The PIGS are screwing us all, just let Europe go under!

http://www.marketwatch.com/story/further-greek-aid-delay-feeds-anxiety-2011-10-04

So, I'm a trader. And something like the above link comes out multiple times, every day. Speculation is that Greece will certainly default at this point, but that Germany and other countries in the EU are trying to keep the markets propped up to prevent panic selling (and thus huge losses to their banks who own much of Greece's debt.)

It's a political move, pretending these PIGS (Portugal, Ireland or Italy take your pick, Greece, and Spain) aren't going to go under. Germany, one of hte few responsible countries in the EU, is just trying to preserve itself (understandably so but enough is enough).

The markets have been more volatile than even in 2008, but I "feel" cracks are starting to get bigger relating to the hope that Europe can save itself.

So my point is this; EUROPE, STOP DRAGGING THE RESPONSIBLE, hard-working COUNTRIES DOWN WITH YOU. Just default already so everyone can short your bonds, stock markets etc. as you've earned it!

The US has been showing signs of a recovery (yes republicans believe it or not there are some indicators out there pointing up) but this Europe mess is placing our markets in extremely volatile chop. Stocks have almost never been cheaper and the US (and the rest of the world lol) would be doing much better were it not for Europe. Europe needs to go under, capitulate, and stop screwing everyone else over!

 

So all the people living in Europe can go to Hell as long as you get to make bigger profits on the markets? Isn't that kind of where all this started in the first place?

 

In the last few day Greece failed to meet it's deficit reduction targets.

That means the Greeks want to keep spending money they don't have.

If the Germans refuse to give them more money what happens?

The EU could shrink to a smaller number of countries than it has today.

 

I think the responsibility falls on the countries that cannot control government spending and are dragging the rest of the world down.

 

What your seeing is the grass roots beginning of WWIII.

 

Nope. It started with governments that spent money they didn't have in order to buy votes they couldn't afford.

 

I never suggested otherwise. My point is that they have responsibility to everyone, including their own citizens and not one specifically to Liberal30's profit margin this quarter. He may even be suggesting the correct approach overall but his motivation is still appears entirely selfish.

 

Anyone considered Greece is in that position because their nationals refuse to pay taxes?

I seem to have heard that one before.........somewhere.

 

He has every right to be! Why should he, an American investor I presume, have his money riding on a wild roller coaster where it may finally drop into a pit never to be seen again.. just because an insignificant socialist society on the other side of the world is making unrealistic demands from the global marketplace?

Do you understand now that the Welfare State is GOING GLOBAL?

I, being an American and a member of still the richest nation on the planet, have absolutely NO DESIRE TO JOIN A GLOBAL WELFARE STATE.

(*)(*)(*)(*) THE EUROS! (*)(*)(*)(*)ing Obama should be on the phone screaming at Geithner and The Bernanke to start finding ways to shield our economy from the coming disaster and let the entire failed experiment implode. That is what a real President would be doing right now. Out there shoring up our economy but no the bastard is out there abusing his authority and people here are so desperate they'll cling to any demagogue that promises them a way out.

Greece is not too big to fail. Let it fail and if Europe wants to go down with it, then they can fail too. We should be trying to pick their bones clean. The Chinese would be exploiting the hell out of the Euros if they were in our position.

 

NO !!! It started with the govts of those countries SPENDING too much. It ends with the realization that socialism and bloated govt always FAILS.

*Stop blaming business for the failures of governments.*

A person knows that sooner or later their credit cards max out and that's it.
Govt always thinks it's too big to fail and borrows more and more and more.

So we have the IMF to give BAD LOANS to sinking countries. The IMF is a toxic crutch that prolongs the inevitable and pulls down the "healthy" countries in the process.

PIIGS - cut them off. Let them fail. It sucks but, it's gonna happen anyway.
Lifeguards know how to rescue a drowning person without letting them drown the lifeguard. You don't let a sinking person drown you too. A drowning person is dangerous and so is PIIGS.
And like a lifeguard knows, there are ways to help, but sacrificing your life ain't one of ''em.

 

A Hell of your own making. Where did socialism and the welfare state come from???


_

 

That's common sense, so many will not grasp it.

_

 

American banks are, unfortunately, heavily involved with European banks already and cannot easily extricate themselves from European fiscal matters. All the "central banks", including the American "Federal" Reserve System are joined at the hip, bound together in what some of us ardently believe has been a long-range plan to create a one-world economy, followed by a one-world government.

Obama isn't going to yell at anybody but Republicans, who only recently won the power to do anything to stop his headlong Keynesian plunge into ever greater amounts of staggering, crippling debt. Least of all will Obama be yelling at Bernanke and Geithner, who actually run every facet of the American economy, and who tell Obama everything to think and do regarding all economic issues.

Hang onto your U. S. dollars, avoid any personal entanglement with Euro-denominated anything, and ride it out. It's going to be a long, miserable winter everywhere -- but especially so in Europe where the bankers and their stooges in government will try to keep on kicking the can....

 

No it started with banks massively overleveraging themselves, Then threatening to bring down the economy if they were not provided with just the tiniest bit of liquidity and ended with the irish tax payer getting stuck with a bill for the bad loans made by foreign creditors to irish banks.

 

If they are going to fail and we're going to give the money anyway then I demand we exploit them Asian Style for mineral rights and anything useful we can get out of them. Force them to buy more American Products and whatever we can get them to do that will boost our economy and allow it to hold out against their own collapse.

 

Libs are a lost cause.

But I at least hope American moderates and independents are learning from the example of the pigs in the EU.

 

The problem is that many moderates and independents are so desperate right now that they are honestly willing to trade Freedom for Security. That is the bottom line and the Democrats are exploiting it to the fullest extent and there are just enough desperate people in America today to give them enough power to stymie any attempts at real reform.

 

I worry about the moderates.

They are not nearly as smart or principled as they claim to be.

 

Not my making - I work for a living. I'm still not wishing ill on anyone else just because it would make my personal financial situation a little more secure.

If default by one or more European countries is the least worst solution all around (and I honestly have no idea whether it is or not), so be it. What I object to is the idea that is should happen because a couple of traders could make lots of money out of it.

 

Let me be frank with you. Europe's poor decisions are dragging down the rest of the world. I have no sympathy for a bunch of entitled losers. I personally think we should subsidize American financial traders to continue shorting all your securities and looting as much as possible from the countries that have caused such huge losses to our own markets over hte past months.

 

You traders (American ones!) caused this mess.

And "hard working countries" - my arse! Sitting in an office betting against the companies that you've just told clients to invest in (a-la US investment comanies) is not hard work buddy - it's fraud.

 

This is and always has been my preference.

 

And why would you want to stifle American enterprise? The good people of the mortgage market would probably see the potential market for shantytowns in Greece as a growth industry.

 

I see at least 2 people are anchored in reality!

 

You'll notice he's a liberal. At least according to his user name.