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  • #234,341
  • May 2, 2010 1:57am May 2, 2010 1:57am
Quoting The Fool
If you're a big country with lots of natural resources that the world at large needs then you can contemplate default and see light at the end of the tunnel.

If all you got is a bunch of B&B's nobody gives a shit about that and default means nobody will lend you money again for a generation or more.

Where do you think the money has come from to keep the ferries & airlines running, to pay all those pensions for 45-year old civil servant retirees? Sure as hell not from the non-existant tax revenues.

Greece should be cut loose from the EMU and...
Nail on the fooooking head! Words right out of my mouth
  • #234,342
  • May 2, 2010 1:57am May 2, 2010 1:57am
Quoting The Fool
What could well change is that the rank & file voters in Germany say fuck you to the sponging welfare states and abandon the EMU themselves. The EMU w/o Germany is like Elvis w/o sideburns, sunshades, & rhinestones - not pretty.
  • #234,343
  • May 2, 2010 1:58am May 2, 2010 1:58am
Quoting The Fool
What could well change is that the rank & file voters in Germany say fuck you to the sponging welfare states and abandon the EMU themselves. The EMU w/o Germany is like Elvis w/o sideburns, sunshades, & rhinestones - not pretty.
i would not co-sign for my brother-in law driving a new beamer that had no job. and wanted new boobies for his new 18 yr old girlfriend either.
those who can, do. those who cant, talk about those who can
  • #234,344
  • May 2, 2010 2:01am May 2, 2010 2:01am
it s envy speaking ... the public officials in greece retire at 53 ! apparently, since they learned that the government really meant business, thousands have applied for early retirement in the last weeks... working until you are 65 ~! thats very hard...
Andreyou
  • #234,345
  • May 2, 2010 2:02am May 2, 2010 2:02am
Quoting gatorinla
i would not co-sign for my brother-in law driving a new beamer that had no job. and wanted new boobies for his new 18 yr old girlfriend either.
Like you have been known to say though, we're all chained together at the ankles. Europe's credit crisis is probably just getting started and there's no way that's just going to be a troubling headline or two here....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #234,346
  • May 2, 2010 2:04am May 2, 2010 2:04am
oh and there was 2 explosions. the crane operator left his cab after the first (small explosion). he was climbing down the crane ladder when second explosion occurred. he and the crane were blown off the rig in the second explosion.
those who can, do. those who cant, talk about those who can
  • #234,347
  • May 2, 2010 2:10am May 2, 2010 2:10am
Quoting gatorinla
oh and there was 2 explosions. the crane operator left his cab after the first (small explosion). he was climbing down the crane ladder when second explosion occurred. he and the crane were blown off the rig in second explosion.
What do you hear about the SWAT teams dispatched early on? Is this being investigated as a terrorist act?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #234,348
  • May 2, 2010 2:14am May 2, 2010 2:14am
Quoting gatorinla
i would not co-sign for my brother-in law driving a new beamer that had no job. and wanted new boobies for his new 18 yr old girlfriend either.
NINJAs in the US started the banking crisis and shutdown international money markets back in 2007. It happens EVERYWHERE and people still turn a blind eye because they were making money. The likes of GS forsee the bubble burst and hedge against it for which the SEC are making loud noises now. It is easy to see ahead and what will happen, but most choose to ignore it.

Ireland is another classic example of the housing boom. They have 100,000s of empty homes, whole NEW estates rotting away and they will be bulldozed down. Complete and utter madness.

Bubbles people, they blow up and then they burst! Knowing when to get in and out is the key!
  • #234,349
  • Edited 2:28am May 2, 2010 2:15am | Edited 2:28am
http://www.aade.org/houston/study/Fl...0Cementing.pdf

Sounds like the engineers weren't too confident about the task being done that deep

And apparently happened before "Halliburton has been accused of performing a poor cement job in the case of a major blowout and destruction in the Timor Sea off Australia last August. An investigation is underway."


