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Welcome to the diamond district everyone Americans can learn a lot of history by visiting the ancient cities agrees.
But the Greek government can learn a lot from our recent history.
To avoid a financial Armageddon before history repeats itself.
The market is up in arms an extremely concerned that financial troubles in Greece could bring down part of Europe.
The debt in Greece could have a domino effect on Portugal Spain.
And -- Ireland or Italy.
-- -- Lehman Brothers nearly brought down several big US banks.
Joining me in the diamond district today is Fox Business stocks editor Elizabeth MacDonald -- a.
And seeing you here a long time happened to have you but I think might happen Tommy Ellis still yelling at that you just dealt themselves -- transient stroke that pretty much you can guarantee you can't touch HD for me there.
OK to get involved parent.
The extent that people are making win Lehman Brothers.
And grease the debt problems concerns increase it's hurting our market -- -- days.
You know here's the thing you know -- her -- -- and we've been making this comparison to.
I think you know it's sort of yeah I might get to into the weeds about the analogy because.
If he admitted that thing isn't it didn't get bailed out Lehman Brothers went and had -- chain reaction when he had they you know the domino effect.
So the -- the trading action is happening right now is.
Greece to dealing with Greece European -- mayors have my three options either let Greek debt Greece defaults just really bad.
Bail amount we -- Greece exit the Euro zone they won't let that happen.
The -- -- we're seeing is that it will likely get spelled out so to my mind and to some level but traders at a loss had been talking to all of that they're saying this is more like.
Saved bailout Greece.
What about the other countries that are really having -- find -- I don't really is problematic spot ballot.
Couple questions on the who's going to do the bailing out and then also as you bring up sold Portugal Spain.
-- in Italy Ireland what can happen within the bit and also again.
Right now -- -- issue -- -- -- Greece could never print its way out of -- problems like we Kennedy in the United States.
So we're seeing heavy short action in the are right now at the end of the trading day that's because that significantly to print a lot of lot of money to help but Greece which with its 400 billion dollar debt overhang -- -- about seven 880 billion by the end of the year.
To operate its budget and this is that a bankrupt come country for a very very long time.
And so you know -- big question is is that.
What if you don't ballot out.
What -- had like -- ambles around their necks of other countries.
Would there be a -- crack up would there be a lot of investor panic we're seeing this with -- campaigns that Spain is really if you want to.
Labor the analogy Spain is really like the Lehman Brothers.
Solved and to bring it back to our American viewer in -- mainstream invest main street investors then yeah.
-- in Anthony's Karen -- -- it's didn't include international stocks and where people should maybe be moving their money.
Would you still recommend people stay invested internationally.
I guess sure apps and all these -- let's say they have to target it and and be Smart about it because a lot of solid until there banks done.
Well in some of these areas sure but the thing is as.
What what what is the take away for investors at home yeah -- they worry about this will we -- -- glut there at the top 10 AM Wall Street is that we go.
We -- -- rates rise because all these bonds are flooding the markets and actually have to -- yields rise to lure more investors and but what's happening now is there is a flight worldwide to safety to -- US treasury so.
Basically that the -- problem its problems in Greece.
Are helping the US government do its deficit finance debate on treasury it's read a lot of things out scalping of -- was right not stock Weis yeah that's right helping -- -- finance their deficits because.
You know people are buying treasuries as a flight to the dollars to the dollar strengthening and.
But he was just -- was we're scraping on -- were saying you know all of our problems we've caused it we created it all now and now there.
They're -- the first place they run to the safety the dollar.
Yeah that's true and you don't look at the put it this way.
What we're doing -- states and other countries around the world is spending their way out of town and a leverage problem which is sort of like drinking Scotch and had a cure a hangover not that I need to sit.
We -- but well you know it's sort of -- -- or -- whatever you.
But it doesn't work but again appointed -- short term relief.
Clinton don't look good to see another -- yes let out twice already folks that don't forget tax me.
Go go diamond are you on Twitter now know.
Better and Tony we know you are Cody has way more followers than I do so got -- that boat have.
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