Is Greece a Harbinger?
POSTED Sun, 05/02/2010 - 12:09 | POSTED BY Anonymous
Could the recent events in Greece prove to be a harbinger for other countries that pursue grossly irresponsible and unsustainable spending paths?
Portugal and Spain seem to be at risk.
Where and when does it stop?
Anonymous (not verified) wrote on Wed, 05/05/2010 - 06:36:
An interesting commentary that discusses similarities between Greece and U.S. fiscal pictures:
http://www.dailynewspaper.us/28465/laurence-j-kotlikoff-is-the-u-s-in-wo...
Key difference being that Greece is unable to inflate its way out of its obligations and must consider default or austerity measures as primary options.
Dan (not verified) wrote on Sat, 05/15/2010 - 08:54:
Similar to the U.S. situation, the Euro Union bailout of Greece was really a bailout of European banks who are the primary creditors to the southern Euro countries.
Same as the U.S. -- privatize gains and socialize all of the risk with a combination of taxpayer money and inflation.
tom wrote on Fri, 06/25/2010 - 10:56:
http://noir.bloomberg.com/apps/news?pid=20601109&sid=atxrhPqbty_4&pos=10