Reply #51: I agree that Greece could default.. [View All]

[girl gone mad]

I was in Greece a few months ago and spoke with friends about the country's economic picture. It is quite an interesting place, full of political and social turmoil but in a much more polite and reasoned manner than in the US, where the HC town halls turned to scream fests and the dopey Sarah Palin is considered a serious political contender.

Much trouble still looms, we are not out of this solvency crisis, by any means.

I would say that California poses a more immediate threat at the moment than the US as a whole and other states are not far behind. I am waiting for the dollar carry trade to unwind (yes, I'm a believer) and who knows what will come next. Default may be inevitable, but it is still years away.