re: "IMHO, all these bailouts are doing is stalling the inevitable."
Hard to say. In a world where nameless entities simply PRINT money, why shouldn't Greece be bailed out? Why not bail out homeowners and folks without medical insurance, too? (Oh, yeah, we ARE doing the latter.) It's not like it's THEIR wealth that's being redistributed or anything.
On the other hand, defaults of one sort or another are coming. Either Greece refuses to pay its bills, or it accepts a bailout that includes a hefty hit to those owning Greek debt, or the EU expands its own debt (upon which it will eventually default.) and bails Greece out FOR NOW.
IMO, the best situation is for Greece to default. Right now. Sock it to those who were stupid enough to take on Greek debt in the first place. The problem should rightfully belong to them.
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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