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Just In!!! S&P Says Greek Default is Imminent!!!

 
Nickadeemus
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01/16/2012 11:46 AM
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Just In!!! S&P Says Greek Default is Imminent!!!
These guys are like the bad news effing bears. The S&P issues statement saying Greece is smoked.


[link to www.zerohedge.com]

Nick®
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BRIEF
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01/16/2012 11:47 AM

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Re: Just In!!! S&P Says Greek Default is Imminent!!!
These guys are like the bad news effing bears. The S&P issues statement saying Greece is smoked.


[link to www.zerohedge.com]

Nick®
:nickbeer:
 Quoting: Nickadeemus


It's their job to know...like watching rats flee the sinking ship...
With freedom comes responsibility.

Heterosexual pride!

Briefcut4892
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01/16/2012 11:49 AM
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Re: Just In!!! S&P Says Greek Default is Imminent!!!
They should default, by definition sovereign debt in non-secured. Then Italy, Portugal, Spain and Ireland can all default as well.
Anonymous Coward
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01/16/2012 11:50 AM
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Re: Just In!!! S&P Says Greek Default is Imminent!!!
Nuke S&P!

Twice. From orbit.

It's the only way to be sure... yeahsure
Revbo™
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01/16/2012 11:51 AM

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Re: Just In!!! S&P Says Greek Default is Imminent!!!
I love Zerohedge. chuckle

"The only thing he did not add is that the default will be Coercive. What happens next is anyone's guess, but whatever it is it is certainly priced in. Also, let's not forget that the inability of the market to react to any news ever again is most certainly priced in."

Heya, Nick. hi


Oh yeah. 5 big stars and a pin suggest. If they don't get around to it soon, I'm gonna slap a green one on you.

Last Edited by Revbo™ on 01/16/2012 11:53 AM
Rev. 21:4 He will wipe every tear from their eyes. There will be no more death or mourning or crying or pain, for the old order of things has passed away.
Revbo™
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01/16/2012 11:52 AM

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Re: Just In!!! S&P Says Greek Default is Imminent!!!
Nuke S&P!

Twice. From orbit.

It's the only way to be sure... yeahsure
 Quoting: Anonymous Coward 8596148


Something surely did crawl up in their asses recently, huh?

Maybe a little shot of integrity? Naw, couldn't be that.
Rev. 21:4 He will wipe every tear from their eyes. There will be no more death or mourning or crying or pain, for the old order of things has passed away.
Anonymous Coward
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01/16/2012 11:52 AM
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Re: Just In!!! S&P Says Greek Default is Imminent!!!
Can anyone explain to me what exactly happens to a country that defaults on it's debt ?

What are the immediate implications for it's citizens ?
Anonymous Coward
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01/16/2012 11:55 AM
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Re: Just In!!! S&P Says Greek Default is Imminent!!!
A little explanation for us financially challenged out here...

Just how would an actual default change things? Everyone knows it's coming. Would the actual default trigger something? Are there many out there who thought this wouldn't really happen? It's hard to believe there are financial people out there who are surprised by this, and who haven't positioned themselves already.

And I would think everyone already knows what will follow.
Janie SmithModerator
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01/16/2012 11:56 AM

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Re: Just In!!! S&P Says Greek Default is Imminent!!!
Can anyone explain to me what exactly happens to a country that defaults on it's debt ?

What are the immediate implications for it's citizens ?
 Quoting: subzero86


The country will have no ability to borrow. All services provided by the govt, including pensions are likely to cease. This has a strong possibility of leading to greatler civil unrest.

Basically, Greece will become 2nd world until they can get reorganized & their finances under control.
Life is karma and karma always reflects both past and present circumstance. Our time here is short, so choose carefully and behave well, for all of your tomorrows are presently being decided.

"Don't die on a small cross..." Saddletramp's Mom

"A fool thinks himself to be wise, but a wise man knows himself to be a fool."
-- William Shakespeare, born April 23, 1564.

