I've bailed out many American companies! They went bankrupt I lost every cent invested in them! Therefore if these governments file bankruptcy it will be like GM. Which after bankruptcy made record profits of like 7.6 billion, enough to give it's employees like 7k each. Forget about those share holders that were wiped out . This is exactly what greece and the others should do, Wipe out the New World Order, which is nothing more then huge banks enslaving the poor! Let them file bankruptcy!
This guy forgot the part that the "piigs" are paying for a crisis that started in the marketplaces of wall street in 2008. So Greece isnt the real problem, the real problem is wall street and its lack of fiscal controll by the US State that led to the crisis of 2008.
And i like the way you americans are always putting apart ireland, when in fact ireland is really bad ( here in this video he is almost painfully writting the name ireland on the board and he says " horrified to say ireland")
Look Europe, the whole world fucked up. We are in deep shit and there is no real way out at this point. All the developed nations now have debt that is pretty high right now, even the strong economic ones.
AustrianAtheist, debts is counted in percentage of GDP. In this way, USA have less debts than for example Greece right now. Else, USA (FED) has much other countries obligations with much higher interest rates than they're borrowing. FED even has very large quantities of gold, which can stabilize US dollar. However, the USA rating has been decreased recently, it's AA+ now.
@MegaKiller10 Yeah in percentage terms USA has less debt than Greece but it has almost the same comparing to Portugal or spain or ireland or even italy ...And have you ever seen the agency rates cut US rate?? no cause they cant, they are controlled by the US government ( Barack Obama pratically expelled the guy who threatened to cut the US rate)
@p220394 They can cut the rating but the US will print and cut more money! US debt is worth only the paper it's printed on! We print our way out of debt by devaluing the dollar on a regular basis!
@firefox666moll You have a deficit approaching 100% this year alone. Your debt is colossal and if you care to research the acronym PIIGGS, you will learly see that the extra 'G' stands for Great Britain. It's there, go research it you thick Limey.
@UnknownOconnor sound to me their all in over thier heads. might as well have 3 G's in thier Germany for loaning money they will never see again! And a big F for france. standing for forget that investment!
@troybrownrigg Well, the biggest problem is that the ECB is refusing to monetize debt like any other central bank. That in my opinion is suidical and crazy. I find these acronyms offensive where it feels like someone is kicking me in the teeth because I am bailing out European and American bondholders of Irish Banks. Our former finance minister Brian Lenihan guaranteed the Banks which bankrupted us - hope he rots in hell. I also hope our treasury bills remain at 4%.
It surprises me to see how anti diplomatic this conversation is, how does anyone dare to label such an insult like pigs to these countries? Don't forget that three generations ago everyone was raising cows, no matter how blonde you were.
a strong dollar is not a bad thing!!!!!!!!!! yes exports might be afected but the fact that there is a strong dollar means that we can buy more things from abroad. Yes it would increase the defecit but that is a good thing, all those dollars will have to be used to buy American things in a future. NOTHING WRONG WITH DEFECIT PER SAY.
I think he forgot to mention that Sovereign Debt is mostly denominated in foreign currencies so when the Euro goes down, it becomes more expensive for all Euro Zone members to service their debt
I don't say bullshit. You might think more before speaking...
In addition I'm sure what i've said in previous post because i'm graduate in Finance at University of Bologna and i am attending LMQF course (Laurea Magistrale in Quantitative Finance).
So i think you say too much bullshit. If my analysis about Italian framework, you can make another one. Then, we'll all be better off..
Yes but Italy have an higher attitude to save that compensate the high debt and deficit. According this sentences, Italy have a more stable framework..
Αντί να κρίνονται και να κατακρίνονται αποφάσεις ή ενέργειες συγκεκριμένων ατόμων, στιγματίζεται συλλήβδην ένας ολόκληρος λαός. Με την λογική αυτή εάν οι Πορτογάλοι, Ελληνες, Ιταλοί κτλ είναι «PIIGS» τότε οι Γερμανοί είναι «δολοφόνοι» όχι ο Hitler.
