The Greece Debt Crisis
Greece’s
government has defaulted on a €1.6bn loan repayment to the International
Monetary Fund becoming the first advanced economy to do so in the institution’s
71-year history. The Greek Crisis is so impactful that it has its own website http://www.greekcrisis.net/
The reason this
is such an interesting study is that there are a lot of countries, USA
included, that are teetering on brink of “too much debt.”
Greece represents
only 2% of Europe’s GDP and 0.4% of the world’s GDP.
They only owe
approximately $352 billion dollars and 175% of its GDP, to put that in
comparison, the US owes 18.15 TRILLION dollars (50 times the amount owed by
Greece) and 108% of our GDP.
So the biggest
thing that people are doing is looking at how the world is going to react to a
relatively small nation collapsing under the debt.
What happens to
the first country that is removed from the Euro?
What happens when
an economy that is much larger like Japan (20x) or Italy (9x) approaches debt
levels where default is imminent?
What happens
next? That is the big question.
With the vote on
Sunday to default, Monday will be a very interesting day for the financial
markets.
-Kris
Home Tip of the week
There
are fabulous events and fireworks shows in our area.
In
Napa -
July
3rd 9:15 pm - Silverado Country Club Fireworks
July
4th – In Downtown Napa
On Saturday, July 4th, the skies over the Napa River and Veterans
Memorial Park will burst with color in one of North Bay’s largest Independence
Day Celebrations. "Napa Lights The Valley", the theme of City of
Napa’s July 4th festival, will honor Earthquake First Responders and the men
and women of our armed forces. Activities begin in downtown Napa at 10:00 a.m.
with the Sunrise Rotary Napa 4th of July Parade, followed by a riverfront music
and food festival from 12 p.m. to 9:30 p.m. Free music will play all day from
the JaM Cellars stage in Veterans Memorial Park, culminating with a Sparkling
Wine Toast and Fireworks Extravaganza. This year’s hi-tech pyrotechnic show is
designed in collaboration with PyroSpectaculars, producer of Boston Pops and
Macy’s 4th of July Fireworks Celebration.
In
Yountville
6:00
pm Festivities at the Veterans Home of California-Yountville will begin. Music
food and fun! Fireworks begin at 9:30 p.m.
In
St. Helena
9:30pm
Fireworks
In
Calistoga
Celebrate
an all-American, vintage, 4th of July with summer sizzle starting with a
hometown Parade in charming Calistoga then head to the Fair for a giant
tailgate picnic, fun rides and unique contests. Bring your lunch, your portable
BBQ, or buy lunch from local non-profits. Enjoy a wine pavilion, olive oil
tastings, live music, art exhibits, and Kid Kountry. Entertainers stroll among
the guests, exhibits display blue ribbons, and everyone’s invited to make and
take art projects at the Make & Take Center. At night enjoy the Fireworks Sky
Concert.
In
American Canyon
10:30
am Parade begins at the corner of Kimberly & Elliott
Activities
throughout the day.
9:30
pm Fireworks Show Community Park II 20 Benton Way
In Suisun
City,
11
a.m. to 10:30 p.m., July 4, 2015
There
will be activities all day long at the Suisun City Waterfront District
Fireworks
at 9:15pm
No comments:
Post a Comment