Is talk of a “Grexit” the Smoke Screen for a Global Economic Meltdown?

Jim Grant joins the lovely Lauren Lyster tonight to discuss the ‘Grexit’.

Today, the major financial news outlets have again turned their focus to Europe. The economic downturn there has persisted, for some countries, going on 5 years, with no end in sight.

Talk of a Greek exit – the “Grexit” as it has been dubbed – is the “talk of the town.” Will Greece exit the Euro, what will this mean for the other economies, for the people of Europe, for the people of the world…

We look at charts, at numbers, at fancy statistics that tell us whether we grew by half a point here or contracted by a quarter of a point there. Today, we learnedthat the Eurozone member economies jointly contracted this month at the fastest pace in almost three years. Some will ask: what does this mean or why did this happen?

Our Guest, Jim Grant, has answers.

Comments

  1. Greece 10. Eurozone 0. The first to go has homefield advantage.

  2. There is no Jim Grant in this episode…

  3. 2 oz, I nearly lost my breakfast when I saw that image you put up, but tossed a coin in your direction anyway.

  4. Is talk of a “Grexit” the Smoke Screen for a Global Economic Meltdown?

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    Hmmm…let’s review:

     

    1)  Once upon a time everybody was piling $$$ into tech stocks.  Some folks said this was a bubble, and that it would burst.

         It burst.

    2)  Then there everybody was piling $$$ into real estate because the Banks loaned money to anybody with a pulse.  Some folks said this was going to end badly.

         It ended badly.

    3)  The European Union formed and created its own currency, to be used by many nations with different cultures, financial systems, and agendas.  Now, some folks are saying this will precipitate a global economic crash. 

    Guess what is coming, fellow SD’ers?

  5. LOL. Sorry about that Mammoth. Didn’t mean to mess up your breakfast. Good little story there. True.

  6. Let’s Play Guess the Future–Sponsored By Jake

    My guess on the “Grexit” is that initially, it’ll provide support to the Euro as uncertainty will be temporarily lifted. This must be known by the banksters. As usual, timing is everything to these ponzi-schemers. They want to prolong the inevitable for as much milk as it’ll give by having meetings and free lunches with Christine Lagarde, Francious Hollande, Jean-Claude Junker and Wolfgang Schauble.

    Eventually, they’ll have to announce the “Exit”. Anticipation of the “Grexit” will of course, be triggered by their press leaks to the effect, they’ve prepared for an “orderly exit by Greece so that they can implement their austerity and growth plans” after the elections on June 17th. I think these press leaks of a actual date when the exit will take place should happen in July.

    Prior to this, around the end of June, my guess is they’ll smash the Euro and gold/silver again to the lows (maybe the Euro goes to 1.23 or so). Once the anticipation sets in for a Greek exit in July, they’ll announce the exit for first quarter 2013 as already reported.

    So, I’m guessing we have another smash to the $26 area to look forward to in silver before July 4th after this fizzler rally we’re in now exhausts under $30. As you probably remember, I guessed that we’d see wiggling in the silver price between $28-$31 or so between now and July 4th.

    Once the Grexit date is known after mid-July, we should see a rally in the EURO/Silver/Gold and a smash in the dollar into August-September.

  7. Sounds good Jake.

    Let’s see what actually transpires.  Meanwhile, I am exercising restraint in not backing up the truck and filling up just yet,,,

  8. One year Greek gov’t bonds are up to 1,143.11900 as of my comment posting.  Sterling…where are you…?

    http://www.bloomberg.com/quote/GGGB1YR:IND

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