PIIGS

February 13th, 2010 | by admin |

Senior Editor Paddy Hirsch explains why problems with certain European countries sovereign debt could blow the house down.

Duration : 0:2:50


[youtube -loLBrlnnxQ]

  1. 15 Responses to “PIIGS”

  2. By strokjl on Feb 13, 2010 | Reply

    Too bad we don’t …
    Too bad we don’t have much stuff to be selling to Europe. I’m more worried about our own currency crisis. The rest of the world will realize sooner or later that the US gov is in the same boat with the PIIGS. The problem for the Euro countries is that they can’t just print more money. That’s the only thing keeping the US from the same frying pan, inflating the monetary supply.

    And that IS Keynsian.

  3. By realcarboncredits on Feb 13, 2010 | Reply

    Not the issue. The …
    Not the issue. The US banking maffia is the issue.

  4. By herbs814 on Feb 13, 2010 | Reply

    @Gyrode

    Right, …
    @Gyrode

    Right, too many governments are only interesting in increasing spending, while they refuse to cut taxes. Also, classic Keynesianism says that governments should run SURPLUSES in good years, instead of looking for ways to spend all the tax revenue that comes in.

  5. By ewap8 on Feb 13, 2010 | Reply

    America does indeed …
    America does indeed need a drink… *very badly* ;)

  6. By WizardKing78 on Feb 13, 2010 | Reply

    PIIGS is sooo the …
    PIIGS is sooo the buzz-word at the moment.

  7. By motelcalifornia on Feb 13, 2010 | Reply

    These are the same …
    These are the same countries that were ALWAYS in financial trouble after WWII
    —ALWAYS.

  8. By Gyrode on Feb 13, 2010 | Reply

    @Panpiper A lot of …
    @Panpiper A lot of investors fly to money market mutual funds, if they do not go to treasuries….the problem is the yield on mine is .01%…but there are online savings accounts offering 1.49% interest….annualized…and can change….also “diamond” stocks with good yields are proven the world over….like Johnson and Johnson, ATT etc.

  9. By Gyrode on Feb 13, 2010 | Reply

    @cosmosgato It is …
    @cosmosgato It is true that pseudo Keynesian “solutions” have made us wallow in debt…but there are countries with much worse debt as a % of GDP. The politicians don’t even follow Keynes! You have to -cut- taxes and increase deficit spending…they don’t even do that!

  10. By 0musing on Feb 13, 2010 | Reply

    So Ben Bernanke …
    So Ben Bernanke played a master stroke?!! When he convened a meeting of central bankers and encouraged them to go on a money printing spree…looks like PIIGS being led to slaughter! US $ will gain ground as China also refuses to let the yuan appreciate..

  11. By cosmosgato on Feb 13, 2010 | Reply

    Quality is a …
    Quality is a relative term.
    Yes USA is better than everyone else.
    Many don’t want to hear that but it is true
    Can you really imagine someone saying “I’m going Putin and the Russian ruble.”
    ROTFL

  12. By Panpiper on Feb 13, 2010 | Reply

    What really gets my …
    What really gets my goat is that in the “flight to quality”, investors are looking to the US dollar. As if the US was on a sound economic footing. Hah!

  13. By markpemble on Feb 13, 2010 | Reply

    As long as there …
    As long as there are enough people like me, the dollar will keep its current value.

  14. By scutter4christ on Feb 13, 2010 | Reply

    Thank you!
    Thank you!

  15. By hiphopsocnroc on Feb 13, 2010 | Reply

    Quick and simple, …
    Quick and simple, thanks.

  16. By cosmosgato on Feb 13, 2010 | Reply

    Go figure!
    I …
    Go figure!
    I thought it was America who’s currency was suppose to collapse for debt.

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