Such ratings are dangerous. Instead of being judged and criticized decisions or actions of specific individuals, collectively stigmatized an entire people. Instead of being judged and criticized decisions or actions of specific individuals, collectively stigmatized an entire people.
If we accept the acronym PIGS or PIIGS then we must accept the Germans provided MURDERERS who (according to them) should characterize the people of Germany and not Hitler for war crimes. etc etc......
Wise up, reduce the debt, even if really painfull, get out of the euro, get out of the european union, and get out of the common market. We will be much better off with bilateral agreements that allow us to moderate imports thru customs taxation and active import replacement policy according to our needs and the balance of payments.
Our governements, naturally pressured to present results to its peoples by showing economical growth used the only instruments left to stimulate growth: direct state investment mostly thru big public works and further inflating the public sector workforce. Northern europeans like to call us irresponsible for doing that but really that was the only mechanism that in the time of a legislature could present results to keep politicians in power and the people happy with the EU.
@greenday1978 Now that the funds have dried up, and the Merkle governement has decided -in very undiplomatic terms on top of everything- that countries like Greece, Ireland and Portugal are not worthy of support the unavoidable conclusion of a bad economical union has come. I have to note that I do not condemn germans and northern europeans for defending their interestes and not ours as well...it is not their job. We in the south are the ones that have to wise up.
Next, because everybody else is more interested in trading with China than protecting jobs or the level of life of everybody in Europe, we lost more and more of our industrial sector. Maybe the only productive sector that grew was tourism...but not to a scale capable to compensate for the loss of the others. While EU funds for adjustment to the union and development came into our economy the ilusion could be kept that it was working for us as well as for northern europeans.
You just forgot to say why these countries have contracted such levels of debt:
In truth they are generally less competitive. When they had full economical sovereignty they could use taxation, customs fees, currency controls and devaluation, and subsidisation of chosen economical sectors to promote growth or at least employment.
@greenday1978 Joining the Eu our politicians made big of the propaganda that we would have one single market and, because our wagers were lower, we would have an inflow of investment that would compensate for the loss of our protective barriers.In Portugal, our primary sector was decimated (farming and fishing with reduction of fleets and sharing of our very very vast waters and bending ourselves to EU farming quotas, even reducing production of farming goods that we import)
Referring to whole nations with derogatory and dehumanizing terms only makes it easier for the financial terrorists to do their crimes - and of course the ignorant mass to just watch and / or applause.
How does it feel now that the really shitty situation in the UK has been uncovered? Do you feel like oinking?
You guys must realise that we are in global economy and we are together. This crisis started in 80´s, the end of Communism saved us, because it was a very good deal to Capitalism, it expanded the market. But it was only a small air-gap - I thought, before, it would stand for 30 years, but it was too short xD. But what we have here is a tipical structural crisis of capitalism, just like 1929. 1929 could only be solved with the european rebuilt after WWII.
XD, "PIIGS". BTW, the wellfare state is dieing. We know a lot what FMI means, I am brazilian and we got this so called "help" from FMI around 80´s. Europeans, say goodbye to your wellfare state.
Anti European propaganda. All other leading economies (USA, Japan) have more debts. I hate these US rating agencies, that still give a AAA to the USA, even when they have more than 13.000.000.000.000$ debts.
@AustrianAtheist Just because you have a high debt to GDP, it doesn't make the country obsolete. At least the U.S. won't default on its debt in million shot at this point, compare to the European countries like Greece and Ireland who already have and Spain and Portugal lining up next.
@AustrianAtheist In november 2010: US receipts: $150 billion (+12%/year); US expenditures: $300 billion (+18%/year). A $150 billion deficit in one single month is larger than the State deficit of some big European countries in one year.
