To sum up :
- Subprime crisis + Deregulation since Clinton's era makes all bank go near bankruptcy
- Banks whine to death and asks states to give them cash so they don't die
- All states boast on bailout plan by giving multibajillon to bank's pockets to 'save economy'... without any compensation, and thus raising their own deficit
- Banks makes money by speculating on states' debts
- Banks pays back the states and the interests in less than two years, without a thanks
- Banks can now makes moar money with the aid of notation agency saying : 'oh, this state is in deficit, let's pwn them'

tl;dr version :
Bank's deficit is now states' deficit. => You pay. End of story.

I don't get what the rioters want


it's like, 'yeah lets take to the street, that'll stop then cutting our salaries.'

that's all well and good but where exactly do they expect the money to come from. yeah your situation sucks and your free to comlain about the situation, but you have to face reality here

Thats over simplifying it. Debt is not the only issue, its deficit in relation to growth/gdp and who owns your debt. Greece is running a huge deficit in relation to their growth and with no options for reorganizing their debt out side of defaulting or restructuring at the cost of the Euro.

Its a complicated issue but you can't point to other country's debt and make a direct comparison to Greece.

LOL!

Not a chance it happens in the next decade. If it happens its going be a gradual process. Even if every government in the world agreed today to head in that direction you cannot reorganize these giant economic systems together in anything close to a decade.

First you will have to see other coalitions like EU. The NAU moving to a unified economic system that involved a single currency would be a step in that direction, which with how things are going for the EU and the world economy in general is very unlikely.

Most importantly its tremendously difficult to sell politically. The political issues are greater then the economic ones.

The Aussie government is 60 billion in debt and will pay it off within a few years (we had a surplus before the global recession, plus we only had one quarter of contraction and thus never actually went into recession). However the rest of the debt within our country probably isn't going to go anywhere.

Some Accounting firm went from 40$ down to 1 cent for a few seconds. That was much worse thanw hat happened to P&G

1c!! What a bargain.

I only heard about P&G on the news, no others were mentioned. It's logical to expect a computer glitch is gonna affect more than one random company's share price. Probably every share that was traded in a specific brief time period got hit.

If 300 Spartans could hold off 1 million Persians for a few days...just think what 11 million Poor Greeks can do!

(and no this isnt funny)

And thats the medias message for this week, ungratfull peasants crying over nothing too specific (its all to hard to explain according to editors). Do you have any idea what happens to countries with massive debt? Do you know what the IMF and the World Bank do to these countries?

Watch this - http://video.google.com/videoplay?docid=-7932485454526581006#docid=-5399796928596929639

Now tell me they don't have a reason to object to cuts in public spending. These debt ridden countries are eventually going to outnumber the rest, when that happens the IMF will be destroyed.