Posted on 04/08/2010 8:09:48 AM PDT by Need4Truth
From the WSJ:
LONDON—The yield on Greek 10-year bonds rose to nearly 7.6% Thursday, a fresh record high, increasing chances that Greece may need a bailout as concerns about Greek banks and the nation's solvency mount.
Note that Greece's deficit this year as a percentage of GDP is about equal to ours in the United States.
Note also that our Ten Year is trading 3.84% this morning.
If it blows wide as Greece's did, it's too late.
I know I'm sounding like a broken record on this, but......
Washington, listen up - our debt ratios may look "better", but only barely and only because you're holding a bunch of stuff off-balance sheet (that is, you're lying.)
Greece was lying too - to the EU, to themselves, to investors.
When they got outed, this was the result.
How long before someone bangs the drum on America?
bump
By design
The wealth of the nation, the work and savings of hundreds of years is being busted out.
I think Ambrose Evans-Pritchard or someone said Greece’s drachma lasted them thousands of years. The adoption of the euro allowed politicians and the left to cheat and live beyond their means. Now the piper has to be paid. Same thing with Ob bankrupting America.
Anyone know what the VAT rate is in those countries?
“Greece was lying too - to the EU, to themselves, to investors.
When they got outed, this was the result.
How long before someone bangs the drum on America?”
++++++++++++++++++
Lying, cheating, stealing - marxism - has consequences.
“Note that Greece’s deficit this year as a percentage of GDP is about equal to ours in the United States.”
They’re at 13% and we’re barking at their heels at 10.6:
http://www.freerepublic.com/focus/news/2489027/posts?page=22#22
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