Greece going down the fiscal toilet

[Voltaire 4,560]

So they have a big vote on Sunday if they want to accept austerity based loans or leave the EU.

 

Now I'm hardly an expert but IMO it seems this situation is entirely the fault of Greece's (former-former) government. This has been a terribly run, irresponsible government and massive socialist country since WWII with generous government benefits and rampant tax evasion. Then there are the big central banks in Europe who are being ridiculous in their demands. But screw 'em since it was their own damn fault for loaning the Greek government money.

 

Anyways, I think Greece, even though the government they elected did this to themselves, should get off the Euro and return to the drachma. See what's behind that door. I think they've had enough, maybe won't be so stupid again. Since any money lent to them just goes to the banks to turn around and be relent to them, I'd say, fock that. Meanwhile, any entity who was dumb enough to lend these idiots money deserves to be screwed.

[IGotWorms 3,315]

They'll take it Greek style from the Central Bank and IMF

[TimmySmith 2,782]

Rank and file Greece is like GF. Always complaining that the rest of the world is not doing enough for them, while steadfastly refusing to get a job. GF is not going to accept any austerity based anything because he is already living off of low-end microwave egg rolls. So what if 1,000,000 Drachma will equal 50 cents, at least I won't be someone's b*tch.

 

Cooler heads will accept anything to stay in the EU, IMO.

[RLLD 3,455]

This is a glimpse of the future for nations who deem it wise to pump up the socialism, eventually that approach is doomed.

[TimmySmith 2,782]

This is a glimpse of the future for nations who deem it wise to pump up the socialism, eventually that approach is doomed.

Certainly a cautionary tale about the future of our own social security system. At least until all the baby boomers have died off.

[RLLD 3,455]

Certainly a cautionary tale about the future of our own social security system. At least until all the baby boomers have died off.

 

People, government in particular, seems to lose sight of where actual money comes from.....business. You can take and take but eventually the money disbursal exceeds the amount your business can provide. Programs to entice companies to hire ensures everyone has a chance to succeed.

[Baker Boy 1,485]

 

 

The problem with socialism is that you eventually run out of other people's money.

 

Cyprus - check

Greece - check

 

On deck:

Spain

Portugal

Italy

[KSB2424 3,083]

Certainly a cautionary tale about the future of our own system.

 

For me, that's the take-a-way. Now I'm not saying our system is doomed for failure per se, but it's a cautionary tale that should be paid attention too.

 

America is a captialistic country, as it should be. And while common sense programs (entitlements) should be implemented to help the poor and elderly. A solid healthcare system shoud be in place, as well as checks and balances over commerce and the environment should be implemented, etc. We still need to understand there are limits and where, at the end of the day, our bread is buttered (business and capitalism). And not to fundementaly change who we are and ruin it based on some Eutopia, pie in the sky, socialistic agenda.

[TimmySmith 2,782]

 

For me, that's the take-a-way. Now I'm not saying our system is doomed for failure per se, but it's a cautionary tale that should be paid attention too.

 

America is a captialistic country, as it should be. And while common sense programs (entitlements) should be implemented to help the poor and elderly. A solid healthcare system shoud be in place, as well as checks and balances over commerce and the environment should be implemented, etc. We still need to understand there are limits and where, at the end of the day, our bread is buttered (business and capitalism). And not to fundementaly change who we are and ruin it based on some Eutopia, pie in the sky, socialistic agenda.

The average school system easily spends 10K per student. Suddenly 3 families with 10 kids cross the border. Now the school system is out 100K, instantly, and the 3 families pay negative taxes. This is happening in Maryland to the tune of 30K people per year. Montgomery County, MD used to have a top 5 school system, not in top 20 anymore. Not enough resources.

[KSB2424 3,083]

http://www.google.com/url?sa=t&rct=j&q=&esrc=s&frm=1&source=web&cd=1&cad=rja&uact=8&ved=0CDkQFjAA&url=http%3A%2F%2Fwww.usdebtclock.org%2F&ei=C6WSVdHkH4mwsAHMhYWoDw&usg=AFQjCNGiB_Hpta4GHtGKiVVUTRoaQmz8aQ&bvm=bv.96783405,d.bGg

[RLLD 3,455]

 

For me, that's the take-a-way. Now I'm not saying our system is doomed for failure per se, but it's a cautionary tale that should be paid attention too.

 

America is a captialistic country, as it should be. And while common sense programs (entitlements) should be implemented to help the poor and elderly. A solid healthcare system shoud be in place, as well as checks and balances over commerce and the environment should be implemented, etc. We still need to understand there are limits and where, at the end of the day, our bread is buttered (business and capitalism). And not to fundementaly change who we are and ruin it based on some Eutopia, pie in the sky, socialistic agenda.

 

Agree.

 

The notion that everyone will benefit equally is just not realistic. Most have exactly what they deserve, they have each earned what they have base don their effort. Then you have those who inherit, steal, or are otherwise perhaps harmed by others and have less than they truly deserve......but the vast majority are right where they belong. The harder you work, the more you eventually gain, the problem being that effort is no longer considered something positive.

[RLLD 3,455]

The average school system easily spends 10K per student. Suddenly 3 families with 10 kids cross the border. Now the school system is out 100K, instantly, and the 3 families pay negative taxes. This is happening in Maryland to the tune of 30K people per year. Montgomery County, MD used to have a top 5 school system, not in top 20 anymore. Not enough resources.

 

I know, lately they have struggled winning at the state level in a number of sports

[vuduchile 1,941]

I know next to nothing about Greece or this crisis. What's the actual impact now to the avg. Greek citizen who was just plodding along through life?

 

Destitution? Homelessness?

