2011 Greek State Budget Deficit Widens 24% Through July

Tyler Durden's picture

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Gordon Freeman's picture

It's Charlie Brown and the football, Tyler...

alexwest's picture

Greeks are not stupid, they know
they will lose money either through confiscation by taxes, or through bank/debt defauls.. so only smart way is hide , move money out of system, dont declare incomes..

i hope Americans will wise up eventually
alx

Sudden Debt's picture

i hope Americans will wise up eventually

Can you add some change to it to?

 

cossack55's picture

Amerikans have to stay in the open in order to receive their next Gubmint fix.

oogs66's picture

August 20th, big maturity and interest payments due by greece!

Iriestx's picture

The Germans will mortgage their children's future to pay for it.  It's all good.

dwdollar's picture

So the Greece saga will be back sooner than expected?  Talk about a perfect shit-storm on the horizon.

Sudden Debt's picture

ROOM TO MANEUVRE BITCHEZ!!!

 

max2205's picture

And that's spun to the upside....

EscapeKey's picture

But the NEXT estimate will be correct! Trust us!

pods's picture

I love it how we got in a big tussle over here in the US because the S&P had a different 10 year estimate than the administration, when in reality, they cannot forecast out a quarter with any precision.  

Just goes to show there are no wrong answers in the land of make believe. Only different and opposing right ones.

pods

papaswamp's picture

Time to head for Mykonos beach and party on! The EU will keep paying for the party.

cossack55's picture

IRS has hired thousands recently. I'm sure they would enjoy a all-expenses-paid Greek working vacation.

oogs66's picture

not in this world.  the trips will go to timmay and other "top" bosses who don't do any actual work, who will nod their heads, tell the grunts to do the work, and not understand their perplexed looks when they ask how they can do the actual details when they haven't been involved in the proces

Ancona's picture

We should send them a boat load of hopium. I hear Obama has a warehouse full of the stuff.

They can smoke it all up, and pretend things have changed.

Sweet!

Archimedes's picture

I prefer to snort my Hopium.

MsCreant's picture

Mainline. What is wrong with you people?

pods's picture

Cannonball comin!

pods

Archimedes's picture

Ah, can you blame them? Broke, jobless americans have been taking free money for the past two or three years while they look for a "job".

No one will turn down free money as long as there are entities that are stupid enough to keep giving it to them.

Dr. Engali's picture

They take jobs collecting money under the table while they collect the free stuff.

Dr. Engali's picture

Give them another 120 billion. They are good for it. Hell Ben can print that with his eyes closed.

dpr10's picture

and probably this does not even include social security..What I wanna see next is the socialist state of France to fall...from AAA of course as a first stage..they have crazy budget deficits and debt to GDP is up there with the best with no chance of ever getting paid back..then the stu..assss Germans can pick up the tab...

CharlieSDT's picture

The Greeks are totally screwed.  It's going to be a good buying oportunity soon for Greek beachside real estate and hot exotic Helens of Troy soon, just bring your gold bars.  Here's our take on the Greece debacle:

http://www.singledudetravel.com/2011/07/greece-greed-graft-and-the-grim-reaper/

topcallingtroll's picture

That is the funniest shit I have read in a long time!

Snidley Whipsnae's picture

Big fire sale of Greek state property coming up. This is what happens when the bankers buy pols. Wait till Yellow Stone Natl Park or Federal grazing/mining lands are put on the block for auction... From Max Keiser... False Flag Finance...

http://www.youtube.com/watch?v=PxgBQ5IrgcA&feature=player_embedded

topcallingtroll's picture

Not a good idea to buy property unless you have enough money to buy the government too.

The greeks will sell it to you, then tax and regulate you and harass you with administrative fines until you go bankrupt and they get it back free.

ElvisDog's picture

I agree. An American buying property in most other coutries is seen as a tax donkey/fee donkey. "Rights? You don't have no stinkin' rights".

woofer's picture

Anyone who has ever visited Greece would see that there isn't much there apart from Greeks, rocky ground, ruins, olives and tourists. If the original money lenders to the Greeks reckon that they did due diligence on the Greek economy or government or anything, then they are kidding themselves and everyone else. All they had to do was take a holiday there for a week to see what was really going on. The Eurozone was bulldust from the beginning. Since no one can get out, default, or go broke in case the money lenders suffer the onus of underwriter is being foisted on an increasingly reluctant Germany who has worked hard for its savings, unlike other warmer countries. What happens when the Euromasters break the Germans? 

alexwest's picture

well i've been there.. as in Detroit..
no comparings, for example

Europe have been in much more difficult situations.. it will get by..

and trust me, if you 're at a bit financial well off, you'd never relocate from from any place in SOuth Europe (Spain/Italy/etc) to any place in USA
(Cali/Floria incld).

USA mostly look like shithole w/ malls and fat boys/girls in t-shirts everywhere ..

food /stuff/cars/women/etc are way better in EUROPE...
alx

Sudden Debt's picture

DIDN'T YOU READ THE NEWS?!!!!

HAMBURGERS AT MCDONALS COST LESS IN AMERICA THAN IN EUROPE!!!

 

snowball777's picture

Sure...just don't try to find a place to park, pay for anything without a VAT attached, ask the girls to shave, or expect a cold drink.

Judging the US by Detroit is like judging all of Zooropa by travelling to Vilnius.

alexwest's picture

well, article was about Greece, possible worst place to be in Europe now,
so its apples to apples..as far as Detroit concerned

as far as girls concerned, well at least they're not that crasy about boob implants as here.

Vilnius is nice city, there's yet too much USSR heritage, but it will
disapper..

and might be its good idea to introduce VAT here,, seems people wont be so fat ..

alx

snowball777's picture

I don't suppose you looked out at the water and noticed the world's largest fleet of merchant vessels?

topcallingtroll's picture

The Germans can continue to pour money down a rat hole never to be seen again.......or the Greeks can take Europe down through contagion.

I feel so ashamed, but I can't turn away.

History first repeats as a tragedy, then as a farce.

Sudden Debt's picture

IT CAN'T BE!!

STANDARD AND POORS HELPED THEM MAKE THE CALCULATIONS!!!

+24% or not, there is no deficit...

Grand Supercycle's picture

UPDATED S&P500 CHART THAT FORECAST THE CRASH:

http://bit.ly/x618

My long term indicators still warn of USD rally and EURUSD weakness.

jmc8888's picture

Cutting to pay off fraud does that to deficits.  Of course that's not the only reason it widened, but a major factor.

Don't cut, print, or tax for fraud.

Cancel it. Via Glass-Steagall

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