great day to buy lyc, page-32

My take... Greece is threatening to default on their debt (currently bonds are @ 18%)... Riots are taking place as the government is cracking down on deficit spending (entitlements etc.)... Failure of the Greece financial system may lead to a domino affect causing Spain, Portugal, Ireland and eventually the US financial systems to go belly up...

Sounds pretty depressing and has put the entire globe in the tank...

Now consider the IMF (International Monetary Fund) which has supplemental cash of about half a trillion dollars... US bank exposure to Greece is around $41m (the largest obligation)... The failure of the Greek financial system is of no benefit to any one including Brazil, Japan, (especially) China and even Oz... It is pretty logical for the IMF to let Greece sweat it out for a while and force them to actually work on their problems, but in the long run it will only serve global interests when the IMF bails them out...

IMO there will NO winners if Greece defaults and the G20 (essentially a steering committee) has been preparing for this for a while... This too will pass...

That's the macro view I guess, and I have yet to find any reason for Lynas, on a micro level, to tank on it's own... Faith in the global economic system only makes sense because every one wins when ... well... when everyone wins...

If nothing else this post will provide good fodder for my San Antonio friend who is probably getting tired of looking car seats that fit Ferrari's ;~) ...