Greece is in finacial turmoil. Unfortuantly it mirrors the issues that the U.S just had. For the first time ever the U.S might need to default on a debt. This is becomming a huge issue, the fact that the financial giant of the world is struggling to get back on his feet. If we cannot escape these dire straits what can Greece to expect to do as they bring the entire European Union to its knees.

Although the West is struggling the Far East is doing quite well. China's exports are up almost fifty percent. In a time where most economies are in a downward spiral. China has increased their earning power via exports to almost fifty pecent. This spike in earning power was greatly aided by the governments stimulus spending. I would like the see the U.S be able to increase our exports by 50% via governent spending. Although stimulous spending helped it didnt not seem to have the fantastic effect that Chinnese spending did.

In another related story that shows how dire the U.S debt situation is we have stretched our debt to 221 billion. Gone are the paygo days of the Clinton Administration and now we are in the biggest financial hole that we have ever been in. I would really like to see the U.S make a positive move in this situation. Since we dug ourselves out of the deepest states of recession we have not made anymore positive steps forward. This bring me back to a favorite quote of mine if pro is the opposite of con what is the opposite of progress?

Greece has Euro market looking barish, Citigroup bailout, a sucess?

As I continue to follow the situation in Greece I am offically worried. No matter what policy makers do nothing seems to fix the situation. Although the situation is getting better thru the issuing of bonds as well as tax cuts and pension freezes this is a temporary fix. Yes, they may fix themselves in the eyes of the EU but how about the Greek people? It seems like the Greek government must rob its own people to stay afloat and appease the rest of the European Union. I do not like the Greek tactics at all and will contiunue to follow this story as I wait for the country of Greece to sink.

In another Greek related story it looks as if the country is acutally considering selling some of its islands for profit to help raise money. This may be a good idea from the Greeks. With Germany just having climbed out of its post war recession and no other countries in sight to keen on bailing the Greeks out it will be up to them to raise thier own money and fix thier financial disaster as a country not as a part of the European Union. I am very happy to hear this becasue countries should begin to have to take responsability for their own spending. I would like to know what happened to the pay as you go policy of spending? It seemed to be very effective, but as countries attempt to be bigger and more powerful they must spend more money then they have to keep up. Something needs to be done about this before the world at large because one large cycle of recession.

In positive U.S news the government feels that it will make money off the citigroup bailout investment. The U.S justified this investment to begin with by saying had citi group gone under the recession would have worsened. I am very glad to see some of the recession's problems looked at in the rearview mirror now simply because it means it is behind us. Hopefully we learned as a country the can and cannot of spending and will be able to prevent this in the future

This is a youtube video about why Greece is leading to a bear market for the Euro