Greece is bankrupt, who is next?

[res0nat0r]

Re: Greece is bankrupt, who is next?

Market is taking a beating today because of this.

[88Mariner]

Re: Greece is bankrupt, who is next?

^ it's gotta be an error of some sort. no way it's caused by foreign problems. and even if it was, not so severely, so abruptly

[res0nat0r]

Re: Greece is bankrupt, who is next?

closed down 348 today. just saw an article about it being some possible error for the sharp drop too and some related to europe debt worries.

http://www.schaeffersresearch.com/commentary/content/market+recap+djia+bounces+back+from+1000-point+drop+finishes+down+348/observations.aspx?ID=99706

[runningman]

Re: Greece is bankrupt, who is next?

An economic terrorist attack happened today. It dropped 1000 points in just minutes.

The dow has dropped 655 points in the last 3 days. Greece can't do that.

[88Mariner]

Re: Greece is bankrupt, who is next?

An economic terrorist attack happened today. It dropped 1000 points in just minutes.

The dow has dropped 655 points in the last 3 days. Greece can't do that.

just got a wire from the CIA. Said they were at fault on this one and apologies all around. Crisis solved.

[runningman]

Re: Greece is bankrupt, who is next?

The Green Lantern emailed me and told me he did it to help America fight terrorism.

green-lantern1.jpg

[Kat]

Re: Greece is bankrupt, who is next?

i believe portugal is next

[Highsteppa]

Re: Greece is bankrupt, who is next?

The cutbacks the Greek gov't is performing is pretty harsh, but then again, a lot of the perks the Greek public sector has is beyond belief. If I was living there before all of this, I'd be going after a gov't job like crazy too.

[Shpira]

Re: Greece is bankrupt, who is next?

Market is taking a beating today because of this.

^ it's gotta be an error of some sort. no way it's caused by foreign problems. and even if it was, not so severely, so abruptly

what people fail to understand generally is how integrated the global economy is...if you think about it the currency market is the largest market in the world and if countries default on debt thats gonna have an effect on the currency due to the bonds they sold and the effect of the currency is going to have an impact on all stock globally

[res0nat0r]

Re: Greece is bankrupt, who is next?

http://money.cnn.com/2010/05/07/markets/explaining_wall_street_turmoil/index.htm?cnn=yes&hpt=T3

After one of the most wild days on Wall Street, Nasdaq canceled trades of 296 stocks whose prices fluctuated the most.

That's when at least 296 stock prices saw enormous price changes. Nasdaq has said it will cancel all trades that were executed between 2 p.m. and 3 p.m. ET, in which the stock price traded more than than 60% off of the stock's price at 2:40 p.m.

Nasdaq coordinated the cancellations with other U.S. stock exchanges, and said the decision could not be appealed. After investigating the incident, Nasdaq found that the excessive movements in those stock prices were not due to a technical glitch on its end.
Some have speculated that the bizarre trades were caused by glitches in the computers that were trading the stocks electronically when NYSE slowed some stocks down.

[Michael^Heaven]

Re:

[FM]

Re: Greece is bankrupt, who is next?

UK is next.

"UK Conservatives raise Capital gains tax to 40%"

[Shpira]

Re: Greece is bankrupt, who is next?

nope... conservative lib dem coalition is the best thing that could have happened for the markets...
The conservatives are rolling back on the 50% income tax introduced by labour,,,where did you hear about the CGT?

[Shpira]

Re: Greece is bankrupt, who is next?

Coalition to increase capital gains tax
By Jean Eaglesham, Chief Political Correspondent
Published: May 12 2010 03:00 | Last updated: May 12 2010 03:00
Capital gains tax will be increased significantly for non-business assets, as part of a radical package of tax reforms agreed by the new Conservative-Liberal Democrat coalition government.

The new coalition has also agreed a substantive package of reforms to banking regulation, including an agreement to go ahead with a bank levy and the possible reversal of some of the Tory party's plans to reform the Financial Services Authority.

The 18 per cent rate of tax on gains on non-business assets will be increased to close to the 40 per cent higher rate of income tax, meeting a central plank of Lib Dem policy, according to Tory insiders.

There will be "generous exemptions" for profits related to business, in a bid to offset concerns about the potential chilling effect of the tax increase on entrepreneurs.

The revenue from the tax rise will be used to help fund a significant increase in the income tax threshold to help lower paid people, taking effect in April.

The new government, with George Osborne becoming Chancellor of the Exchequer as expected, will also agree to subsequent real terms increases in this threshold, as part of a longer term goal of meeting the £17bn Lib Dem policy of raising the income tax exemption to £10,000. The income tax change means the government will not implement the Tory commitment to reverse Labour's planned 2011 one percentage point national insurance rise for employees.

But the £3bn reversal of the rise in employers' national insurance will take effect - a commitment that will be welcomed by business.

David Cameron has agreed that his party's pledge to increase the inheritance tax threshold to £1m will be a lower priority, meaning it is "unlikely" to take effect in this parliament, senior Tories said.

As a quid pro quo, the Liberal Democrats have agreed to abstain from voting against the Tory plan to offer a £550m a year tax break to married couples, which is due to take effect next year.

Conservative insiders were hopeful the tax break would get through parliament on this basis.

The new government will enact the Conservative plan to implement a net £6bn of spending cuts in this financial year, subject to Treasury and Bank of England approval, as well as committing to accelerating the Labour plan for cutting the deficit over the course of this parliament.

An emergency Budget being held within 50 days will also include the Tory-proposed independent Office of Budget Responsibility, which will conduct an independent audit of the government books.

As well as an agreement on a bank levy, the new government will appoint an independent commission to examine the case for measures to break up the banks into separate retail and investment banking operations along the lines of the former Glass-Steagall act in the US.

The Bank of England will be given responsibility for macro-prudential supervision of the banks, with "oversight" of microprudential supervision.

This formulation could allow the Financial Services Authority to survive as a regulator, albeit with reduced responsibility.

not 50% but forty which makes sense...why should it be taxed less than income?

[Kinetic]

Re: Greece is bankrupt, who is next?

Tax raises in Portugal announced to day.

Everyone saw that coming.