{"id":189268,"date":"2010-04-26T17:38:00","date_gmt":"2010-04-26T22:38:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/04\/26\/ok-this-is-a-sign-of-the-apocalypse\/"},"modified":"2010-04-26T17:38:00","modified_gmt":"2010-04-26T22:38:00","slug":"ok-this-is-a-sign-of-the-apocalypse","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/04\/26\/ok-this-is-a-sign-of-the-apocalypse\/","title":{"rendered":"OK, This IS a Sign of the Apocalypse"},"content":{"rendered":"<p>The <a href=\"http:\/\/www.ft.com\/cms\/s\/0\/0ad66ef2-515e-11df-bed9-00144feab49a.html\">yield on 2 year Greek government bonds jumped 300 basis points (3%) to 13.522% over the past day<\/a>.<\/p>\n<p>To place this in perspective:<\/p>\n<blockquote style=\"color: rgb(0, 0, 153);\"><p>Greece\u2019s two-year borrowing costs are now higher than those of Argentina, at 8.8 per cent, and Venezuela, at 11 per cent, two countries that have been shunned by many international investors because of the mismanagement of their economies. <\/p><\/blockquote>\n<p><img decoding=\"async\" src=\"http:\/\/img697.imageshack.us\/img697\/3223\/georgebailey6323472.jpg\" style=\"margin: 0px 0px 10px 10px; float: right; cursor: pointer;\" width=\"200\" \/>This is not a collapse of Europe.  What this appears to be is a classic bank run.<\/p>\n<p>This doesn&#8217;t make it a potentially life threatening disaster for the George Bailey&#8217;s of this world.<sup>*<\/sup><\/p>\n<p><sup>*<\/sup><span style=\"font-size:78%;\">I&#8217;m using <\/span><span style=\"font-style: italic;font-size:78%;\" >It&#8217;s a Wonderful Life<\/span><span style=\"font-size:78%;\"> for illustrative purposes only.  I never liked the film, and pretty much <\/span><span style=\"font-weight: bold;font-size:78%;\" >no one<\/span><span style=\"font-size:78%;\"> until it fell out of copyright, and TV stations around the US started using it as cheap filler.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The yield on 2 year Greek government bonds jumped 300 basis points (3%) to 13.522% over the past day. To place this in perspective: Greece\u2019s two-year borrowing costs are now higher than those of Argentina, at 8.8 per cent, and Venezuela, at 11 per cent, two countries that have been shunned by many international investors &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[984,1009,1017],"tags":[],"class_list":["post-189268","post","type-post","status-publish","format-standard","hentry","category-europe","category-government","category-international-finance"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/189268"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=189268"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/189268\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=189268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=189268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=189268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}