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   Greek economy saved. No really, this time it'll work

27 Nov 2012 10:22 AM   |   5645 clicks   |   BBC
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abhorrent1     
BOHICA

27 Nov 2012 10:23 AM
I_Can't_Believe_it's_not_Boutros     
If this doesn't work, the next step will be for the women to stop sleeping with the men until they fix the economy.

27 Nov 2012 10:24 AM
antron     
But that trick never works

i45.tinypic.comView Full Size

27 Nov 2012 10:26 AM
Cormee     

I_Can't_Believe_it's_not_Boutros: If this doesn't work, the next step will be for the women to stop sleeping with the men until they fix the economy.


It didn't work in Belgium

27 Nov 2012 10:33 AM
Orgasmatron138     
I don't even know how you begin to fix Greece. All I know is that people better keep an eye on the Golden Dawn party - those people are farking terrifying.

27 Nov 2012 10:35 AM
doczoidberg     
Hopefully, Greece totally collapses a few years before the US does, and that way we will be able to enjoy the show before experiencing total chaos ourselves....

Support the Golden Dawn party!

27 Nov 2012 10:37 AM
I_Can't_Believe_it's_not_Boutros     

Orgasmatron138: I don't even know how you begin to fix Greece.


War with Persia. It's the only thing that's ever worked.

27 Nov 2012 10:39 AM
Mach10     
There has never been an economy anywhere at any time that has recovered or improved as a result of austerity.

Right-wingers can knee-jerk all they want about the cost of social assistance, but the reality has been borne out again and again. Put $20 into the pocket of a rich guy, and it goes right to the bank. Put $20 in the pocket of a working-class citizen, and it goes right into the cash register of your local store.

And as much as Chase Manhattan would love you to believe otherwise, it's the general store--not the bank--that forms the basis of a moving economy.

27 Nov 2012 10:45 AM
WelldeadLink     
It will work this time, gods willing.

i50.photobucket.comView Full Size

OK, they're screwed.

27 Nov 2012 10:49 AM
Zeb Hesselgresser     

Mach10: There has never been an economy anywhere at any time that has recovered or improved as a result of austerity.

Right-wingers can knee-jerk all they want about the cost of social assistance, but the reality has been borne out again and again. Put $20 into the pocket of a rich guy, and it goes right to the bank. Put $20 in the pocket of a working-class citizen, and it goes right into the cash register of your local store.

And as much as Chase Manhattan would love you to believe otherwise, it's the general store--not the bank--that forms the basis of a moving economy.


Which tree are you plucking those $20 bills off of?

27 Nov 2012 10:52 AM
WelldeadLink     

Mach10: Put $20 into the pocket of a rich guy, and it goes right to the bank.


And of course, money in the bank stays there and does nobody any good. For money, that's a wonderful life.

i627.photobucket.comView Full Size

27 Nov 2012 10:52 AM
dragonchild    [TotalFark]  

Mach10: Right-wingers can knee-jerk all they want about the cost of social assistance, but the reality has been borne out again and again. Put $20 into the pocket of a rich guy, and it goes right to the bank. Put $20 in the pocket of a working-class citizen, and it goes right into the cash register of your local store.


I'm under the impression that Greece's problem is that the rich people take $20 from the working-class citizen and put it into their own pockets, which is why the working-class Greeks go out of their way to avoid paying taxes. The end result is that everything is financed with foreign debt.

Ideology isn't really the problem here; it's that Greece is a bureaucratically broken state that makes little distinction between austerity and old-school Keynesian policies. If the right wing is relevant at all, it's that their efforts to convince Americans that we're already a bureaucratically broken state are downright terrifying. I live in Boston so I can't even commute to work without getting a big ol' whiff of the sulfurous fart of government corruption, so I ought to be as disillusioned with government as anyone. But no, we are not anywhere close to Greece.

27 Nov 2012 10:53 AM
cubic_spleen     
Save Greece's economy! Collect valuable prizes!

27 Nov 2012 10:54 AM
Thunderpipes     
Within a decade, we will be in a worse situation than Greece. We can handle a bigger debt ratio, but eventually even the mighty USA cannot handle 200%, 300% debt to GDP.

I know libs don't care, but when Obama says he is saving us a trillion dollars over 10 years, yet still has trillion dollar deficits, we aren't really saving money.

