Posted on 07/05/2015 6:55:28 PM PDT by 2ndDivisionVet
Oil prices fell sharply in early trading on Monday after Greece rejected austerity measures demanded in return for bailout money and as China rolled out an unprecedented series of steps over the weekend to prevent a full-blown stock market crash.
In a referendum on Sunday, Greeks overwhelmingly rejected austerity measures demanded in return for bailout money, putting in doubt its continued place in the single currency and pulling down the euro EUR= in early trading on Monday.
In China, stock markets face a make-or-break week after officials rolled out a series of measures to prevent a full-blown stock market crash that would threaten the world's second-largest economy.
Both U.S. CLc1 and internationally traded Brent LCOc1 futures were down over 1 percent, trading at $55.08 and $59.72 per barrel respectively at 0035 GMT.
The falls meant that both crude futures were at their lowest level since mid-April....
(Excerpt) Read more at reuters.com ...
Just mint a trillion dollar coin, like Mr. Obama planned on doing.
The only question I have is who’s Face goes on the Coin.
LOL
Yes, but they voted for their own problems!
I’m going to the bank in the morning. I will tell them I want a 50% reduction in my mortgage and also for them to loan me another 100K with no interest and no payment schedule. I voted for it and expect them to honor my vote.
I need the 100K for a new fishing boat and lots of whisky to drink while I fish.
Possibly, but unlikely. The US has been getting out of anything Greece related for months now so their liability is small. As to others, Germany mainly, they have been investing in Greece for years and are not going to lose their butts. This also applies to others in the Eurozone as they have gone along with this... Too bad!
Ha, are you Greek?
I go on an annual motorcycle ride through the alps with some Austrian and German friends. Even the tiniest villages in the “Green Hills of Tyrol” are swarming with economy boosting immigrants wandering aimlessly. In the middle of the alps 20 miles from the nearest village there’s an African with a bag of trinkets, socks, thread, and various other sundries. There must be organized gangs that round them up and dump them off to sell junk.
ZimGreeceBwe
The loans to the Greeks are insured and those policies are reinsured. Those are subsequently hedged by futures contracts on debt repayment and then derivatives are sold on the futures contracts. Dominoes piled on top of dominoes.
Yes, exactly - who is effectively insuring german bank debt?
The plan was obviously for something worse. Why do you think he voluntarily took hemlock, surrounded by friends and students (but not his wife)? The entire story was written from an admiring student’s perspective.
No doubt, much like the Romanians. I didn't see any women though. I wonder if they come also. With the Romanians, you typically only see the women but they only beg, they don't even make any pretense of selling junk.
This must be sort of new because, I haven't been down that way in about 5 years but prior to that I have spent quite a bit of time in Northern & Southern Europe and don't recall seeing it so widespread.
the unanswered question....... what precipitated the decline of oil prices?
They vote for more freebies. I doubt they care about who is handing them out. It's exactly what will happen here as we add more and more folks to the rolls of the Dependent Class.
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