Economy

Demeter

(85,373 posts)

17. Germany and France Have a Lot of Nerve

Fri Feb 17, 2012, 08:26 AM

Feb 2012

When it comes to habitual defaulting...Default is actually quite “thinkable” and rarely as disastrous as the “solution” the Greeks are now receiving. As the nearby chart shows, default is hardly a foreign concept on the European continent.

Read more: Default Therapy http://dailyreckoning.com/default-therapy/#ixzz1mdp3rCiI

Greece will never agree to stay put inside its “Golden prison.” It will break out eventually…but probably not before the wardens at the ECB and IMF waste another hundred billion dollars reinforcing the prison’s locks and walls.

This latest Greek bailout will fail just as decisively as all the bailouts that have preceded it.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

90 replies

= new reply since forum marked as read

Highlight:

STOCK MARKET WATCH - Friday, 17 February 2012 [View all] Tansy_Gold Feb 2012 OP

La Vie en Rose Ghost Dog Feb 2012 #1

GD! What's the news in Europe? Demeter Feb 2012 #31

Well, Ghost Dog Feb 2012 #65

I concur with the historical analysis Demeter Feb 2012 #69

Barry Ritholtz Has the Main Theme Right, But Gets a Few Specifics Wrong About MF Global Demeter Feb 2012 #2

MFGlobal Reveals You Are A Bank Counter-Party By Barry Ritholtz Demeter Feb 2012 #3

After MF Global, traders hold tight to excess collateral Demeter Feb 2012 #16

Fire FHFA Director Ed DeMarco PETITION Demeter Feb 2012 #4

My pleasure. n/t Hotler Feb 2012 #86

K&R! hamerfan Feb 2012 #5

Corruption Invades Pure Science and Technology Demeter Feb 2012 #6

Obama�s Wrong Note on Foreclosures By Alan Jenkins Demeter Feb 2012 #7

New York Creates New Foreclosure Courts to Clear Backlog Demeter Feb 2012 #12

Try as they might... Hugin Feb 2012 #61

HUD�s Donovan Tells Remarkable Whoppers About Settlement to Mortgage Investors Demeter Feb 2012 #13

Fun With Numbers: Foreclosure Fraud Settlement Figures Tough to Add Up Demeter Feb 2012 #14

Is the $25 Billion Foreclosure Settlement a Stealth Bank Bailout? Demeter Feb 2012 #15

US taxpayers to subsidise $40bn housing settlement Demeter Feb 2012 #22

The only thing missing from the "let my banker's go" agreement is skittle shitting unicorns!! westerebus Feb 2012 #56

They'll be by shortly. Hugin Feb 2012 #62

They appear every four years by some accounts. n/t westerebus Feb 2012 #73

I guess instead of ponies... AnneD Feb 2012 #64

The other pot of goodies at the end of the rainbow. westerebus Feb 2012 #74

You inspire me! Demeter Feb 2012 #71

You made my day with that set. thanks westerebus Feb 2012 #75

Sigh..I am finding all this overwhelmingly depressing. dixiegrrrrl Feb 2012 #76

I think that is the plan DemReadingDU Feb 2012 #81

Quelle Surprise! Taxpayers Will Be Paying for Part of Mortgage Settlement Demeter Feb 2012 #77

Congress. westerebus Feb 2012 #80

Foreclosure abuse rampant across U.S., experts say Demeter Feb 2012 #72

Mind-Boggling Nonsense from John Cochrane Demeter Feb 2012 #8

Noam Chomsky: America's Decline Is Real -- and Increasingly Self-Inflicted Demeter Feb 2012 #9

AS FOR THE "DECLINE BY DESIGN" PART Demeter Feb 2012 #10

". . . the declining rate of profit in domestic manufacturing. . . ." Tansy_Gold Feb 2012 #46

Been there, Done that, Got the Shaft Demeter Feb 2012 #49

Mothers of the Plaza de Mayo ....... AnneD Feb 2012 #57

Yes, but consider how far away from that situation we are Tansy_Gold Feb 2012 #60

We have had several generations "disappeared" Demeter Feb 2012 #70

Not the same. Horrible, yes, but not the same thing Tansy_Gold Feb 2012 #82

TPTB Are Saving That Particular Atrocity for AFTER the Elections Demeter Feb 2012 #85

