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View Diary: If the Euro fails. (282 comments)

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  •  Siri, could you diary this in detail (12+ / 0-)

    You put it so clearly and we (the finance-non-literate) need to be educated by those of you who do understand this.

    This is the best description I have read re. 'the derivative game'.

    tx

    I belong to the “US” of America, not the “ME,$,ME,$,ME,$,ME,$” of America!

    by SeaTurtle on Sun Nov 27, 2011 at 12:38:24 PM PST

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    •  Thanks Sea Turtle (12+ / 0-)

      Belgium has an important bond auction tomorrow. If it goes like I think it will (not well), I think it will be very illustrative of the power of traders to push a country to the brink of default. I'll try to roll all this into a diary tomorrow though I'm really no financial expert.

      48forEastAfrica - Donate to Oxfam "Compassion is the radicalism of our time." ~ Tenzin Gyatso, 14th Dalai Lama -7.88, -6.21

      by Siri on Sun Nov 27, 2011 at 02:27:41 PM PST

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    •  simple version: gambling is still a sin. (5+ / 0-)
      Recommended by:
      SeaTurtle, Chi, mrsgoo, Siri, ozsea1

      And "the wages of sin are death."  In this case the financial death of those who thought they could get rich quick on high-stakes gambling.   They should have stuck to poker.  But tough shit for them: let them fall and then rebuild without them.  

      "Minus one vote for the Democrat" equals "plus one vote for the Republican." Arithmetic doesn't care about your feelings.

      by G2geek on Sun Nov 27, 2011 at 03:15:04 PM PST

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      •  yeah, but G2, won't their fall take us down, too? (5+ / 0-)
        Recommended by:
        Bronx59, Chi, mrsgoo, Siri, ozsea1
        But tough shit for them: let them fall and then rebuild without them.  

        at least it seems as though they have their gambling game rigged that way.  You know, privatize the profits, socialize the losses......

        would love to just take the attitude that they can go down the crapper... but I am afraid of all the innocent people who would go down with them?

        I belong to the “US” of America, not the “ME,$,ME,$,ME,$,ME,$” of America!

        by SeaTurtle on Sun Nov 27, 2011 at 03:19:23 PM PST

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        •  they're taking us down as it is. (3+ / 0-)
          Recommended by:
          mrsgoo, Siri, ozsea1

          Better to pull the plug on them and get it over with.

          As in, if you eat rotten food you can either puke it up and get it over with, or suffer food poisoning for days.  

          "Minus one vote for the Democrat" equals "plus one vote for the Republican." Arithmetic doesn't care about your feelings.

          by G2geek on Sun Nov 27, 2011 at 04:18:13 PM PST

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    •  It is quite simple, actually. Think of it as (2+ / 0-)
      Recommended by:
      Siri, SeaTurtle

      this: The entire neighborhood has taken out homeowners insurance on your house and even worse, has successfully lobbied to make arson completely legal.  How long do you think it would take before your house was torched in such a case?

      There is no saving throw against stupid.

      by Throw The Bums Out on Sun Nov 27, 2011 at 06:15:20 PM PST

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