[GobbleDog 816]

I know next to nothing about Greece or this crisis. What's the actual impact now to the avg. Greek citizen who was just plodding along through life?

 

Destitution? Homelessness?

 

My guess is little to no givernment services.

[TimmySmith 2,782]

 

I know, lately they have struggled winning at the state level in a number of sports

I'll bet we kick the crap out of your county nearly half the time.

[titans&bucs&bearsohmy! 2,745]

I know next to nothing about Greece or this crisis. What's the actual impact now to the avg. Greek citizen who was just plodding along through life?

 

Destitution? Homelessness?

I'm no economist, but I gotta figure ridiculous inflation is in their future. Like wheelbarrows full of drachmas to buy food, and the money is worth less when you get to the front of the line than it was when you got in.

[DankNuggs 305]

I'm no economist, but I gotta figure ridiculous inflation is in their future. Like wheelbarrows full of drachmas to buy food, and the money is worth less when you get to the front of the line than it was when you got in.

saw a headline this morning that they took a bailout package and it seems the proverbial can has been kicked

[JTB 52]

saw a headline this morning that they took a bailout package and it seems the proverbial can has been kicked

Sounds familiar

[Chronic Husker 85]

My Clash of Clans clan is at war with a Greek clan. I told our clan that their clan getting crushed by us is the best thing that happened to them today.

[SUXBNME 1,335]

 

I know, lately they have struggled winning at the state level in a number of sports

You aint kidding. You HOST the fuckin Scripps National Spelling Bee Championships, yet you haven't produced a winner once since it's conception...

https://en.wikipedia.org/wiki/List_of_Scripps_National_Spelling_Bee_champions

[kilroy69 994]

The problem is that Greece flubbed the numbers to get into the eu. It is something the eu should have had tighter control over and did more research on before allowing them in. Now they are there is no real way of letting them fail. Something will get worked out but the geeks are not going to like it.

[Magnificent Bastard 190]

The banks will be ok. Bank on it.

[Voltaire 4,560]

I've got an interesting read for you at the micro-level. This American guy's on vacation on a Greek Island as had the bank closings in Greece cause a disturbance in his vacation plans. http://www.businessinsider.com/what-life-is-like-on-a-greek-island-during-the-debt-crisis-2015-6

[Frank M 181]

Take it to the Greek Bored!

 

[KSB2424 3,083]

Take it to the Greek Bored!

 

 

Okay, Frank made me laugh. Well done.

 

[RLLD 3,455]

You aint kidding. You HOST the fuckin Scripps National Spelling Bee Championships, yet you haven't produced a winner once since it's conception...

https://en.wikipedia.org/wiki/List_of_Scripps_National_Spelling_Bee_champions

 

Northwestern has given them something to cheer about in FB at least recently, both in other areas they have strangely struggled.....its cyclical....

[Voltaire 4,560]

I'm not sure what's going on here.

 

Greek attitudes towards taxing and spending are pretty wacked out. Tax dodging is a national pasttime. Pay for everything in cash without reporting sales, lie about earnings, drive around toll booths. It's common practice. Meanwhile, the age you can retire with full benefits is right around 18 or so. So tons of benefits, tons of spending, no taxes, it's a country full of Giant's Fan type leaches that have been electing various flavors of George W. Bush economic policy leadership for fifty years.

 

Also, they lied and manipulated numbers to join the Euro in the first place. Now if I were in the rest of Europe, I'd give them the boot. But no, for some reason they are willing to let them stay. If I were a European official, I wouldn't go to my taxpayers and say, let's lend more money to Greece; I'd say fock 'em. Even if they do agree to all demands, they're probably lying their asses off just to get access to more money. You don't lend good money to somebody as irresponsible or unable to pay as Greece like you don't lend it to Kwame Kilpatrick or Puerto Rico. Any money you give them, you have to be prepared to never see again.

 

Now Greece on the other hand, they've been really suffering for years. The banks are closed, they can't make withdrawals. It's so bad there nowadays, suddenly people are actually considering finding jobs but for some reason there are none. (I joke, it really is bad and a scary time and I surprise myself that I actually have sympathy for them considering who they've been voting for all these years.) Anyways, so they have this really sh*t deal come from Europe. They reject it and vote in a party that refuses to consider austerity measures from Europe. The anti-austerity party negotiates with their lenders, gets the best deal they can, then takes it to the voters, asks for a 'no' vote and get it as the deal is soundly defeated.

 

Sp they go back to negotiate with Europe. The finance minister promptly resigns, I think well maybe this guy is a dillweed and now that the chips are down, doesn't want to do any of the actual heavy lifting. So the leader of the anti-austerity party, the most anit-austerity guy around, less than a week after having it confirmed in a landslide by the voters that they don't want to do austerity any more, throws up his hands, says ah, fock it and agrees to all this austerity anyways.

 

I don't get it.

 

Now his party is abandoning him. Understandably. They didn't want the deal and he agreed anyways. I have no idea what this guy is thinking.

 

If you believe your rhetoric, you have to tell the lenders to go fock themselves and get off the Euro and start printing drachmas. See hat's down that path. Now he looks like a focking hypocrit. I now think that finance minister who I called a dillweed wasn't such a dillweed after all. It was a smart move. He's a true beleiver in saying fock off to the big banks of Europe and he saw the leader of his party was selling them down the river, didn't want any of that poo on him, and jumped off at a very good time.

 

I dunno, if I were Greek, I'd take my country of work-phobic Giants Fans leech compatriots and see if I can rally/scare them to get off their asses and see what happens with bringing back the drachma.

[IGotWorms 3,315]

Austerity is not the answer. Greece probably does need to make some changes but drastic cuts in spending will only further harm the economy. You need to get out of the danger zone first, then you have to have the discipline to ease back on spending even though there's no longer a crisis