A little hot stock tip for you guys. Go long Greek gas stations and grocery stores as soon as you can. These place are doing some major business right now.
Greek Q2 GDP Surging
- Thread starter ChrisVarick
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The markets crash tomorrow (Monday). Already happening in Asia.
The shame is that Greece tried to negotiate for so long when it was clear that the European banks only want blood.
Things should get very interesting. Good luck timing this one.
The shame is that Greece tried to negotiate for so long when it was clear that the European banks only want blood.
Things should get very interesting. Good luck timing this one.
I hope we don't have our eyes set on the same island. Wouldn't want a bidding war.
the greek banks are gonna be closed all week they say, I wonder how many of them invested in bitcoin or gold or something
The banks want blood? They aren't even asking for their money back. They just don't want to lend anymore.
Greek markets (I think) are closed the rest of the week until the referendum vote next weekend. This will be interesting to watch unfold. Keep in mind Tsipras was voted in because of the public's majority anti-austerity stance - the Greeks are as stupid as us, apparently. Anyway, should Tsipras negotiate, he loses credibility. However, this week with banks shut, withdrawal limits of EUR 60 per day, and a bit of chaos in society... well, it is just giving the Greeks a taste of what a "Grexit" might be like. So, perhaps the Greeks will vote against Tsipras this time, and there will be a new election (most likely Tsipras would ask for one since it would be clear the population no longer supports his stance and why the hell would he want to try to fix things then) in which case the can gets further kicked down the road and austerity round 2 happens.
So if we don't have any problems, then why do we have problems? We are trillions in debt, the 1% has most of the money, we just had a recession, that required 100's of billions to bail us out(supposedly), another housing bubble is already forming, we are intertwined enough into the world market, that what happens in one area, will affect us.
Please explain this Ciggy. You always say this #$#$, but you never have anything to back it up with.
The crisis in Greece now has the full attention of investors around the world -- and they don't like what they see.
European markets were hammered early Monday morning, with both the German DAX and French CAC opening 4.4% lower. Portugal's stock market was down nearly 6%, while Britain's FTSE fared better, shedding only 2%. Those losses were trimmed by late morning.
European bank stocks were particularly hard hit. Spain's Banco Santander (BCDRF) gave up 5.7% in early trading, while French bank Credit Agricole (CRARF) lost 6.7%.
"While Greece is the weakest member of the euro and might not have the largest economy by any means, the global implications to Greece failing to repay its debts remain largely unknown and this is why worldwide indices will continue facing downside pressures," noted FXTM chief market analyst Jameel Ahmad.
http://money.cnn.com/2015/06/28/investing/greece-market-reaction/index.html
European markets were hammered early Monday morning, with both the German DAX and French CAC opening 4.4% lower. Portugal's stock market was down nearly 6%, while Britain's FTSE fared better, shedding only 2%. Those losses were trimmed by late morning.
European bank stocks were particularly hard hit. Spain's Banco Santander (BCDRF) gave up 5.7% in early trading, while French bank Credit Agricole (CRARF) lost 6.7%.
"While Greece is the weakest member of the euro and might not have the largest economy by any means, the global implications to Greece failing to repay its debts remain largely unknown and this is why worldwide indices will continue facing downside pressures," noted FXTM chief market analyst Jameel Ahmad.
http://money.cnn.com/2015/06/28/investing/greece-market-reaction/index.html
http://www.nytimes.com/2015/04/09/business/international/explaining-the-greek-debt-crisis.html?_r=0
How did Greece get to this point?
Greece became the epicenter of Europe’s debt crisis after Wall Street imploded in 2008. With global financial markets still reeling, Greece announced in October 2009 that it had been understating its deficit figures for years, raising alarms about the soundness of Greek finances.
Suddenly, Greece was shut out from borrowing in the financial markets. By the spring of 2010, it was veering toward bankruptcy, which threatened to set off a new financial crisis.
To avert calamity, the so-called troika — the I.M.F., the European Central Bank and the European Commission — issued the first of two international bailouts for Greece, which would eventually total more than 240 billion euros, or about $264 billion at today’s exchange rates.
The bailouts came with conditions. Lenders imposed harsh austerity terms, requiring deep budget cuts and steep tax increases. They also required Greece to overhaul its economy by streamlining the government, ending tax evasion and making Greece an easier place to do business.
How did Greece get to this point?
Greece became the epicenter of Europe’s debt crisis after Wall Street imploded in 2008. With global financial markets still reeling, Greece announced in October 2009 that it had been understating its deficit figures for years, raising alarms about the soundness of Greek finances.
Suddenly, Greece was shut out from borrowing in the financial markets. By the spring of 2010, it was veering toward bankruptcy, which threatened to set off a new financial crisis.
To avert calamity, the so-called troika — the I.M.F., the European Central Bank and the European Commission — issued the first of two international bailouts for Greece, which would eventually total more than 240 billion euros, or about $264 billion at today’s exchange rates.
The bailouts came with conditions. Lenders imposed harsh austerity terms, requiring deep budget cuts and steep tax increases. They also required Greece to overhaul its economy by streamlining the government, ending tax evasion and making Greece an easier place to do business.
Greece playing chicken with a brick wall. If the EU forgives more Greek debt, Spain, Portugal and others will ask for the same treatment. Then the EU has a real problem.A little hot stock tip for you guys. Go long Greek gas stations and grocery stores as soon as you can. These place are doing some major business right now.
Any comparison with Greece reveals an ignorance of international finance. We have our own sovereign currency and can issue as much of it as we want. As part of the Eurozone, Greece does not. Our debt is not at all out of line in relation to the size of our economy, and the majority of it is to ourselves. Until recently, at least, other nations have been paying us to take their cash, the US is such a sound investment in relation to the rest of the world.
This is Bernie Sander's socialism unfolding before your eyes......retire when you're 42.....spend, spend.....politicians' promises....the direction Democrats want to take us.
http://www.foxnews.com/world/2015/0...bank-lines-grow-amid-greece-financial-crisis/
Greece has been playing games all along. Why can't they do what Ireland did and just clean up their act?
Because they were too stupid to control their spending and the banks whom now practically own them, aren't taking no for an answer.
We can certainly issue a
This is Bernie Sander's socialism unfolding before your eyes......retire when you're 42.....spend, spend.....politicians' promises....the direction Democrats want to take us.
http://www.foxnews.com/world/2015/0...bank-lines-grow-amid-greece-financial-crisis/
Standing in line to get their €60 per day.
What's happening in Greece is exactly what will one day be our problem. Greece is owned by the banking system, and that banking system is coming to collect, One way or another Greece is going to have to find a way to either quit spending so much, or simply take it in the rear like it appears that they are going to have to do. The banks aren't lending money, and nothing can force them to do it anymore.
This is exactly what happens when you rely on Central banking to continually bail you out, for over spending, and reckless fiscal behavior
This will have an effect on the global economy as a whole, hopefully not a huge one, but it will still have an effect. Every market in the world took a hit today, some more than others.
If you really believe that these problems can't hurt us, than you have not paid attention to history very well. It all starts with a small problem..and boom. Here comes a depression, or recession, or a crash, etc.
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