| User Info
| Greece: Are You READY? in forum [Market-Ticker]
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Swingtrader
Posts: 9108
Incept: 2007-08-12
United Oligarchic Goldman Sachs States of America
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Slow-motion train wreck.
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Swing said "Well, it is collapsing as we watch.This is what it looks like." Australian federal judge Jayne Jagot, doing what US judges need to do!
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Trades50
Posts: 4214
Incept: 2007-10-30
Land of Tax and Spend
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What types of stick-saves will Bernanke, the Fed and ECB come up with? It's election time.
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When the people fear the government, there is tyranny. When the government fears the people, there is liberty. - Thomas Jefferson
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Ramthebulls
Posts: 10849
Incept: 2007-09-24
Queens, NY
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Is there a better source for that 20% figure than the Slog?
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Umbrage is like love. No matter how much someone takes, there's always more for you to give.
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Inkt2002
Posts: 99
Incept: 2009-07-15
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Its over folks
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Anti
Posts: 4286
Incept: 2007-10-09
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Quote:But it appears that there is no reason for the Greeks to avoid it at this point, Except that Greece has a bankster puppet PM.
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Checkthisout
Posts: 167
Incept: 2010-10-01
Cary, NC
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Tickercon 1 in 4,3,2....
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There are no gun free zones where free men tread.
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Truthseeker
Posts: 8474
Incept: 2007-10-07
NorCal
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Who could have seen THIS coming??? 
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"...But people better realize that the worst-case scenario could actually happen.9/11 happened. This can happen. An economic 9/11, the likes of which we've never seen." Gerald Celente
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Landshark
Posts: 11247
Incept: 2008-02-07
The Wild West
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I am so shocked... shocked, I tell you.
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Success in life is a matter not so much of talent and opportunity as of concentration and perseverance.
– C. W. Wendte
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Trades50
Posts: 4214
Incept: 2007-10-30
Land of Tax and Spend
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Quote: Its over folks I'll believe it when the rest of the PIIGS default and when the market starts raising interest rates on the US. This might be the spark. So far the central banks have been able to avert financial disaster while deficits keep climbing.
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When the people fear the government, there is tyranny. When the government fears the people, there is liberty. - Thomas Jefferson
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Truthseeker
Posts: 8474
Incept: 2007-10-07
NorCal
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As Karl is fond of pointing out, "the math never lies". Expect a big  followed by the famous "told ya" very shortly.
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"...But people better realize that the worst-case scenario could actually happen.9/11 happened. This can happen. An economic 9/11, the likes of which we've never seen." Gerald Celente
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Checkthisout
Posts: 167
Incept: 2010-10-01
Cary, NC
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And with everything in lock-step, leveraged to the hilt, if it falls, it ALL falls & there won't be a 'flight to safety'. Safety is cash.
Dow
12,767.06
-195.75
-1.51%
Nasdaq
2,906.72
-43.76
-1.48%
S&P 500
1,343.49
-20.84
-1.53%
EUR/USD
1.3109
-0.0106
-0.80%
10-Year Bond
1.934
-0.071
-3.54%
Gold
1,669.00
-34.90
-2.05%
Oil
104.57
-2.15
-2.01%
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There are no gun free zones where free men tread.
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Savingsaretheway
Posts: 118
Incept: 2011-12-16
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Spain is probably the next one to watch. Its 10 yr yield has remained range bound in 2012, but there has been some volatility there.
Regarding today's market reaction, can anyone explain why the Yen, not the dollar, has been behaving like the world reserve currency every time there is extreme fear over Europe? It's something I've observed since last Summer.
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Landshark
Posts: 11247
Incept: 2008-02-07
The Wild West
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Yep, looks like a definite face-plant in the markets. Rally time.
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Success in life is a matter not so much of talent and opportunity as of concentration and perseverance.
– C. W. Wendte
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Curious1
Posts: 440
Incept: 2008-03-22
Oregon
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This is nowhere close to being "over".
They won't give up that easily.
It will be over when interest rates rise and that could be years away. They need to put more at risk and make many more mistakes before this is over. This is just the prelude to the foreward which is before the introduction and well before chapter 1. They will do some even crazier and stupid stuff before its "over". Don't underestimate their arrogance, greed, and stupidity.
