REV: EUROCRISIS FOR DUMMIES

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Former Member

CHECK THIS:

Just over six months ago the following clip provided the most succinct explanation of the European crisis. It seems after this weekend's debacle and today's market wake-up call that a reminder is needed. Perhaps summed up best by the following interchange, this is five minutes well-spent:

Where does the money for the bailouts come from?
All the governments in Europe including Greece, Italy, and Spain.

And who is allowed to receive money from it?
All the governments in Europe including Greece, Italy, and Spain.

How can that possibly work?
It can't, but Europeans like bad ideas that sound nice!

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Former Member

Sounds like a lot of economics to me coming from the world's most useless profession. The video is very simplistic, BTW.

6/11/121:55 PM

Former Member

Originally Posted by Rev Al:

And who is allowed to receive money from it?
All the governments in Europe including Greece, Italy, and Spain.

This is misleading. Those governments don't actually receive any money. They are simply a conduit to the private banks. There is now talk of simply eliminating this middleman role, and pumping the trillions of bailout euros and dollars directly into the banks.

6/11/122:09 PM

Former Member

Originally Posted by Tar_K:

Sounds like a lot of economics to me coming from the world's most useless profession. The video is very simplistic, BTW.

Let me remind you what the subject line said:

"EUROCRISIS FOR DUMMIES"

The video may be simplistic for those who have a background in finance and economics---but 99+% of folks out there dont have such backgrounds---and so they may find it informative.

Rev

6/11/122:15 PM