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Tuesday, May 8, 2012

Bailouts



I’m sick about hearing about Greece getting more bailout money. It’s not going to Greece. It goes to the banks that lent money to Greece. The banks get bailed out, (sound familiar?) and the people get austerity.

The French saw it coming and elected a Socialist, Francois Hollande. We’ll see how that works out for them. The Germans and the rest of Europe are shook up by the whole thing. Bankers are nervous.

I see Spain is in the bank rescue business now. I’d be reluctant too if I was them.

Anyone remember that Iceland let the banks take the hit? They are doing pretty well right now. All the other politicians pretend there are no solutions other than austerity.

Believe it or not, austerity really hasn’t hit the US yet. Maybe the powers that be hope to push that off until the election.

The economists tell us the world dodged a bullet in 2008. The whole financial system could have come apart. Yeah, it would have been painful, but maybe we’d be recovered by now. If nothing else, idiot investors would have been punished for making idiot investments. Instead, it’s bonuses all around and they get to keep driving this run away train.

Still waiting for that Wall Street perp walk. Laws were broken. Mistakes were made. Someone has their thumb on the scale of justice.

Politically, things are getting really ugly in Greece right now. Don’t think that sort of thing can’t spread. Let it be a cautionary tale.

-Sixbears



11 comments:

  1. We're going to implode sometime soon. Like you I feel the sooner the better then we can get on with life again but not as we know it...

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  2. Tortoise, I agree with your sentiment but not your prediction. The powers that be have clearly demonstrated that are hell-bent on keeping things running as they are for as long as they possibly can. Since that can't be forever, this by definition ensure a nasty collapse, because by that point it will be beyond anyone's control.

    For the US, austerity won't come as long as the dollar is the world's reserve currency. That is something all the other major powers are working on changing. But they're trying to head for the exits slowly so they don't start a stampede.

    My suggestion is we take this extra time we are given to make preparations.

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  3. I must agree with Mr. Wheeler...use what time we have wisely for change, as 'they' say, is a coming...

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  4. Use the calm before the storm to batten down the hatches.

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  5. Sadly the cautionary tale falls mostly on deaf ears...

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  6. At least I sleep well at night.

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  7. the end of humans was by their own hands

    good to start up your freeholds or tribes now

    start up new worlds

    this one is going to go away killing many in its wake

    live free forever

    Wildflower

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  8. I find it funny that iceland has dissapeared from the world news.Guess the banks own the media and dont want the @#ck you solution used by any more countrys.If you look at our debt we will probaly use the iceland solution.If our leaders try austurity here it will make the cival war look tame.We have used S.S. welfare food stamps aid to dependent children you nam it to keep our pot from boiling over.start turning up the heat all bets are off.

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  9. I love how a large percentage of the Irish have refused to pay the new taxes.

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  10. Gary, they are already desperately trying to use the Zimbabwe solution: devalue the currency as fast as possible.

    I've said for the past four years, if Obama gets his way, we'll all be millionaires -- and coffee will costs thousands of dollars a cup.

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  11. Support Ron Paul and his delegate plan and we may be able to dig ourselves out of this mess in a few years.

    I'm getting my plan finalized either way.. I'm done with this so called civilized world and opt for as close to a cashless life as possible on a remote lank in Alaska...

    R.

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