Greece Collapsing Under Weight of Massive Welfare

[eagle1462010]

Stopping the emergency loans via the IMF are having the desired effects......
Causing the Banks to close and the Panic that thereafter...........

A SHIFT in the opinion of the people has occurred................

I hope the wallow in poverty for the next 100 years.

Karma's a bitch.............We are on the same path..........yet we didn't start handing out retirement at age 50 either...........
Our debt is out of control..........and unless it reverses very quickly........we will have the same fate............

Their policies were stupid..............
Our policies are stupid...........just not as much so..........but on a scale that makes their problem very very small............

Another point on Greece.............the EU itself..............allowing other countries to dictate your policy or getting rid of your own currency makes the weak bring down the strong...............and gives you no option to deflate your currency via the printing presses before you go down............as most of the world is doing now.........

by exchanging their currency into the grand EU experiment...........they lost the right to choose for themselves........to rise or fall without the damage to other countries..............and so on.........would they have still fallen...............YEP.........

So now to the other countries that are falling.........in the EU...........Italy, Spain, and Portugal..............all in better state than Greece but still falling..........when will their currency reserves run out..............and the process repeats...............

 

[The Rabbi]

So they took the money from the IMF, promised to repay it, and now have welched on their promises. Greece is headed down the crapper. It will get worse from here because there is no one who will bail them out anymore. Greece will look like Somalia at this rate. With the Soviet Union gone, there is no fear of a communist takeover (they already got elected), so no intervention by the US (although Obama could still fuck things up royally).
And libs will say it is the fault of capitalism, the banks, Wall St, and maybe the Koch Brothers.

 

[Slyhunter]

looks like they'll be building their boats somewhere else from now on.

 

[Clementine]

Wall Street greed and government largesse. A toxic cocktail.

What the fuck does Wall Street have to do with it?

Sent from my SM-N910V using Tapatalk

The libs blame the mean old wealthy people for everything that goes wrong. They won't admit that Greece's massive entitlements are what broke them. They were spending money like fools and, like our government, promising money that hasn't even been created yet. They didn't have the revenue to cover it, yet kept promising more and more. Then they started begging to be bailed out to prevent the country from collapsing. The banks agreed and there were conditions, like reducing spending, that were promised but not delivered. Finally, they got an ultimatum that if they weren't going to cut spending and come up with a plan to pay the money back then they would be cut off. The people of Greece whined because they weren't willing to give up their entitlements and the politicians caved to them. The banks kept their word and won't lend them any more, so now Greece doesn't have shit but that doesn't stop the people from protesting. None of the idiots understand that the government needs people to steal from in order to give others something. There is no one left to steal from in the country, so they begged and borrowed from everywhere else.

We are heading down that path. We still borrow billions just to hand it out in foreign aid on top of the entitlement shit. It's unsustainable, but no liberal has ever cared about how their policies will destroy the future. They just want votes now and are selling us out to get them.

 

[imawhosure]

Just want to know why the left leaning people on here continue to try and blame anything and everything, except the people who don't produce anything but get massive amounts of stuff for free?

Don't they understand that NOTHING is free, and someone is actually paying for it? And if nobody is paying for it and the government has to borrow money to buy the so called "free stuff," eventually the economic system collapses.

 

[bripat9643]

Wall Street greed and government largesse. A toxic cocktail.

What the fuck does Wall Street have to do with it?

Sent from my SM-N910V using Tapatalk

The libs blame the mean old wealthy people for everything that goes wrong. They won't admit that Greece's massive entitlements are what broke them. They were spending money like fools and, like our government, promising money that hasn't even been created yet. They didn't have the revenue to cover it, yet kept promising more and more. Then they started begging to be bailed out to prevent the country from collapsing. The banks agreed and there were conditions, like reducing spending, that were promised but not delivered. Finally, they got an ultimatum that if they weren't going to cut spending and come up with a plan to pay the money back then they would be cut off. The people of Greece whined because they weren't willing to give up their entitlements and the politicians caved to them. The banks kept their word and won't lend them any more, so now Greece doesn't have shit but that doesn't stop the people from protesting. None of the idiots understand that the government needs people to steal from in order to give others something. There is no one left to steal from in the country, so they begged and borrowed from everywhere else.

We are heading down that path. We still borrow billions just to hand it out in foreign aid on top of the entitlement shit. It's unsustainable, but no liberal has ever cared about how their policies will destroy the future. They just want votes now and are selling us out to get them.

