tag:blogger.com,1999:blog-1194375569044391746.post6293586599985851763..comments2024-03-29T11:06:28.120-04:00Comments on Corporate Justice Blog: How Bad is it?Steven Ramirezhttp://www.blogger.com/profile/16741346526253732489noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-1194375569044391746.post-50310473982742765032011-11-28T21:05:10.628-05:002011-11-28T21:05:10.628-05:00Not only must countries reign in spending but indi...Not only must countries reign in spending but individuals as well. Individuals, like governments, must exist within their means. We are now experiencing the harsh fallout of societies based on debt.Franklin A (Memphis Law)noreply@blogger.comtag:blogger.com,1999:blog-1194375569044391746.post-81640636968352880092011-11-28T14:41:31.627-05:002011-11-28T14:41:31.627-05:00I know that recently, Italy's Prime Minister h...I know that recently, Italy's Prime Minister has met with Angela Merkel and Nicolas Sarkozy have met. I feel at this point, we are long past the point of being comforted by a meeting like this and that there is now a desperate need for action, rather than discussion.Kirkland (Memphis Law)noreply@blogger.comtag:blogger.com,1999:blog-1194375569044391746.post-1828129959485146702011-11-27T22:09:20.620-05:002011-11-27T22:09:20.620-05:00Unfortunately, the only way out of this mess is fo...Unfortunately, the only way out of this mess is for everyone to do more with less. When economies are built on credit extended on the basis of unrealistic returns, what else can one expect? America is headed right down the same road. We now have a national debt of $15 trillion which is greater than our GDP of $14 trillion. Out of the GDP, the federal government takes around $3 trillion to operate. Somehow, Congress believes that amount equates to a spending budget of $4 trillion. Somewhere, something has to give if America is to avoid a complete fiscal meltdown. This country has some of the brightest minds on the planet. We have more wealth than any other country and are still the leading producers and consumers in the world, but if we are going to maintain our strength, we have to use some common sense and forget about absolutist mantras which disallow synergistic problem solving. Meet in the middle. Some loopholes and deductions which produce taxation inequality based on percentage should be closed, which will raise revenue. Some programs which are wasteful must be cut. Everybody must sacrifice, give back some of what we took on credit that shouldn't have been extended, and do more with less.Dennyhttp://www.memphis.edunoreply@blogger.comtag:blogger.com,1999:blog-1194375569044391746.post-24633258182497094622011-11-23T12:43:18.834-05:002011-11-23T12:43:18.834-05:00How bad is it? Very bad. According to the 11/22/11...How bad is it? Very bad. According to the 11/22/11 Article, MF Global "filed the eighth-largest ever U.S. bankruptcy after a wrong-way $6.3 billion trade on its own behalf on bonds of some of Europe's most indebted nations." <br /><br />This shows that in today's global economy, economic meltdowns occurring in other countries' markets can eventually negatively impact one's own economy.Natasha (Memphis Law)noreply@blogger.comtag:blogger.com,1999:blog-1194375569044391746.post-3493726787739657282011-11-20T03:43:02.113-05:002011-11-20T03:43:02.113-05:00Very frightening. I very much doubt the Eurozone ...Very frightening. I very much doubt the Eurozone will be able to solve this mess. The chaos in Greece and the mixed messages sent by the former Greek Prime Minister Papaandreou on getting their debt under control in the past month are not relieving any fears. Although the proposed Greek Debt Swap may cut the Greek deficit to 5.4 pct/GDP, this will only happen if Greece and its new Prime Minister Papademos gets serious about its problems and targets such problems as tax evasion and the rival parties in Greece can cooperate. (http://www.reuters.com/article/2011/11/18/greece-budget-idUSL5E7MI1ZG20111118>)<br /> Likewise, Italy and its new Prime Minister Mario Monti need to get serious about their debt crisis and target problems like fighting the endemic tax evasion in Italy. If countries like Italy and Greece do not take serious steps, it is very unlikely that Germany will come to their aid.<br /> For the Eurozone to survive the further problems that are predicted to come down the pike for 2012, some analysts feel the Eurozone should take drastic steps like finally brining Turkey into the Eurozone.<br /> Without any drastic action on the part of Europe, I feel that Jim Rogers best sums it up, “be careful.”Robert_(Memphis Law)noreply@blogger.comtag:blogger.com,1999:blog-1194375569044391746.post-88152026238206753012011-11-11T12:28:02.973-05:002011-11-11T12:28:02.973-05:00I completely agree with Darling's assessment o...I completely agree with Darling's assessment of the magnitude of the crisis. Sovereign debt for too long was considered safer than other debt and many banks invested heavily in it to satisfy their capital requirements. But, like the mortgage backed securities of 2008, we find out this debt is not worthy of its credit rating either.<br /><br />To Krugman I would simply say that the ECB has a long history (if long can apply to a central bank with less than a twenty year history) of focusing on price stability and letting the member states worry about their economies. Furthermore, given the run up in commodity prices recently it is not unreasonable to argue that a monetary policy of price stability would provide a better stimulant to the ailing Euro economies than a loose monetary policy. After all Europe's only hope is to somehow grow out of their current fiscal mess. Austerity and tax increases will only compound the current problem.<br /><br />Are we looking at the sequel to 2008? While you ponder that please excuse me while I short some European bank stocks.Aaron_MemphisLawnoreply@blogger.comtag:blogger.com,1999:blog-1194375569044391746.post-36065417201808127182011-11-10T18:26:45.273-05:002011-11-10T18:26:45.273-05:00After reading the above expert opinions, I too am ...After reading the above expert opinions, I too am quite depressed about the near term future. I think the expert from The Economist is spot on in describing the situation in Europe as a death spiral. It seems the solutions are becoming fewer and less effective each week with the exception of temporary blind euphoric moments due to the newest bailout. Recent developments only serve to reinforce my belief that the situation is uncontainable and that it is only a matter of time before the true extent of it all will be realized. Wasn't it just a couple of weeks ago that the long awaited resolution over Greek debt was "voluntarily" agreed to by the European banks? At the time, one would have though that all was well, but obviously this is much larger than the public is being led to believe. <br /><br />I did find the recent open discussion of a Eurozone break-up telling in that, before now, I think most analysts would have considered such an outcome highly unlikely. My prediction is that whether a meltdown occurs or not within the next 6 months to year will depend entirely on Italy. Italy can not and it appears will not be offered the same forms and degrees of support that Greece was offered. If the above expert opinions are even close to accurate then the odds emerging from this crisis unscathed seems slim at best.Randall_MemphisLawhttps://www.blogger.com/profile/04980109791802251738noreply@blogger.com