As long as there are McDonalds, food stamps and food-pantries DemReadingDU Feb 2012 #83

Greece and the return of the economic 'death spiral' Demeter Feb 2012 #11

Scepticism at talk of Greek default Demeter Feb 2012 #26

Germany Seeks to Avoid Two-Step Vote on Greek Bailout Plan Demeter Feb 2012 #37

German president resigns amid loan probe Demeter Feb 2012 #38

Germany and France Have a Lot of Nerve Demeter Feb 2012 #17

Where to Wait Out the Great Correction By Bill Bonner Demeter Feb 2012 #18

UBS suspends traders in Libor probe Demeter Feb 2012 #19

Bank tells regulators of Libor manipulation: WSJ Roland99 Feb 2012 #78

ECB avoids forced losses on Greek bonds Demeter Feb 2012 #20

�Flight risk� Kazakh tycoon faces jail Demeter Feb 2012 #21

China wants say in World Bank choice Demeter Feb 2012 #23

Could the World Bank turn into an election-year fight? Demeter Feb 2012 #39

Hillary Clinton Is Said to Rival Summers as Contender to Lead World Bank Demeter Feb 2012 #40

AIG buys back old mortgage securities Demeter Feb 2012 #24

MetLife eager to use reserve capital Demeter Feb 2012 #25

Over-regulated America (BADLY REGULATED IS MORE ACCURATE) Demeter Feb 2012 #27

U.S. House Panel Approves Measure Limiting Swaps �Push-Out� Demeter Feb 2012 #29

friday morning! xchrom Feb 2012 #28

And not a moment too soon! Demeter Feb 2012 #30

Good Cheer all around xchrom Feb 2012 #33

How 3 Myths Drive Europe�s Response to Debt Crisis: Harald Uhlig xchrom Feb 2012 #32

Regulator targets credit reporting firms and debt collectors Demeter Feb 2012 #34

Preparing for Alzheimer's (IN YOUR CLIENT�LE) Demeter Feb 2012 #35

Oil Trades Near Six-Week High Demeter Feb 2012 #36

Oil Rise Imperils Budding Recovery Demeter Feb 2012 #43

Iran oil ministry denies state media reports on EU oil stop Demeter Feb 2012 #44

Mardi Gras means fat business for Gulf Coast xchrom Feb 2012 #41

U.S. Jan. CPI up 0.2% vs 0.3% expected (up 2.3% year-over-year) Roland99 Feb 2012 #42

Nearly half of private workforce employed by big companies xchrom Feb 2012 #45

Because Small Business Has Been Garroted by Policy for Past Umpteen Years Demeter Feb 2012 #48

indeed. and i think that has made our workers more susceptible to economic upheaval. xchrom Feb 2012 #50

How Target Figured Out A Teen Girl Was Pregnant Before Her Father Did Demeter Feb 2012 #47

Reality Calls Demeter Feb 2012 #51

bye Miss Demeter -- have a good day! xchrom Feb 2012 #53

Reality's not all it's cracked up to be. Fuddnik Feb 2012 #67

Economy showing feeble signs of revival {japan} xchrom Feb 2012 #52

Greece says it has cleared bailout hurdles xchrom Feb 2012 #54

. DemReadingDU Feb 2012 #58

Central Bank reports rise in home mortgages in trouble {ireland} xchrom Feb 2012 #55

Goldman Sachs IT analyst 'caught up in major investigation' TalkingDog Feb 2012 #59

This would explain the HP tablet fiasco 7 or 8 months ago. Hugin Feb 2012 #63

Gold Bulls Expand as Paulson Says Buy xchrom Feb 2012 #66

The Independent Special report: The hungry generation TalkingDog Feb 2012 #68

MICHAEL HUDSON ON GREECE AND EUROZONE Demeter Feb 2012 #79

Just because... hamerfan Feb 2012 #84

Post removed Post removed Feb 2012 #87

If you have no hope Lisa D Feb 2012 #88

Hi Hotler! hamerfan Feb 2012 #89

Hey Hotler!! westerebus Feb 2012 #90