Let them whine. Now they can wallow in the shit they created.

 

[Plasmaball]

What happens when more people depend on government spending than the number who contribute? Well, you realize what happens when leftist politicians take you on an unsustainable course. Since you always run out of other peoples' money, the only end is that eventually you will collapse under your own weight.

Instead of making needed cuts in spending and making the necessary changes to recover, they will now have nothing.

I see no difference in the policies the Dems are embracing here. Are they wanting us to collapse or are they so ignorant that they think they can do the same thing that's been done before and have a different outcome for once?

Politics Under weight of massive welfare state Greece about to default on IMF loans Best of Cain

you do realize people dont bother paying taxes their and tax collectors are murdered right? No you didnt so you just posted some lazy crap about the left as usual. because you are too stupid to learn anything.

Then again Greece is a conservatives wet dream. You dont have to pay your taxes and whine about how large the government is. Its like complaining about the smell when your dog took a shit in your living room.

 

[Rozman]

15 Weeks Treasury Says Debt Has Been Frozen at 18 112 975 000 000

Interesting.....

I wonder why?

Maybe it's not a good idea to let the truth out?

 

[eagle1462010]

15 Weeks Treasury Says Debt Has Been Frozen at 18 112 975 000 000

Interesting.....

I wonder why?

Maybe it's not a good idea to let the truth out?

Debt Ceiling hasn't been raised.........So they cook the books to stall for debt ceiling increase again.............

Be a bad time to argue the debt ceiling increases with Greece and Puerto Rico going under.

 

[imawhosure]

15 Weeks Treasury Says Debt Has Been Frozen at 18 112 975 000 000

Interesting.....

I wonder why?

Maybe it's not a good idea to let the truth out?

Debt Ceiling hasn't been raised.........So they cook the books to stall for debt ceiling increase again.............

Be a bad time to argue the debt ceiling increases with Greece and Puerto Rico going under.

This person is 100% correct! Happens almost every year, but of course, you have to pay attention to know this instead of watching MSNBC.

 

[Clementine]

Let them whine. Now they can wallow in the shit they created.

That's all they can do now since they blew it. The government promised the people the moon and the stars with no way to fund it and now they've lost it all because they were irresponsible.

I worry about the entitlement mentality here. People say they deserve this or that and they have no idea how much money the government must confiscate to make it happen. They seem to think that if only they'd go after the wealthy people that we'd never run out of money. So stupid. I think politicians know damn well that they are destroying the country when they do this shit so that must be the ultimate goal. Once countries all come crashing down, the left will finally get their wish and then dictators can take over and everything will be rosy.

 

[Synthaholic]

The banks did not force Greece to borrow. They FACILITATED Greece's borrowing. That's how banks make money, tard.

Greece was a shitty credit risk that wanted money. In normal circumstances, the world market would say to such a country, "Tough shit" and Greece would be unable to get its hands on the money.

But Goldman Sachs found a way for them. "Here", they said, "we will use the magic of derivatives to transfer risk from the shitty borrower to the rube lenders. It's been working wonders in the world housing market!"

Oopsie!

Same model. Same timeframe.

Except that's not what happened.

Greece was NOT considered a bad credit like the are today. That is why all the banks were lending them money. The spread of Greek debt over German debt had fallen from 10% in the 1990s to about 0.1% a decade later. When the swaps were structured, Greek bonds were trading "near the tights" over German bunds compared to at any time in their history prior to joining the eurozone. Banks thought that because Greece was a sovereign in the eurozone, it should trade similarly to Germany, another sovereign in the eurozone. Oops! Wrong.

That Goldman Sachs is somehow responsible is simply flat-out wrong. The fundamental problem is that Greece should NEVER have been allowed into the eurozone in the first place. The causes of the problems have nothing to do with Goldman Sachs or any other Wall Street bank. It has to do with the structural flaws of the eurozone.

The Greek economy is simply not strong enough to be in a currency union with the likes of Germany. The ONLY way that likes of Greece (and Italy and Spain and Portugal) can continue to be in the eurozone is either they structure their economy to be like the Germans or there is a perpetual transfer of wealth from the Germans to the Greeks, i.e. Germany gives their tax dollars and/or savings to the Greeks in perpetuity. Or some combination of the two. There is no other way without a full political union.

And none of that has anything to do with Goldman Sachs or derivatives.