Janebroom
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01/16/2012 11:56 AM
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Re: Just In!!! S&P Says Greek Default is Imminent!!!
Can anyone explain to me what exactly happens to a country that defaults on it's debt ?

What are the immediate implications for it's citizens ?
 Quoting: subzero86


When countries default on their debts, it doesn’t work the same as when individuals declare bankruptcy. In many cases, the default results in restructuring, and the debt is repaid over a longer period of time, or new terms are hammered out, or some of it is forgiven (but this doesn’t happen much for wealthy, developed nations). What really happens when a country defaults on its sovereign debt is that confidence in that country’s assets is reduced.


[link to www.depositaccounts.com]
One of the biggest tragedies of human civilization is the precedence of chemical therapy over nutrition. It's the substitution of artificial therapy over natural, of poisons over food, in which we are feeding people poisons trying to correct the reactions of starvation." Dr. Royal Lee, 1935
Anonymous Coward
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01/16/2012 11:56 AM
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Re: Just In!!! S&P Says Greek Default is Imminent!!!
Lol...The US will default too! 15 Trillion in debt and counting! The US can't ever pay this debt back....They will default at some point
BRIEF
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01/16/2012 11:56 AM

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Re: Just In!!! S&P Says Greek Default is Imminent!!!
Can anyone explain to me what exactly happens to a country that defaults on it's debt ?

What are the immediate implications for it's citizens ?
 Quoting: subzero86


:COPAFEELPANICSEX:
With freedom comes responsibility.

Heterosexual pride!

Briefcut4892
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Re: Just In!!! S&P Says Greek Default is Imminent!!!
owsscolism
One of the biggest tragedies of human civilization is the precedence of chemical therapy over nutrition. It's the substitution of artificial therapy over natural, of poisons over food, in which we are feeding people poisons trying to correct the reactions of starvation." Dr. Royal Lee, 1935
Anonymous Coward
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01/16/2012 11:56 AM
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Re: Just In!!! S&P Says Greek Default is Imminent!!!
Can anyone explain to me what exactly happens to a country that defaults on it's debt ?

What are the immediate implications for it's citizens ?
 Quoting: subzero86


I'm no expert but I think what will happen is that anyone holding their bonds will get hosed, that is why interest rates on their 10 year bonds hit over 400% recently, they are a huge risk.

Of course there could be "haircuts" on the bonds, like say maybe 50% but I think Greece will just default and get kicked from the EU. Then they will have to go back to the Drachma and try to sell their own debt in the markets. But the markets are debt junkies so even with a default I'm sure they will be able to sell bonds soon.

pennywise
Nickadeemus (OP)

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01/16/2012 11:57 AM
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Re: Just In!!! S&P Says Greek Default is Imminent!!!
These guys are like the bad news effing bears. The S&P issues statement saying Greece is smoked.


[link to www.zerohedge.com]

Nick®
:nickbeer:
 Quoting: Nickadeemus


It's their job to know...like watching rats flee the sinking ship...
 Quoting: BRIEF



chuckle

Me too!

Nick®
Pure Life; Get it on...
Janie SmithModerator
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01/16/2012 11:57 AM

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Re: Just In!!! S&P Says Greek Default is Imminent!!!
A little explanation for us financially challenged out here...

Just how would an actual default change things? Everyone knows it's coming. Would the actual default trigger something? Are there many out there who thought this wouldn't really happen? It's hard to believe there are financial people out there who are surprised by this, and who haven't positioned themselves already.

And I would think everyone already knows what will follow.
 Quoting: Anonymous Coward 8845606


Most of us are only surprised it has taken this long.

If Greece defaults, expect several other EU countries to follow, It indicates the beginning of the end as far as how finances in the Western world have been executed. OBTW, the US will not be far behind.
Life is karma and karma always reflects both past and present circumstance. Our time here is short, so choose carefully and behave well, for all of your tomorrows are presently being decided.

"Don't die on a small cross..." Saddletramp's Mom

"A fool thinks himself to be wise, but a wise man knows himself to be a fool."
-- William Shakespeare, born April 23, 1564.

