Global Economy Bursting?

[Riick]

US Is in Even Worse Shape Financially Than Greece: Gross
http://www.cnbc.com/id/43378973
When adding in all of the money owed to cover future liabilities in entitlement programs the US is actually in worse financial shape than Greece and other debt-laden European countries, Pimco's Bill Gross told CNBC Monday.

If that's the right way to look at it,
consider that Mauldin is talking about "when", not "if", Greece defaults.
.
Time to move you dollars into something else, somewhere else.

 

[Randolph Kinney]

Looking at future obligations, that becomes reality at some point in time. Greece is cutting its social spending and promised retirement benefits. I suspect the U.S. will have to do the same.

Before the big financial melt down, the cash flow from FICA taxes and benefit payouts were not as bad as they are now. More people have retired, early. More people are not paying the FICA taxes (huge unemployed population).

 

[Big ole Boy]

....

....

.... Its hard to be right about so many things ........

.... where is superman?

.... I want my mommy .

 

[Randolph Kinney]

The Entire Greece Problem In One Chart

Line goes vertical - no one believes Greece can survive - it must default



Crude-oil futures decline sharply, trading at $95.16, down 4%

http://www.marketwatch.com/story/oi...s-greek-fears-dominate-2011-06-15?siteid=bnbh

Europe's debt crisis dominated investors' attention



Dow finishes down 179 points as Greek debt crisis sinks stocks

http://www.marketwatch.com/story/us...onomic-worries-2011-06-15-1614570?siteid=bnbh

 

[Randolph Kinney]

MARKETS SMASHED, GREECE COLLAPSES, STAGFLATION REINS

http://www.businessinsider.com/closing-bell-june-15-2011-6

Greek markets got bludgeoned, and the selling was frightening early on. Athens stocks got killed, short-term yields went through the roof. Greek 2-year debt is now yielding over 28%.

 

[Couch Potato]

MARKETS SMASHED, GREECE COLLAPSES, STAGFLATION REINS

http://www.businessinsider.com/closing-bell-june-15-2011-6

Greek markets got bludgeoned, and the selling was frightening early on. Athens stocks got killed, short-term yields went through the roof. Greek 2-year debt is now yielding over 28%.

That assumes payment is made.

 

[Randolph Kinney]

That assumes payment is made.

Return of investment is more important than return on investment. :laugh:

 

[Randolph Kinney]

Unasur, looking at the EU, freezes project for common currency and central bank

http://en.mercopress.com/2011/06/13...ewsletter&utm_medium=email&utm_campaign=daily

The Union of South American Nations, UNASUR has frozen the project for a common currency and Central Bank following on conclusions from the European Union experience (and crisis), said the Argentine representative before the organization.

 

[Randolph Kinney]

CFTC moves to delay some swaps rules past July 16

http://www.reuters.com/article/2011/06/14/us-financial-regulation-deadline-idUSTRE75D35U20110614

The CFTC, which must write regulations to cover dozens of complex reforms for the $600 trillion global swaps markets, has missed a series of deadlines for finalizing them.

 

[PropertyEconomics]

Return of investment is more important than return on investment. :laugh:

At this point Randolph many would be thrilled with a return of ... never caring any longer about the return on .... can you say Madoff?