@AustrianAtheist Decent point, but what you fail to see is that investors don't care about the total amount of debt a country owes or their debt-to-GDP ratio; what investors care about is a country's ability to pay their debt. The US and Japan can easily make their debt payments while the PIIGS cannot. The PIIGS only have one option to make their payments and that is through taxation. That is why investors are worried about the PIIGS and not USA or Japan.
@AustrianAtheist if you think this is propaganda,then go buying Greek 2 years bonds. it is now yielding 120%. whilst US and Japan bonds keep its low interest rates.
@AustrianAtheist you´re right it is in fact a conspiracy against europe ( specially southern europe). An example: 1 week ago, the german minister of finances said to the portuguese minister of finances : " we can help you if you need another loan, cause you are making important and corageous measures". while we were having dinner i said to my family: " its good news, so we will have our rating cut in the next week" . two days after this , our rating was cut
@AustrianAtheist A portuguese commentator said, and i agree a lot: " the cold war ended. The problems of the soviet union were immediatly at sight, the problems of the US took long to be seen". We as europeans are now facing the problems the US created, we are paying for what another country as started. I am not saying Portugal, SPain, Greece, Ireland, Italy dont have fault in this matter, cause they/ we have. But this wouldnt have started if wasnt for the USA
I´m spanish and i understand why you include Spain in the PIIGS group.
PSOE (the actual party in the Goverment) is responsible for our current situation, keeping million citizens perceiving subsidies without working to ensure their vote (see "PER" in Andalucía for example)
Someone has to put the Spanish people to work once and for all !!
I would take a few points from this video - 'if they go down, they are going to bring the Euro with them' - yes in the short term, but the long term future of the Euro as a 'quality' currency is surely weakened because what the EU is saying to investors is that we don't believe in member state fiscal responsibility. As an investor, you would take your money elsewhere where more prudent lending is taking place.
Further, it isn't really sovereign debt, its member state bank debt.
And how would you get off the crisis in 1 minute, you are living off other peoples goodwill. Your bloated state apparatus would collapse if the rest of the world shut down the supply of money.
@johnsenkenn look you dont know what help we could get from China and Russia....you dont leave in Greece so you dont know...we could easily be in top 10 richest countries...
flight to safety 'US Dollar' LOL. Gold should have doubled or tripled in last 1 and a half years, unfortunately people still think "US dollar' as flight to safety and not Gold.
"horrified to say Ireland". That straight away shows his favoritism and therefore biased opinions. Why doesnt he explain, what markets are those countries borrowing from? Is it the same markets that brought the whole world to its knees? Yes you idiot, it is those greedy ''markets''
I overlooked the fact that he sounds like he could be from Ireland? You either are an idiot or cannot read properly.....Read again my comment but this time use your brain....
No they weren't. Portugal for example, was relatively well-off when it had colonies (up until the 1970's). Spain experienced an enourmous boom during the late 80's and the 1990's. Italy had a spectacular growth after the second world war.
Too bad we don't have much stuff to be selling to Europe. I'm more worried about our own currency crisis. The rest of the world will realize sooner or later that the US gov is in the same boat with the PIIGS. The problem for the Euro countries is that they can't just print more money. That's the only thing keeping the US from the same frying pan, inflating the monetary supply.
So Ben Bernanke played a master stroke?!! When he convened a meeting of central bankers and encouraged them to go on a money printing spree...looks like PIIGS being led to slaughter! US $ will gain ground as China also refuses to let the yuan appreciate..
What really gets my goat is that in the "flight to quality", investors are looking to the US dollar. As if the US was on a sound economic footing. Hah!
@Panpiper A lot of investors fly to money market mutual funds, if they do not go to treasuries....the problem is the yield on mine is .01%...but there are online savings accounts offering 1.49% interest....annualized...and can change....also "diamond" stocks with good yields are proven the world over....like Johnson and Johnson, ATT etc.
@cosmosgato It is true that pseudo Keynesian "solutions" have made us wallow in debt...but there are countries with much worse debt as a % of GDP. The politicians don't even follow Keynes! You have to -cut- taxes and increase deficit spending...they don't even do that!