same process: rig fire over week before -> safety failure ->explosion ->major rupture -> oil everywhere!
  • #234,350
  • May 2, 2010 2:17am May 2, 2010 2:17am
Quoting The Fool
What do you hear about the SWAT teams dispatched early on? Is this being investigated as a terrorist act?
defiantly terrorism but what kind is the question. i hope its not a sucker bombed to lure people in then set off another when the emergency people arrive. it had propane and gasoline. i haven't heard about any fertilizer ect.
usually with petro you got a nitrate. mayor bloomberg did a news conference and said yadda yadde propane and gas cans..i didnt pay attention .
those who can, do. those who cant, talk about those who can
  • #234,351
  • May 2, 2010 2:23am May 2, 2010 2:23am
Quoting bbakker
Bubbles people, they blow up and then they burst! Knowing when to get in and out is the key!
Yup. Investing in these inflated markets (bubbles) can be very profitable with the right timing. It was pretty obvious that the real estate market was going to blow up. Where I'm at in south Florida we saw home values nearly triple within a 2-3 year span in some areas. Since I was into real estate, I also saw that many buyers were getting 100% financing with a 3 year Adjustable Rate Mortgage (ARM) for a $400K home when they were making $50k per year. The math didn't add up. And there were lots of these type of buyers. Same thing when oil was at $140/barrel. More recently when gold climbed up over $1200/ounce just after setting a new all time high at ~$1035. After peaking at $1225 it eventually came back to test the previous high. Was good money to be made there. Of course picking the absolute top or bottom is nearly impossible, but you can get close. It's not always hard to succeed if you know where to look.
  • #234,352
  • May 2, 2010 2:27am May 2, 2010 2:27am
Quoting bbakker
NINJAs in the US started the banking crisis and shutdown international money markets back in 2007. It happens EVERYWHERE and people still turn a blind eye because they were making money. The likes of GS forsee the bubble burst and hedge against it for which the SEC are making loud noises now. It is easy to see ahead and what will happen, but most choose to ignore it.

Ireland is another classic example of the housing boom. They have 100,000s of empty homes, whole NEW estates rotting away and they will be bulldozed down. Complete and utter madness....
i timed the last housing one well.
those who can, do. those who cant, talk about those who can
  • #234,353
  • May 2, 2010 2:27am May 2, 2010 2:27am
http://news.bbc.co.uk/1/hi/world/europe/8653949.stm?ls
  • #234,354
  • May 2, 2010 2:30am May 2, 2010 2:30am
Quoting gatorinla
defiantly terrorism but what kind is the question. i hope its not a sucker bombed to lure people in then set off another when the emergency people arrive. it had propane and gasoline. i haven't heard about any fertilizer ect.
usually with petro you got a nitrate. mayor bloomberg did a news conference and said yadda yadde propane and gas cans..i didnt pay attention .
What kind should be known soon. Maybe it's a test to analyze response and time of response. What I would like to know is who?
  • #234,355
  • May 2, 2010 2:34am May 2, 2010 2:34am
Quoting gatorinla
i timed the last housing one well.
Good for you. Millions didn't! What scares me is that the UK housing bubble did not burst, it deflated slightly and this month we see a 10% increase YoY! Yikes! This has been caused by low interest rates and the housing shortage in the UK... but this bubble will start to burst once interest rates start rising here!
  • #234,356
  • May 2, 2010 2:35am May 2, 2010 2:35am
Quoting 2+2=4ex
What kind should be known soon. Maybe it's a test to analyze response and time of response. What I would like to know is who?
GS
  • #234,357
  • May 2, 2010 3:33am May 2, 2010 3:33am
http://news.yahoo.com/s/ap/eu_greece_financial_crisis

pretty predictable, and the E/U will soar 50, maybe 100 pips...until the next shit/fan episode....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #234,358
  • May 2, 2010 4:04am May 2, 2010 4:04am
Quoting The Fool
What could well change is that the rank & file voters in Germany say fuck you to the sponging welfare states and abandon the EMU themselves. The EMU w/o Germany is like Elvis w/o sideburns, sunshades, & rhinestones - not pretty.
couldn't have thought of a better comparison myself
  • #234,359
  • May 2, 2010 4:13am May 2, 2010 4:13am
Quoting bbakker
GS

what ? Don't you like the Fabulous Fab ??
  • #234,360
  • May 2, 2010 4:16am May 2, 2010 4:16am
Quoting The Fool
http://news.yahoo.com/s/ap/eu_greece_financial_crisis

pretty predictable, and the E/U will soar 50, maybe 100 pips...until the next shit/fan episode....
I would wait to see what the details are like before taking a view on the reaction... if the Greeks can't sort out their structural and fiscal problems (or get the country to tow the line) then this could well be seen as good money after bad.
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