We need a 500 billion dollar surplus a year to even begin to pay down the debt. With each year of trillion dollar deficits, this gets way worse. At the end of his second term, interest payments on the debt alone will be in the 500 billion dollar range. Think about all the dough being thrown away.....

Something drastic needs to happen. The country is bleeding profusely and we just keep putting on band aids and giving transfusions. We need to fix the damage.

27 Nov 2012 10:59 AM
Joe Blowme     
Borrowing more money? hey, its how Obama does it.... greece here we come!!

27 Nov 2012 11:01 AM
WelldeadLink     
i627.photobucket.comView Full Size


All of you know that this raven won't stay in the bank. It goes into your house, and you give it to a carpenter, who gives it to Sam's Grocery Store, who gives it to Fred's Food Fantasy, who puts it back in the bank. This raven does good for all of you.

27 Nov 2012 11:04 AM
iheartscotch     
Really? When did the European Union change its name to Charlie Brown?

27 Nov 2012 11:12 AM
Orgasmatron138     

Thunderpipes: Within a decade, we will be in a worse situation than Greece. We can handle a bigger debt ratio, but eventually even the mighty USA cannot handle 200%, 300% debt to GDP.

I know libs don't care, but when Obama says he is saving us a trillion dollars over 10 years, yet still has trillion dollar deficits, we aren't really saving money.

We need a 500 billion dollar surplus a year to even begin to pay down the debt. With each year of trillion dollar deficits, this gets way worse. At the end of his second term, interest payments on the debt alone will be in the 500 billion dollar range. Think about all the dough being thrown away.....

Something drastic needs to happen. The country is bleeding profusely and we just keep putting on band aids and giving transfusions. We need to fix the damage.


We care, that's why we're wiling to pay more taxes.

Anyway, I know oversimplified solutions aren't really the answer, but Warren Buffet made a good point when he talked about fixing the deficit. He said "You just pass a law that says that anytime there's a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election. Yeah. Yeah. Now you've got the incentives in the right place, right?"

Fixing the deficit won't solve the problem overnight, but it will stop the bleeding. That has to be step 1, but even that won't happen until people really put Congress' feet to the fire.

If either party came up with a perfect solution that would magically solve our problems overnight, the other party would still block it because that party wouldn't want the other to be successful. That's the team mentality that our political process is reduced to.

27 Nov 2012 11:12 AM
MBooda     
I'd throw more Spartans at the problem.
www.onlygoodmovies.comView Full Size

27 Nov 2012 11:20 AM
Joe Blowme     

MBooda: I'd throw more Spartans at the problem.
[www.onlygoodmovies.com image 490x245]


Thats madness

27 Nov 2012 11:23 AM
MBooda     

Joe Blowme: MBooda: I'd throw more Spartans at the problem.
[www.onlygoodmovies.com image 490x245]

Thats madness


Madness? Inconceivable!

27 Nov 2012 11:27 AM
Mach10     

Zeb Hesselgresser:

Which tree are you plucking those $20 bills off of?


Well, the billions of nearly zero-interest bailout loans look pretty arboreal to me.

Let me be blunt: Fiscal policy requirements in times of economic crisis are not the same as in prosperity.

This is why the right wing persistently screws up economies the world over again and again: You people just cannot grasp the concept that in times of need, the question "how did we get here" just isn't relevant when the question "how the hell do we get out" is more pressing. The same fiscally conservative policies that may (or may not; that's a subject for legitimate debate) help maintain a healthy economy, but they sure-as-shiat don't help a failing economy. If you sever money flowing into the working class, you lower your expenditures, but since Greece (like most western nations) derive between 60 and 80% of their taxation revenue from people at or below the national wage average, stretching this demographic further means that the 20% savings to your operating budget results in a double to triple loss in your revenue. [Source: OECD]

When the boat is taking on water, everyone should be concerning themselves with rowing and bailing--not pushing sailors overboard. Plenty of time to hang the captain when you get a-shore.

