Greece Financial Meltdown

[Longitude Zero]

Well the Greeks are about to slide into financial oblivion and are asking the world for help. I say let them go belly up an fail. The phrase, "Bugger off you old fart" comes to mind.

[OldFatGuy]

Didn't that just happen to Ireland a few years ago? Greece, and one of our own Puerto Rico is in trouble. Some day it will be our turn. I live in a town with a large Greek community, it's a small town. They buy two houses next to each other, tear them down and build one huge mansion. They have money.

[JohnR]

Unless they adopt a true austerity program and forget about pensions, they'll just keep defaulting.

[DanTana]

I agree, let them default and hopefully be a lesson to all our liberal politicians who support a welfare system.

[yqtszhj]

Didn't that just happen to Ireland a few years ago? Greece, and one of our own Puerto Rico is in trouble. Some day it will be our turn. I live in a town with a large Greek community, it's a small town. They buy two houses next to each other, tear them down and build one huge mansion. They have money.

Didn't i hear that's because they dont pay taxes? The Greeks that is...

[b4uqzme]

I was watching a TV commentator yesterday claiming that it' not Greece's fault = it's the fault of those who lent them money they couldn't pay back. And yet they want more help?

[BigHairyGobbler]

If they keep getting bailed out they will have no reason to alter (e.g. UnFUBAR) their behavior.

[Longitude Zero]

If they keep getting bailed out they will have no reason to alter (e.g. UnFUBAR) their behavior.

That's why they should fail and fail Big!!!

[JohnR]

In the "meaningless comparisons" department, the entire Greek economy is worth the the same as the drop in the top 86 stocks in one day. http://seekingalpha.com/article/3293...-economy?ifp=0

That doesn't mean anything other than a size comparison. There's always the butterfly effect. Greece, from what I've read, is a country of entitled bums, so to continue bailing them out only makes Europe bad parents.

[Longitude Zero]

In the "meaningless comparisons" department, the entire Greek economy is worth the the same as the drop in the top 86 stocks in one day. http://seekingalpha.com/article/3293...-economy?ifp=0

That doesn't mean anything other than a size comparison. There's always the butterfly effect. Greece, from what I've read, is a country of entitled bums, so to continue bailing them out only makes Europe bad parents.

True enough but if they are the first domino to fall and European countries go next, as they should, the effect will be substantial and not just a "drop in the bucket."

[JohnR]

Put another way, Greece's GDP is 6% of Germany's.

[WMD]

LZ is "on target". If Greece falls, that will have significant impact on the Euro which will have significant impact on the US. That is the big fear. Our own economy (already in the dumps) will take a severe hit. That is not good for us retired guys living on what's left of our meager earnings.