tag:blogger.com,1999:blog-1527840491496268397.post4914921846530317422..comments2024-03-08T11:20:30.095-07:00Comments on Credit Bubble Stocks: Great Post on Greece by Tim KnightUnknownnoreply@blogger.comBlogger1125tag:blogger.com,1999:blog-1527840491496268397.post-18568518135521331262012-02-13T02:34:15.053-07:002012-02-13T02:34:15.053-07:00The Greek people have been sold up the river.
If ...<i> The Greek people have been sold up the river.</i><br /><br />If so, it was primarily by other Greeks, e.g. their politicians aka 'leaders'.<br /><br /><a href="http://www.ft.com/intl/cms/s/0/ec138fb2-524c-11e1-9f55-00144feabdc0.html#axzz1mFeIdkHM" rel="nofollow">Ireland can show Greece a way out of the crisis</a><br /><br /><i>...Greece has a large external deficit, reaching 8.6 per cent of gross domestic product in 2011. <b>This gap is funded by an unsustainable level of external debt that markets are no longer willing to fund.</b> At present it is being paid by official sources, who expect this to be temporary... <b>Second, Greece does not have what it takes to be as rich as it is.</b>...Here’s the bad news for Greece: in our sample of 128 countries, it had the biggest gap between its current recorded level of income and the knowledge content of its exports. <b>Greece owes its income to borrowed foreign spending it cannot pay back. It produces no machines, no electronics and no chemicals.</b> Of every 10 US dollars of worldwide trade in information technology, it accounts for one cent.</i><br /><br />Also: <a href="http://www.vanityfair.com/business/features/2010/10/greeks-bearing-bonds-201010" rel="nofollow">Beware of Greeks Bearing Bonds</a><br /><br />No idea if Ireland 'can show Greece the way' or not.eahilfhttps://www.blogger.com/profile/11917658744700868462noreply@blogger.com