Posted on 05/09/2010 5:11:27 PM PDT by Bigtigermike
At the end of last week, the US looked hard at Greece and was scared. So tiny an economy should not be bringing all of Europe low and even threatening to explode the euro, but it is. What started as a US financial crisis plunged Europe into recession; was Europe about to return the compliment? What, Americans began to wonder, did Europe’s problems tell them about their own?
The cause of the present turmoil, Greek public debt, has aroused fears of a wider sovereign-debt crisis and heightened concern about US government borrowing. More immediately, investors are asking, what if the European Union keeps making a hash of the problem? Will there be a second European banking crisis, and would it infect the US financial system? Even if the answer is no, the US recovery is still fragile. The economy would not be immune to another slump in EU demand.
(Excerpt) Read more at ft.com ...
No, Europe had way too much debt long before the recession started.
Dude,,, rescue?? I really hope you are not betting on being "rescued" by the communist in the White House. His goal is to destroy america and rebuild a socialist utopia. Destroy, yes,,,, rebuild.... no. good luck
IMF assistance?
The EU and IMF basically gave a country with a debt crisis another $145 billion at high interest rates. That is the last thing Greece needs.
Sorry guy.... you are stating the very reason I did not have kids.... good luck.
We must of come up with more OPM. I guess I have to go to work to pay for some Big Fat 45 Year old Greek Government Retiree to sit on the beach and sip OUZO!...NOT!
Gap and Crap.
The EU and IMF basically gave a country with a debt crisis another $145 billion at high interest rates. That is the last thing Greece needs.
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Oh yes, kinda like the ChiComs loaning more money to the USA.....has its parallels!
it’s Sunday. Were they out of business or just closed?
We’re in a Recession. More and more biz will be closed on Sunday’s. Don’t have to pay the help...it was ALSO Mother’s Day. I remember the 1950’s-60’s...when LOTS of things were closed .... oh, and banks closed at 3pm EVERY DAY...except Fridays.
This is all just another desperate attempt to delay the inevitable. Kick the can down the road for another few months, even a year. We’ve been doing this for decades. But instead of solving the problem, we’ve been upping the ante with new entitlements to ensure the people stay pacified. When this baby blows, its going to make fixing the oil leak in the Gulf look like child’s play.
“fears of a wider sovereign-debt crisis and heightened concern about US government borrowing.”
But our dear leader has assured us that this insane government spending is leading us down the road to recovery!/sarc
We need to start questioning the debt backed money system.
http://www.swarmusa.com/vb4/content.php/194-Freedom-s-Vision-In-a-Nutshell
You are lucky to have spared yourself that pain.
They were out of business. A local Borders and Blockbuster had recently closed as well.
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