I went to Greece 3 times in the early 1990s, and they were doing fine, with the Drachma. It was weak against the dollar, but I didn't find a ton of deals shopping in Glyfada. Restaurants were reasonable, hotels were on par with the U.S., only the rooms weren't as nice.

Yes, a few days as a tourist 20 years ago shopping in one place certainly makes you an expert in economic issues.
Dolt.

It has nothing to do with shopping in one place. Greece was doing fine, and preparing for the 1996 Olympics (which they didn't get). If you have the intellectual ability, you could look it up. 1990-1995. Knock yourself out. Please.

The inflation rate was over 8% at a time when US rates were under 3.
you lose.

Link?

What were other country's inflation rate at the time? What was Russia's? What was Turkey's? What was Japan's? What was Germany, France, and Spain's?

 

[Synthaholic]

They're fucked. And they deserve every bit of it. After the Grexit, the first thing that needs to happen is the left wing fucks in office need to be tarred and feathered and ridden out of town on a rail. Then the Greeks should ask the Estonians to come in and set up a new government and economic system for them. Within 5 years Greece will be a prosperous country.

The reason they are in such a situation is the imposed austerity. It's another failed conservative policy, failing in every European country that embraced it.

Fortunately, we had Barack Obama, who didn't fall for it and opted for a nation-saving stimulus.

Bullshit.
Austerity is the least of their problems. Over-generous gov't beneifts to retirees, stranging labor policies, enormous red tape to do anything. Just what Democrats want for the US.
Greece is a Democrat's wet dream.

You're a monetary moron. Austerity has prevented them from investing in the country. A massive infrastructure project would put people to work, producing taxes and commerce. And Greece needs an infrastructure upgrade desperately.

 

[Kosh]

Remember now that is what the far left here want America to look like..

 

[Synthaholic]

Should Greece use Krugman's idea an issue a $1 trillion coin?

The Greek currency is the Euro. So Greece does not have that option.

Don't make the mistake of believing that CrusaderFrank thinks through his posts before hitting reply.

 

[BluesLegend]

Greece was a bad credit risk. All the money markets had cut it off. Then Goldman Sachs opened their bar.

Simple as that.

Baltimore is a bad credit risk, Detroit is a bad credit risk, the libs are taking our country down one city at a time.

 

[The Rabbi]

They're fucked. And they deserve every bit of it. After the Grexit, the first thing that needs to happen is the left wing fucks in office need to be tarred and feathered and ridden out of town on a rail. Then the Greeks should ask the Estonians to come in and set up a new government and economic system for them. Within 5 years Greece will be a prosperous country.

The reason they are in such a situation is the imposed austerity. It's another failed conservative policy, failing in every European country that embraced it.

Fortunately, we had Barack Obama, who didn't fall for it and opted for a nation-saving stimulus.

Bullshit.
Austerity is the least of their problems. Over-generous gov't beneifts to retirees, stranging labor policies, enormous red tape to do anything. Just what Democrats want for the US.
Greece is a Democrat's wet dream.

You're a monetary moron. Austerity has prevented them from investing in the country. A massive infrastructure project would put people to work, producing taxes and commerce. And Greece needs an infrastructure upgrade desperately.

LOL!! Yeah that's the ticket. What a moron you are. I guess you're of the Biden school of Economics: We got to keep spending to avoid bankruptcy.
Guess what, it didnt work.

 

[CrusaderFrank]

Should Greece use Krugman's idea an issue a $1 trillion coin?

The Greek currency is the Euro. So Greece does not have that option.

Don't make the mistake of believing that CrusaderFrank thinks through his posts before hitting reply.

Fuck off.

Wait, let me think about that.

Hmmm

Yeah, fuck off

 

[Rozman]

Greece is sliding into a full-blown national crisis as the final cash reserves of the banking system evaporate by the hour and swathes of industry start to shut down, precipitating the near disintegration of the ruling coalition.

The only thing left to do is to blame Bush....
And start spending like nobody's business.....
After all the Libs feel the more you spend the better off you are...

 

[The Rabbi]

Greece is sliding into a full-blown national crisis as the final cash reserves of the banking system evaporate by the hour and swathes of industry start to shut down, precipitating the near disintegration of the ruling coalition.

The only thing left to do is to blame Bush....
And start spending like nobody's business.....
After all the Libs feel the more you spend the better off you are...

Joe Biden, next King of Greece!