Right, too many governments are only interesting in increasing spending, while they refuse to cut taxes. Also, classic Keynesianism says that governments should run SURPLUSES in good years, instead of looking for ways to spend all the tax revenue that comes in.
We started the problems, but we are quicker back on our feet than Europe. I'm sorry to say, but Europe has too much labor and industry protection and this slows down any sort of bounce back from a crisis.
Maybe the PIIGGS should start thier own money system all declaring bankruptcy at the same time and starting another FIAT currentcy system!
troybrownrigg 3 weeks ago
I've bailed out many American companies! They went bankrupt I lost every cent invested in them! Therefore if these governments file bankruptcy it will be like GM. Which after bankruptcy made record profits of like 7.6 billion, enough to give it's employees like 7k each. Forget about those share holders that were wiped out . This is exactly what greece and the others should do, Wipe out the New World Order, which is nothing more then huge banks enslaving the poor! Let them file bankruptcy!
troybrownrigg 3 weeks ago
This guy forgot the part that the "piigs" are paying for a crisis that started in the marketplaces of wall street in 2008. So Greece isnt the real problem, the real problem is wall street and its lack of fiscal controll by the US State that led to the crisis of 2008.
And i like the way you americans are always putting apart ireland, when in fact ireland is really bad ( here in this video he is almost painfully writting the name ireland on the board and he says " horrified to say ireland")
p220394 3 weeks ago
Thanks for clarifying!
deejaynam 1 month ago
Look Europe, the whole world fucked up. We are in deep shit and there is no real way out at this point. All the developed nations now have debt that is pretty high right now, even the strong economic ones.
yomamasapeach 2 months ago
The draw of the pig wasn´t necessary.
Fonseca429 3 months ago 2
"PIIGS" are the rotten tomatoes of Europe
iurikorolev 3 months ago
AustrianAtheist, debts is counted in percentage of GDP. In this way, USA have less debts than for example Greece right now. Else, USA (FED) has much other countries obligations with much higher interest rates than they're borrowing. FED even has very large quantities of gold, which can stabilize US dollar. However, the USA rating has been decreased recently, it's AA+ now.
MegaKiller10 4 months ago
@MegaKiller10 Yeah in percentage terms USA has less debt than Greece but it has almost the same comparing to Portugal or spain or ireland or even italy ...And have you ever seen the agency rates cut US rate?? no cause they cant, they are controlled by the US government ( Barack Obama pratically expelled the guy who threatened to cut the US rate)
p220394 3 weeks ago
@p220394 They can cut the rating but the US will print and cut more money! US debt is worth only the paper it's printed on! We print our way out of debt by devaluing the dollar on a regular basis!
troybrownrigg 3 weeks ago
Britain is part of the piiggs.
UnknownOconnor 5 months ago
@UnknownOconnor NO , we are not in the Euro , we are the £pound , we where far to smart to go into the Euro zone ,
firefox666moll 4 months ago
@firefox666moll You have a deficit approaching 100% this year alone. Your debt is colossal and if you care to research the acronym PIIGGS, you will learly see that the extra 'G' stands for Great Britain. It's there, go research it you thick Limey.
UnknownOconnor 4 months ago
@UnknownOconnor sound to me their all in over thier heads. might as well have 3 G's in thier Germany for loaning money they will never see again! And a big F for france. standing for forget that investment!
troybrownrigg 3 weeks ago
@troybrownrigg Well, the biggest problem is that the ECB is refusing to monetize debt like any other central bank. That in my opinion is suidical and crazy. I find these acronyms offensive where it feels like someone is kicking me in the teeth because I am bailing out European and American bondholders of Irish Banks. Our former finance minister Brian Lenihan guaranteed the Banks which bankrupted us - hope he rots in hell. I also hope our treasury bills remain at 4%.
