Comments on: Default, Greece, default.

By: jay gold

jay gold — Wed, 19 Jan 2011 20:25:33 +0000

news: ICEland (near Gnland) let some bad banks
‘go under’, its currency devalued, so ppl had less
purchasing power. But it is ‘growing’ again.
IREld, Dub Lin, faces a vote March ’1 1, but
raised taxes, reduced benefits/wages to
help ‘bail out’ its bks. So some people will
pay more, earn less. see Argentina:
it ‘defaulted’ AND had inflation / a devaulation of peso ’2001

By: tom twomey

tom twomey — Sat, 25 Sep 2010 16:52:59 +0000

IF A COUNTRY DEFAULTS DO PEOPLES SAVINGS IN GOVERNMENT BANKS BONDS ETC GO AS WELL

By: blue monkey

blue monkey — Sat, 08 May 2010 19:46:28 +0000

Greece and Spain won’t pay back. The only thing Germans can do is:
REPOSSESS 170 Leopard 2AEX Battle Tanks from Greece, and 190 Leopard 2A6E Battle Tanks from Spain.
U.S.A must REPOSSESS 170 F-16 Jet Fighters from Greece, … the rest is gone with the wind …forever …
Greece must stop paying lucrative pensions with borrowed money, reform the free health care system, and cut down, 4 times the military budged.

By: LEONARD

LEONARD — Wed, 10 Feb 2010 02:28:06 +0000

Lets be realistic. Politics trumps the day. The German/French losses from the thorough trashing of the Euro and their banks, which would occur as a result of Greek default, would be greater than the cost of bailing Greece out;at least in the one to three year horizon. Reflation will be pursued at all cost there and here, until it can be pursued no more. That may take several years.

By: PEJ

PEJ — Tue, 09 Feb 2010 17:24:29 +0000

I agree with you Mike, and hardly ever agree with Mauldin, as he believes he thinks “outside the box” but it’s more or less the same Keynesian rubbish that he’s spitting out…

As for Greece, the best case scenario would indeed be a default with repudiation of the debt. It would force Greece to get a balanced budget, but would also lead many other countries into the same situation as people would start to realize that sovereign default risk is real. It would also make the Greeks richer, as their liabilities would disappear.

Of course, the first couple of years would look ugly, but it wouldn’t take a decade as Mauldin states…

By: Independent

Independent — Tue, 09 Feb 2010 13:49:34 +0000

I couldn’t agree with you more. Just like with personal debt, it dies with the debtor. Enslaving future generations is immoral. A default will force those who have incurred the debt, in other peoples name, to suffer the consequences rather than those who have not benefitted and had no hand in its creation.

By: Axclr8

Axclr8 — Tue, 09 Feb 2010 03:55:40 +0000

Great essay!