Posted on 05/16/2010 7:36:29 PM PDT by mainsail that
After a brief respite following the announcement last week of a nearly $1 trillion bailout plan for Europe, fear in the financial markets is building again, this time over worries that the Continent’s biggest banks face strains that will hobble European economies.
...
While the direct exposure of American banks to Greece is minimal, American financial institutions are closely intertwined with many big European banks, which in turn have large investments in the weaker European nations.
For example, Portuguese banks owe $86 billion to their counterparts in Spain, which in turn owe German institutions $238 billion and French banks $220 billion. American banks are also big owners of Spanish bank debt, holding nearly $200 billion, according to the Bank for International Settlements, a global organization serving central bankers.
Furthermore, financial policy makers find themselves running out of weapons in their arsenal.
(Excerpt) Read more at nytimes.com ...
"With the exception of wartime, “the public finances in the majority of advanced industrial countries are in a worse state today than at any time since the industrial revolution,” Willem Buiter, Citigroup’s top economist, wrote in a recent report. "
Obama needs weak dollar and strong euro. China is laughing at both the Euro zone and Barack The Kenyan.
and who will bail us out?
We wanted to double exports but the dollar is too strong and EU economy—the buyer for our top notch technology—is going down.
I hope another AIG didn’t insure the entire EU banking
Who better to borrow the money from the Chinese than us???
So after it all crashes, I just wonder who/what will takeover in the USA.
The Left has been busy propogandizing in Universities these past decades, owns much of the broadcast media, and leftist unions, etc... are well-organized.
Conservatives, on the other hand, tend to own guns and much of the military is conservative and outside major urban areas, common-sense can still be found.
Hmmmmm.....
The alternative is unacceptable, imagine if Europeans had to move up to 32 hour workweeks?
>> and who will bail us out?
Check the mirror above your bathroom sink for an important message.
THE PAIN! THE SUFFERING! THE INHUMANITY!
There’s a solution to all of this: orderly bankruptcy thorough the courts. The chicken’s have come to roost. The smarmy douchebag in the Oval Office is about to eat manure. This isn’t going to be pretty and I foresee JAIL time for many elites. Dodd and Fwank should be first on the list.
Ultimately the world will try to lay this debt at the feet of the American Taxpayer...on a far grander scale that what we see now.
$2tril bailout package for Europe anyone?
When the payer of last resort, the US Taxpayer says "no" to the loan...hell will quickly envelop the world. And, it's right to say no.
This is the fault of central banking combined with socialism.
Do NOT let them tell you this is the fault of Capitalism and the free-market economy.
Why a central bank at the global level and their new global currency.
We’ll just have to agree to give up certain aspects of our “excessive” lifestyles...
Germany, France, et al, to the EU: AMF, YOYO...
World wide Austerity forever
‘....the International Monetary Fund warns that “high levels of public indebtedness could weigh on economic growth for years.”’
No S@#t Sherlock. Tell us something we don’t know.
Wasn’t it about 6 months ago that they were saying that the Euro was going to replace the dollar as the preferred world currency?
I don’t think just running the presses to make funny money at the Fed is going to help matters any...
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