Posted on 04/19/2010 4:38:05 AM PDT by captjanaway
The Trojan Horse inside the world’s financial fortress is the European Union. Lurking in it are Greece, Spain, Portugal and Ireland. When they finally spring into the daylight and are seen by multinational banks and lenders, a second financial meltdown will begin.
What is the cause of the coming meltdown? Simply put, for years Greece, Spain, Portugal, and Ireland have spent more than they have earned. To do that they sold their government bonds (just as we sell our government bonds to China) promising to repay the value of those bonds, plus interest. In other words, they borrowed money to squander on socialist programs like free healthcare. Today, they are so deep in debt to foreign lenders they cannot even pay interest on their existing loans, and lenders are very reluctant to send good money after bad.
(Excerpt) Read more at familysecuritymatters.org ...
We are Greece now.
We'll have the last laugh. When we default, all China will have is a stack of worthless US Treasury bonds. We, on the other hand, will have all those Happy Meal toys to play with!
You are assuming we will default before we weaken ourselves and strengthen China to the point where they can kick our ass and seize real estate and other assets as re-payment.
Happy Meal toys and all the crap at The Dollar Tree (or whatever they are called).
I would go short on the USA right now. This is still going to come down. They can only flail around for so long. The government is like a caught fish flopping on the deck
"It's all Greece to me!"
Greece is the word.
They can duke it out with Japan over hmmm Guam and Okinawa.
Yeah we could sell China Okinawa that would work.
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