Tuesday, April 27, 2010

Hollow Greece

BBC News: Reports that the Credit status of Greece has been downgraded to junk status. In other words any debt owed by the Greek Government will never be repaid, thus if you hold Greek debt this is the time to sell, get out of the market. It was reported in the UK Guardian that Greece would need 150 billion over three years to keep the dogs from the door. It can be argued that Greece should be allowed to fail, this is the only way it will learn that the Government cant be the nanny state, this is the road the UK and the US is following, lets hope the Oval Office is watching Greece and what an out of control debt can do to an ancient civilization, why should the EU and the IMF bail out the bad politicians of Greece, lets allow Greece to fail, sell its assets, we will take the Marbles in the British Museum as down payment, anything else they would like to sell, well sure the British Museum can take them in, some classical buildings in Greece that would nice in London.

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