UnknownOconnor 3 weeks ago
I like the pen throw at the end.
theoldana 7 months ago
It surprises me to see how anti diplomatic this conversation is, how does anyone dare to label such an insult like pigs to these countries? Don't forget that three generations ago everyone was raising cows, no matter how blonde you were.
MrOscarBanana 8 months ago
FUCK YOU
NLS87 8 months ago
no one noticed the fact that he has 3 accents! America, English RP and Irish accent :D
ImgonnapassmyAlevels 8 months ago
The PIIGS getting smashed by the PIMPS.
XISatu 11 months ago
Belgium is also in trouble now. Can we change the name to Big Sip Contries?
luasolua 1 year ago
a strong dollar is not a bad thing!!!!!!!!!! yes exports might be afected but the fact that there is a strong dollar means that we can buy more things from abroad. Yes it would increase the defecit but that is a good thing, all those dollars will have to be used to buy American things in a future. NOTHING WRONG WITH DEFECIT PER SAY.
ivanjrt 1 year ago
I think he forgot to mention that Sovereign Debt is mostly denominated in foreign currencies so when the Euro goes down, it becomes more expensive for all Euro Zone members to service their debt
johnlewisy 1 year ago
@LorMatte: what are you talking abou?
I don't say bullshit. You might think more before speaking...
In addition I'm sure what i've said in previous post because i'm graduate in Finance at University of Bologna and i am attending LMQF course (Laurea Magistrale in Quantitative Finance).
So i think you say too much bullshit. If my analysis about Italian framework, you can make another one. Then, we'll all be better off..
briguz 1 year ago
well spain the 4 biggest economy in europe, dont compare with ireland or italy
badsign1980 1 year ago
Yes but Italy have an higher attitude to save that compensate the high debt and deficit. According this sentences, Italy have a more stable framework..
briguz 1 year ago
@briguz dear briguz, stop sayin bullshit. we're pretty much fucked up right now. just lookin up for di vaio president of Italy. best regards,
ro ;)
LorMatte 1 year ago
Αντί να κρίνονται και να κατακρίνονται αποφάσεις ή ενέργειες συγκεκριμένων ατόμων, στιγματίζεται συλλήβδην ένας ολόκληρος λαός. Με την λογική αυτή εάν οι Πορτογάλοι, Ελληνες, Ιταλοί κτλ είναι «PIIGS» τότε οι Γερμανοί είναι «δολοφόνοι» όχι ο Hitler.
mmgaa2 1 year ago
Such ratings are dangerous. Instead of being judged and criticized decisions or actions of specific individuals, collectively stigmatized an entire people. Instead of being judged and criticized decisions or actions of specific individuals, collectively stigmatized an entire people.
If we accept the acronym PIGS or PIIGS then we must accept the Germans provided MURDERERS who (according to them) should characterize the people of Germany and not Hitler for war crimes. etc etc......
mmgaa2 1 year ago
Wise up, reduce the debt, even if really painfull, get out of the euro, get out of the european union, and get out of the common market. We will be much better off with bilateral agreements that allow us to moderate imports thru customs taxation and active import replacement policy according to our needs and the balance of payments.
greenday1978 1 year ago
Our governements, naturally pressured to present results to its peoples by showing economical growth used the only instruments left to stimulate growth: direct state investment mostly thru big public works and further inflating the public sector workforce. Northern europeans like to call us irresponsible for doing that but really that was the only mechanism that in the time of a legislature could present results to keep politicians in power and the people happy with the EU.
greenday1978 1 year ago
@greenday1978 Now that the funds have dried up, and the Merkle governement has decided -in very undiplomatic terms on top of everything- that countries like Greece, Ireland and Portugal are not worthy of support the unavoidable conclusion of a bad economical union has come. I have to note that I do not condemn germans and northern europeans for defending their interestes and not ours as well...it is not their job. We in the south are the ones that have to wise up.
