Whispers of a New Financial System...
Posted 18 August 2012 - 10:46 AM
i have said for a # of years similar to what Soros is saying. panic and fear and waves of irrational behavior make for bad times. but it wont be localized. when people feel boxed in they come out swinging and i think if things dont get fixed, thats exactly where we are heading.
Posted 18 August 2012 - 04:32 PM
Assuming that somehow the EURO PIIGS stave off the inevitable until then, the global economic downturn should be enough to force several of those countries into national bankruptcy and potentially eliminate the Euro as viable currency.
Considering Greek economic uncertainty alone was enough to drive the NYSE down by hundreds of points, you can imagine what the above scenario would do to our economy.
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