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Think his story coming out of my question impacts -- -- you wanna think again about this that nation.
Has until Monday to agree to a bailout deal to avoid an economic collapse that could end up affecting -- Lawmakers -- -- already rejected a plan that we talked about earlier this week that would directly tax People's Bank accounts.
And there's no sign of another deal yet so this financial crisis could affect your money here to explain personal finance expert.
You're given a pig -- lottery out OK so a lot of European Union countries made a lot of bad that's the they spent too much money but this is not the situation necessarily there situation.
In a nutshell I mean it.
It expanded this area at the system got -- -- couldn't handle the money coming in a lot of money was doing in billionaires are dumping money in your second Cayman -- shelter tax shelter.
Tons of money went in it -- made some bad -- and now they're in debt crisis and they -- -- -- in the pockets if you can -- couple days to get so how does this affect us well investor confidence has taken -- hit the Dow was -- -- yesterday on -- a lot of uncertainty in the -- And walking and I -- southern limit of the past a couple of days in particular so confidence is down a bit with the Wilson was waiting for sort of the other shoe to drop -- they're afraid of isn't it -- tiny country ten -- huge.
Potentially global ramifications -- it reverberates throughout the economy.
You know say it totally goes belly up right and -- -- big problems here we've got it is serious situation but no talk of the US ports is mechanic at a -- -- Not to this point out how I wish it would certainly hope not I you say that we're due for a market correction that can happen -- -- didn't want -- -- -- market has been trying to you right to pass someone argued and there's been talk about a market correction over the past couple of weeks that.
This -- situation could actually be the straw that breaks the rallies rally if you will on the investor -- -- sort of waiting for that to happen and particularly now given the situation there this could be sort of -- and it was just actually.
To -- OK so what we did.
-- -- doing anything just now tight I think in the -- situation here people are worried you mentioned that 10% tax that they were looking.
Up to 10% that they were looking to -- against consumers -- Potentially -- for that now I think that has people worried here about their bank accounts but.
The thing is here is that you are FDIC insured if you are we to thank the disappearance featuring should be fine but in the concern is among Americans that if the government can go in and take money out of your bank account -- that could end -- happening.
Here some day some -- -- you could argue it's already happening here it's just not we -- the -- tax revenues have been living here we don't use the word confiscation.
-- -- -- Magistrate to act out looking -- not getting anything in your cuts perhaps congregants in the low interest rates and inflation there will keep that I am -- thank you so much arrogant and that was great having you got.
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