Silly Fools....Why Pick on Greece????
America's governments are borrowing $2 trillion dollar per year, last year our public companies borrowed about a trillion and a half. Despite approaching $4 trillion in borrowing by Wall Street companies and government, our economy is still contracting.
$2 Trillion in perspective.......HALF OF CHINA'S GDP.
And now that millions of workers are continuing to get fired or lose jobs every month, the tax receipts to government continue to shrink.......and without tax receipts, America's problem will make Greece seem like a little Dolmathes compared to our huge Mousaka.
The only reason many of our banks have not shut down is because they are failing to mark assets to fair value as we continue to extend and pretend while we are passing judgment on the rest of the world???
Pretty funny if you think about it...we pass judgment as we are probably encouraging the BIGGEST FRAUD IN HUMAN HISTORY.....while Madoff and Petters sit in jail......strange times indeed.
So today, Detroit issues municipal bonds without any disclosure and simply indicating it may go bankrupt....but due to never ending profits from selling SWAPS......nobody seems to care as America shuts down from being Zombulated due to an unservicable burden of debt.
And some judge Greece???? Just wait, the Greeks have a long history of confronting adversity.....and the Greek private economy has no where close to the leverage as ours.......but the time is coming where Wall Street will cut off government, and when that happens........all will know the Zombulator.