Wednesday, June 15, 2011

Greek Credit

BBC News: "A top credit agency has cut Greece's rating, making it the least credit-worthy nation out of 131 countries it monitors.

The Greek government said the downgrade by Standard & Poor's - from B to CCC - ignored its efforts to secure funding. "

It is safe to say that if you are looking to secure funding, you deserve to have your national credit level cut.
If the greeks were American, they would just try and print their way out of this by creating new money out of thin air. Its a marvelous trick of central bankers and tyrannts everywhere. Inflationary monetary creation looks like it is working until it does not, then it bursts like an Icelandic volcano.

I'm going to go buy some yogurt, I like this idea of throwing it as a protest. Protest for less government spending, rather then more of it. These Greek protesters are trying to further ruin their country.

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