Let the Greeks FRY!!!!

[GHook93]

The socialist made their beds and they refuse to lay down in it! They say we are broke and getting bailed out BY FOREIGN countries. Sorry, but YOU HAVE TO MAKE SCARIFICES. Laziness, unlimited worker protection, high taxation, high spending, retirement at 50, unlimited healthcare, 4 hour days, ginoremous and wasteful government isn't going to cut it.

If the European nations, meaning most fiscally responsible Germany, bails out Greece AGAIN, it will be a mistake. The Greek people refuse to compromise and live within their means. They need to fall down, forced to make the needed scarifices and be picked up on their own!

If they get bailed out AGAIN, then they will squander the money and find themselves right back in the same situation in a year or two!

[ame=http://www.youtube.com/watch?v=fAhW3e1yJsw]YouTube - ‪Greece riots: RT crew under attack‬‏[/ame]

 

[syrenn]

 

[Flopper]

Their problem also becomes our problem. Welcome to globalization.

 

[JackDan]

seriously

 

[syrenn]

Their problem also becomes our problem. Welcome to globalization.

Think any of them give a rats ass about our problems?

 

[The Rabbi]

Their problem also becomes our problem. Welcome to globalization.

Think any of them give a rats ass about our problems?

No they done. Nor should they.
But the issue is not the Greeks. They'd happily default. The issue is all the international banks, German, French, US, etc, that hold their bonds. Writing them down to zero will probably destroy some of them.
But they need to do that. Yes, it will be painful. But the Japanese experience of keeping banks afloat with zombie loans is even worse.

 

[L.K.Eder]

beware of bringing gifts to greeks.

 

[High_Gravity]

I like gyros.

 

[GHook93]

Their problem also becomes our problem. Welcome to globalization.

Not as much as you think smokey! The world markets will get hit HARD for a few days, maybe a week, but they will recover. Greece fall is inevitable. At least it will be a warning to other countries, LIKE THE UNITED STATES OF AMERICA, to change course on spending and taxation!

 

[GHook93]

Gyros are good, but Middle Eastern Sharma is much better!

I like gyros.

 

[High_Gravity]

Gyros are good, but Middle Eastern Sharma is much better!

I like gyros.

I agree 100%, I had shawarma when I was in Kuwait and Saudi Arabia and it was delicious.

 

[Two Thumbs]

The socialist made their beds and they refuse to lay down in it! They say we are broke and getting bailed out BY FOREIGN countries. Sorry, but YOU HAVE TO MAKE SCARIFICES. Laziness, unlimited worker protection, high taxation, high spending, retirement at 50, unlimited healthcare, 4 hour days, ginoremous and wasteful government isn't going to cut it.

If the European nations, meaning most fiscally responsible Germany, bails out Greece AGAIN, it will be a mistake. The Greek people refuse to compromise and live within their means. They need to fall down, forced to make the needed scarifices and be picked up on their own!

If they get bailed out AGAIN, then they will squander the money and find themselves right back in the same situation in a year or two!

YouTube - ‪Greece riots: RT crew under attack‬‏

couple years?

Didn't Germany just bail them out last year?

and this is the shit we are supposed to copy?

 

[Two Thumbs]

 

[WillowTree]

The socialist made their beds and they refuse to lay down in it! They say we are broke and getting bailed out BY FOREIGN countries. Sorry, but YOU HAVE TO MAKE SCARIFICES. Laziness, unlimited worker protection, high taxation, high spending, retirement at 50, unlimited healthcare, 4 hour days, ginoremous and wasteful government isn't going to cut it.

If the European nations, meaning most fiscally responsible Germany, bails out Greece AGAIN, it will be a mistake. The Greek people refuse to compromise and live within their means. They need to fall down, forced to make the needed scarifices and be picked up on their own!

If they get bailed out AGAIN, then they will squander the money and find themselves right back in the same situation in a year or two!

YouTube - ‪Greece riots: RT crew under attack‬‏

They retire at fucking fifty and they're out begging in the streets to do so? Fuck them.

 

[GHook93]

The socialist made their beds and they refuse to lay down in it! They say we are broke and getting bailed out BY FOREIGN countries. Sorry, but YOU HAVE TO MAKE SCARIFICES. Laziness, unlimited worker protection, high taxation, high spending, retirement at 50, unlimited healthcare, 4 hour days, ginoremous and wasteful government isn't going to cut it.

If the European nations, meaning most fiscally responsible Germany, bails out Greece AGAIN, it will be a mistake. The Greek people refuse to compromise and live within their means. They need to fall down, forced to make the needed scarifices and be picked up on their own!

If they get bailed out AGAIN, then they will squander the money and find themselves right back in the same situation in a year or two!

YouTube - ‪Greece riots: RT crew under attack‬‏

They retire at fucking fifty and they're out begging in the streets to do so? Fuck them.

Correction! They are not begging; they are out DEMANDING they keep they same lazy life style and that the hard working productive Germans pay for it!!! That is what entitlements do. Liberals say its shames people to stand on their own two feet. The contrary is what happens. People accept it, demand more and get violent, disobedient and high and mighty if you try to take it away!

