“Why France’s Rescue Plan for Greece Won’t Work Either” and “Debts, Deficits, and the Demise of the American Economy” – 06/29/2011

Dear Ladies and Gentlemen,

For your Information (FYI) unfortunately NOT For Your Entertainment (FYE)

http://www.cnbc.com/id/43564919

“Greece has an economy that is tanking, with high unemployment, plunging sales and few other signs to indicate that it can grow its way out of its problems, regardless of the duration extended for its maturing debt.”

““People think Greece will be saved by the current rescue. But they underestimate the people’s reaction to the draconian austerity measures that will reduce salaries, pensions and many will get fired,”
“A third of the country works for the government and they’ll feel it. They will take to the streets and the country will crumble. The various analysts haven’t taken into account the cultural and ethnic characteristics. Greeks aren’t Germans. Germans are disciplined and they obey orders in lockstep, and sometimes they do it too well. Greeks are free spirits and they will take to the streets.” ”

 

http://www.amazon.com/Debt-Deficits-Demise-American-Economy/dp/1118021517
http://en.wikipedia.org/wiki/PIGS_(economics)
http://www.economist.com/node/15838029

“The financial Armageddon will begin with the collapse of the so-called PIIGS nations—first Greece, then Ireland—leading to a crisis of confidence in European banks and a sharp devaluation of the euro. Speculation about the fate of the EU will spark a trading frenzy in world equities markets, and the rising uncertainty will bring a rapid decline in world stock markets. The bond markets will all but shut down, and interest rates will spike. In short order, the focus will shift from Europe to the United States and its monumental debt and out-of-control deficit spending. The U.S. Treasury will shift its printing presses into high gear as it churns out additional billions to cover its debts, but America’s deteriorating financial condition will cause a spike in interest rates as buyers of U.S. Treasuries lose confidence. Several states will default on their municipal debt; in many cases, retirement checks to former state employees will cease. From there, events inexorably will lead to soaring inflation of an order not seen since the 1970s.”

Big Hugs and Kisses to All!;+)

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s