Greece tells banking cartel STICK IT

[montelatici]

Just 10% went to the Greek People, the rest went to the Bankers.

http://www.keeptalkinggreece.com/20...eeces-bailout-money-go-mostly-to-the-lenders/

Yes, I quoted another article on another thread that calculated the same figure. Essentially, taxpayers are taking on debt to be paid back in taxes to pay interest to holders of Greek bonds. LOL

 

[Synthaholic]

Correct. What legislation has the GOP House, under Boehner, written to raise revenue toward paying off the debt?

They've had since 2011.

They have written continuing resolutions, which the president has signed into law. So to say the President "hasn't spent anything", is patently false.

Are you talking about bills to fund the people's government?

Or are you talking about big money Obama projects that cost trillions? Because there aren't any of those.

Continuing Resolutions to fund the government cost trillions, and Obama signs them.

Seven and half trillion dollars in debt since he entered office is a "big money project".

Funding the government isn't what got us to $17 trillion.

And don't expect me to explain it all to you. That's been done enough, with factual links to back them up.

Use own damn Google to find out how much the unpaid-for tax cuts cost, the unpaid-for war in Iraq cost, the unpaid-for war in Afghanistan cost, the unpaid-for Medicare D cost, and the unpaid-for 2002 stimulus cost.

Gee all those were under Bush and when he left office the debt was $10T and now its $18T. It's like Obama did nothing for 7 years!

Republicans forced austerity upon us, blocking and filibustering every revenue-producing bill. Then, they forced sequestration upon us, and blocked Obama's efforts to force overseas money to come home and be taxed, which could be used to pay down the debt. Republicans also are blocking the cancellation of military contracts for items that the military says they don't want or need. That is money - 10s of billions - that could be used to pay down the debt.

 

[Synthaholic]

Kids the Banks are preparing to seize depositors money. There is no free ride.

I have seen no evidence of that, although I wouldnt put it past them
Greece is unsustainable. It will require nothing short of revolution to fix the problem.

All it needs is a capable IRS.

 

[Sun Devil 92]

They have written continuing resolutions, which the president has signed into law. So to say the President "hasn't spent anything", is patently false.

Are you talking about bills to fund the people's government?

Or are you talking about big money Obama projects that cost trillions? Because there aren't any of those.

Continuing Resolutions to fund the government cost trillions, and Obama signs them.

Seven and half trillion dollars in debt since he entered office is a "big money project".

Funding the government isn't what got us to $17 trillion.

And don't expect me to explain it all to you. That's been done enough, with factual links to back them up.

Use own damn Google to find out how much the unpaid-for tax cuts cost, the unpaid-for war in Iraq cost, the unpaid-for war in Afghanistan cost, the unpaid-for Medicare D cost, and the unpaid-for 2002 stimulus cost.

Gee all those were under Bush and when he left office the debt was $10T and now its $18T. It's like Obama did nothing for 7 years!

Republicans forced austerity upon us, blocking and filibustering every revenue-producing bill. Then, they forced sequestration upon us, and blocked Obama's efforts to force overseas money to come home and be taxed, which could be used to pay down the debt. Republicans also are blocking the cancellation of military contracts for items that the military says they don't want or need. That is money - 10s of billions - that could be used to pay down the debt.

I think some references or links would be useful.

 

[Synthaholic]

You don't get into debt by not spending. You get into debt by spending money you don't have.

You get out of debt by making more money. The country will make more money by expanding the tax base. You do that with large public works projects, as FDR did.

We can do the same by massive infrastructure spending on roads, bridges, new airports, seawalls (climate change), and more Green installations, in solar panels, wind, etc.

 

[Synthaholic]

Are you talking about bills to fund the people's government?

Or are you talking about big money Obama projects that cost trillions? Because there aren't any of those.

Continuing Resolutions to fund the government cost trillions, and Obama signs them.

Seven and half trillion dollars in debt since he entered office is a "big money project".

Funding the government isn't what got us to $17 trillion.

And don't expect me to explain it all to you. That's been done enough, with factual links to back them up.

Use own damn Google to find out how much the unpaid-for tax cuts cost, the unpaid-for war in Iraq cost, the unpaid-for war in Afghanistan cost, the unpaid-for Medicare D cost, and the unpaid-for 2002 stimulus cost.

Gee all those were under Bush and when he left office the debt was $10T and now its $18T. It's like Obama did nothing for 7 years!

Republicans forced austerity upon us, blocking and filibustering every revenue-producing bill. Then, they forced sequestration upon us, and blocked Obama's efforts to force overseas money to come home and be taxed, which could be used to pay down the debt. Republicans also are blocking the cancellation of military contracts for items that the military says they don't want or need. That is money - 10s of billions - that could be used to pay down the debt.

I think some references or links would be useful.

