No, you are confused. Do you think anyone held a gun to US consumers to get homes they could not afford? They did though, didn't they? So what is your point? Are you denying the fact that this happened? So if you have any constructive counterarguments you are welcome to contribute. Silly responses are just ignored.
Good point but they managed to increase the size of the Union from 16 to 27 countries right before the crisis. This means they have many more countries to milk before they face a crisis themselves. The way they milk wealth is interesting. They buy utilities in those countries that have high debt, mainly telecoms and electicity production. They also buy airports and land. It is outrageous that a German politician asked the Greek Prime Minister while visting there last week whether they were going to sell to Germany one of the most famous Greek islands, Corfu. In the case of China, that has not happened, they have not purchased key US enterprizes and the relationship is much more fragile.
You know I see those kind of stupid responses that he made when it comes to even simple things like buying games and getting completely ripped off now. Since when the hell did people get the idea that corporations and government had the right to scam people out of their money?
I higly doubt it that the EU schema is sustainable under current operational mode. The common currency contributes to a continuous rise in the deficits of non-industrial countries in favor of industrial ones. like Germany. Countries with a high deficit and debt (PIIGS) have no tools to prevent further deterioration of their finances the way they could before joining the EU using currency devaluation. This forces them into harsh austerity measures and social unrest is just around the corner. My guess is that as soon as the first country goes out of the door others will follow. The Euro did not succeed in becoming a global reserve currency because of the Yuan. I keep shorting Euros with a target of 1.19 by the end of the year. My leverage is 2:1 just to let you know. Stop is at 1.62.
Ugh, why am I always stuck short EUR over the weekend when this crap has to come out? I think Dubai was up 4% early today on talk of a bailout there too. Bailout here, bailout there! I assume we'll see stocks and oil spike higher too?