[Ed Goldstein]

Is Greece the tip of the iceberg?

Chicken little may be ahead of us hunkering down in a cabin in the woods!

http://www.fulcrumtrader.com/market-...ting-to-happen

fast eddy

[brownsfan019]

You have to wonder if...

1) Is the entire planet close to entering an 'ut oh' credit crisis

or

2) Is the media just doing their job and creating concern out of nothing

Since we've never had a global 'redo' I would lean towards #2, although a global start over would be interesting to live through, esp as a trader.

[bakrob99]

Originally Posted by brownsfan019 »

You have to wonder if...

1) Is the entire planet close to entering an 'ut oh' credit crisis

or

2) Is the media just doing their job and creating concern out of nothing

Since we've never had a global 'redo' I would lean towards #2, although a global start over would be interesting to live through, esp as a trader.

If I remember correctly, planet Earth does not YET owe anything to the Martians or other beings stupid enough to lend it to us... so it's all about who is the debtor, and who are the indebted... watch the money.

[Kiwi]

The trick is that planet earth may be owed a fair bit by mankind.

Should the planet collect the boys with the baseball bats might be a little harsh.

[Gabe2004]

From the Merriam-Webster Dictionary
Main Entry: ho·lo·caust
Pronunciation: \ˈhō-lə-ˌkȯst, ˈhä- also -ˌkäst or ˈhȯ-lə-kȯst\
Function: noun
Etymology: Middle English, from Late Latin holocaustum, from Greek holokauston, from neuter of holokaustos burnt whole, from hol- + kaustos burnt, from kaiein to burn — more at caustic
Date: 13th century
1 : a sacrifice consumed by fire
2 : a thorough destruction involving extensive loss of life especially through fire <a nuclear holocaust>
3 a often capitalized : the mass slaughter of European civilians and especially Jews by the Nazis during World War II —usually used with the b : a mass slaughter of people; especially : genocide


I find that using the word Holocaust is totaly out of line since a financial calamaty has nothing to do with loss of life.

Gabe

[BlowFish]

Originally Posted by Gabe2004 »

From the Merriam-Webster Dictionary
Main Entry: ho·lo·caust
Pronunciation: \ˈhō-lə-ˌkȯst, ˈhä- also -ˌkäst or ˈhȯ-lə-kȯst\
Function: noun
Etymology: Middle English, from Late Latin holocaustum, from Greek holokauston, from neuter of holokaustos burnt whole, from hol- + kaustos burnt, from kaiein to burn — more at caustic
Date: 13th century
1 : a sacrifice consumed by fire
2 : a thorough destruction involving extensive loss of life especially through fire <a nuclear holocaust>
3 a often capitalized : the mass slaughter of European civilians and especially Jews by the Nazis during World War II —usually used with the b : a mass slaughter of people; especially : genocide


I find that using the word Holocaust is totaly out of line since a financial calamaty has nothing to do with loss of life.

Gabe

Agree, though certainly not going to get bent outta shape by it The guy that wrote the original article seems a little fixated by holocausts (can you have a plural?). Kind of a latter day short term Nostradamus.

[BlowFish]

Originally Posted by Gabe2004 »

From the Merriam-Webster Dictionary
Main Entry: ho·lo·caust
Pronunciation: \ˈhō-lə-ˌkȯst, ˈhä- also -ˌkäst or ˈhȯ-lə-kȯst\
Function: noun
Etymology: Middle English, from Late Latin holocaustum, from Greek holokauston, from neuter of holokaustos burnt whole, from hol- + kaustos burnt, from kaiein to burn — more at caustic
Date: 13th century
1 : a sacrifice consumed by fire
2 : a thorough destruction involving extensive loss of life especially through fire <a nuclear holocaust>
3 a often capitalized : the mass slaughter of European civilians and especially Jews by the Nazis during World War II —usually used with the b : a mass slaughter of people; especially : genocide


I find that using the word Holocaust is totaly out of line since a financial calamaty has nothing to do with loss of life.

Gabe

Agree, though certainly not going to get bent outta shape by it glad someone did mention it (I could not be bothered tbh). The guy that wrote the original article seems a little fixated by holocausts (can you have a plural?). Kind of a latter day short term Nostradamus.

[AgeKay]

Originally Posted by brownsfan019 »

1) Is the entire planet close to entering an 'ut oh' credit crisis

I would like to say "it's about time" but that would sound just cynical. Truth is all major governments have accumulated so much debt that they will NEVER EVER be able to pay back all the while accumulating more debt and having to pay more interest on it. There will come a point (just a matter of time) that countries won't be able to pay the interest on that debt, whenever that will be. But what usually happens is that people stop being in denial about it due to some catalyst e.g. financial crisis, Greece more than 10% new debt to GDP ratio, etc.... [continued below].

Originally Posted by brownsfan019 »

2) Is the media just doing their job and creating concern out of nothing

...and then all of the sudden the media starts talking about it (as if they had just found out that these countries had massive debts that they could never pay back) and then the common people (read: ignorant people) wake up and complain about it. Now politicians have to react to it and initiate measures that are somehow supposed to fix it (because quick-fixes always work, right?) but they usually make it worse (like lending Greece more money instead of kicking them out of the Eurozone). When everyone finally realises that there is no way to fix this, everyone starts to accept reality and something huge is going to happen. My initial thought was hyperinflation but that can only happen locally. Probably the world governments just decide to reset all debts, who knows, the world has never been so interconnected...

All I am sure of is that in the end the speculators, "greedy" bankers and "rich" people will be blamed. I love how the Euro recently went up after going down and in the news they said "short speculators got raped today" and all the common people got their "revenge" as if speculators were the only one's shorting the Euro and not allowed to buy it back until it came all the way back up.