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It's that fearmongering that keeps greece from officially defaulting though, eventhough it's officially incapable of paying its debt for a year now. It's kind o
by ignifero 15y ago
It's that fearmongering that keeps greece from officially defaulting though, eventhough it's officially incapable of paying its debt for a year now. It's kind of irrational fear, too. I mean, japan's earthquake alone cost ~300 billion and there was no new crisis.
- blantonl 15y agoThere is no new financial crisis yet from the Japan earthquake. But the problem with your assumption is that the real economic damage occurs just immediately after a disaster. The reality is that the actual economic affects of the Japan earthquake will only begin to really show in the next five years. With what is happening at Fukushima now, and the associated supply chain disruptions that are already filtering down the creek, there should be serious cause for concern. I personally made a long term bet in the Japanese market shortly after the quake, but you can "bet" that it won't pay off for a long time.