Janebroom
Killer Bunny mockingjay
Revbo™
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01/16/2012 11:58 AM

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Re: Just In!!! S&P Says Greek Default is Imminent!!!
Can anyone explain to me what exactly happens to a country that defaults on it's debt ?

What are the immediate implications for it's citizens ?
 Quoting: subzero86


For Greece, it probably means they're going to have to learn to fish and farm for a while, because nobody's going to lend them a dime for a long time. They'll probably get kicked out of the Euro, or voluntarily withdraw, and go back to the drachma. It'll be worth exactly jack shit, so that should be pretty good for tourism, but they won't get paid much by the tourists who show up, because, again, their new drachma will be worth jack shit.

It's really just more austerity, but it will be forced on them by the Great Invisible Hand more than Angela Merkel.
Rev. 21:4 He will wipe every tear from their eyes. There will be no more death or mourning or crying or pain, for the old order of things has passed away.
Anonymous Coward
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01/16/2012 11:58 AM
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Re: Just In!!! S&P Says Greek Default is Imminent!!!
These guys are like the bad news effing bears. The S&P issues statement saying Greece is smoked.


[link to www.zerohedge.com]

Nick®
:nickbeer:
 Quoting: Nickadeemus


Well on S&P's track record, Greece should find Gold and Silver deposits in abundance in some previously unknown mine sonewhere anytime soon.

whatever
Janie SmithModerator
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01/16/2012 11:58 AM

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Re: Just In!!! S&P Says Greek Default is Imminent!!!
5 Stars, Nick!

Pin It Kitty
Life is karma and karma always reflects both past and present circumstance. Our time here is short, so choose carefully and behave well, for all of your tomorrows are presently being decided.

"Don't die on a small cross..." Saddletramp's Mom

"A fool thinks himself to be wise, but a wise man knows himself to be a fool."
-- William Shakespeare, born April 23, 1564.

Janebroom
Killer Bunny mockingjay
Nickadeemus (OP)

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01/16/2012 11:58 AM
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Re: Just In!!! S&P Says Greek Default is Imminent!!!
Thanks MODS for the Super PIN.

Very Cool of Ya. Just tryin to warn some folks.

Nick®
sword 2
Pure Life; Get it on...
BRIEF
Rebel with morals

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01/16/2012 11:59 AM

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Re: Just In!!! S&P Says Greek Default is Imminent!!!
5 Stars, Nick!

Pin It Kitty
 Quoting: Janie Smith


:quietdog:


That could be a cat too, couldn't it?
With freedom comes responsibility.

Heterosexual pride!

Briefcut4892
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01/16/2012 12:00 PM
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Re: Just In!!! S&P Says Greek Default is Imminent!!!
This will be the Lehman moment of the new recession.
Anonymous Coward
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01/16/2012 12:00 PM
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Re: Just In!!! S&P Says Greek Default is Imminent!!!
Imminent as in when?
NUTRAMAC

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01/16/2012 12:01 PM
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Re: Just In!!! S&P Says Greek Default is Imminent!!!
5 Stars, Nick!

Pin It Kitty
 Quoting: Janie Smith


:quietdog:


That could be a cat too, couldn't it?
 Quoting: BRIEF


stfuloser




2897gbdmba
One of the biggest tragedies of human civilization is the precedence of chemical therapy over nutrition. It's the substitution of artificial therapy over natural, of poisons over food, in which we are feeding people poisons trying to correct the reactions of starvation." Dr. Royal Lee, 1935
Nickadeemus (OP)

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01/16/2012 12:02 PM
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Re: Just In!!! S&P Says Greek Default is Imminent!!!
A little explanation for us financially challenged out here...

Just how would an actual default change things? Everyone knows it's coming. Would the actual default trigger something? Are there many out there who thought this wouldn't really happen? It's hard to believe there are financial people out there who are surprised by this, and who haven't positioned themselves already.

And I would think everyone already knows what will follow.
 Quoting: Anonymous Coward 8845606


Most of us are only surprised it has taken this long.