Nationalize the banks if necessary, but Investing this bailout money heavily in infrastructure provides the foundation of a capitalist society with money which will immediately be spent on the service industry. This wealth then subsequently moves up the chain, offering more jobs. The new infrastructure is now an asset which needs to be maintained (costs money) but also generates revenue from more jobs, increased trade, and operational income. This isn't socialism, it's farking common sense--and it worked out just fine in the US c. 1930s

Funneling money into the same broken system on the contingent that they rip out huge chunks of the machinery, and above all on basis that they will be cut off if the broken machinery miraculously refuses to tick over smoothly is a goddamn stupid idea.

Let's make no mistake: Greece is in trouble because their entire economic policy is a shiatty joke of Saturday Night Live caliber. And not a good joke of the 80s/90s. We're talking 'Jimmy-Fallon-Glancing-at-the-Camera-G rinning-Nervously-While-Being-Pa id-To-Sound-Stupid' bad. But fixing this involves making fiscal decisions that give right-wingers indigestion.

27 Nov 2012 11:30 AM
Thunderpipes     

Orgasmatron138: Thunderpipes: Within a decade, we will be in a worse situation than Greece. We can handle a bigger debt ratio, but eventually even the mighty USA cannot handle 200%, 300% debt to GDP.

I know libs don't care, but when Obama says he is saving us a trillion dollars over 10 years, yet still has trillion dollar deficits, we aren't really saving money.

We need a 500 billion dollar surplus a year to even begin to pay down the debt. With each year of trillion dollar deficits, this gets way worse. At the end of his second term, interest payments on the debt alone will be in the 500 billion dollar range. Think about all the dough being thrown away.....

Something drastic needs to happen. The country is bleeding profusely and we just keep putting on band aids and giving transfusions. We need to fix the damage.

We care, that's why we're wiling to pay more taxes.

Anyway, I know oversimplified solutions aren't really the answer, but Warren Buffet made a good point when he talked about fixing the deficit. He said "You just pass a law that says that anytime there's a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election. Yeah. Yeah. Now you've got the incentives in the right place, right?"

Fixing the deficit won't solve the problem overnight, but it will stop the bleeding. That has to be step 1, but even that won't happen until people really put Congress' feet to the fire.

If either party came up with a perfect solution that would magically solve our problems overnight, the other party would still block it because that party wouldn't want the other to be successful. That's the team mentality that our political process is reduced to.


YOU are not willing to pay more taxes. You only want the rich, the business owners to pay those taxes. That is the problem. Buffet is a loon, but I agree with him on the election thing.

Class warfare is powerful, it won Obama the election. However, that simply divides us further. The solution is simple, but won't happen. Massive cuts in spending all around, and massive loss of benefits (SS and medicare need separate fixes). The reason just increasing taxes, especially on the rich and business owners is it stifles investment and makes businesses not expand, hire, and not able to compete in the global market. Can't tax your way out, have to grow your way out combined with spending cuts. Are taxes are ridiculously high as it is.

And you can't do it having almost half of Americans who file pay no federal income tax (on income, not SS benefits). They will always vote themselves more money.

Look what Obamacare will do. Many businesses will pay the $2,000 fine to not give benefits, because the employee can then go get subsidies of $10,000 from the government to get it on their own. Businesses were already contributing way more than they should any way.

And you gotta bust unions. Not sure how much you guys realize they are costing us. CA alone is 300 billion dollars under in pensions alone. Eventually, that blows up too, and the feds cannot rescue states forever.

27 Nov 2012 11:36 AM
Clemkadidlefark     
www.lastkisscomics.comView Full Size

27 Nov 2012 11:37 AM
ghare     
They're going to cut taxes on the wealthiest again?

27 Nov 2012 11:39 AM
Thunderpipes     

Mach10: Zeb Hesselgresser:

Which tree are you plucking those $20 bills off of?

Well, the billions of nearly zero-interest bailout loans look pretty arboreal to me.

Let me be blunt: Fiscal policy requirements in times of economic crisis are not the same as in prosperity.

This is why the right wing persistently screws up economies the world over again and again: You people just cannot grasp the concept that in times of need, the question "how did we get here" just isn't relevant when the question "how the hell do we get out" is more pressing. The same fiscally conservative policies that may (or may not; that's a subject for legitimate debate) help maintain a healthy economy, but they sure-as-shiat don't help a failing economy. If you sever money flowing into the working class, you lower your expenditures, but since Greece (like most western nations) derive between 60 and 80% of their taxation revenue from people at or below the national wage average, stretching this demographic further means that the 20% savings to your operating budget results in a double to triple loss in your revenue. [Source: OECD]

When the boat is taking on water, everyone should be concerning themselves with rowing and bailing--not pushing sailors overboard. Plenty of time to hang the captain when you get a-shore.

