The global economy:falling like dominoes
Posted on 07/11/2011 1:07:25 PM PDT by lbryce
Italy will get bailed out by france and germany.
The question is: Who’s gonna bail out us ?!?
Anybody old enough to remember the Ed Sullivan ‘shew’ will remember the guy who balanced spinning plates on poles —
That’s the mental picture that’s come to mind more and more, of late....
Italy isn’t Greece.
The numbers involved are far larger.
Larger than France and Germany can take on.
I've never met the person who remembered the shew who didn't remember the plate guy... Odd how someone like that stays with you...
“Italy isn’t Greece.”
That’s not a valid answer to the question: Who’s gonna bail out us ?
Can I Join the Old Frog Club too? I remember.
We obviously won’t be bailed out. We have a couple options.
1) Print a ton of money to pay off the debt and let hyper-inflation take over
2) Default on the dollar and replace it with another standard like gold or land.
I bet on inflation.
I expect to pay back my 4.5% 30 yr fixed rate mortage with Baraqqi/Bernanke minibucks.
Also, Topo Gigio, the little Italian mouse.
“Default on the dollar and replace it with another standard like gold or land.”
Land as a currency would be fun.
A: How much is that haircut
B: 15 square inches of avarage quality land
A: How about 5 square inches of premium soil in Nebraska ?
B: Nebraska ?!? I’m from Florida !?!
” Land as a currency would be fun.
A: How much is that haircut
B: 15 square inches of avarage quality land
A: How about 5 square inches of premium soil in Nebraska ?
B: Nebraska ?!? I’m from Florida !?! “
Hey - maybe that “Square-Foot-of-the-MOON!!” that I got for Christmas might actually end up being worth something...
(Now where did I put that ‘deed’??)
They should have listened to that old Peanuts cartoon strip.
Why are the mountain climbers all tied together?
So that when one falls....they all fall!
Aren’t we safe since we already have our mortgage though? It’s the new mortgages that will kill you.
You could probably sell your house and make a “fortune”, but you won’t be able to afford to buy another place to live.
I’m done as far as house swapping.
99% certain my next one will be a nursing home or cemetery.
Retired and got no plans to move until health fails.
Welcome - you’re in ...
There's US$14 TRILLION in American-owned liquid assets sitting in offshore financial centers for tax avoidance reasons. Change our tax laws to bring that US$14 trillion back (e.g., no more taxes on bank account interest, capital gains and stock dividend payments, a feature of the Steve Forbes flat-rate income tax plan and the FairTax proposal) and the US economy will immediately take off. Also, it means we can start to "wind down" Social Security and Medicare obligations for future generations, since American residents can create financial "nest eggs" for retirement and medical bills completely tax free.
Not possible. Italy’s external debt is about 1.3 trillion Euros. Spain has almost as much external debt.
“... the US economy will immediately take off.”
That is IF we do some sensible economic policy thing ... well, that requires a President other than Obama.
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