It’s Probably Nothing

17 Replies to “It’s Probably Nothing”

1. mutually assured economic destruction. glennbeck101.

2. What was I saying about that 1.4×10^13th?

3. All will be fine when the monster black hole swallows the earth…

4. Of course we here know that this black hole has been created by decades of socialists feeding the entitlement generations and postponing paying the bills.

5. Ibby
   You do realize the dense go first…no?

6. Oh No!! Oprah’s blown her diet again!

7. And what’s wrong if a country defaults? Isn’t that called “hitting rock bottom”? Alcoholics have to hit rock bottom before starting the long climb to sobriety, so why not money addicted heavily socialistic nations? At least no new money is getting sucked in.

8. And what’s wrong if a country defaults? Isn’t that called “hitting rock bottom”? Alcoholics have to hit rock bottom before starting the long climb to sobriety, so why not money addicted heavily socialistic nations? At least no new money is getting sucked in.

9. I love this bit:
   “However, France’s finance minister, Francois Baroin, ruled out a new round of austerity measures, and said S&P’s move had not taken into account a Franco-German plan to handle the crisis.”
   Baroin, old pal, maybe it hasn’t occurred to you that S&P IS passing judgment on the Franco-German plan. And it’s less than impressed.
   Interesting times and interesting contradictions. The politicians were very busy slamming the rating agencies, and justifiably so, for giving top ratings to junk financial instruments, but they don’t seem to like it much that the agencies are putting their new-found truth and honesty into action.
   Governments wanted agencies that did not peddle snake-oil. Well, they got their wish. Good and hard.
   Martin, there’s lot wrong with defaults. It means the bond holders get shafted as the country walks away from its debts without paying. Do you want your pension to take a huge loss because of other countries getting off the hook?
   As for the country which defaults, bankruptcy means the complete disintegration of it banking system. No one can or will invest in the country, and the general result is a massive depression. Think Zimbabwe.
   What’s going on with Greece is a real crime. The country has essentially defaulted. It cannot pay its debts and is on life support by EU loans (more debt it’s piling up). However, bondholders usually take out an insurance policy to ensure they get their principal protected. These are called credit default swaps. What the EU is trying to do is to have the bondholders take the hit without having access to their insurance policy default swaps. In other words, to make sure that one kind of investor absorbs all the loss and not all the others who guaranteed the bonds.

10. sounds like a safe Liberal seat.

11. I saw a neighboring headline on that page: ‘France says no to further austerity after S&P warning.’ AHAHA yeah have fun with that. Get your assets out now.

12. And to think that our finance minister just threw our tax dollars and economy into that, and he will be held accountable by whom?
    Goldman Sacks must be very proud of their protege!!

13. Time to invest in beans. Magic Beans.

    
    JACK AND THE BEANSTALK
    ONCE upon a time there lived a poor widow who had an only son named Jack. She
    was very poor, for times had been hard, and Jack was too young to work. Almost all the furniture of the little cottage had been sold to buy bread, until at last there was nothing left worth selling. Only the good cow, Milky White, remained, and she gave milk every morning, which they took to market and sold. But one sad day Milky White gave no milk, and then things looked bad indeed.
    “Never mind, mother,” said Jack. “We must sell Milky White. Trust me to make a
    good bargain, “and away he went to the market.
    For some time he went along very sadly,-but after a little he quite recovered his spirits.
    “I may as well ride as walk,” said he; so instead of leading the cow by the halter, he jumped on her back, and so he went whistling along until he met a butcher.
    “Good morning,”said the butcher.
    “Good morning, sir,” answered Jack.
    “Where are you going ?” said the butcher.
    “I am going to market to sell the cow.”
    “It’s lucky I met you,” said the butcher. “You may save yourself the trouble of going so far.”
    With this, he put his hand in his pocket, and pulled out five curious-looking beans. . . (cont)
    

    Jack And The Beanstalk

14. Oh, my mistake.
    From the headline, I thought this post was about Bambam’s ego.

15. Same thing…what about the beans?

16. Yikes! This one probably will show up next week. Unlike the cosmological one.
    The first step toward saving the European economy is to stop using tax dollars to pay bureaucrats who don’t produce anything. And then repeal all the rules that cause those who do produce things not to produce so many of them.
    Economics 101.

17. Huston…we have a problem.