Economy

Turbineguy

(37,313 posts)

4. This makes a lot of sense.

Sun Dec 18, 2011, 02:57 PM

Dec 2011

The Eurozone people are trying to do something to fix the problem. Whether or not they will succeed is unknown. The Money Boys on Wall Street and The City do not want change. They are far too dependent on their derivatives and hedge algorithms. Therefore everything has to be blamed on the Eurozone.

But realistically, where is the worse credit risk? The Greeks who owe 500 billion and actually have an economy, or the US and UK banks who own 600 trillion in derivatives that are completely fake assets?

This may also explain why the Euro has pretty much held onto the $1.30 exchange rate.

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9 replies

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Highlight:

LEAP/E2020: Global systemic crisis – USA 2012/2016: An insolvent and ungovernable country [View all] Ghost Dog Dec 2011 OP

Good read. I especially liked these two footnotes Owlet Dec 2011 #1

K&R Odin2005 Dec 2011 #2

Doom and Gloom K&R nt.. Bigmack Dec 2011 #3

This makes a lot of sense. Turbineguy Dec 2011 #4

This article points out negative conditions here in the U.S. that most people here already know. amandabeech Dec 2011 #5

Would that US be "Ungovernable" Mean that Goldman Sucks would be burnt to ground? Demeter Dec 2011 #6

Totally agree! prepperdad Dec 2011 #7

I don't think Euroland is going to do any better than the UK or US magical thyme Dec 2011 #8

and which is it? magical thyme Dec 2011 #9