Greek Election did not save the EZ; it kicked the can down the road

[Peter1469]

http://www.telegraph.co.uk/finance/financialcrisis/9338227/Debt-crisis-Market-rally-falters-following-Greek-vote-as-concerns-over-Spain-persist.html

A narrow win for Greece's pro-bailout party, New Democracy, initially spurred markets higher on hopes that the embattled country has bought more time to remain in the euro.


***


But, the early rally faltered as uncertainty resurfaced over the situation in Spain and other eurozone countries, including Italy.

It appears that Greeks want to stay in the EZ more than they don't like austerity. But, the bailouts are not working; they do however put Greece into deeper debt. And they are running out of money:

http://www.bloomberg.com/news/2012-06-17/greece-races-as-cash-dwindles-with-europe-seeking-return-to-cuts.html

Greece will run out of money in mid-July

[MMC]

http://www.telegraph.co.uk/finance/financialcrisis/9338227/Debt-crisis-Market-rally-falters-following-Greek-vote-as-concerns-over-Spain-persist.html

A narrow win for Greece's pro-bailout party, New Democracy, initially spurred markets higher on hopes that the embattled country has bought more time to remain in the euro.


***


But, the early rally faltered as uncertainty resurfaced over the situation in Spain and other eurozone countries, including Italy.

It appears that Greeks want to stay in the EZ more than they don't like austerity. But, the bailouts are not working; they do however put Greece into deeper debt. And they are running out of money:

http://www.bloomberg.com/news/2012-06-17/greece-races-as-cash-dwindles-with-europe-seeking-return-to-cuts.html

Greece will run out of money in mid-July


Yeah I heard they would run out of money in July. But the ECB and the IMF will make sure they can float it down the river of time. Still this is the election that matters to the World. Not the BS in Egypt! Do you think those in the ME can figure that out?

[Peter1469]

I don't think that it is relevant if those in the ME think that their elections are important or not.

[MMC]

Michael Medved had one of the guys from Bain Capitol on. He pointed out that the Eurpoeans have had no innovation for the last 30 yrs. That they were starting to catch up to us but the truth is they are not and they havent been able to catch us nor will they. He said the same thing for Japan but it was closer. But that the US is still doubling them with GDP even now in bad times.

[Peter1469]

Michael Medved had one of the guys from Bain Capitol on. He pointed out that the Eurpoeans have had no innovation for the last 30 yrs. That they were starting to catch up to us but the truth is they are not and they havent been able to catch us nor will they. He said the same thing for Japan but it was closer. But that the US is still doubling them with GDP even now in bad times.

What does US GDP mean when public debt is almost as big?

[MMC]

What does US GDP mean when public debt is almost as big?

I can't think of this guys name but he worked with Romney when he was there. He did say that government Spending under Bush was like 20% but that under Obama it is 25%. Also that Stimulus rarily works and the only way it does is to keep providing stimulus. But that stimulus rarily creates ways to hire more people.

[Peter1469]

True. And stimulus when debt is so high is dangerous.