Posted on 11/09/2011 8:47:26 AM PST by mamelukesabre
If you expected Spain to be the next Euro nation to collapse from economic issues after Greece(as I did), you were wrong. Italy is crumbling now as I type this.
http://www.zerohedge.com/news/barclays-says-italy-finished-mathematically-beyond-point-no-return
http://www.bbc.co.uk/news/business-15652708
http://www.reuters.com/article/2011/11/09/markets-bonds-euro-idUSL6E7M92JE20111109
http://money.cnn.com/2011/11/09/markets/premarkets/
Everything is fine. There is nothing to see here, now move along.
P.I.G.S.
Portugal
Italy
Greece
Spain
make your prediction here for the third nation to bite the dust.
I’m gonna hafta go with Spain again.
There’s two Is. You left out Ireland.
I expected Italy.
I win.
I’m going with Portugal, but Spain is a good bet as well.
And where on the list do you put the U.S.?
It’s a major train wreck, and ALL the cars are gonna get derailed..this also ENDS any chance of a Greek bailout..there is NO $$$$$
How do we know you didn’t cheat
France.
And where on the list do you put the U.S.?
~~~~~~~~~~~~~~~~~~~~~~
spain
portugal
ireland
france
euro breakup
USA
I thought Ireland was back on track to sanity. No?
Ireland to postpone funding N. Irish motorway - report
Whether or not that's a good thing, I'll leave up to you :-)
The US is not on the list. We have not yet begun to print! We will never default, as we can devalue.
The ohers can’t do that and so are doomed. Italy actually has a surplus of current revenue to pay obligations. What Italy can’t keep up with is the interest payments on its’ structural debt now that the bondholders want higher rates to cover their risk.
The economy of Greece is about the size of the economy of Chicago. Italy? About the size of New York State and California combined. It’s going to make a big noise when they hit bottom.
The US would be about #8 to #10. This thing will be speeding up so those after about #6 will start a rapid domino effect.
PIIGS - Add Ireland.
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