Dr McBeefington
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Originally posted by Borbarad
Well. They had nice list of demands attached to them lending Greece money.I still don't get how the Greeks did react on that crisis. Actually the Greece government was trying to save money before (and the only way to do that is cut the wages of officials). What do they do? Start a strike! I mean, okay: Their government pretty much f*cked it up and that system encorporating corruption anywhere certainly can't work for the future. Still ignoring that there is no money and start a strike seems to be quite idiotic.
What do you expect from a country that offers I believe 3-4 weeks vacation at the very least? If you ask me, this "bailout" is too late.
But I'm actually less worried about Spain than I'm worried about Italy and Belgium...
Why Italy and Belgium? Spain is headed where Greece is a lot faster than those two.
Regarding the bailouts: I find it kind of funny, that certain people, banks, corporations and even countries sticked to the "too big to fail" doctrine and...failed. One should assume they have learned something during the last 50-90 years. Apparently they didn't. Sometimes I can only wonder how certain people are actually capable of making money on the financial markets. I can only suppose this is based on "luck" which they attempt to sell as "expertise".
It's ironic. This "too big to fail" principle didn't work in America, yet the European Union had the balls to continue living by the same principle over there. Again, always makes me nostalgic for the days of a pure gold standard.
A German comedian summoned this kind of system by quoting a "financial expert" from the German stock market. The guy - and this is no joke - commented a stock price with the words: "There is much fantasy in that quotation". That pretty much sums up my view on the stock markets.
Yea, it's a LOT of fluff, but one can sure as hell make a killing on it by usually doing the opposite of what your current government is telling you, regarding the status of the country's economy. I've been playing around with Triple Leverage ETFs since January and I lost a bundle because the Obama Administration was able to spin the economic disaster into a false "recovery". Now I'm finally making it all back because people are either starting to see the truth, or are panicking because of Europe. Then we have today and the market is up 200 points which means people are starting to believe in the European Recovery and I can't blame them. They've done a swell job thus far. If this happened to us, or rather when this happens to us, we won't reach the level of efficiency of Europe.
The "budget deficit cutting" certainly doesn't work for Germany. We are aiming for a record deficit of about 100 billion Euro (mainly because of the financial crisis). Luxembourg and the Swiss are certainly doing better. 😉 [/B]
Of course it's not working, you guys offered the bailout lol. I wouldn't worry about Germany though, you guys are kicking ass with your exports.