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Overunity Machines Forum



I see an economic diasater coming...

Started by the_big_m_in_ok, September 03, 2009, 01:05:30 AM

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Do you think the American economy will ever improve?

Yes, definitely
Possibly, in the long run
No, it will worsen
Undecided
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triffid

#2435
February 29, 2012, 12:22:43 PM
When Ron Paul predicts terrible things coming.Then I fear more than usual.triffid




Our government wants to raise taxes to raise money.They want to raise corporate taxes.More unemployment will be coming as a result as more money flees the usa for safer shores.

the_big_m_in_ok

#2436
February 29, 2012, 12:31:05 PM
Quote from: triffid on February 29, 2012, 12:22:43 PM
When Ron Paul predicts terrible things coming.Then I fear more than usual.triffid
Yeah, I have a place now.   At the end of the building is a martial arts dojo.   I night join.   People like me with Asperger's syndrome should know how to defend themselves against bullies.

--Lee
"Truth comes from wisdom and wisdom comes from experience."
--Valdemar Valerian from the Matrix book series

I'm merely a theoretical electronics engineer/technician for now, since I have no extra money for experimentation, but I was a professional electronics/computer technician in the past.
As a result, I have a lot of ideas, but no hard test results to back them up---for now.  That could change if I get a job locally in the Bay Area of California.

triffid

#2437
March 03, 2012, 06:08:08 PM
Some good news I guess .It looks like greece will get get its deal next week.   http://finance.yahoo.com/news/iifs-dallara-says-confident-greek-192929433.html  triffid

triffid

#2438
March 03, 2012, 06:09:29 PM
ATHENS (Reuters) - The chief negotiator for the body representing private sector holders of Greek bonds expressed confidence on Saturday that a bond swap deal which is a key part of Greece's bailout program would be completed successfully next week.[/size]
"We can sense in our discussions with investors that momentum is building," Charles Dallara, managing director of the International Institute of Finance (IIF), told Greece's Antenna television in an interview.[/size]
"I'm quite optimistic that the participation levels will be quite high," he said, but he declined to predict a figure.[/size]

the_big_m_in_ok

#2439
March 03, 2012, 07:37:51 PM
Quote from: triffid on March 03, 2012, 06:09:29 PM
ATHENS (Reuters) - The chief negotiator for the body representing private sector holders of Greek bonds expressed confidence on Saturday that a bond swap deal which is a key part of Greece's bailout program would be completed successfully next week.[/size]
"We can sense in our discussions with investors that momentum is building," Charles Dallara, managing director of the International Institute of Finance (IIF), told Greece's Antenna television in an interview.[/size]
"I'm quite optimistic that the participation levels will be quite high," he said, but he declined to predict a figure.[/size]
Not all of the article was included.   Thusly:
"Bondholders have until March 8 to sign up to the agreement under which they will exchange their existing Greek government bonds for new paper in a swap deal that will see the nominal value of their holdings cut by 53.5 percent.              Failure to secure a deal with private sector creditors would threaten the 130-billion-euro bailout package agreed last month with the European Central Bank, the European Union and the International Monetary Fund. Greece has said it would not be obliged to go through with the arrangement unless it gets 90 percent participation. If participation is below 90 percent but above 75 percent, it would consult with its public sector creditors.              Assuming a sufficient number of investors accept the deal, European leaders should give final approval to the bailout in a teleconference on March 9. Dallara said that any deal contained at least some risk of failure but he said the danger facing the bond swap deal, reached only after months of tortuous negotiations, was slight. He also played down concerns that the debt restructuring could trigger credit default swap contracts that some investors took out to protect themselves against the risk of default.              The International Swaps and Derivatives Association (ISDA), the body which rules on whether a so-called "credit event" that would trigger the CDS has occurred, decided on Thursday that Greece had not breached the terms of the insurance contracts.              Under the deal, private sector bondholders will be forced to accept a loss while Greece's public sector creditors will not and despite Thursday's ruling, investors could seek a further ruling from the ISDA that could trigger a CDS payout.              However, Dallara said he did not believe the CDS issue would derail the bond swap. "Of course, any individual investor may well ask for another ruling at some point. But this again does not trouble me and does not present a hurdle, ' " he said.




It's still not a done deal if the other countries might think this financial stunt won't stop the Greek financial decline.   I  did say someone has to take "a haircut", and this would be it.   Will it help?   We'll see eventually.

--Lee
"Truth comes from wisdom and wisdom comes from experience."
--Valdemar Valerian from the Matrix book series

I'm merely a theoretical electronics engineer/technician for now, since I have no extra money for experimentation, but I was a professional electronics/computer technician in the past.
As a result, I have a lot of ideas, but no hard test results to back them up---for now.  That could change if I get a job locally in the Bay Area of California.
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