Greece Collapsing Under Weight of Massive Welfare

Greece should have been using it's national industry - shipping - to bring tourists to Greece for free. It would have been a Tourist Stimulus. It's one of the most desirable destinations in the world, and people from around the globe would be bringing in hard currency, filling hotels, restaurants, bars. They could make deals with their ship companies to compensate them, with tax eliminations, etc.
You understand most Greek shipping is oil containers, right? Want to ride in one?
What a dunce. I dont even know why you bother posting.
 
Greece should have been using it's national industry - shipping - to bring tourists to Greece for free. It would have been a Tourist Stimulus. It's one of the most desirable destinations in the world, and people from around the globe would be bringing in hard currency, filling hotels, restaurants, bars. They could make deals with their ship companies to compensate them, with tax eliminations, etc.
You understand most Greek shipping is oil containers, right? Want to ride in one?
What a dunce. I dont even know why you bother posting.
They make cruise ships, dumbass.
 
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
What is going on today started in the 18th century. Both parties equally trashed this place. Your party favor had just as much responsibility for what is going on as the other. Yes, yes, yes... I know... denial is a nicer place, but really... stop pointing the finger at others when yours have gun resin on them too.
 
Greece should have been using it's national industry - shipping - to bring tourists to Greece for free. It would have been a Tourist Stimulus. It's one of the most desirable destinations in the world, and people from around the globe would be bringing in hard currency, filling hotels, restaurants, bars. They could make deals with their ship companies to compensate them, with tax eliminations, etc.
You understand most Greek shipping is oil containers, right? Want to ride in one?
What a dunce. I dont even know why you bother posting.
They make cruise ships, dumbass.
Sure they do.
Idjit.
 
Greece is the way it is because the Greeks don't want to work. They are entitled to welfare.
The expectation was that Germany would support them . Germany said no.
 
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.


Are you going to blame the banks when the U.S. collapses? Not the policies?

Goldman Sachs is the darling of government. They will clean up if the cap and trade becomes reality.

Maybe time to do away with the Federal Reserve, as well as a bunch of unsustainable policies, if we don't want to end up like Greece.
 
I arrange a loan to a horrible borrower, and get a fee. I immediately pass the paper for that loan to a sucker. The risk is out of my hands, and now I have more cash to make more bad loans, and make more fees. All the while, all that bad debt is getting passed on to rube private investors who buy into my hocus-pocus marketing gibberish. I even convince the ratings agencies that toxic debt is AAA gold! MWA-HA-HA-HA!

The day of reckoning will come when it is time to revolve all that bad credit, and the house will crash down. But don't worry, the government will rescue the rich investors, and the public will assume all that toxic debt. Yay capitalism! Nothing wrong here!

Even better, the very public I just fucked up the ass will say...get this... I was forced to make those bad loans! You will never never never hear ME say it, but THEY will. BWA-HA-HA-HA-HA!

Oh my god, it's so unfuckinglybelievably good to be in this life.

If you call a hit man and say "I want to kill XXX," who is more at fault for the murder?
If you are a rube from the country with bad credit who wants money to buy some hookers and blow, and across the table from you is a banker schooled in the world of high finance, who is more to blame for you getting a loan?

Who is more to blame: Populist government politicians with the IQs of gnats who want to buy some bread and circuses, or the bankers who got them the loans?

I'm sure the entire Greek nation of 11 million people who willingly joined the eurozone would appreciate you comparing them to rubes from the country who want to spend all their money on hookers and blow.

:thup:

If you wish to lend the Greeks your money, feel free. Nobody forced them to borrow, and nobody forced the banks to lend.

When Greece started to violate the terms of the Maastricht Agreement - as almost all the other countries in the eurozone were doing as well - they hired Goldman Sachs to structure a swap deal that made Greece look less indebted than they were. That way, they could keep borrowing more and more.

Greece is the problem, not the banks. The banks are a convenient scapegoat for a nation that wanted to keep borrowing and spending other people's money, and that should never have been allowed into the eurozone in the first place.
 
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.
 
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
Greece will pull the EU down, possibly trigger a depression there, that will, more than likely come here.

since everyone saw it coming or was told it was coming, I have to assume this was the plan.

No party would intentionally crush it's own country unless that was the plan.
They weren't trying to crush their own country.

They were trying to buy votes. And they figured that a little more here and a little more there, wouldn't make much difference.

Just like here.

And they are getting the inevitable result.

