And you OWE IT ALL to Goldman Sachs, world!
Reaching out to fellow Europe:
"Greece, Portugal hit with debt downgrades; S&P’s decisions fuel bigger fears of a meltdown" by Nicholas Paphitis and Pan Pylas, Associated Press | April 28, 2010
Protesters decried the Greek government’s austerity measures outside Parliament, but Germany is pressing Greece to do more. (Aris Messinis/ AFP/ Getty Images)
Once again, you will not read of protesters in print.
They must not be illegal immigrants.
ATHENS — The ratings agency Standard & Poor’s pushed Greece to the brink of a financial abyss yesterday and downgraded Portugal’s debt, too, fueling fears of a continent-wide debt meltdown in Europe.
And with it the globalist plans for global government.
Stocks around the world tanked when Greek bonds were lowered to junk status and investors saw Greece’s financial contagion was spreading to at least one other eurozone country.
Related: Greece, Portugal downgraded; market shudders
Major European exchanges fell more than 2.5 percent. On Wall Street, the Dow Jones industrial average closed 213.04 points lower. The euro slid more than 1 percent.
“We have the makings of a market crisis here,’’ said Neil Mackinnon, of VTB Capital.
$60 BILLION still was not enough, huh?
Greece is struggling with massive debt, and with prospects for economic growth weak, it could end up in default.
Pay attention, America.
Its 15 eurozone partners and the International Monetary Fund have tried to calm the markets with a nearly $60 billion rescue package. Standard & Poor’s warned that holders of Greek debt could take large losses in any restructuring, but a greater worry is that Greece’s debt crisis is mushrooming to other debt-laden members of the eurozone.
WHO GIVES a F*** if BANKS TAKE a LOSS?
One bailout can be dealt with but two will be stretching it, and there are fears that other weak economies could be pulled down — including Europe’s fifth-largest, Spain.
Yeah, folks, this is SERIOUS -- which is why I wonder why it is on page B9 of the business section.
The crisis threatens to undermine the euro and make it more expensive for all eurozone governments to borrow money. It has also disrupted cooperation between eurozone governments....
The death of global government right in front of you. If they can't do Europe, they can't do anywhere.
Many investors think Greece will have enough money to avoid default in the coming weeks, but the future is cloudier. Both Standard & Poor’s and the Greek finance ministry insisted the country will have enough money to make the $11.2 billion bond payments due May 19. Even if it does, Greece faces years of austerity, with living standards sharply reduced.
That is why the MISSING in PRINT PROTESTERS are OUT in the STREETS!
Standard & Poor’s warned that the Greek economy was unlikely to be as big as it was in 2008 for another decade. Losing investment-grade status for its bonds means that Greece will have to pay higher costs to borrow if it taps debt markets again, and increases the chances that existing debt will have to be restructured.
Talk about a band of blood-sucking vampires.
“The latest developments mean that the chances of Greece solving this situation without restructuring its debts are now dim,’’ said Diego Iscaro, senior economist at Lexington, Mass.-based IHS Global Insight.
Germany’s chancellor, Angela Merkel, reiterated her position that Greece should conclude negotiations with the IMF and European Union about austerity measures before receiving the international loan package. Merkel said it is appropriate to tell Greeks: “You have to economize, you have to become fair, you have to be honest; if not, nobody can help you,’’ according to the German news agency DAPD....
When you find a GOVERNMENT IS please let me know.
Greek and Portuguese stocks were pounded — down 6.7 percent and 5.4 percent, respectively — while their borrowing costs went through the roof. The interest rate for Greek two-year bonds jumped to a massive 18 percent....
Related: Municipal Bond Milking
With an 18% interest rate and government guarantees they sure do look attractive!
Both the Portuguese and Greek governments responded with alarm to the downgrades.
“This decision will not help markets to calm down, but will, on the contrary, contribute for their turbulence,’’ Portuguese Finance Minister Fernando Teixeira dos Santos said.
And that is exactly what happened.
Greek finance minister George Papaconstantinou said that the downgrade “does not reflect the real state of our economy . . . ’’
Papaconstantinou said Greece will pull through.Ever hear the story of the old man and the sea?
--more--"
And you should TAKE HEED, AmeriKa!!!
The GREECE FIRE can EVEN SPREAD ITSELF OVER OCEANS!!!!
