No risk that U.S. will be like Greece: Geithner

Discussion in 'Wall St. News' started by ASusilovic, Mar 10, 2010.

  1. Ha, ha, ha, ha.....:D :) :p :D

    No, Greece had no Lehman, no AIG, no mononliners, no Merrill, no Wachovia...too funny.
  2. Yet the market is up 80% in one year ?!!??!
  3. Zimbabwe's market was up what, 12,000%?. You wouldn't have wanted any part of that, would you?

    By from 1982-2005, Turkey's market was up 2 MILLION percent? Sound good?
  4. ...up in smoke, like flaming saganaki, drachmas and ouzo! :eek: :D :(
  5. Ouzo... ummmmm!
  6. Read my lips!
  7. oh dear everything he says the opposite comes true
  8. S2007S


    Do you know what happened as the market rallied to insane levels?????

    Inflation in the country is now running at 89.7 sextillion percent. That is 89.7 million million million, or 89,700,000,000,000,000,000,000 (that’s twenty zeroes!)

    Putting that into perspective, there are about 70 sextillion stars in the known universe apparently…

    Things got absolutely nutty. The exchange rate plunged so badly that one U.S. dollar fetched 12.6 trillion Zim dollars. The economy ground to a halt. And the share market plunged by 86% in the two months to November.

    And after that this happened

    With the decline of the Zimbabwean Economy, the stock exchange remained closed for a long time, only reopening on February 2009. Hyperinflation had rendered the Zimbabwean Dollar useless and the US-Dollar was adopted legal tender for trading on the exchange.

    As of March, 2009, trade has been very thin, with very few foreign investors willing to risk trading on the market. Most stocks trade in the US-cent range, with at least 26 different stocks not trading at all.