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Greece And Puerto Rico Spiraling The Drain?

Started by 4thgenFolsomite , Jun 29 2015 11:45 AM

whats next?

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13 replies to this topic

#1 4thgenFolsomite

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Posted 29 June 2015 - 11:45 AM

Pretty big financial news today. Any comments on this?

Knowing the past helps deciphering the future.

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#2 2 Aces

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Posted 29 June 2015 - 11:57 AM

It's complicated, but simple: when a Country (or a person) lives beyond it's means, the day of reckoning WILL come, and the result will be very difficult and/or devastating. Sound familiar??

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#3 camay2327

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Posted 29 June 2015 - 12:57 PM

My stocks are still hanging in there, so far at least.

A VETERAN Whether active duty, retired, national guard or reserve - is someone who, at one point in their life, wrote a blank check made payable to "The United States of America" for an amount "up to and including their life". That is HONOR, and there are way too many people in this country who no longer understand it. -Author unknown-

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#4 Sandman

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Posted 29 June 2015 - 03:01 PM

Tough day today on Wall St. Biggest one day loss of the year so far

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#5 folsom500

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Posted 29 June 2015 - 03:05 PM

Tough day today on Wall St. Biggest one day loss of the year so far

And earlier today they said the US markets would be minimally effected as they have little stake in it... Sad - we all loose now...

Another great day in the adventure of exploration and sight.

"Never doubt that a small group of thoughtful, committed people can change the world. Indeed, it is the only thing that ever has"
-Margaret Mead-

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#6 nomad

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Posted 29 June 2015 - 03:22 PM

Greek govt has been overly corrupt for many years, even worse than here in the US. If they bail from the EU it's gonna cause a huge mess.

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#7 folsom500

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Posted 29 June 2015 - 03:25 PM

Greek govt has been overly corrupt for many years, even worse than here in the US. If they bail from the EU it's gonna cause a huge mess.

I say it will be a "who Cares' at the end of the day--- they have no effect ( real that is ) on the major powers nor the EU... They are just a thorn now- let them leave and they will get on on their own- or not---

Another great day in the adventure of exploration and sight.

"Never doubt that a small group of thoughtful, committed people can change the world. Indeed, it is the only thing that ever has"
-Margaret Mead-

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#8 nomad

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Posted 29 June 2015 - 03:31 PM

I say it will be a "who Cares' at the end of the day--- they have no effect ( real that is ) on the major powers nor the EU... They are just a thorn now- let them leave and they will get on on their own- or not---

They have billions of dollars in debt they owe, this is way more than a "who cares" moment.

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#9 folsom500

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Posted 29 June 2015 - 03:57 PM

They have billions of dollars in debt they owe, this is way more than a "who cares" moment.

Maybe you can list 5 countries that do not have Billions of dollars in debt ... even 5 that have or will default on it- and the world basically has written them off as Who Cares'

This money is not a world matter- but sorry for those in country as we would feel it if our country defaulted as well- but the effect on World Markets is way beyond what really should be happening...

Another great day in the adventure of exploration and sight.

"Never doubt that a small group of thoughtful, committed people can change the world. Indeed, it is the only thing that ever has"
-Margaret Mead-

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#10 Carl G

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Posted 29 June 2015 - 04:10 PM

While the US direct exposure to Greece is relatively small, Europe's is quite large (1.1 trillion I think). If Europe tanks because of Greece, I fear the US will also have issues. I suppose the opposite could happen if there is a "flight to safety" and our markets goes up. In either case, invest for the long term and you'll be fine.

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#11 nomad

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Posted 29 June 2015 - 04:26 PM

While the US direct exposure to Greece is relatively small, Europe's is quite large (1.1 trillion I think). If Europe tanks because of Greece, I fear the US will also have issues. I suppose the opposite could happen if there is a "flight to safety" and our markets goes up. In either case, invest for the long term and you'll be fine.

You see that's the problem, there are no long term investments anymore. The days of handing your grand kids 500 shares of Union Pacific are over. Everything is millisecond trades that are robot controlled with banks propped up by govt debt. it's the same all over and it will impact US markets.

We'll see July 6th.

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#12 Carl G

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Posted 29 June 2015 - 06:35 PM

You see that's the problem, there are no long term investments anymore. The days of handing your grand kids 500 shares of Union Pacific are over. Everything is millisecond trades that are robot controlled with banks propped up by govt debt. it's the same all over and it will impact US markets.

We'll see July 6th.

I'm more of a mutual fund type of guy. My track record of picking stocks is very poor, but my track record of picking funds based on the recommendation of my advisor is pretty good.