The ghost of Amadeus returns to haunt Greek leader Papandreou

2:37 PM amadeus, greek, papandreou, song, youtube No Comments

Those crazy activists on You-Tube have once again taken a vital news item and turned it into a creative work of art.

Disclaimer - There is a four letter word that is an intrical part of the song, so please refrain from watching if you are offended.

Courtesy of Dave Balliu

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Why does Greece matter to the US markets?

12:52 PM angel clark show, debt ceiling, default, delmarva, greek, us banks No Comments

Yesterday, I spoke on the Angel Clark radio show out of Delmarva, Delaware, and one question she asked was very pertinent to the direction our economy will take, dependent upon the resolution.

How does Greece affect the United States?

Here is a picture of the amount of Greek debt owned by US, and other European Banks, and the repurcussions that a default by the decendants of Sparta, Thebes, and Athens would create.

You will notice that the US holds more bank debt than sovereign debt, and not only would they take the losses from a Greek default, but it would trigger more losses as other Euro banks default themselves for their holdings.

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