The Economic News

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Greeks with their austerity measures and Americans nearing on their debt ceiling...

[Munchiez 74]

Americas debt is too far, already at the ceiling!

[A Nonny Moose 8,261]

Ireland, Portugal are also in too deep to get out easily. If any of them actually defaults, expect a major financial disruption world wide. Isn't the global village an interesting place?

The Greeks were saved for about three months. The U.S. has a big crunch in August. Things just can't keep getting bigger and bigger.

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Yesterday, the Dow rallied to one of the highest weekly gain in two years. Minnesota Government shuts down because of its budget woes.

Yesterday, the Dow rallied to one of the highest weekly gain in two years. Minnesota Government shuts down because of its budget woes.

[TekindusT 3,809]

Ireland, Portugal are also in too deep to get out easily. If any of them actually defaults, expect a major financial disruption world wide. Isn't the global village an interesting place?The Greeks were saved for about three months. The U.S. has a big crunch in August. Things just can't keep getting bigger and bigger.

Don't worry, you can use the PIGS acronym here...

And I still wonder what kinds of "obscure" interests are behind of Moody's, Standard & Poor's et altri, companies that can bring down a country's whole economy just saying a word.

  Edited July 4, 2011 by TekindusT  

[A Nonny Moose 8,261]

Ireland, Portugal are also in too deep to get out easily. If any of them actually defaults, expect a major financial disruption world wide. Isn't the global village an interesting place?The Greeks were saved for about three months. The U.S. has a big crunch in August. Things just can't keep getting bigger and bigger.

Don't worry, you can use the PIGS acronym here...

And I still wonder what kinds of "obscure" interests are behind of Moody's, Standard & Poor's et altri, companies that can bring down a country's whole economy just saying a word.

Unfortunately, the world is in the grip of these Bond Rating outfits. You can be sure that if you follow the money, you'll find the fat cats. This is the same kind of problem on a global scale why a lot of people can't get a car loan, because some credit rating outfit has unverified or false information about an individual's fiscal performance. Getting these idiots to clean up their data base is nearly impossible unless you have oodles of money for lawyers, in which case you don't need the loan.