greenday1978 1 year ago
Next, because everybody else is more interested in trading with China than protecting jobs or the level of life of everybody in Europe, we lost more and more of our industrial sector. Maybe the only productive sector that grew was tourism...but not to a scale capable to compensate for the loss of the others. While EU funds for adjustment to the union and development came into our economy the ilusion could be kept that it was working for us as well as for northern europeans.
greenday1978 1 year ago
You just forgot to say why these countries have contracted such levels of debt:
In truth they are generally less competitive. When they had full economical sovereignty they could use taxation, customs fees, currency controls and devaluation, and subsidisation of chosen economical sectors to promote growth or at least employment.
greenday1978 1 year ago
@greenday1978 Joining the Eu our politicians made big of the propaganda that we would have one single market and, because our wagers were lower, we would have an inflow of investment that would compensate for the loss of our protective barriers.In Portugal, our primary sector was decimated (farming and fishing with reduction of fleets and sharing of our very very vast waters and bending ourselves to EU farming quotas, even reducing production of farming goods that we import)
greenday1978 1 year ago
@deepenhancer we the same here. Euro is good only for german and france exports!
Dionasa 1 year ago
Good video man!
an Italian PIG =)
I can feel the revolution in my country...is coming soon
Ramboforli 1 year ago
Germany must stop giving money to everybody who has a problem.
ShwangShwing 1 year ago
@marketplacevideos
Referring to whole nations with derogatory and dehumanizing terms only makes it easier for the financial terrorists to do their crimes - and of course the ignorant mass to just watch and / or applause.
How does it feel now that the really shitty situation in the UK has been uncovered? Do you feel like oinking?
nightlingo 1 year ago
lazy southern europeans
scully2222 1 year ago
You guys must realise that we are in global economy and we are together. This crisis started in 80´s, the end of Communism saved us, because it was a very good deal to Capitalism, it expanded the market. But it was only a small air-gap - I thought, before, it would stand for 30 years, but it was too short xD. But what we have here is a tipical structural crisis of capitalism, just like 1929. 1929 could only be solved with the european rebuilt after WWII.
CanoPinto 1 year ago
XD, "PIIGS". BTW, the wellfare state is dieing. We know a lot what FMI means, I am brazilian and we got this so called "help" from FMI around 80´s. Europeans, say goodbye to your wellfare state.
CanoPinto 1 year ago 5
awesome, Nicely explained
madvinu 1 year ago
Anti European propaganda. All other leading economies (USA, Japan) have more debts. I hate these US rating agencies, that still give a AAA to the USA, even when they have more than 13.000.000.000.000$ debts.
AustrianAtheist 1 year ago 15
@AustrianAtheist
Those agencies are nothing but USA government mechanisms.
ViriathusVingathor 1 year ago
@AustrianAtheist Just because you have a high debt to GDP, it doesn't make the country obsolete. At least the U.S. won't default on its debt in million shot at this point, compare to the European countries like Greece and Ireland who already have and Spain and Portugal lining up next.
I suppose economy is not your strongest forte.
ninuxy 1 year ago
@AustrianAtheist In november 2010: US receipts: $150 billion (+12%/year); US expenditures: $300 billion (+18%/year). A $150 billion deficit in one single month is larger than the State deficit of some big European countries in one year.
xaviqaz 1 year ago
@AustrianAtheist well america does have a gdp of 14 trillion, and as far as japans debt goes they own their own debt.....
obummersux 1 year ago
@AustrianAtheist Decent point, but what you fail to see is that investors don't care about the total amount of debt a country owes or their debt-to-GDP ratio; what investors care about is a country's ability to pay their debt. The US and Japan can easily make their debt payments while the PIIGS cannot. The PIIGS only have one option to make their payments and that is through taxation. That is why investors are worried about the PIIGS and not USA or Japan.
bowchikabowbow 5 months ago
@AustrianAtheist if you think this is propaganda,then go buying Greek 2 years bonds. it is now yielding 120%. whilst US and Japan bonds keep its low interest rates.
