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Greece closing banks tomorrow, not looking good for another bailout

UNC71-00

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Feb 25, 2003
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How is this going to impact our domestic economy? It appears not much, but would like to hear from anyone who is following this at all.
 
Market is down today, but more from concern and not a direct result of, IMO.

Not sure how it will ripple though, depends on how it affects the bigger economies in Europe first.
 
Market is down today, but more from concern and not a direct result of, IMO.

Not sure how it will ripple though, depends on how it affects the bigger economies in Europe first.
The euro is getting slammed. My wife and I was in Spain a few weeks ago and the euro was worth $1.18 this morning it's trading at $.89....
 
The whole western economy is a house of cards built on debt, financial gimmicks and shell games etc. With all the computer stuff and "financial instruments" nobody can really track what's going on. The more systems that are built to handle complexity the more complexity there is. A lot of financial sector doesn't even know where a lot of money/debt is (see excellent movie "Margin call" ). Business people rely more and more on computer "models" they don't understand and they end up wrong (they were a factor in 2008 meltdown). The computer people cant keep up with the business/legal changes, acquisitions, cyber attacks etc. Things are waaaaay too complicated to monitor and keep under control. Heck NATO countries aren't even making their minimum % of GDP quotas put they want to poke Russia and others in the eye. Civilizations end ugly. Wealth/asset exhaustion, complexity, pronounced self interest etc are symptoms. We have all the signs merging in a cascade.
 
The whole western economy is a house of cards built on debt, financial gimmicks and shell games etc. With all the computer stuff and "financial instruments" nobody can really track what's going on. The more systems that are built to handle complexity the more complexity there is. A lot of financial sector doesn't even know where a lot of money/debt is (see excellent movie "Margin call" ). Business people rely more and more on computer "models" they don't understand and they end up wrong (they were a factor in 2008 meltdown). The computer people cant keep up with the business/legal changes, acquisitions, cyber attacks etc. Things are waaaaay too complicated to monitor and keep under control. Heck NATO countries aren't even making their minimum % of GDP quotas put they want to poke Russia and others in the eye. Civilizations end ugly. Wealth/asset exhaustion, complexity, pronounced self interest etc are symptoms. We have all the signs merging in a cascade.

Some guys see the glass half full. Others see it half empty. I'm betting you're a half-empty kind of guy, Saran.
 
Some guys see the glass half full. Others see it half empty. I'm betting you're a half-empty kind of guy, Saran.

I haven't been drinking anything and don't have a glass. I know history and as Will Durant said "Great civilisations don't die - they comitt suicide".

Everyday we see articles about the danger of EMP blasts (and congressinal , military leaders etc said they were a real threat), about ISIS coming over broken borders, about "unsustainable" debt and spending, endless cyber crimes involving millions of people, a nuclear escalation being provoked in Mid East by Obama, diseases like Ebola being allowed over border (alongh with ISIS, cartels etc) and yet the Media and admin have us focused on cross-dressing, boy-boy marraige, rising temps 50 years from now and old trinkets from the Civil War. Any day now the fantasy world Americans have been dumbed down on is going to start to unravel. Something "small" like Greece could always trigger something else in this global shame economy. If it not that it can be something like enemies busting markets while everyone worries about the Kardashian rumps, ball games etc

Cyber-security is obvioulsy a bad joke. its a scandal how lightly the attack on gov info was handled while we get focused on garbage

Regulator warns of 'Armageddon' cyber attack on banks
http://www.usatoday.com/story/money/business/2015/02/25/lawsky-goldman-sachs-banks/23995979/
 
The euro is getting slammed. My wife and I was in Spain a few weeks ago and the euro was worth $1.18 this morning it's trading at $.89....

You are looking at both sides. The Euro is not actually even now at it's low for 2015- it is at $1.12 right now and got as low as $1.05 in March.
 
The size of Greece's economy is less than one of our states. Long term, it will not matter what happens with them. Market dips on this will be a buying opportunity. I would be more concerned about Puerto Rico governor announcing they could not pay their public debt today. That will be bad on the bond market (municipals), like Detroit.
 
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