WEB OF DEBT - WEB OF DEATH

If you are wondering why I keeping making posts about Greece and ranting about how the entire system is built on excessive debt look no further than the NYTimes for a graphic that says it all.

Can you imagine a German looking at Greeks rioting because their pensions may be reduced thinking that you are actually going to extend these people more money? I believe Greeks can retire at age 55 on a public pension, I guess I'd be rioting too if I had grown used to the idea that someone else would take care of me for the next 40 years!!!

DEBT WEB



As I type the Dow is down 276 points. I am hopeful for some turnaround here, but there is a real possibility that later in the week the Europeans vote down a bailout for Greece. Remember what happened in the US when TARP funding was voted down the first time? The S&P500 went down almost 8% that day. Be on your toes this week.

WANT MORE?

- Read this pretty good article on the "What If" the Euro collapsed by Julian Phillips

I don't agree with everything he says, but I've found few folks that actually outline what they think will happen, so I like it!

What will happen to currencies if the Euro collapses?



Goatmug