Greece is FUBAR

Discussion in 'Economy' started by TakeAStepBack, May 16, 2012.

  1. TakeAStepBack
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    TakeAStepBack Gold Member

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    Has the Greek Bank Run Started?

    Has The Greek Bank Run Started? | ZeroHedge



    Why We Are Going To See Bank Runs Happening All Over Europe (NYSEARCA:XLF, NYSEARCA:FAS, NYSEARCA:FAZ, NYSEARCA:EWP, NYSEARCA:EWI, NYSEARCA:FXE, NYSEARCA:VGK, NYSEARCA:EWG) | ETF DAILY NEWS

    Why We Are Going To See Bank Runs Happening All Over Europe (XLF, EWP, EWI, FXE, VGK, EWG, FAZ, FAS)



    it was only a matter of time. But we knew this was coming. Fiat money never stands the test of time. Tic toc goes the clock.
     
    Last edited: May 16, 2012
  2. Katzndogz
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    Katzndogz Diamond Member

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    Part of the reason for the financial collapse in Greece is that as the nanny state grew, the business class was taxed at higher and higher rates. Some business left. Those that stayed made cheating on taxes and not paying any taxes an art form.
     
  3. TakeAStepBack
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    TakeAStepBack Gold Member

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    That's part of it. They also have a huge socialist society with perks never paid for by govt. Which is how it always happens and the reason socialist programs don't work. Though, the root of it all is the fiat money. No country, no person, economy, can print their way to wealth. it's a mathematical and economic fact.

    Fiat money always fails. This is the beginnning of the end of the Euro and could trigger a much more pervasive global capital market deterioration.
     
  4. TakeAStepBack
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    TakeAStepBack Gold Member

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    On a more positive note, I read this morning that China took up buying our debt again like it's going out of style. :lmao:
     
  5. waltky
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    waltky Wise ol' monkey Supporting Member

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    Granny says it was a bad idea from the start...
    :eusa_shifty:
    Eurozone set-up unsustainable, says Draghi
    31 May 2012 : Mr Draghi said the ECB could not fill the vacuum caused by lack of action from governments

     
  6. starcraftzzz
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    starcraftzzz Senior Member

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    ROTFL the reason Greece is fucked is because it has something similar to a gold standard
    but no one expects you do think or do anything intellgent
     
  7. starcraftzzz
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    starcraftzzz Senior Member

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    Except America GB Japan, Argentina, Belarus etc etc. I realize that all you can do is reguritate things you hear from Glenn Beck but reality is something difference
     
  8. starcraftzzz
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    starcraftzzz Senior Member

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    Well if you look at the data buinses taxes declined slightly in Greece.. but dont let reality get in the way of your stupiddiy
     
  9. Big Black Dog
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    Big Black Dog Gold Member Supporting Member

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    Greece is the word.....
     
  10. sparky
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    sparky VIP Member

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    Tsipras promised to boost the minimum wage, hike taxes on the rich and freeze a major privatization drive designed to raise $24.2 billion, a key condition of its bailout deal. He also pledged to "nationalize and socialize" Greek banks

    Greek Leftists Lead Poll; Vow to Kill Bailout, Nationalize Banks | Common Dreams

    well, this should prove an interesting turn of events to watch and learn from

    ~S~
     

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