Nationalize the banks if necessary, but Investing this bailout money heavily in infrastructure provides the foundation of a capitalist society with money which will immediately be spent on the service industry. This wealth then subsequently moves up the chain, offering more jobs. The new infrastructure is now an asset which needs to be maintained (costs money) but also generates revenue from more jobs, increased trade, and operational income. This isn't socialism, it's farking common sense--and it worked out just fine in the US c. 1930s

Funneling money into the same broken system on the contingent that they rip out huge chunks of the machinery, and above all on basis that they will be ...


The "right wing" got Greece in trouble? Huh?

Where did Obama spend all that stimulus? How many jobs did it produce? He spent it on failed energy companies, bailed out a car maker that should have been allowed to go bankrupt, bailed out gigantic Fannie and Freddie who now control almost everything, and where are we now?

Greece failed because of entitlements. Easy work, massive benefits, all government backed. Eventually, coffers run dry, like ours are.

27 Nov 2012 11:42 AM
grinding_journalist    [TotalFark]  

Thunderpipes: Look what Obamacare will do. Many businesses will pay the $2,000 fine to not give benefits, because the employee can then go get subsidies of $10,000 from the government to get it on their own. Businesses were already contributing way more than they should any way.


The icing on the cake is: where do you think that $2000 will come from? The company? Hah- they the employee's net pay. The employees will be paying a business fine for the business, and be in no better place than they were before, given that the cost of healthcare will necessarily rise when the subscriber base does.

27 Nov 2012 11:42 AM
Why Would I Read the Article     

Mach10: This is why the right wing persistently screws up economies the world over again and again: You people just cannot grasp the concept that in times of need, the question "how did we get here" just isn't relevant when the question "how the hell do we get out" is more pressing. The same fiscally conservative policies that may (or may not; that's a subject for legitimate debate) help maintain a healthy economy, but they sure-as-shiat don't help a failing economy. If you sever money flowing into the working class, you lower your expenditures, but since Greece (like most western nations) derive between 60 and 80% of their taxation revenue from people at or below the national wage average, stretching this demographic further means that the 20% savings to your operating budget results in a double to triple loss in your revenue. [Source: OECD]

When the boat is taking on water, everyone should be concerning themselves with rowing and bailing--not pushing sailors overboard. Plenty of time to hang the captain when you get a-shore.

Nationalize the banks if necessary, but Investing this bailout money heavily in infrastructure provides the foundation of a capitalist society with money which will immediately be spent on the service industry. This wealth then subsequently moves up the chain, offering more jobs. The new infrastructure is now an asset which needs to be maintained (costs money) but also generates revenue from more jobs, increased trade, and operational income. This isn't socialism, it's farking common sense--and it worked out just fine in the US c. 1930s


I'm trying to think if I've ever read anything dumber in my entire life. Nope. I never have. Congratulations, this is literally the dumbest thing I have ever read.

Please learn something about economics before you ever speak or type on your computer again.

27 Nov 2012 11:50 AM
LemSkroob     

I_Can't_Believe_it's_not_Boutros: If this doesn't work, the next step will be for the women to stop sleeping with the men until they fix the economy.


In Greece, that wont be a problem. There are plenty of boys and goats to go around.

27 Nov 2012 11:52 AM
Mach10     
Thunderpipes:The "right wing" got Greece in trouble? Huh?

My bad, I wasn't clear; I forked my argument. Greece got itself into trouble, and your assertions are technically correct, but you are describing symptoms, not the cause. Greece's economy is in collapse; this was not 'caused' by broken social spending, it was caused by a severe trade deficit. Money stopped moving.

My assertion is that fiscal austerity (which is a Republican cornerstone--hence the segue into right-wing US politics) will make matters worse, not better.

27 Nov 2012 11:53 AM
iheartscotch     

Mach10: Thunderpipes:The "right wing" got Greece in trouble? Huh?

My bad, I wasn't clear; I forked my argument. Greece got itself into trouble, and your assertions are technically correct, but you are describing symptoms, not the cause. Greece's economy is in collapse; this was not 'caused' by broken social spending, it was caused by a severe trade deficit. Money stopped moving.

