Greece just wiped out US stock maket

[ralph]

same applies to government buildings and equipment Steve , go to lots of little Podunk towns and little villages and you see new state of the art police stations , new fire departments and equipment , numerous libraries , social [relief] agencies , social security and welfare and other gov buildings and their highly paid employees all paid for by FORCED collection of taxes . ------------------- At least banks , hospitals , car dealerships , restaurants , gun stores are built by private funding .

[GFB]

If you want to know what a giant fraud the banking system is, just look at the banks in any typical small towns. They are usually the only new buildings in town. Most businesses are in buildings at least 50 years old. A lot probably more than 100. Banking, warehousing people money, must be a teriffic money maker. Why is that? Simple, they create 90% of the money they lend out of thin air and loan it out at exhorbent interest rates. They have almost no cost and practically all profit.

Sounds like you need to get into the banking business.

[planosteve]

For the first 2 quarters, this is the worst stock market since 2010.

[jellowrestling]

For the first 2 quarters, this is the worst stock market since 2010.

So, if you're 22 and just started investing in January of this year, it's been pretty disappointing.

[GFB]

Greece out of cash by this weekend!

http://www.telegraph.co.uk/finance/econ ... ashes.html

[Mark]

Smoke arising from the Eccles Bldg this morning is black indicating that the FED printing presses are running full blast to pour fiat money into the stock market today.

The Fed does not pour money into the stock market.

The Fed does not even drip money into the stock market.

Please explain "quantitative easing."

[GFB]

Smoke arising from the Eccles Bldg this morning is black indicating that the FED printing presses are running full blast to pour fiat money into the stock market today.

The Fed does not pour money into the stock market.

The Fed does not even drip money into the stock market.

Please explain "quantitative easing."

The Fed bought treasury bills and mortgage based securities.

That is not the stock market.

The Fed does not invest in the stock market..I don't know if they EVER have.

[GFB]

I think that's about the 12th time you've said.."please explain" with regards to QE.

I guess you don't WANT to know.

[Mark]

If you believe the current value of the stock market is pure, then you are dead wrong.

[GFB]

If you believe the current value of the stock market is pure, then you are dead wrong.

I have no idea what "pure" stock market means.

The stock market is where it's at..at any given moment..for whatever reason..pure or impure.

Your job is to get in on it. I hope you are.

[GFB]

More scary Greek news

Greek banks prepare to raid deposits

http://www.ft.com/intl/cms/s/0/9963b74c ... z3etIFTznQ

[ralph]

aww , not scary , just a bit like 'Cyprus ' from a while back I think . Yep, more than expected by a smart guy if there are any Greeks that are smart . 30 percent haircut and I think that the guys with smaller amounts of savings don't get touched . -------------

[ralph]

they'll be alright if they have a bit of silver , gold , cash on hand that they have saved up over the years , some chickens , a paid up mortgage , some beans and most importantly amm0 and delivery systems plus they live away from the population centers . Just my theory .

[GFB]

they'll be alright if they have a bit of silver , gold , cash on hand that they have saved up over the years , some chickens , a paid up mortgage , some beans and most importantly amm0 and delivery systems plus they live away from the population centers . Just my theory .

No Ralph..silver and gold will be no help.

There is no money left in the country..unless they vote for a temporary bailout tomorrow.

When there is no money, there is no food or medicine or anything else, because the people that would have to stock their shelves to sell you these things have no money either.

Some stored food and guns would be nice, but I think very few people in Greece own guns.

Gold and silver would be nice paper weights, but soon there won't be any paper either.

[GFB]

..even cash in hand will eventually be of no help..other than to buy someone's boat and sail away for another country.

..but I doubt anyone would sell you their boat..they will have their own sailing to do.


Forget the car, the gas stations will have no gas.

[ralph]

my parents and Grandparents lived through similar bad conditions during the depression and my Grandparents considered it an unpleasent challenge . Chubby kids were said to be the children of poor farmers because at least they ate . The Greeks will be alright [maybe] . Maybe Russia will help out the Greeks , think they bailed out Cyprus , didn't they ??

[GFB]

This will be quite different.

[ralph]

well , have to watch and see what happens , should be interesting !! Probably going to be some rioting . Heard today that some protesters broke into a grocery store and were arrested for breaking in and distributing food .

[jellowrestling]

well , have to watch and see what happens , should be interesting !! Probably going to be some rioting . Heard today that some protesters broke into a grocery store and were arrested for breaking in and distributing food .

That's not "distributing". That's "stealing".

[ralph]

depends on point of view I guess , distributing or stealing , while I agree that it is stealing , well others see it differently JW !! I read about the same behaviour a few years ago happen in Spain .