Markets tumble again

[GregLee]

Quote:

Originally Posted by haha Martin Wolfe had an article in FT where he put forth that Germany needs its debtors, as much as Italy, Greece, etc. need German goods and loans.

I had to register (free) to read this. It's here: Creditors can huff but they need debtors - FT.com (at least, this is where I'm looking at it).

[NW-Bound]

Quote:

Originally Posted by haha Martin Wolfe had an article in FT where he put forth that Germany needs its debtors, as much as Italy, Greece, etc. need German goods and loans. Very similar to ideas about China needing the American consumer/debtor as much as the American needs China...

Could I go a bit further and say it is a "symbiotic" relationship, like that of the Eloi and the Morlock in The Time Machine?

[Chuckanut]

Quote:

Originally Posted by youbet We're looking at a referendum here in Illinois. It concerns whether to default on the seemingly insurmountable debt the state has run up and then sell the whole thing to the EU. I mean the whole thing. The zillions of acres of productive farm land, the access to fresh water from the Great Lakes, the worlds most corrupt political system......... everything. Then Washington could make a counter offer if they're interested. One way or another, we're gona need a BIG bailout! These Greek folks are small potatoes.

Why not start a war with a rich super power, loose it, and then get them to fund rebuilding your state?

[MichaelB]

Quote:

Originally Posted by Chuckanut Why not start a war with a rich super power, loose it, and then get them to fund rebuilding your state?

Here's a very funny Peter Sellers movie with that same plot The Mouse That Roared (1959) - IMDb

[justplainbll]

Quote:

Originally Posted by Chuckanut Why not start a war with a rich super power, loose it, and then get them to fund rebuilding your state?

Ask the East Germans; or for that matter the West Germans who were working 6 days a week in the 1950s.

[samclem]

It looks like the Greeks may not be holding their referendum after all. Papandreou's gamble paid off, he got the political opposition to say they'd back the austerity measures. A gutsy tactic. Unfortunately, the Greek people won't have a cut-and-dried popular vote, so there will continue to be external scapegoats for the coming pain.

The AP story.

Dancing on the edge of a cliff is a tiring hobby. And not without some risk.

[GregLee]

Good for the Greeks, and good for me. I'm congratulating myself for investing all my cash on Tuesday afternoon.

[clifp]

Quote:

Originally Posted by samclem Dancing on the edge of a cliff is a tiring hobby. And not without some risk.

I thought that crazy dancing was part of Greek culture, like not paying taxes. Or maybe that is just cause I watched My Big Fat Greek Wedding, twice.

I am finding I'm liking Papandreous in this crazy situation. The guy has balls.