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MisdemeanorRebel
2011 Jun 23, 12:39pm
MisdemeanorRebel
2011 Jun 23, 12:39pm
There really is no growing out of this kind of debt. Austerity simply creates a downward spiral of unemployment, less benefits, and less spending.
I'm excited to discover who wrote the Derivatives on a Greek Bond default. Which US investment bank that screamed for less regulation and more laissez-faire will be the first to beg the Treasury or Fed for a bailout?
It's gonna happen. Does anyone actually believe what's been going on these past few days will to lead to a successful Greek 'bailout'? Clearly the powers that be are just buying time to cover their asses before the hammer falls. They are all screwed either way...
If If the Greek government passes further austerity (likely at this point), the populace will revolt, the government will fail, then Greece will default later. Alternatively, if the Greek government doesn't pass further austerity measures, Greece will not get anymore bailout money, and Greece will default sooner. What other real options are there?