Greece exit appears inevitable

Discussion in 'Politics' started by jsgr79, Feb 25, 2012.

  1. jsgr79
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    jsgr79 Rookie

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    If the key to the cure lies in the diagnosis, then a solution to the euro zone crisis may be close at hand.

    This week - thanks to research by the hedge fund manager Boaz Weinstein - an uncanny correlation has been established between the percentage of Greek men still at home with their parents and the price of five-year credit default swaps.

    These swaps are derivative instruments that insure the holder against a nasty credit event such as being chucked out of the euro zone in the aftermath of an irretrievable breakdown in political negotiations.

    As you can see from the accompanying chart, the percentage of men between the age of 25 and 34 living at home with their parents is also high in Portugal, Italy and Spain. In fact, it more or less mirrors the economic plight of each nation: the more men still living with their parents, the higher the risk of that country's sovereign debt.
     
  2. editec
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    editec Mr. Forgot-it-All

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    Interesting correlation but let's not confuse an association with the causation


    Men staying home with their parents is more likely a symptom of a stressed economy than the cause of it.

    .
     
  3. Neotrotsky
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    Neotrotsky Council to Supreme Soviet

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    Greece

    The failures of 20th century progressivism,
    coming home to roost
     
  4. JimBowie1958
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    JimBowie1958 Old Fogey

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    Hmmm, could it possibly be that 'bad economy' = 'high unemployment' = 'men at parents home'?

    Greeces problems got out of hand when the government agreed to assume the private bankers debts. The bankers deliberately misrepresented what they knew would be growing debts as static obligations that got so bad so fast that each time they asked for a bailout the numbers they used to pitch the bail out were already out of date.

    The private banks ruined Greece's budget which exploded with debt and now people who dont know any better are blaming lazy Greeks?

    And dont laugh at them too much because we have it about to happen here as JP Morgan and BoA both have together more than $154 TRILLION in dirivitive contract exposure in Europe. If the EMU collapses, these two banks will be out of business. A few months ago they both moved their bank operations that run the dirivitive contracts over to their FDIC protected portion of their bank, and this was with Federal Reserve approval.

    http://www.bloomberg.com/news/2011-...-moving-merrill-derivatives-to-bank-unit.html

    http://spiritofjubilee.com/debt/rec...-75-trillion-of-bank-of-as-derivatives-trades


    So what you are seeing in Greece today is the US in 2014 unless something happens PDQ to set things right.

    And just as an aside:
    http://www.ktradionetwork.com/tag/bank-of-america/

     
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    Last edited: Feb 26, 2012
  5. Neotrotsky
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    Neotrotsky Council to Supreme Soviet

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    Of course, Leftist policies with their nanny state programs
    have prolonged Adolescence and delayed the need to "grow up"
     
  6. JimBowie1958
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    JimBowie1958 Old Fogey

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    More like the 'Failures of the People to Monitor the Thieves in Charge'.
     
  7. JimBowie1958
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    JimBowie1958 Old Fogey

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    That is the core principle of most Democrat domestic programs today.

    My grandfather was a Union shop steward and life-long democrat and he told me before he died that the success of the unions depended on everyone doing their jobs to the best of their ability.

    Obviously that spirit died along time ago.
     
  8. iamwhatiseem
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    iamwhatiseem Gold Member

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    Wait...I thought Greece was OK again?
    Monday they were on the brink of collapse, but then Tuesday they were better...Wednesday was bad again...I don't remember what shape they were in Thursday...but then I thought Friday the news said they were OK again?

    Or was that last week. :eusa_eh:
     
  9. konradv
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    konradv Gold Member

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    ...or long-standing cultural tradtion, where people stay home until they're married.
     
  10. bitterlyclingin
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    bitterlyclingin Silver Member

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    Funny, we have almost the same chart of unmarried men still living at home with their parents in the US of A, and Barry O is telling everyone that the three worst years out of the last fifty have been exactly the same years as he has been president. Correlation there, or coincidence?

    Weasel Zippers » Blog Archive » Obama: The “Toughest Three Years This Country Has Gone Through” Over Last 50 Years Just Happen To Be The Same Three Years I’ve Been President…

    Bonus: Barry O complaining about the high price of gas under GWB;
    Weasel Zippers » Blog Archive » Flashback: Obama Complains In 2008 Campaign Ad About Paying $3.50 For Gas…
     

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