My assertion is that fiscal austerity (which is a Republican cornerstone--hence the segue into right-wing US politics) will make matters worse, not better.


Seriously? Have you been living under a rock? Tax evasion is a national pastime in Greece; the trade deficit hurt; but not as much as the people not paying taxes combined with all of the social services.

27 Nov 2012 12:01 PM
CujoQuarrel     

Mach10: There has never been an economy anywhere at any time that has recovered or improved as a result of austerity.

Right-wingers can knee-jerk all they want about the cost of social assistance, but the reality has been borne out again and again. Put $20 into the pocket of a rich guy, and it goes right to the bank. Put $20 in the pocket of a working-class citizen, and it goes right into the cash register of your local store.

And as much as Chase Manhattan would love you to believe otherwise, it's the general store--not the bank--that forms the basis of a moving economy.


Ok. But we use your money and not mine. Go take all of your retirement savings and buy Greek bonds.

27 Nov 2012 12:01 PM
CujoQuarrel     

grinding_journalist: Thunderpipes: Look what Obamacare will do. Many businesses will pay the $2,000 fine to not give benefits, because the employee can then go get subsidies of $10,000 from the government to get it on their own. Businesses were already contributing way more than they should any way.

The icing on the cake is: where do you think that $2000 will come from? The company? Hah- they the employee's net pay. The employees will be paying a business fine for the business, and be in no better place than they were before, given that the cost of healthcare will necessarily rise when the subscriber base does.


Don't be silly. It will come from the Magic Money Fairy who will visit all the good little boys and girls and put it under their pillow at night.

27 Nov 2012 12:05 PM
YixilTesiphon     

Mach10: Put $20 into the pocket of a rich guy, and it goes right to the bank. Put $20 in the pocket of a working-class citizen, and it goes right into the cash register of your local store.


What the hell do you think banks do with the money you deposit? Shove it up their ass? Do you know what a mortgage is?

27 Nov 2012 12:08 PM
Mach10     

Why Would I Read the Article:

Please learn something about economics before you ever speak or type on your computer again.


Can I have a hug, at least?

27 Nov 2012 12:12 PM
Mach10     

YixilTesiphon: Mach10: Put $20 into the pocket of a rich guy, and it goes right to the bank. Put $20 in the pocket of a working-class citizen, and it goes right into the cash register of your local store.

What the hell do you think banks do with the money you deposit?

What I think is pretty much irrelevant, but I would assume that they do with it what they usually do, eg:
Link
Link

27 Nov 2012 12:20 PM
Debeo Summa Credo     

Mach10: Zeb Hesselgresser:

Which tree are you plucking those $20 bills off of?

Well, the billions of nearly zero-interest bailout loans look pretty arboreal to me.

Let me be blunt: Fiscal policy requirements in times of economic crisis are not the same as in prosperity.

This is why the right wing persistently screws up economies the world over again and again: You people just cannot grasp the concept that in times of need, the question "how did we get here" just isn't relevant when the question "how the hell do we get out" is more pressing. The same fiscally conservative policies that may (or may not; that's a subject for legitimate debate) help maintain a healthy economy, but they sure-as-shiat don't help a failing economy. If you sever money flowing into the working class, you lower your expenditures, but since Greece (like most western nations) derive between 60 and 80% of their taxation revenue from people at or below the national wage average, stretching this demographic further means that the 20% savings to your operating budget results in a double to triple loss in your revenue. [Source: OECD]

When the boat is taking on water, everyone should be concerning themselves with rowing and bailing--not pushing sailors overboard. Plenty of time to hang the captain when you get a-shore.

Nationalize the banks if necessary, but Investing this bailout money heavily in infrastructure provides the foundation of a capitalist society with money which will immediately be spent on the service industry. This wealth then subsequently moves up the chain, offering more jobs. The new infrastructure is now an asset which needs to be maintained (costs money) but also generates revenue from more jobs, increased trade, and operational income. This isn't socialism, it's farking common sense--and it worked out just fine in the US c. 1930s

Funneling money into the same broken system on the contingent that they rip out huge chunks of the machinery, and above all on basis that they will be cut off if the broken machinery miraculously refuses to tick over smoothly is a goddamn stupid idea.

