Is the end near?

[Alph]

Tinker,

Greece accepted no loss. The people who Greece owed money too (bond holders) took a loss.

Mr. Perfect,

I've been busily relocating to Europe recently, and I think your perspective is largely correct. Europe is like the US, but worse and better. Worse in economic reality, better in practice through superior suspension of disbelief and more powerful central authority. (It is also fundamentally poorer in ways most Americans or Europeans don't appreciate.) The EU will likely collapse and the Euro with it (or vice versa.) But it won't be any more an end of the economic world situation than the housing collapse before it was.

Demon of Undoing,

Many powerful organizations and brilliant individuals are implementing plans to correct this problem. Unfortunately, political realities make the problem impossible to solve, and furthermore make it impossible for the political system to accept this impossibility. Europe is still in the denial phase of accepting its own death.

[Demon of Undoing]

[Tinker]

[Demon of Undoing]

When they go to borrow, they will get pretty much the same thing that you get when trying to hock a Betamax at a pawn shop.

[Alph]

[Azrael]

[AzariLoveIran]

[AzariLoveIran]

[monster_gardener]

[lzzrdgrrl]

America is in denial of causing her own death. Optimism or pessimism aside, you can break anything if you try hard enough. Two things govern the public mind - they want troublesome things to be over and want their participation in them to be done. Can't do that and can't have that is the iron law here.......

Outside of what any political or economic authority does or even before the protests really wind up, you'll hear this dull snap. That's the sound of the great Ship of State heading towards rubble, and the best thing to do at this point is to manage how the people can get out of it.....

[AzariLoveIran]