Just like here.
If you're playing basketball, and go for a dunk so hard that you break the glass, you can say; Oh shit, sorry, didn't know that would happen.

If you do it a dozen times in a row, you know it's going to happen and you've been doing it on purpose.



they knew what would happen and crushed their country
 
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
Greece will pull the EU down, possibly trigger a depression there, that will, more than likely come here.

since everyone saw it coming or was told it was coming, I have to assume this was the plan.

No party would intentionally crush it's own country unless that was the plan.

are we looking at a government take over?
the UN running everything?

I used to laugh at people that talked about the "new world order", now, not so much


Well, at least I don't need to ask how stupid you are.

In 2014, the GDP of Eurozone was worth 13.4 TRILLION USD.

Greece's GDP: 249 BILLION DOLLARS

249 / 134000 = 1.8%

The GDP of Greece is worth 1.8% of the entire Eurozone.

That is like a gnat on the back of a donkey.
then give them more money.

if they have nothing, then it would be easy to give them more.
 
This won't pull the EU into a depression. Most of Greece's debt sits in other sovereign and quasi-sovereign entities. The rest is owned by hedge funds. It will have little effect on the financial system as a whole.
 
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


it cant be the welfare state

is just has to be something else

like greedy capitalists or oil men or something like that
 
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

Do you know what welfare means or what actual poverty is?
 
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

^ Bravo!

There's the answer and it not the "Banksters" (with Jewish sounding names)
 
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Sovereign Debt and Deficit by Country - Forbes

freedom-2012-ring-of-fire.png


In March 2010 Bill Grosses drew a similar chart in his newsletter in which he circled the “Ring of Fire” countries to be worried about. We warned to avoid these “ring of fire” countries. And a year later revisited that advice confirming that investors should continue to avoid the “ring of fire.” Now almost a second year later we reiterate that sovereign debt and deficit produces a drag on a country’s economic prospects. Low debt and deficit continues to be one of the important components of economic freedom.

Most investors have heard of the BRIC emerging market countries (Brazil,Russia, India, China). What is important in the Ring of Fire are the PIIGS (Portugal, Ireland, Italy, Greece and Spain) pulling down the European Union. Add to these countries Japan, The United States, and the United Kingdom.
 
frodo-ring.jpg

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If it wasn't for the fact that the dollar is the World's reserve currency...........we'd have went under many a year ago for our own stupidity and debt from hell....................

We are Greece on Steroids......................and the Chickens will eventually come home to roost..............Our unfunded Liabilities ensure this.....................

Do we learn and stop the destruction of our country or kick the can down the road................
Until we face Greece times 1000.............................

Throw the Fucking RIng into the Fire Frodo..................
 
An alcoholic can't get drunk if you cut him off. Is it illegal to sell alcohol to an alcoholic? Not when you get to write the rules.

Greece was the alcoholic, and Wall Street was the bartender that kept pouring. And that bartender made sure Congress didn't outlaw serving booze to drunks.

And now Greece is running people over while the bartender banks his profits.

Along comes Rabbi, "Was anything illegal done by selling that booze to Greece?"


Yes, the EU tried to pump them up, it failed. Who is going to pump up the USA ?

Our problem is not the same problem as the EU. We can easily solve our problem tomorrow. We have at least six options open to us, some of which Greece does not.

But the best solution is for everyone to get off the government tit. You, me, everyone.

Unfortunately, most of you retards can't see you are sucking off way, way more milk than those negroes on food stamps you hate so much.


Kind of a racist post, G. I don't recally anyone saying that only "negroes" were getting food stamps.

But you are correct, the people in general need to get off the govt tit. BTW, Obamacare is the biggest tit anyone has ever sucked.
 
An alcoholic can't get drunk if you cut him off. Is it illegal to sell alcohol to an alcoholic? Not when you get to write the rules.

Greece was the alcoholic, and Wall Street was the bartender that kept pouring. And that bartender made sure Congress didn't outlaw serving booze to drunks.

And now Greece is running people over while the bartender banks his profits.

Along comes Rabbi, "Was anything illegal done by selling that booze to Greece?"

Maybe you don't know any alcoholics.

I do.

What happens is that if the alcoholic can't buy booze at one place, they'll keep going from place to place to place.
Which is EXACTLY the justification the broker-dealers used. "If we don't do it, someone else will, and we will lose out on the fees."

You're learning!


Fees, lol, who's going to pay the fees when the govt is broke and everyone runs on the banks. After the populace has been burned numerous times, you think they're just gonna throw their worthless money back into a bank? Lol!
 

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