Let's make no mistake: Greece is in trouble because their entire economic policy is a shiatty joke of Saturday Night Live caliber. And not a good joke of the 80s/90s. We're talking 'Jimmy-Fallon-Glancing-at-the-Camera-G rinning-Nervously-While-Being-Pa id-To-Sound-Stupid' bad. But fixing this involves making fiscal decisions that give right-wingers indigestion.


Answer his question. Where will Greece get more money to spend, if you think that is the answer?

Difficulty: try to keep it under 1,000 words.

27 Nov 2012 12:39 PM
YixilTesiphon     

Mach10: YixilTesiphon: Mach10: Put $20 into the pocket of a rich guy, and it goes right to the bank. Put $20 in the pocket of a working-class citizen, and it goes right into the cash register of your local store.

What the hell do you think banks do with the money you deposit?
What I think is pretty much irrelevant, but I would assume that they do with it what they usually do, eg:
Link
Link


Maybe they do that because they were rewarded by the government for doing so, and had the ones exposed to too much of that been allowed to go bankrupt, somebody would have learned their lesson?

27 Nov 2012 12:41 PM
Debeo Summa Credo     

Why Would I Read the Article: Mach10: This is why the right wing persistently screws up economies the world over again and again: You people just cannot grasp the concept that in times of need, the question "how did we get here" just isn't relevant when the question "how the hell do we get out" is more pressing. The same fiscally conservative policies that may (or may not; that's a subject for legitimate debate) help maintain a healthy economy, but they sure-as-shiat don't help a failing economy. If you sever money flowing into the working class, you lower your expenditures, but since Greece (like most western nations) derive between 60 and 80% of their taxation revenue from people at or below the national wage average, stretching this demographic further means that the 20% savings to your operating budget results in a double to triple loss in your revenue. [Source: OECD]

When the boat is taking on water, everyone should be concerning themselves with rowing and bailing--not pushing sailors overboard. Plenty of time to hang the captain when you get a-shore.

Nationalize the banks if necessary, but Investing this bailout money heavily in infrastructure provides the foundation of a capitalist society with money which will immediately be spent on the service industry. This wealth then subsequently moves up the chain, offering more jobs. The new infrastructure is now an asset which needs to be maintained (costs money) but also generates revenue from more jobs, increased trade, and operational income. This isn't socialism, it's farking common sense--and it worked out just fine in the US c. 1930s

I'm trying to think if I've ever read anything dumber in my entire life. Nope. I never have. Congratulations, this is literally the dumbest thing I have ever read.

Please learn something about economics before you ever speak or type on your computer again.


I admire you for reading the entire post without having an aneurysm. That's hardcore.

27 Nov 2012 12:45 PM
Debeo Summa Credo     

Mach10: YixilTesiphon: Mach10: Put $20 into the pocket of a rich guy, and it goes right to the bank. Put $20 in the pocket of a working-class citizen, and it goes right into the cash register of your local store.

What the hell do you think banks do with the money you deposit?
What I think is pretty much irrelevant, but I would assume that they do with it what they usually do, eg:
Link
Link


You mean lend it into the economy?

27 Nov 2012 12:46 PM
Mach10     

Debeo Summa Credo: Answer his question. Where will Greece get more money to spend, if you think that is the answer?

Difficulty: try to keep it under 1,000 words.


/Points silently to the article.

27 Nov 2012 12:53 PM
spawn73     

Mach10: There has never been an economy anywhere at any time that has recovered or improved as a result of austerity.


Just of the top of my head. Finland after the collapse of the Soviet Union. Sweden and Denmark in the 80s. Germany after the reunification. There's tons more of course.

But yes, there's a lot of examples of it working.

And besides, what is the alternative really when your country spends more money than it has? Continuing to do so won't work, that's what brought them there.

27 Nov 2012 01:30 PM
spawn73     

Mach10:
Nationalize the banks if necessary, but Investing this bailout money heavily in infrastructure provides the foundation of a capitalist society with money which will immediately be spent on the service industry. This wealth then subsequently moves up the chain, offering more jobs. The new infrastructure is now an asset which needs to be maintained (costs money) but also generates revenue from more jobs, increased trade, and operational income. This isn't socialism, it's farking common sense--and it worked out just fine in the US c. 1930s

Funneling money into the same broken system on the contingent that they rip out huge chunks of the machinery, and above all on basis that they will be ...


