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Thread: Economic Crisis in Greece - Financial Crisis

  1. Quote Originally Posted by Szise View Post
    Well if you ask me... when you have 1.000 - 2.500 euros a month and pay 2 euros for a coffee is not crisis, crisis is when you have 200-300 euros a month and pay 2 euros for a coffee.
    Is not crisis when you have 1.000 euros / month and pay 300 euros to rent an apartment, crisis is when you have 200-300 euros a month and must pay 200 for an apartment.
    Crisis in not when you can buy a nice car in 6 months, crisis is when you must wait more than 5 years to buy a second hand car.
    Americans aren't used to that kind of hardship. It hasn't happened in our lifetimes. The current generation and the one before that are living off the hard work and savings of generations of Americans before us.

    Frankly, I think this sudden dose of reality is going to lead to blood in the streets.
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  2. #12
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    European Investment Bank rejects possible Greek bailout
    http://finance.yahoo.com/news/EU-gov...83964.html?x=0

    Quote Originally Posted by Will.Spencer View Post
    Americans aren't used to that kind of hardship. It hasn't happened in our lifetimes. The current generation and the one before that are living off the hard work and savings of generations of Americans before us.

    Frankly, I think this sudden dose of reality is going to lead to blood in the streets.
    As long as people are willing to accept dollars, there isn't a crisis. 1 in 8 Americans are currently on food stamps. Even 25% won't make a difference. The day that people decide that it isn't a good idea to bank the dollars. Then the crisis hits us. Because, people start to raise prices. So, no matter how much money the government gives you, you can't buy enough of what you need.

    Quote Originally Posted by Szise View Post
    Well if you ask me... when you have 1.000 - 2.500 euros a month and pay 2 euros for a coffee is not crisis, crisis is when you have 200-300 euros a month and pay 2 euros for a coffee.
    Is not crisis when you have 1.000 euros / month and pay 300 euros to rent an apartment, crisis is when you have 200-300 euros a month and must pay 200 for an apartment.
    Crisis in not when you can buy a nice car in 6 months, crisis is when you must wait more than 5 years to buy a second hand car.
    There's an old say that we are in a recession when a neighbor loses his job. When you lose your job, we are in a depression.

    Crisis is when you have have 1.000 - 2.500 euros a month and a cup of coffee costs 20 euros.

    Crisis is when you have have 1.000 - 2.500 euros a month and you must pay 2000 euros for rent.

  3. Quote Originally Posted by bogart View Post
    As long as people are willing to accept dollars, there isn't a crisis. 1 in 8 Americans are currently on food stamps. Even 25% won't make a difference. The day that people decide that it isn't a good idea to bank the dollars. Then the crisis hits us. Because, people start to raise prices. So, no matter how much money the government gives you, you can't buy enough of what you need.
    Americans will end up like this guy, heading to the grocery store...

    Except then the government will use that as an excuse to do away with paper money altogether and replace it with trackable cash cards...
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  4. #14
    Just another reason to buy gold and silver bullion coins After you buy your ammunition and backup weapons of course...

  5. #15
    Quote Originally Posted by javanx3d View Post
    Just another reason to buy gold and silver bullion coins After you buy your ammunition and backup weapons of course...

    If the US governement decide to sell some of their 16,267,000 pounds (8,133.5 metric tonnes) of gold, I don't think that gold will keep his actual value.

    Like any market, the value is based on the buying and selling.
    Those who can make you believe absurdities can make you commit atrocities.

    Voltaire


  6. #16
    Quote Originally Posted by Will.Spencer View Post
    Americans aren't used to that kind of hardship. It hasn't happened in our lifetimes. The current generation and the one before that are living off the hard work and savings of generations of Americans before us.

    Frankly, I think this sudden dose of reality is going to lead to blood in the streets.
    Before it goes to lead blood in the streets, you will have WWIII, just like it was before WWII.
    Those who can make you believe absurdities can make you commit atrocities.

    Voltaire


  7. #17
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    A collapse Greece is still possible. I think that it is a difficut decision for France, Netherlands and Germany to bail out the PIGS. I was watching something on Fox that air traffic controllers are making $500,000 in Spain and some are making $800,000. No wonder they are going broke.

    Quote Originally Posted by Will.Spencer View Post
    Americans will end up like this guy, heading to the grocery store...
    Except then the government will use that as an excuse to do away with paper money altogether and replace it with trackable cash cards...
    It's kind of tricky. The only way out is to inflate. The US can't even afford the interest on the national debt. The questions are how much the dollar is devalued and whether the government freezes spending after the devaluation.

    In reality the US has been in double digit inflation probably since 2002. In 1986 the way way inflation is calculated was changed. The cost of rent replaced the cost of a home.

    Quote Originally Posted by javanx3d View Post
    Just another reason to buy gold and silver bullion coins After you buy your ammunition and backup weapons of course...
    The Dollar is actually more useful in the short term to to assest devaluations.
    Quote Originally Posted by Natural Elements View Post
    If the US governement decide to sell some of their 16,267,000 pounds (8,133.5 metric tonnes) of gold, I don't think that gold will keep his actual value.
    Like any market, the value is based on the buying and selling.
    The US may need to give some of that gold to China for all the money that they are lending us.

  8. #18
    Yeah you're right szise! We should not put much toll on it. If you are privileged enough to own a house or even a room, then you have no right to complain as against the millions out there who continue living in swamps and yet find the place comfortable enough to live.

  9. #19
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    Quote Originally Posted by islabucasgrande View Post
    Yeah you're right szise! We should not put much toll on it.
    The big issue is that we are consuming more than we produce which is why we have a crisis.

    Quote Originally Posted by islabucasgrande View Post
    If you are privileged enough to own a house or even a room, then you have no right to complain as against the millions out there who continue living in swamps and yet find the place comfortable enough to live.
    A least its your swamp and no one is going to take it away from you.

    The average person that owns a home in the big US States in paying $1000 a month or more in property taxes. They may own their home now. But as soon as the person doesn't pay the property tax the Government will seize the home and sell it.

  10. Quote Originally Posted by bogart View Post
    The big issue is that we are consuming more than we produce which is why we have a crisis.
    Yes!

    Very few people seem to understand this.

    The problem with socialism is that you eventually run out of other people's money.

    Quote Originally Posted by bogart View Post
    A least its your swamp and no one is going to take it away from you.
    The average person that owns a home in the big US States in paying $1000 a month or more in property taxes. They may own their home now. But as soon as the person doesn't pay the property tax the Government will seize the home and sell it.
    I think a lot these days of Thoreau's statement, "Under a government which imprisons any unjustly, the true place for a just man is also in prison."

    We've been going in a bad direction for a long time and it feels that in 2009 we crossed a tipping point.

    In the U.S., you can't go to jail for debt -- unless that debt is to your ex-wife or the IRS. I think we're going to see a lot more people in debtors prison in the next few years.
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