thread because like TsingTao mentioned, Euro fundamentals - like America - are toast. Done for. Something tells me you lack the mental horsepower to grasp the finer points. Take Greece, for example. Greece is still running a 9% deficit to GDP. Total economic contraction from peak to trough (running), is 22%. Drug shortages are common. Bread lines are showing up. Riots are nearly an everyday thing. By election, Syriza - the anti bailout party - went from 6% > 17% > 26% of the popular vote (within 3% of the victorious anti bailout party, last sunday). Care to draw a trendline? Greece will be forced to balance their budget. That's another 14% GDP contraction, from today (9% x 1.6 fiscal multiplier). Care to do the math on that? Economically, and socially? Spains fundamentals are similar. Italy fairs marginally better, but look at their sovereign paper. Another 750 Billion euros was pledged last week to buy their debt on the secondary market to get yields down. Know how much Italy is paying on debt interest? 5% of GDP. No, not 5% of their budget. 5% OF GDP. How does this bailout (#4, or is it #8...? hard to tell, these dayz) solve the problem? Where is the money coming from? Monetization or taxation (or are they both the same?)? How will this sit with the voting German public, who are already irate at the specter of bailing out even more of their bankrupt cousins? Maybe you can enlighten us, OldTimer, since you're so knowledgeable on the subject?
dumb lazy <del>fucks</del>..they still don't get it..it is the FARMERS,who DONATE the food,not the <del>fucking</del> government. and your government did give you free money for a very long time..that's why you in the deep shit today. maybe you should grab your fat <del>ass</del> and start working for those farmers or became one, like my man roggers suggest americans some time ago..i think old man is right after all. US will be in same <del>shit</del> and everyone will be on his own. time to grab some land,before it's too late..
oh shit man, sorry, wrong again, I guess I did bump you yesterday, that seemed like a week ago let me know when the "panic" starts I'm short CHF in my forex account, but I'm probably about 15% invested in Europe in my conservative account.
Roubini: Two Futures for Europe; Political Union or Disintegrate <iframe width="560" height="315" src="http://www.youtube.com/embed/yVyrkB8aRhI" frameborder="0" allowfullscreen></iframe>