So, how does that make you feel?
Your countrymen took out loans for homes they knew they couldn't afford, hoping to make a quick lat, and to make matters even worse they took them out at the advice of those nice bankers in dollars, euros and francs. And now they don't have a chance in the world of ever paying them back.
Your corrupt government empowered the REIC to come in and Ponzi Scheme up your nice little nation.
Your over-leveraged businesspeople and developers built speculative homes for housing-porn-addicted British dentists to flip, the Brits walked away, and now you hold the bag.
And now, your entire nation is junk.
But hey, so are your neighbors too. Lithuania, Estonia, Ukraine, Poland and more.
Welcome to capitalism. And junk.
Latvia’s Rating Cut to Junk by S&P as Outlook Worsens
Latvia’s credit rating was cut to junk by Standard & Poor’s, the second European Union nation to receive such a grade, because of a “worsening external outlook” triggered by the global financial crisis.
Latvia’s economic boom, sparked by entry into the EU in 2004 and fueled by soaring wages and cheap credit, has turned to bust. The economy contracted 10.5 percent in the fourth quarter, the worst performance in the 27-nation bloc, and the government, which collapsed this week, was forced to take a 7.5 billion-euro ($9.6 billion) bailout from a group led by the International Monetary Fund.
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10 comments:
what's on Latvian Idol?
Latvia has been Junk ever since they rounded up their best and brightest citizens, the incredibly strong yet pious Jews.
Stole everything from them then viciously murdered most.
Latvia will never recover..
Same goes for the rest of Europe.
You sleep in the bed you make.
nature wonder why many Latvians supported the Germany Army??? Maybe because Jewish Bolshevik Communists from 1921-192 killed or deported to Siberia like 30% of the population.....Being a Christian brought the death penalty..
It's funny, nobody here gives a sh*t about Latvia
Odd.
Wonder why that is.
A harsh lesson in capitalism. Should have invested in tulip bulbs instead, they always go up in value.
Latvia has some of the prettiest women in the world. Not only stunningly cute, they are also the most polite and humble women you can hope to find. In private they are the most uninhibited and dirty little creatures on the face of the earth.
Good news is that they will be going real cheap on ebay any day now. Buy in bulk and save on postage costs.
Keefer,
It's because they are just another one on the list of several... after Iceland people stopped giving a rip I guess.
The other Baltic nations (Lithuania, Estonia) aren't doing much better either.
You had said earlier this blog was for Americans and you are surpised that more aren't commenting on this? I'm surprised you got 3 comments before yours. The avg America wouldn't be able to tell if Latvia was a real or a fake name for a country.
-Mike
fookin A? really? north turdastan? I had to look it up where it was. with all the turdrific places with names like it. I thought omg could it have been an on its way place like croatia? Baller like that and the other turdastans on the med gettin they shit together and sexy time with the slave hookers? but noooo. yous want me to worry about some turdastan on the damn north east russia type shat stain place. screw latvia. any one would live in that local deserves whatever they get.I mean fookin A!!!
It's funny, nobody here gives a sh*t about Latvia
Odd.
Wonder why that is.
Maybe it's because they're Americans. How many could find Latvia on a map?
"Latvia has some of the prettiest women in the world."
Well, that's the whole Baltic Circle, including Estonia, Lithuania, Sweden, Finland, and Russia (St Petersburg/Leningrad area). So yes, save some dough, go there, and have some fun w/ the ladies.
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