Great Depression of 2016

[rebelcowboysnb]

Its a mess here. The Fort Oglethorpe Ga walmart just outside the Chickamauga Battlefield has somewhere around 300 confederate flags in the parking lot yesterday. I hear it got a bit rowdy. At the same time 5 people were burning one in the park... I have not been out an about but I am being told they are flying everywhere. Stores that have been selling them for years can not keep up with demand. Stores have started reporting shipments of flags on their FB pages Apparently the demand for them has went threw the roof all over the world. One store in Nevada if I remember right said they went from selling 5 or 6 a day locally to over 200 a day locally. The comments about the amount of sales going over seas is surprising too.

 

[rufus]

I wonder how many of those gay flags they sold?

I see Greece is headed for default on their payments to the IMF. The Greek politicians are pushing for a referendum on the austerity program. This is an attempt to push the guilt for the default off of them and onto the Greek people.

I am afraid this will not end well.

 

[MrsBrooke]

You're on Facebook?!?! Let's be friends!!! MrsB

 

[hemet dennis]

I wonder how many of those gay flags they sold?

I see Greece is headed for default on their payments to the IMF. The Greek politicians are pushing for a referendum on the austerity program. This is an attempt to push the guilt for the default off of them and onto the Greek people.

I am afraid this will not end well.

Well Greece defaulted, and the sky didn't fall !

 

[rufus]

Not yet, but we have to wait for the other shoe to fall. How many other banks and financial institutions are holding Greek bonds? We don't know.

What will happen when the Greek banks finally reopen? Hopefully, there will not be a cascade of defaults. The house of cards may come down, and then again it may not.

I see the Chinese finance minister said that the European Union should shore up the Greek economy and refinance the nation. But he offered no funds. That is like me praying for someone, but not helping at all.

The next month should prove to be very interesting.

 

[rufus]

Second thought. I wonder who made all of those Greek flags they were waving around in those demonstrations? I bet they were Chinese or Taiwan made.

 

[MrsBrooke]

Well Greece defaulted, and the sky didn't fall !

If you default on your mortgage, they don't take your house from you within the hour.

MrsB

 

[rufus]

Let's see how the vote goes tomorrow. Even if they vote for the austerity plan, the offer by the European Union is off the table. Drachma, drachmas, drachmas for every one. How will the new currency trade against others?

 

[hemet dennis]

Let's see how the vote goes tomorrow. Even if they vote for the austerity plan, the offer by the European Union is off the table. Drachma, drachmas, drachmas for every one. How will the new currency trade against others?

The vote is day after tomorrow.
Greece defaulted on their debt in 2011, so it's nothing new (as some fools claim).

Maybe they will change currencies. But they could stay in the EU with their own currency.

 

[rufus]

Well, at least you are paying attention Dennis. Let's see how this will turn out.

Sometimes, the IMF will intervene as they did for Mexico in the 1980's.