So, like we should give Greece the olympics again? That should get the wheels turning with all the infrastructure required and such.

Obviously they can't use infrastructure from the previous Olympic Games they held, as every single stadion, road, airport, railway station is useless because of total disuse and maintenance now because of how farked up the Greeks are.

Well, or maybe it would make more sense to just have half the Greeks dig holes, and the other half filling said holes up again. Let the Germans pay for their wages, and soon the Greek economy will be flourishing again.

Maybe it´ll make the Greeks feel disenfranchised. But it would still be better than their Olympic Games adventure, with the huge derilict hulks being a daily reminder to the Greeks of how they're total farkups.

27 Nov 2012 01:41 PM
Debeo Summa Credo     

Mach10: Debeo Summa Credo: Answer his question. Where will Greece get more money to spend, if you think that is the answer?

Difficulty: try to keep it under 1,000 words.

/Points silently to the article.


The eu extends a loan to keep Greece from defaulting. Then what? They don't have a choice.

They are relying on the generosity of other European states. They cannot fund anymore spending that that which is given to them by the rest of Europe. Austerity is the only answer. Otherwise the European generosity will dry up, and greece has no other means to borrow money.

27 Nov 2012 01:44 PM
Mrbogey     

YixilTesiphon: Mach10: Put $20 into the pocket of a rich guy, and it goes right to the bank. Put $20 in the pocket of a working-class citizen, and it goes right into the cash register of your local store.

What the hell do you think banks do with the money you deposit? Shove it up their ass? Do you know what a mortgage is?


Most people are economically illiterate. Its only a problem when they make decisions based off that ignorance.

27 Nov 2012 02:34 PM
nmemkha     

YixilTesiphon: What the hell do you think banks do with the money you deposit? Shove it up their ass? Do you know what a mortgage is?


You're as clueless as he is. Mortgages haven't been not backed by deposits since the Savings & Loan debacle of the 80s. Banks invest deposits (keeping enough on-hand to meet Reserve requirements) and then invest the rest and reap the profits.

The money to fund loans is created out of thin air.

27 Nov 2012 02:42 PM
Fark_Guy_Rob     

Mrbogey: YixilTesiphon: Mach10: Put $20 into the pocket of a rich guy, and it goes right to the bank. Put $20 in the pocket of a working-class citizen, and it goes right into the cash register of your local store.

What the hell do you think banks do with the money you deposit? Shove it up their ass? Do you know what a mortgage is?

Most people are economically illiterate. Its only a problem when they make decisions based off that ignorance.


To be fair - even full-time economists have a heck of lot of trouble agreeing on some pretty fundamental concepts. And a good majority of full-time investors don't outperform random selection.

Me? I've given up pretending like I understand it.

27 Nov 2012 02:44 PM
Koalacaust     

Mach10: Let's make no mistake: Greece is in trouble because their entire economic policy is a shiatty joke of Saturday Night Live caliber. And not a good joke of the 80s/90s. We're talking 'Jimmy-Fallon-Glancing-at-the-Camera-G rinning-Nervously-While-Being-Pa id-To-Sound-Stupid' bad. But fixing this involves making fiscal decisions that give right-wingers indigestion.


What sort of fiscal decisions?

27 Nov 2012 02:46 PM
Mach10     

Koalacaust: Mach10: Let's make no mistake: Greece is in trouble because their entire economic policy is a shiatty joke of Saturday Night Live caliber. And not a good joke of the 80s/90s. We're talking 'Jimmy-Fallon-Glancing-at-the-Camera-G rinning-Nervously-While-Being-Pa id-To-Sound-Stupid' bad. But fixing this involves making fiscal decisions that give right-wingers indigestion.

What sort of fiscal decisions?


In a nutshell? Putting any kind of money into social programs that put people to work.

You know, as opposed to paying off banks or corporate debt.

27 Nov 2012 03:03 PM
OgreMagi     
Greeks: Haha, I don't pay my taxes. And look at all this free stuff I get from the government!
Government: Dudes, we're broke. No more free stuff.
Greeks: WTF! How dare you! Protest!

27 Nov 2012 03:04 PM
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