Greece

so what does this all mean for the average joe investor right now? any recommendations? :338: wait out the volatility? bet against the euro?
 


sennin436 said:
so what does this all mean for the average joe investor right now? any recommendations? :338: wait out the volatility? bet against the euro?
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put options on any currency with long maturity cant really fail you.

- no investment advice, just my own very stupid opinion thank you very much.
 
you should remember, though, that there are millions of financial instruments that will turn a profit if measured in a random currency.

The real questions are:

do they outperform the risk free rate?
do they outperform the s&p500?
 
Great depression 2 Electric Boogaloo. China is really fucked once it happens.
 
qqbot said:
That's only really a possibility if the central bank wants it to happen. Otherwise, the U.S. is basically free to continue borrowing massive amounts of money and issuing enough to pay the interest on it as required.

Even if the whole economy goes tits up, the U.S. has control over its own currency and can just start over.

Greece cannot do this, because they made the mistake of giving up control of their own currency to the ECB, which is now fucking them in the ass without mercy.
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Argentina style. The difference between Argentina and Greece is that Argentina can (and always does) devalue its currency into oblivion until nobody will lend them any money even at junk rates... which is pretty much where Greece is now.

In the long run, both default and devaluation end up in the same place.
 
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that was my first reaction when I saw that tanned brunette second from right lol. pretty sad thinking really, as if you can buy women when a country is in financial crisis!
 
For an actual enlightened look at this mess, read this short piece from the world's foremost economists:

Austerity Has Failed: An Open Letter From Thomas Piketty to Angela Merkel | The Nation

The humanitarian impact has been colossal—40 percent of children now live in poverty, infant mortality is sky-rocketing and youth unemployment is close to 50 percent. Corruption, tax evasion and bad accounting by previous Greek governments helped create the debt problem. The Greeks have complied with much of German Chancellor Angela Merkel’s call for austerity—cut salaries, cut government spending, slashed pensions, privatized and deregulated, and raised taxes. But in recent years the series of so-called adjustment programs inflicted on the likes of Greece has served only to make a Great Depression the likes of which have been unseen in Europe since 1929-1933. The medicine prescribed by the German Finance Ministry and Brussels has bled the patient, not cured the disease.
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In the 1950s, Europe was founded on the forgiveness of past debts, notably Germany’s, which generated a massive contribution to post-war economic growth and peace. Today we need to restructure and reduce Greek debt, give the economy breathing room to recover, and allow Greece to pay off a reduced burden of debt over a long period of time.
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Debt forgiveness or not, the underlining causes of the economic disaster cannot be ignored. If you have a leaky roof, will you have a safe and stronger house by painting the rooms? What happens when next it rains?

Why can't politicians tell the people the real truth about the situation. The economy of Greece needs adjustments, and that is the only way out of this mess.

They need better and more effective tax policy

They need to crackdown on all levels of corruption

They need to start treating private businesses with respect. Give people incentives to start and open up businesses, and watch as the economy grows.

Eliminate all the crazy employment rules that hinder private business.

Greece pension laws and payouts need adjustment, if the state is to survive.

Lastly, stop blaming other countries for your stupidity. You cannot blame the DRUG DEALER for supplying you drugs, when you're the addict.

When you cut your addiction to easily borrowed money, the FINANCIAL WHORES WILL FIND OTHER VICTIMS.

If your politicians have the guts, Adopt the economic model of SINGAPORE!
 
Ending Greece’s Bleeding

A “yes” vote in Greece would have condemned the country to years more of suffering under policies that haven’t worked and in fact, given the arithmetic, can’t work: austerity probably shrinks the economy faster than it reduces debt, so that all the suffering serves no purpose. The landslide victory of the “no” side offers at least a chance for an escape from this trap.
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jerry55 said:
For an actual enlightened look at this mess, read this short piece from the world's foremost economists:

Austerity Has Failed: An Open Letter From Thomas Piketty to Angela Merkel | The Nation
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jerry55 said:
Germans Forget Postwar History Lesson on Debt Relief in Greece Crisis
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jerry55 said:
Ending Greece’s Bleeding
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Emotional economics at it's finest.

We fucked up, but think of the children!!@1121!

It's not our fault, it's the Germans... or whoever.

Please, give us money, this time we will be ever so good, pllleeeeeessseeee.

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harrymouni said:
that was my first reaction when I saw that tanned brunette second from right lol. pretty sad thinking really, as if you can buy women when a country is in financial crisis!
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How do you pick up women in Greece?

Tell the one in line for the ATM you have more than 60 euros.

How do you pick up women in Greece?

Buy her a happy meal.

How do you pick up women in Greece?

Don't be Greek.
 
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