Who is getting out Lot of states and towns are broke Worst is yet to come Sent from my BlackBerry® Smartphone by WCW
-----Original Message----- From: Ricardo Aráoz <[email protected]> Date: Wed, 19 May 2010 11:03:12 To: ProFox Email List<[email protected]> Subject: Re: [OT] Europes Mounting Debt Crisis Stephen Russell wrote: > On Wed, May 19, 2010 at 8:11 AM, Nicholas Geti <[email protected]> wrote: >> Haven't heard much from the U.S. bashers on this list about our financial >> woes. The 1 trillion to bail out Greece is only going to last one month. >> Then they are back in the tank. Their debit is now 120% of G.N.P. >> >> Here's back at them http://tinyurl.com/2e8ht8q >> >> "In some ways European banks are worse than ours. They're certainly less >> transparent," says our guest Chris Whalen, managing director at >> Institutional Risk Analytics. "It's a strange time. And I think it talks to >> the basic lack of competitiveness, the lack of productivity really in >> Europe. And you also have the same problem in the U.S. We just have the >> flexibility of being able to print money." >> >> "For Europe, basically they have two options: Individual countries can >> continue to borrow money until they can't. Then they hit the wall," says >> fellow guest John Mauldin, president of Millennium Wave Advisors and author >> of the Thoughts from the Frontline e-letter. "Or they can willingly throw >> themselves into a Depression by cutting their deficits dramatically." >> >> "I think the euro's going to parity. The pound's going to parity," Mauldin >> says. "And we're going to see the yen go to $100, then $125, then $150. >> Pretty soon we'll get a bid for $200 and $250," which will have huge >> implications for global trade. > ------------------ > > But will China adjust the yuan so you can keep buying more crap? > > If I had the time this summer I would totally consider a trip to > Europe. Euro could be < USD and that is why I woudl do it now. But > I have to get my mom's house ready for sale. :( > And that may be a problem for you Yanks. It seems your economy is starting to get out of the mess it was in (big debt though, internal and external), and it would seem Europe is in for a rough ride, not only Greece but Spain is in some trouble now. Problem with this is that Germany was pressing to keep Euro up (they've been buying companies abroad and high Euro favours them) but that will be probably impossible now, so Euro will go down. That makes Europe more competitive in the international market and makes the USD less competitive by comparison. Stephen's reaction might be an example, USD flowing to Europe. How will this impact on your recovering economy I have no clue. BTW, now that you are getting out I don't seem to hear Obama's critics anymore (at least on economic grounds). Plus ca change, plus la meme chose. _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[email protected] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious. _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/2044912317-1274278317-cardhu_decombobulator_blackberry.rim.net-13331244...@bda238.bisx.prod.on.blackberry ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
