Socialism Kills Another 466 Points from Dow Jones Today.

[Erasmus]

No link, really.  Easy to find.  I was on a call earlier with the muni group at RBC and Greece is still sucking wind, as are the European banks who've tied themselves together with the Euro.  I guess if one falls off the cliff, they're all going to be pulled to the edge.

We've basically have the same situation here in the US, if only 5-10 years behind Europe.  We have member states in our union that demand entitlement spending, pensions, cradle-to-grave health care, etc., and they've put us in a poor position fiscally as well.  What's worse, is that the issues in Greece and Spain are caused precisely because of too much of what the liberals here are STILL DEMANDING - more government spending and entitlement.

It's like watching in horror as someone drinks a cup of poison and flails around.  All the while you're angrily demanding of the bartender "I'll have what they're having".  Ridiculous.

[DefiantSix]

No link, really.  Easy to find.  I was on a call earlier with the muni group at RBC and Greece is still sucking wind, as are the European banks who've tied themselves together with the Euro.  I guess if one falls off the cliff, they're all going to be pulled to the edge.

We've basically have the same situation here in the US, if only 5-10 years behind Europe.  We have member states in our union that demand entitlement spending, pensions, cradle-to-grave health care, etc., and they've put us in a poor position fiscally as well.  What's worse, is that the issues in Greece and Spain are caused precisely because of too much of what the liberals here are STILL DEMANDING - more government spending and entitlement.

It's like watching in horror as someone drinks a cup of poison and flails around.  All the while you're angrily demanding of the bartender "I'll have what they're having".  Ridiculous.

When they go over, they'll drag us along with 'em.  The Federal Reserve has been "trying to stabilize" the Euro over the past few weeks by "loaning" dollars on a 3-month contract to European banks damned near at a 1 to 1 ratio.

Alpha Mike Foxtrot.

[Wineslob]

If memory serves, I remember Rush and others warning against this exact thing, years ago.   

[Erasmus]

When they go over, they'll drag us along with 'em.  The Federal Reserve has been "trying to stabilize" the Euro over the past few weeks by "loaning" dollars on a 3-month contract to European banks damned near at a 1 to 1 ratio.

Alpha Mike Foxtrot.

If we bail them out with worthless dollars, at the end of the day, can't we just tell them that they need to settle with China?

[Allentownjake]

Can kicking kills when you run into a wall.  The market drop is two fold.  1) the ongoing problems in the EU which federally is worse than  the US before the Constitution.  A unified monetary union without a federal fiscal authority was a recipe for failure going back to the 90s when they made the compromises to create it.  2) The Fed's operation twist and not a 3rd round of QE.  Downward pressure on the yield curve hurts two entities.  People who save money and get income from interest and banks.  The Fed has been giving the middle finger to savers for 3 years.  Bankers are about to feel some significant pain.

[NHSparky]

Bankers aren't going to feel shit.  We are.

And writing down half of Greece's debt?

Where's MY ****ing handout, mother****ers?

[Eupher]

Ah, I see ATJ has struck again.

Sorta like a broccoli fart.

[Wineslob]

Ah, I see ATJ has struck again.

Sorta like a broccoli fart.

 Plus I'll bet he smells like a wet dog. Time for the Beano.