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Margincalltime
Posts: 1025
Incept: 2008-04-01
NJ
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Gen- Then if you expect the US to default on this path, then why do you insist on holding cash as your primary wealth preservation vehicle? Just curious.
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4geez
Posts: 101
Incept: 2010-02-10
Florida
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What Curious1 said.
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Muscleknight
Posts: 3986
Incept: 2007-06-26
Columbia, SC
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If this collapses like I think it will, cash won't be worth anything either.
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Truthseeker
Posts: 8474
Incept: 2007-10-07
NorCal
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At some point that well may be true, Muscle. Which is why for the past six years we've consistently recommended the acquisition of tools, materials, and basic skills. THAT investment will deliver in a "collapse". And if said collapse never happens, you have useful stuff. No downside.
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"...But people better realize that the worst-case scenario could actually happen.9/11 happened. This can happen. An economic 9/11, the likes of which we've never seen." Gerald Celente
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Cjworkman
Posts: 7948
Incept: 2007-08-22
Banned
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if even 1 large bank is overexposed to Greek CDS, we could start a derivitive rube golberg machine.
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Curbyourrisk
Posts: 3588
Incept: 2008-08-19
Farmingdale, NY
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Time is indeed UP.
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Time is up.
I hate to burst your bubble, but there is no Santa Claus, the tooth fairy does not exist and American justice does not involve the courts.
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Tank
Posts: 440
Incept: 2007-12-14
Seattle Area
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Yes, it will start a heard mentality. Why would a government face the wrath of its people via austerity when Greece gets away with defaulting?
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"A danger foreseen is half avoided." -Thomas Fuller (1608-1661)
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Mannfm11
Posts: 3536
Incept: 2009-02-28
DFW, Tx
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swingtrader wrote..Slow-motion train wreck No, we are merely watching the skid down the hill for now. When the wreck happens, the cars will pile up fast. For one, the ECB has done two LTRO's for about $1.3 trillion. Second, they have propped the debt of Italy, Spain and Portugal by buying it in the secondary market and by making these loans. In doing so, they have made their claims superior to those of the private sector, meaning if you get caught with debt in these countries, you are going to bear all the negotiated loss. The ECB has filled up with junk. Here is a rub on this topic I read last night. In so many words, the Euro is toast. What the LTRO is doing is giving the banks of the various countries the money to buy the debt of their own country. Thus, the refunded debt is being moved off the books of the banks that created the mess in the first place and put on the balance sheets of the banks in the countries that are going broke. Remember, all paper is make believe, especially sovereign debt, the purpose of which is merely to redistribute income to banks. Thus, once the vast majority of the Italian debt is out of the French banks and on the balance sheets of the Italian banks, Italy can pull out of the Euro and merely change the symbol of their debts. Ditto Spain and maybe Ireland. The ECB can cancel the fictional loans they made, keep the collateral and go on. Pretty smooth trick if it works. Bankers +1, People, -1000
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The only function of economic forecasting is to make astrology look respectable.---John Kenneth Galbraith
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Bangkokian
Posts: 40
Incept: 2010-09-17
Bangkok
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You had me until "Times up!", Karl.
It was overwhelmingly obvious that the Soviet Union was ****ed early in the game. But anyone waiting for the collapse was likely pushing up daisies by the time it happened.
"The end is nigh" makes for good rabble-rowsing, but it's seldom correct -- until of course it is. But you seem to be calling that time, here and now.
Unlikely.
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Mannfm11
Posts: 3536
Incept: 2009-02-28
DFW, Tx
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Tank, I believe Greece has to attempt to stay in the Euro. I don't believe a Greek money would have any purchasing power outside of Greece any greater than if it was on a toilet paper roll. I believe it was Mauldin who posted something a guy he knows wrote on this subject and I agree pretty much on what the guy said was the solution. Greece is going to have to find a way to hold onto their Euros and dollars or they have no means of adjustment, as they aren't self sufficient at this time in food and other important commodities and have little to export other than tourism. I would have to believe a country that is in civil war or people are starving wouldn't be much of a tourist attraction, though I think there is a nice resort or 2 on Haiti.
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The only function of economic forecasting is to make astrology look respectable.---John Kenneth Galbraith
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