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Author Topic: 20 Reasons Global Debt Time Bomb Explodes Soon........  (Read 74917 times)

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Offline tomcat

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Re: 20 Reasons Global Debt Time Bomb Explodes Soon........
« Reply #10 on: April 29, 2010, 02:47:38 PM »
Thanks for that Goldman Sachs...way to go.
I'll should go out and buy a wheelbarrow to but my devalued paper money in..... just to buy a loaf of bread  :'(
Maybe I should stock up on ammunition now .....so I can at least eat some meat and protect my belongings.  <-unsure_>
The iceburg is getting mighty close to flipping over...seems the entire planet is on the edge of the precipice.... yikes

Offline juu907

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Re: 20 Reasons Global Debt Time Bomb Explodes Soon........
« Reply #11 on: April 29, 2010, 03:06:42 PM »
 <-laugh-> <-laugh->  hey tomcat. if you got that much paper money laying around ill give you ten cents on the dollar and you wont have to go out and buy a wheelbarrow. canadian or us is fine by me.  let me know <-yes_> <-yes_>   jerry

Offline tomcat

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Re: 20 Reasons Global Debt Time Bomb Explodes Soon........
« Reply #12 on: April 29, 2010, 03:13:04 PM »
 <-laugh-> <-laugh-> lol!!!@* lol!!!@* lol!!!@* Ya but I need something to carry my ammunition home  ;D
I think a guy might be wise to stay away from the US dollar by the sounds of it.  <-thinking->
Maybe pick up some more gold pans and shovels while I'm at it  ;D

Offline Bill_Carson

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Re: 20 Reasons Global Debt Time Bomb Explodes Soon........
« Reply #13 on: April 29, 2010, 03:57:47 PM »
Wil ... yes, I think interest rates will rise, and that we'll see an increase in mortgage and credit card defaults ... but, before the defaults get too bad, I think monetization of debt will increase substantially to keep interest rates as artificially low as possible... which will result in the acceleration of currency depreciation (which could lead to stealth sovergn. debt defaults via currency debasement by the fiscally weakest countries).... although, I think Canada will weather the coming debts storms far better than most countries.


      YouTube
            - Video Dispatch: The Brush Fire in the Eurozone
   
There are 2 types of people in this world my friend; those with loaded guns, and those who dig.

Offline Bill_Carson

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Re: 20 Reasons Global Debt Time Bomb Explodes Soon........
« Reply #14 on: April 29, 2010, 08:42:27 PM »
There are 2 types of people in this world my friend; those with loaded guns, and those who dig.

Offline Wil

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Re: 20 Reasons Global Debt Time Bomb Explodes Soon........
« Reply #15 on: April 30, 2010, 06:39:01 AM »
Thanks Bill but I'm stuck with Telus 'Ultra Slow Speed Dialup' so unable to view videos.
I wonder how much more $$ everyone's willing to print?
Wouldn't give some of these European countries a nickel until they straighten out their spending and become more responsible.  Getting worried now! Gold is really starting to sound even better.
Right now CNBC is saying everything is just going along just so wonderfully.  Hmmmmm.....Wil

Offline Bill_Carson

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Re: 20 Reasons Global Debt Time Bomb Explodes Soon........
« Reply #16 on: April 30, 2010, 09:31:48 AM »
Harrisburg, Pennsylvania, Told to Consider Bankruptcy...

Harrisburg, the capital of Pennsylvania, the sixth-most populous U.S. state, has been told by it's City Controller it should consider seeking Chapter 9 bankruptcy protection....

Harrisburg, Pennsylvania, Council Told to Consider Bankruptcy - BusinessWeek

There are 2 types of people in this world my friend; those with loaded guns, and those who dig.

Offline Bill_Carson

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Re: 20 Reasons Global Debt Time Bomb Explodes Soon........
« Reply #17 on: April 30, 2010, 09:44:34 AM »
With $2 Trillion In 3 Year Funding Needs By the PIIGS, The IMF Is Helpless To Do Anything But Sit Back And Watch ...

Total PIIGS funding needs (defined as the sum of debt maturities and budget deficits) over the next 3 years amount to $2 trillion. Total PIIGS funding needs in 2010 alone amount to $600 billion. Total IMF bail out capacity: around $700 billion...

With $2 Trillion In 3 Year Funding Needs By the PIIGS, The IMF Is Helpless To Do Anything But Sit Back And Watch | zero hedge
There are 2 types of people in this world my friend; those with loaded guns, and those who dig.

Offline PlacerPal

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Re: 20 Reasons Global Debt Time Bomb Explodes Soon........
« Reply #18 on: April 30, 2010, 06:15:23 PM »
Anyone following the requests by Greece for a $120 billion dollar debt bailout,
this will really put things into perspective and maybe help explain why Angella Merkel
the Chancellor of Germany and the German voters are not supporting an EU bailout
for Greece.

The situation in Greece is an example of what can happen in a Democracy when the
elected politicians and administrators to stay in power or hang onto their jobs, keep
giving the voters and unions what they ask for without end. The Greeks are the
authors of their own fate and similarly so shall we if we don't dig in and demand
direct Democracy - consultation and referendums.

From:
BBC News - Greeks warned of austerity measures ahead

On Planet Greece, some civil servants get a bonus for turning up to work on time.
Foresters get a bonus for working outdoors. At least they show up.

There are civil servants called ghost workers because they never go into the office,
head to a second job and still claim a state salary. They can't get sacked, because a
civil service post is for life. Unless the incumbent decides to retire in his or her forties,
with a pension.

And the government can continue paying for the afterlife. Unmarried and divorced daughters
of civil servants are entitled to collect their dead parents pensions. Another lucrative sinecure
is to belong to a state committee. The government has no idea how many there are.

It has been estimated that they have 10,000 employees and cost nearly 200m a year, and
that includes the committee to manage a lake that dried up 80 years ago.

 :(


Offline Wil

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Re: 20 Reasons Global Debt Time Bomb Explodes Soon........
« Reply #19 on: May 01, 2010, 07:58:22 AM »
Good post PlacerPal; didn't know it was that bad.
Now that Greece can no longer support their ridiculous spending/lifestyles they expect others to pay for it by way of lending them massive amounts of money they'll never be able to repay. UNBELIEVABLE !  Who do these guys think they are?
Now if Portugal, Spain, Ireland, Italy and some of the Eastern European countries are in the same boat, then something's got to hit the fan!
Sounds like we need the gold standard back to control government printing presses and the dilution of our currencies. Shine up your gold pans guys-we just might do OK in spite of all this crap.............Wil

 


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