Waterfall714 5 months ago
@AustrianAtheist Actually they started calling this US PIIGS
topppps 3 months ago
@AustrianAtheist you´re right it is in fact a conspiracy against europe ( specially southern europe). An example: 1 week ago, the german minister of finances said to the portuguese minister of finances : " we can help you if you need another loan, cause you are making important and corageous measures". while we were having dinner i said to my family: " its good news, so we will have our rating cut in the next week" . two days after this , our rating was cut
p220394 2 weeks ago
@AustrianAtheist A portuguese commentator said, and i agree a lot: " the cold war ended. The problems of the soviet union were immediatly at sight, the problems of the US took long to be seen". We as europeans are now facing the problems the US created, we are paying for what another country as started. I am not saying Portugal, SPain, Greece, Ireland, Italy dont have fault in this matter, cause they/ we have. But this wouldnt have started if wasnt for the USA
p220394 2 weeks ago
I´m spanish and i understand why you include Spain in the PIIGS group.
PSOE (the actual party in the Goverment) is responsible for our current situation, keeping million citizens perceiving subsidies without working to ensure their vote (see "PER" in Andalucía for example)
Someone has to put the Spanish people to work once and for all !!
mishocatun 1 year ago
oink, oink, oink. oink, oink, oink......police
Shukria123 1 year ago
I though it was the -
Hedging
Embezzeling
Egotistical
Banker
Scum
....Once again.
Watch your acronyms Hirsch.
johnq123123 1 year ago
I would take a few points from this video - 'if they go down, they are going to bring the Euro with them' - yes in the short term, but the long term future of the Euro as a 'quality' currency is surely weakened because what the EU is saying to investors is that we don't believe in member state fiscal responsibility. As an investor, you would take your money elsewhere where more prudent lending is taking place.
Further, it isn't really sovereign debt, its member state bank debt.
delatroy 1 year ago
stick it up
glaucodichio 1 year ago
what about the U.S. hedge funds??? They have dragged all the world down
corinnakd 1 year ago
damn piigs are dragging europe down with them.
wiseye61 1 year ago
@wiseye61 i am from Greece..if EU wasn't around my country could get off the crisys in 1 minute..so FUCK YOUR EU
Xrhstos7410 1 year ago
@Xrhstos7410
haha, well you're a PIIG! :P
wiseye61 1 year ago
@wiseye61 at least i am not a bastard like you!
Xrhstos7410 1 year ago
@Xrhstos7410
And how would you get off the crisis in 1 minute, you are living off other peoples goodwill. Your bloated state apparatus would collapse if the rest of the world shut down the supply of money.
johnsenkenn 1 year ago
@johnsenkenn look you dont know what help we could get from China and Russia....you dont leave in Greece so you dont know...we could easily be in top 10 richest countries...
Xrhstos7410 1 year ago
@Xrhstos7410
Ahh...you could get help from China......you admit you need money from someone. If you want to be one of the richest, you will need to work.
johnsenkenn 1 year ago
You don't sound like an American.
MrFrankygoestoboston 1 year ago
This is VERY offencive about Greece ... the lighthouse of WESTERN CULTURE!!!!
PANOSKINGMASTER 1 year ago
flight to safety 'US Dollar' LOL. Gold should have doubled or tripled in last 1 and a half years, unfortunately people still think "US dollar' as flight to safety and not Gold.
roopkumartv 1 year ago
PIIGS in Europe and COMA for the USA. COMA=California, Oregan, Michigan, Arizona. Those states are in deep Financial problems like the PIIGS.
nickfl1980 1 year ago
Comment removed
potsiiscool 2 years ago
"horrified to say Ireland". That straight away shows his favoritism and therefore biased opinions. Why doesnt he explain, what markets are those countries borrowing from? Is it the same markets that brought the whole world to its knees? Yes you idiot, it is those greedy ''markets''
vasileioskachrimanid 2 years ago
LOL, YOU PAY ATTENTION TO DETAILS BUT YOU OVERLOOKED THE FACT THAT HE SOUNDS LIKE HE COULD BE FROM IRELAND. That being said, you're an idiot.
