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Forums - Politics Discussion - Greece Defaults. What now?

Predictions.



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The rest of Europe, parts of Asia, and the U.S follow within the next 30 years or so. Greece is just an extreme example of where the rest of the world is heading.



sc94597 said:

The rest of Europe, parts of Asia, and the U.S follow within the next 30 years or so. Greece is just an extreme example of where the rest of the world is heading.

You think so ?



I hope the best for Greece and that any decision reached is for the good of Greeks and not some lousy EU or other countries.



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fatslob-:O said:
sc94597 said:

The rest of Europe, parts of Asia, and the U.S follow within the next 30 years or so. Greece is just an extreme example of where the rest of the world is heading.

You think so ?

Yep. I have no confidence that any of these countries will stop what they are doing: going back and forth on interest rates until their bubbles get bigger and bigger due to malinvestments (directed by said interest rates), bailing out said malinvestments, while they amass trillions of dollars worth of debt which they'll never be able to sustain. There will be a larger recession than the one in 2008, hyperinflation, and higher unemployment everywhere. Furthermore, with the growing economic powers in the second and third worlds global wealth distributions will more often transfer to these other, more stable regions. The cause of this? Cronyism.



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Let's see what the greeks will vote and if EU really kick them out if they pick NO.

After that, dark times.



the economy is based on a flawed system to begin with ( by that i mean the debt based system where from the very start there will never be enough money in circulation to pay back the original debt )

it was never going to last and was never meant to



What a nut case of a country, individuals are not the problem, but the culture and government in Greece has been whacked for a very very long time

It would be hard to find another country in Europe let a alone in the EU more opposed to the norms of running a country on almost any metric including in human rights, finance, diplomacy, minorities, media, etc



o_O.Q said:

the economy is based on a flawed system to begin with ( by that i mean the debt based system where from the very start there will never be enough money in circulation to pay back the original debt )

it was never going to last and was never meant to


thats BS... the system has no flaw.  the difference you cant explain is easyly explained... its called DEFAULT.

its normal that some loans default, thats why you pay interrest on debt...



Still a little hard to predict at the moment, this first default just stops further funding from the IMF until they correct the situation, the real crisis one is July 20th with the debts to ECB, at that point it will be game over. So the next 20 days both sides will be desperate to sort something out as default will have a lot of serious impacts external to Greece as well (yes Greece will be hit hardest but even many private banks in the US and other countries stand to lose billions).