[QUOTE=repete;502940]401k? Its a ripoff in the first place. Investments? In Banksters? if youre dumb enough to take a chance like that youre wealthy enough to afford to lose it. If it gets as apocalyptic as these guys are saying, then cash wont matter anyway, it wont matter if you have a big house or nice house, a mil in the bank etc. - it will matter if you have skills you can trade for food or better yet if you can grow and produce food.

 

"if the government doesn’t use all-out force to make its citizens to go along with austerity, the international banking cartel, having blown up the global economy, will withhold further sovereign lending and cause a political crisis. Do you like your debt at gunpoint?"
International Banksters, Now Running Greece, Invoke Wartime Powers | Richmond Tea Party

And you guys think government is bad? try living under the rule of a bankster!

 

I seem to have misplaced my "The Economy" thread. Maybe it wasn't happy enough for the current breed of moderators. Or maybe they don't think truckdrivers are smart enough to digest and make sense of economic news. Or maybe they are misinformed enough to think that what happens across the pond has no effect on the average American "working Joe".

Happy, oh so happy news from across the pond today:

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It's non-political and happy-happy-joy-joy.

 

As long as the the discussion stays on the economy and how this affects us without breaking down into outright politics it can stay Michigan.

Good to hear the better news from Greece though I'm not completely buying their newest fixes. Eventually they are going to have to make some hard decisions that will further inflame their people. We really do not want to see this domino fall the wrong way, they are the hinge point for the rest of Europe as you said in the other thread.

 

I was just packaging my remarks in happy talk in an attempt to avoid being censored. The higher rate on Greek bonds simply means that no one wants them and Greece's cost of borrowing has gone through the roof. The only real good news out of Europe yesterday that I saw is the head of the European Central Bank said that Greece probably will get the 11B Euro loan they're waiting on and China wants to buy Italian debt. Bad news included one comment after another that all the headlines out of Germany were about Merkel becoming increasingly isolated in her views on giving Greece more time. Politically it seems either Greece is cooked or she's cooked.



Would you please change the title of this thread to something more appropriate? "Greece" would work.

 

[QUOTE=One;502957]WOW Your really way out there arn't you? Tell me, are planning on working right up till the day you die or are you planning some kind of retirement?
As far as the end of the world as we know it, a gallon of gas would be worth more than a handfull of $20s but I doubt that will happen. BUT if it does I have a hunting cabin in the woods and room for a big garden, I can make you a deal if you have a green thumb. :LOL:

 

You do bring up an interesting side thought with Italy there Michigan. Few people knew that they were very close to following Greece. Between us and NATO, we saved Italy at the last second by using them as a staging point for the Libya actions. All countries involved with the Libyan situation are paying Italy essentially rental fees for using their airbases. It has bought the Italians some time to get their house in order without defaulting and last I heard they are rebounding ok.

 

I didn't know that. Italy getting paid for airbases, that's good. The rumor mill has been working overtime. It's the internet age, spread some good or bad news and go long or short an index fund and make a pile of cash if your planted story goes viral. Italian bonds and China? It turns out no. The biggie today though was a WSJ report quoting an anonymous source at a French bank that said French banks were shut out of US money markets because they were deemed too risky. Of course the market tanked (for awhile) and someone made a pile of money. The bank is supposedly trying to figure out the source of that manure.

I think this might be true. Merkel, Sarcozy and Papandreou are supposedly going to do a conference call tomorrow and they'll probably release a statement about how wonderful everything is and the Dow will go up 200 points and 2 days later everyone will suddenly say "wait just a cotton pickin' minute, we've been had!!!" and the markets will tank. lol

 

Everyone really needs to simply keep up with Greece and forget all the other BS. Unfortunately the market won't do that, it will just keep jumping back and forth each day and annoy anyone who is playing in the market on what to do next.

 

What is going on with Greece makes people very nervous. Greece is a very old country. To think about one of the oldest economies in history failing is almost unthinkable. I think that it forces others, such as the U.S. to consider that if Greece can fail, so can we and others.