 

[GHook93]

Greece will eventually default. The Greeks don't want to take the necessary steps to correct their situation. Just like a crack head on welfare, they will never better their situation unless they are forced to do so. But here are the results, most are happening now anyways and most will be back on track in a short time!

News Headlines
(1) Greek Banks Get Nationized - Probably will happen anyways. Greek backs are relying on people who aren't going to make payments, not a good combo. Bad for Greece no doubt, but not for us.

(2) Europe Bank Get SLAMMED - $53 Bil in loans to Greece by UK, France and Germany. They will be hit hard and will probably require bailouts by THOSE countries. Bailing out Greece is a losing battle. If Germany wants its banks to survive the Greek default. Let Greece fry and worry about stabilizing your banks. Soon Greece will find little partners to invest in it!

(3) Insurers Get Smashed and of BK - Remember AIG! They insured millions of bad loans. Same think happening now. Again the individual countries should worry abut it's insurers, like we did with AIG. Fuck Greece.

(4) Global Credit Crunch - Um, we have that now! The crunch will get worse for a little while, but will stabilize.

(5) US Money Markets sink in value - Average interest rate right now is less than 1%! LOL, decreasing to 0% is not that much of a disincentives, since MM have paid less than the average savings account for a while.

(6) Central Euro Bank in Crisis - It's already in crisis with so many Euro countries in peril. Greece is going down either now or after the next bail out funds run out.

(7) Politician Crisis in Germany - Germans are STRONGLY against bailing out Greece, but they are strongly against bailing out private bankers (sound familiar Americans). When the Germany powerhouse economy gets hit like the US one did, Germans will be mad. However, I think the Germans will be madder after then pay another round of $10s of billions to Greece and then watch her default in two years!

(8) US Takes Note and Learns - First the government will finally see why reigning in spending is a MUST. It will be taken seriously. The average American will see this also. However, the average American consumer will spend less either way and save more. Good for the individual, bad for the economy! Consumer confidence drives our economy.

(9) Rise of Protectionism - Across Europe and probably at home. Maybe NAFTA will be appealed, China taken on?

(10) China hit HARD - American consumers buying less useless crap from China. US government engaging in the trade war with China. However, Europe is a ginormous market for China. Imagine them spending less and tossing up trade barriers with China! The Chinese people don't make enough to pay for the crap they manufacture. China could be headed toward economic meltdown and revolution!

(11) Ireland and Portugal Change Course - Booth I & P are the anti-Greeks. Their economies are in peril, but they are taking the necessary painful steps to pay their debt. If they see Greece default they might also. HOWEVER, after they see every country and private bank cut off Greece and turmoil that ensure. I believe the opposite will happen. I believe I & P (and Spain) will be more motivated than ever to avoid default at all costs. Heck America will also.

(12) US Raises Debt Ceiling - Just like Ireland and Portugal fearing the aftermath of a default America will also. We will raise the ceiling.


Look Greece default is inevitable. Either spend another $80 billions in a fruitless attempt to stop it, but in effect just delaying the inevitable. Or allow the crash to happen now!

 

[Baruch Menachem]

Letting Greece default is like getting a smallpox inoculation. It makes you sick, it gives you scars, but it is so much better than the alternative.

Greece lied their way into the Euro zone, and the rest of the euro zone is going to have to change the currency, as Greece can still print their own.

The banks in europe are going to have do something about how they do capitalization. I think the best thing is to wipe out 90% of equity in the banks, and change savings deposits into shares, much like credit unions work here.

When the bank I used to work for bought out another big bank back in 2008, they had a huge goodwill and equity pile. During the merger process the equity and goodwill got written down to zero before the merger went through in order to handle all the bad loans they did. Before the crisis the other bank was selling for as much as 80 per share. We got them for around 7.

 

[Flopper]

Their problem also becomes our problem. Welcome to globalization.

Think any of them give a rats ass about our problems?

They care about our problems in so far as it effects their economy. No country on earth is immune to an economy crisis in the US.

Our exposure to Greece's problems are limited to the billions of dollars in Greece's debt held by US banks.

 

[Flopper]

Letting Greece default is like getting a smallpox inoculation. It makes you sick, it gives you scars, but it is so much better than the alternative.

Greece lied their way into the Euro zone, and the rest of the euro zone is going to have to change the currency, as Greece can still print their own.

The banks in europe are going to have do something about how they do capitalization. I think the best thing is to wipe out 90% of equity in the banks, and change savings deposits into shares, much like credit unions work here.

When the bank I used to work for bought out another big bank back in 2008, they had a huge goodwill and equity pile. During the merger process the equity and goodwill got written down to zero before the merger went through in order to handle all the bad loans they did. Before the crisis the other bank was selling for as much as 80 per share. We got them for around 7.

The EU/IMF bailout seeks a soft landing, however I am very doubtful that Greece will meet the terms of the offer. If they don't they will default.