If Greece defaults, expect several other EU countries to follow, It indicates the beginning of the end as far as how finances in the Western world have been executed. OBTW, the US will not be far behind.
 Quoting: Janie Smith



And-

A true Greek default would allow a "CDS event" to trigger. This has not happened yet in the "restructureing" process. ANY true/agreed haircut for bondholders near 50% will trigger and immediate CDS event. When this happens, EVERYTHING GOES.

Nick®
Pure Life; Get it on...
Anonymous Coward
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01/16/2012 12:02 PM
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Re: Just In!!! S&P Says Greek Default is Imminent!!!
Can anyone explain to me what exactly happens to a country that defaults on it's debt ?

What are the immediate implications for it's citizens ?
 Quoting: subzero86


When countries default on their debts, it doesn’t work the same as when individuals declare bankruptcy. In many cases, the default results in restructuring, and the debt is repaid over a longer period of time, or new terms are hammered out, or some of it is forgiven (but this doesn’t happen much for wealthy, developed nations). What really happens when a country defaults on its sovereign debt is that confidence in that country’s assets is reduced.


[link to www.depositaccounts.com]
 Quoting: NUTRAMAC


How did Iceland do it? and how are they doing now?
Anonymous Coward
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01/16/2012 12:03 PM
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Re: Just In!!! S&P Says Greek Default is Imminent!!!
S&P:

clappa

Any dumb child knows that Greece is done.
I would like to know the salaries of the S&P guys.
Seems that you don't have to be to smart to work for them...

cruise
QuinEtiam

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01/16/2012 12:03 PM
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Re: Just In!!! S&P Says Greek Default is Imminent!!!
This is good DOOM. Greece drops, brings down Italy, Spain and Ireland. Germany and France pull out of Euro. World rushes to greenback causing super-inflation then lights-out.

Get your money into cash right now.
It only hurts for a minute
Janie SmithModerator
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01/16/2012 12:03 PM

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Re: Just In!!! S&P Says Greek Default is Imminent!!!
5 Stars, Nick!

Pin It Kitty
 Quoting: Janie Smith


:quietdog:


That could be a cat too, couldn't it?
 Quoting: BRIEF


Bad Brief!!!! LMAO!!

Ticked Off kitty
Life is karma and karma always reflects both past and present circumstance. Our time here is short, so choose carefully and behave well, for all of your tomorrows are presently being decided.

"Don't die on a small cross..." Saddletramp's Mom

"A fool thinks himself to be wise, but a wise man knows himself to be a fool."
-- William Shakespeare, born April 23, 1564.

Janebroom
Killer Bunny mockingjay
NUTRAMAC

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United States
01/16/2012 12:05 PM
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Re: Just In!!! S&P Says Greek Default is Imminent!!!
This is good DOOM. Greece drops, brings down Italy, Spain and Ireland. Germany and France pull out of Euro. World rushes to greenback causing super-inflation then lights-out.

Get your money into cash right now.
 Quoting: QuinEtiam


INTO CASH?????


rtgfbh6777



coolst
One of the biggest tragedies of human civilization is the precedence of chemical therapy over nutrition. It's the substitution of artificial therapy over natural, of poisons over food, in which we are feeding people poisons trying to correct the reactions of starvation." Dr. Royal Lee, 1935
Janie SmithModerator
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01/16/2012 12:05 PM

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Re: Just In!!! S&P Says Greek Default is Imminent!!!
Thanks MODS for the Super PIN.

Very Cool of Ya. Just tryin to warn some folks.

Nick®
sword 2
 Quoting: Nickadeemus


Yay!!! Super PIN!!! PIN Kitty never fails!!!

Dancing Kitty
Life is karma and karma always reflects both past and present circumstance. Our time here is short, so choose carefully and behave well, for all of your tomorrows are presently being decided.

"Don't die on a small cross..." Saddletramp's Mom

"A fool thinks himself to be wise, but a wise man knows himself to be a fool."
-- William Shakespeare, born April 23, 1564.

Janebroom
Killer Bunny mockingjay

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