Greece, democracy and global financial failure

[Rottis]

Originally Posted by vain

Am I missing something? Can't seem to find where you're getting that number.

That agreement is on top of past agreements, ie. already on reduced prices.
Those numbers I gave are not accurate/calculated, they are ballpark.
Media on this whole issue is borderline hilarious. All the facts might be right,
but presented out of context and separate.

For example: "Last deal has been reached" was nothing but a agreement on
what was demanded out of Greece. Yet it was presented by media in a way
that gave impression of something concrete.

Originally Posted by vain

your country just won more austerity and 130 billion more euros in dept, congratulations.

Ye, I love it and how that's reported as well. No country has presented the
bailout funding like it actually is. And every patch has been presented
separate. People don't know they all stack up and they will have to be paid
(or defaulted) in future.

Those amounts are insane. Order of magnitudes more than original dept of
Greece was. Now they where reset and it all sounds 'good', but in reality all
these stuff happening past few years has been nothing but political game.

Edit: And of course there's a BIG downside of certain population of certain country suffering from this stuff.

[cove3]

Also, the 4B net CDS seems low. Even if it's true, as I mentioned much of it is owned by non-holders of Greek bonds, but more importantly, it's likely there's going to be a bunch of counterparty bankruptcies meaning some of those CDS won't pay off. It's going to take a long time to unwind those before the true extent is known.

As of now though, we can safely say nothing's yet been paid to CDS holders.

Ron

[Vapor]

Slightly unrelated, but thought you guys might like this
http://www.borowitzreport.com/2012/0...goldman-sachs/

[system7]

Originally Posted by Vapor

Slightly unrelated, but thought you guys might like this
http://www.borowitzreport.com/2012/0...goldman-sachs/

It's actually EXTREMELY related.
http://www.nytimes.com/2012/03/14/op...0Inc&st=Search

I have previously related how the Greek crisis was set up by Goldman-Sachs fiddling the books in cahoots with the Greek politicians to get into the Euro.

Selling toxic crap to muppet investors is Goldman's stock in trade. When it all goes belly up, you find Goldman was actually hedging on a collapse!
http://www.rollingstone.com/politics...chine-20100405

Goldman loves turning ANYTHING into a market. Oil, commodities and currency are classic examples where paper trades routinely are 10 times the volume of real trades. Who cares if 100m people starve when food prices inexplicably rocket, and then crash leaving muppet investors broke, or if the ordinary Greek people have no future. Goldman has already run away giggling with the cash. I believe environmental carbon credits are Goldman's next wheeze in cahoots with government backing. More cash for crap! Beware, people. These bankers are up to no good.

[Vapor]

Hah, Glad you liked it, well since you brought up Taibbi, I guess it couldn't hurt to take this thread a little more askew (I guess it all fits into the bigger picture)

http://www.democracynow.org/2012/3/2...il_matt_taibbi
http://www.democracynow.org/2012/3/2...ve_resignation

I feel the point Taibbi makes about the change in Goldman Sachs culture in the second clip, has become quite endemic and shows it signs in most political and economic realms, (results now at regardless of the long term price)

[system7]

Unsurprising news from France. Some Champagne Socialist is just elected President in place of the expected IMF socialist banker guy (Dominique Strauss-Kahn) who turned out (As I predicted...LOL) to be a serial rapist.



http://www.bbc.co.uk/news/world-europe-17979913

Seems this twit is all in favour of Da Yoot (Giv dem Beats an' Drugs) and taxing Banks. Oh right, so growing businesses by not taxing them to death is too unpopular.

Is there really no idea where GROWTH is going to come from. Well, I tell you, we keep electing idiots, so I guess we're doomed.

FWIW, Greece has given a big thumbs down to common sense in elections too. Jam today is the message.

[265586888]

France isn't China, they don't have 1.6 billion people to support its domestic demand, let alone creating such "demand" to support the expansion of public expenditure.

Government provides subsidies for people to replace old cars/electronic equipments? Applicable to most first and second-tier cities and even some rural communities?

[pmoses]

OK, Greece de-facto de-faulted, at least once a year in last three seasons.
So, we have to rename thread: France - Let it go bankrupt, seriously.
Run Mr. Hollande, run!
http://www.youtube.com/watch?v=5R_HIcE_TIE

[vain]

Originally Posted by 265586888

France isn't China, they don't have 1.6 billion people to support its domestic demand, let alone creating such "demand" to support the expansion of public expenditure.

Two words: per capita.

[265586888]

Originally Posted by vain

Two words: per capita.

75% subsidiaries for buying LV/Hermes/YSL, Peugeot, Lafite, Foie gras/Caviar/White truffles? I'm in. </sarcasm>