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Is A Greek Default Now A Reality?

It is no secret that the situation in Greece is really bad. It was bad a while ago, and now it is just getting worse and worse by the day. They are making huge cuts and are almost liquidating the country, but they are still falling and making no signs of progress. Talks of a default were premature a few weeks ago, but as we stand now, it seems like it may be a reality.

Obviously, everyone is going to do all they can to prevent a Greek default and the Greek Finance Minister has said all along that a default is never going to happen, but it just seems that as time goes on, the negative effects of a default would be less than letting them continue to fall and bring everyone else around them down. We are all hoping there doesn’t come a time when everyone else just cuts the cord and lets them fail and then pick up the pieces, but it seems like it is becoming more and more likely every day.

 

Is China Going To Help Save The World? Don’t Count On It…

A lot of people are waiting to see Chinas response to the current situation elsewhere in the world. We have heard from countries like Brazil who plan on helping out wherever they can, but China has been surprisingly silent on the issue. They seem to be in a relatively good financial position, and they have a lot to lose based on the lackluster factory production numbers that came out a few days ago, so they should be at the forefront, right?

Wrong. While China does have a few economic issues at home to deal with, they don’t really see the major benefit in taking any large action until they are hit harder and start to see some of the negative effects of the global turmoil. They are experiencing some negativity, but overall, and especially compared to other world powers, they are holding their own and doing really well.

It would make no sense for them to put any of their own funds at risk when they have so much to gain. They obviously don’t want to see the world collapse around them, but they would be smart to take advantage of the situation around them and do all they can to come out on top. They were fiscally conservative for a very long time, and now it seems to be paying off for them.

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