"Obama appoints panel to tackle national debt; Bipartisan group motivated by Greece’s trouble" by Lori Montgomery, Washington Post | April 28, 2010
WASHINGTON — A presidential commission convened yesterday at the White House to address what leaders of both parties agree is one of the greatest threats to the country’s economic future: the rising national debt.
Official forecasts suggest that without sharp cuts in federal spending or increases in tax collections, the United States could enter into a downward spiral of indebtedness that by the end of this decade would erode the country’s ability to educate its children, care for the elderly, or mount a robust national defense.
That is why you are getting a health tax and carbon tax and all the other taxes -- all so you can pay for service cuts America!!
And then they toss in national "defense" -- as if that is what it was and the wasting of TRILLIONS over lies was INCONSEQUENTIAL!
Go ahead, SEE what has to TAKE the CUTS in the FUTURE!
“This is going to require people of both parties to come together and take a hard look at the growing gap between what the government spends and what the government raises in revenue,’’ President Obama said, standing in the Rose Garden with the leaders of the bipartisan commission. “And it will require that we put politics aside — that we think more about the next generation than the next election. There is simply no other way to do it.’’
This from the guy who is BORROWING US INTO OBLIVION for STIMULOOT and other WASTEFUL, AGENDA-PUSHING PROJECTS!
******
But
I'm a rich man after today's posts, aren't I?
with the two parties feuding over health care overhaul, Wall Street regulation, and a host of other issues — and the economy still uncertain after a deep recession — there is considerable doubt that they could join hands to fend off a still-distant potential crisis.
Related: GOP ends stall of financial regulation bill
I'm so sick of BS MSM and BS POLITICS!!!!!!!!!
“It would take a miracle,’’ said Senate majority whip Richard Durbin, an Illinois Democrat. “But I believe in miracles.’’
Looks like he JUST GOT ONE; however, there have been a lot of them lately!
Related: God Throws Ash Into the Gears of the War Machine
God Turns Gulf of Mexico Into Gulf of Oil
Anyone listening?
**************
Panel members from both parties say the recent experience of Greece, deeply in debt and begging other countries to help pay its bills, provides a vivid incentive to set aside ideological differences and work together.At the very least, the Commission on Fiscal Responsibility and Reform will mark the beginning of a national conversation about the role of government in American society.
I don't think I'm going to like what comes next because that statement is SO OFFENSIVE from government and MSM when THAT IS WHAT WE HAVE BEEN DOING for FOUR YEARS HERE!!!!
Social Security, Medicare, and Medicaid — popular programs that guarantee income support and universal health coverage to people older than 65 — are growing faster than tax revenue as medical costs rise and the population ages.
Yeah, right, it is the SOCIAL PROGRAMS YOU NEED that is BUSTING the BUDGET, America!
What a FUCKING CROCK OF SHIT, sorry!!!!!!!!!
Yeah, the TRILLIONS for EMPIRE, ISRAEL, and CORPORATIONS is OFF LIMITS!!!!
And WHAT ARE THEY TALKING ABOUT?
We JUST GOT a NATIONAL HEALTH TAX, 'er, BILL that is supposed to TAKE CARE of ALL OF US!!!!
In the coming decades, the three programs are forecast to dwarf all other spending and force the Treasury to borrow to keep them afloat.
I hate going to bed angry!!!
That crisis seemed distant until the recession hit, causing tax collections to tank and federal spending to increase. The public debt is forecast to rise from less than 40 percent of the economy to more than 60 percent by the end of this year, its highest level since 1952. The debt will hit 90 percent by 2020 under Obama’s budget, according to the nonpartisan Congressional Budget Office, a level last seen in the aftermath of World War II. Meanwhile, the CBO forecasts that interest payments will rise from less than $200 billion a year to more than $900 billion.
Yup, a TRILLION DOLLARS in INTEREST ALONE, AmeriKa!!
And with NO END in sight to EXPANDING GOVERNMENT, your NATION is on LIFE-SUPPORT!
Related: The Trillion-Dollar Interest Payment
I guess it will be OVER a trillion in a few more months.
Research by economists Carmen Reinhart of the University of Maryland and Kenneth Rogoff of Harvard University has found that public debt in excess of 90 percent of the economy is often the tipping point at which nations lose the confidence of their creditors and tumble into crisis.
And Greece is at 115.
Goodnight, and GOODBYE, America!
