To hell with Portugal. To hell with them all.........Maybe they will bail us out......Gezzzzz Are we the keeper of the world????
Portugal Is Next: Improverished PIIG Demands US Assistance, Debt "Haircut" To Come Next
Submitted by Tyler Durden on 10/29/2011 - 17:32 European Central Bank Eurozone Evans-Pritchard Germany Greece Gross Domestic Product Henderson Ireland Italy M1 Mexico MF Global Monetary Trends Monetary Trends Money Supply Portugal Quantitative Easing Reuters Sovereign Debt
It has been just over 48 hours since our call that PIIGS the world over will scramble to demand the same concessions that were just granted to Greece courtesy of its economy being in the toilet and getting worse (thanks to lies to misrepresent the Greek economy as being worse than it really was). We already got Ireland yesterday. Now it is Portugal's turn. Reuters reports that "Portugal asked Mexico on Saturday to tell fellow G20 members next week that the United States should offer "financial help" to resolve the euro zone sovereign debt crisis, describing it as a "systemic and global" problem, a Portuguese government source said." Of course, the "US" is a clear proxy for "everyone else" - that the US, whose politicians can't agree on a fiscal stimulus for the US, let alone for some country by the straits of Gibraltar they have never heard of, will not move an inch to save Portugal is a given. Which means that once Portugal is, as it anticipates perfectly well, shut down by the US it will commence demanding for help from those who at least can grant it - the EMU and the Eurozone. And when those refuse, Portugal will do the glaringly obvious: take a page right out of the Greek textbook and proceed to suicide its own economy. And why not - it worked miracles for Greece. Now: two down and two to go. The only question is when does Italy do precisely the same logical next step, and tell the world that its $2+ trillion in debt, the second most in the Eurozone after only Germany, is unsustainable, and will need a modest haircut. 20% should do it. We wonder, what will that do to French banks (and their "perfectly hedged" US proxies - such as MF Global and others)?
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http://www.zerohedge.com/news/portugal-next-improverished-piig-demands-us-assistance-debt-haircut-come-next
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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