hothead13 2 years ago
I overlooked the fact that he sounds like he could be from Ireland? You either are an idiot or cannot read properly.....Read again my comment but this time use your brain....
vasileioskachrimanid 2 years ago
Oh sorry, i forgot you are a hothead like your name says, which in other words means ready for a fight but no substance!!!
vasileioskachrimanid 2 years ago
yeah, america's problem is PIIGS??? do me favor Paddy, F*****K OFF!
selfidentity1 2 years ago
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xaviqaz 2 years ago
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xaviqaz 2 years ago
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xaviqaz 2 years ago
BSCH (banco santander)
BBVA (banco bilbao vizcaya argentaria)
anything else?
xXchochofrostXx 2 years ago
No they weren't. Portugal for example, was relatively well-off when it had colonies (up until the 1970's). Spain experienced an enourmous boom during the late 80's and the 1990's. Italy had a spectacular growth after the second world war.
Fuchizaa 2 years ago
Too bad we don't have much stuff to be selling to Europe. I'm more worried about our own currency crisis. The rest of the world will realize sooner or later that the US gov is in the same boat with the PIIGS. The problem for the Euro countries is that they can't just print more money. That's the only thing keeping the US from the same frying pan, inflating the monetary supply.
And that IS Keynsian.
strokjl 2 years ago
Not the issue. The US banking maffia is the issue.
realcarboncredits 2 years ago
America does indeed need a drink... *very badly* ;)
ewap8 2 years ago
PIIGS is sooo the buzz-word at the moment.
WizardKing78 2 years ago
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xaviqaz 2 years ago
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Gary190tube 2 years ago
@xaviqaz what about "STUPIDs"? (Spain, Turkey, UK, Portugal, Italy, Dubai...)
We use the word STUPIDs in the UK as well and it refers to us.
PIGS just happens to fit. Not racist, but a bit insensitive maybe.
Gary190tube 2 years ago 3
So Ben Bernanke played a master stroke?!! When he convened a meeting of central bankers and encouraged them to go on a money printing spree...looks like PIIGS being led to slaughter! US $ will gain ground as China also refuses to let the yuan appreciate..
0musing 2 years ago
What really gets my goat is that in the "flight to quality", investors are looking to the US dollar. As if the US was on a sound economic footing. Hah!
Panpiper 2 years ago 10
Quality is a relative term.
Yes USA is better than everyone else.
Many don't want to hear that but it is true
Can you really imagine someone saying "I'm going Putin and the Russian ruble."
ROTFL
cosmosgato 2 years ago
@Panpiper A lot of investors fly to money market mutual funds, if they do not go to treasuries....the problem is the yield on mine is .01%...but there are online savings accounts offering 1.49% interest....annualized...and can change....also "diamond" stocks with good yields are proven the world over....like Johnson and Johnson, ATT etc.
Gyrode 2 years ago
Thank you!
scutter4christ 2 years ago
Quick and simple, thanks.
hiphopsocnroc 2 years ago
Go figure!
I thought it was America who's currency was suppose to collapse for debt.
cosmosgato 2 years ago 3
As long as there are enough people like me, the dollar will keep its current value.
markpemble 2 years ago
@cosmosgato It is true that pseudo Keynesian "solutions" have made us wallow in debt...but there are countries with much worse debt as a % of GDP. The politicians don't even follow Keynes! You have to -cut- taxes and increase deficit spending...they don't even do that!
Gyrode 2 years ago
@Gyrode
Right, too many governments are only interesting in increasing spending, while they refuse to cut taxes. Also, classic Keynesianism says that governments should run SURPLUSES in good years, instead of looking for ways to spend all the tax revenue that comes in.
herbs814 2 years ago
We started the problems, but we are quicker back on our feet than Europe. I'm sorry to say, but Europe has too much labor and industry protection and this slows down any sort of bounce back from a crisis.
rachelvirienna 1 year ago