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View Diary: Global Credit Freeze (33 comments)

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  •  IMHO This Is Worse Then Our Crisis (4+ / 0-)

    cause it is a number of nations using the same currency. It will be trillions and trillions. I heard the other night for German to take the lead on bailing out Italy could be 10% of their GDP. Then of course our banks hold a lot of these bonds. The ripple will be more like a tidal wave to our side of the pond. This is very, very bad and nobody seems to be talking about it much here.

    You mentioned Spain and Italy. It is also Portugal and of course Greece. These dominoes will start to fall in a rapid manner.

    When opportunity calls pick up the phone and give it directions to your house.

    by webranding on Tue Nov 29, 2011 at 08:29:16 AM PST

    •  In a globalized economy all the crises (4+ / 0-)
      Recommended by:
      webranding, bruh1, 3goldens, NY brit expat

      are so interconnected that you can never really separate one from the other. The reality with Greece, Portugal and Ireland is that they are really very small economies. If the problems had been confined to them then the kinds of partial bailouts that the EU was concocting might have been able to contain the problem. Spain and Italy have economies that are exponentially larger.

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