Congress Pushes for Weapons Pentagon Didn t Want Military.com

 

[Sun Devil 92]

Continuing Resolutions to fund the government cost trillions, and Obama signs them.

Seven and half trillion dollars in debt since he entered office is a "big money project".

Funding the government isn't what got us to $17 trillion.

And don't expect me to explain it all to you. That's been done enough, with factual links to back them up.

Use own damn Google to find out how much the unpaid-for tax cuts cost, the unpaid-for war in Iraq cost, the unpaid-for war in Afghanistan cost, the unpaid-for Medicare D cost, and the unpaid-for 2002 stimulus cost.

Gee all those were under Bush and when he left office the debt was $10T and now its $18T. It's like Obama did nothing for 7 years!

Republicans forced austerity upon us, blocking and filibustering every revenue-producing bill. Then, they forced sequestration upon us, and blocked Obama's efforts to force overseas money to come home and be taxed, which could be used to pay down the debt. Republicans also are blocking the cancellation of military contracts for items that the military says they don't want or need. That is money - 10s of billions - that could be used to pay down the debt.

I think some references or links would be useful.

Congress Pushes for Weapons Pentagon Didn t Want Military.com

Thank you.

Now, can you provide the debt impact....do you have an article on that ?

 

[Steinlight]

You don't get into debt by not spending. You get into debt by spending money you don't have.

You get out of debt by making more money. The country will make more money by expanding the tax base. You do that with large public works projects, as FDR did.

We can do the same by massive infrastructure spending on roads, bridges, new airports, seawalls (climate change), and more Green installations, in solar panels, wind, etc.

Where is the money for your "massive infrastructure spending"(of an unspecified amount) going to come from?

 

[The Rabbi]

You don't get into debt by not spending. You get into debt by spending money you don't have.

You get out of debt by making more money. The country will make more money by expanding the tax base. You do that with large public works projects, as FDR did.

We can do the same by massive infrastructure spending on roads, bridges, new airports, seawalls (climate change), and more Green installations, in solar panels, wind, etc.

Obama passed a trillion dollar stimulus with lots of public works projects and we've had 7 years of the most tepid growth post War in history.

 

[montelatici]

You don't get into debt by not spending. You get into debt by spending money you don't have.

You get out of debt by making more money. The country will make more money by expanding the tax base. You do that with large public works projects, as FDR did.

We can do the same by massive infrastructure spending on roads, bridges, new airports, seawalls (climate change), and more Green installations, in solar panels, wind, etc.

Where is the money for your "massive infrastructure spending"(of an unspecified amount) going to come from?

The money comes from the presses, that's where the money for infrastructure spending stimulus has always come from. One of the reasons the Eurozone is in the mess it is in is because the Germans refused to allow the massive QE that the U.S. implemented in 2008 and that continued until a few months ago.

 

[The Rabbi]

You don't get into debt by not spending. You get into debt by spending money you don't have.

You get out of debt by making more money. The country will make more money by expanding the tax base. You do that with large public works projects, as FDR did.

We can do the same by massive infrastructure spending on roads, bridges, new airports, seawalls (climate change), and more Green installations, in solar panels, wind, etc.

Where is the money for your "massive infrastructure spending"(of an unspecified amount) going to come from?

The money comes from the presses, that's where the money for infrastructure spending stimulus has always come from. One of the reasons the Eurozone is in the mess it is in is because the Germans refused to allow the massive QE that the U.S. implemented in 2008 and that continued until a few months ago.

Money doesnt come from presses. Inflation comes from presses.

 

[IsaacNewton]

Headlines the last couple days, "Greece in talks with Russia", "Russia, China and other nations form new world bank", "Greece could leave Nato".

As I said, all the bad players around the world are watching. A vacuum in politics is quickly filled and the Eurozone and Nato better get this figured out, there is a lot more at stake than an economy that is about the same size as Miami or Seattle.

Predatory lending is shifting the balance of economic power to nations we'd rather didn't have it.

You dimbos that want to compare Greece to lending your uncle money, you see the difference now?

 

[The Rabbi]

Headlines the last couple days, "Greece in talks with Russia", "Russia, China and other nations form new world bank", "Greece could leave Nato".

As I said, all the bad players around the world are watching. A vacuum in politics is quickly filled and the Eurozone and Nato better get this figured out, there is a lot more at stake than an economy that is about the same size as Miami or Seattle.

Predatory lending is shifting the balance of economic power to nations we'd rather didn't have it.

You dimbos that want to compare Greece to lending your uncle money, you see the difference now?

You're a dumbass.
Russia has no money. They cant bail Greece out, much less keep them supplied with a flow of funds. Check the Chinese stock markets today--total freefall. They have their own problems.
There was no predatory lending. There was predatory borrowing. And now the Greeks have been caught up in it. Best thing for Europe is to flush those socialist turds down the toilet of history and let them figure it out for themselves.

 

[IsaacNewton]

Headlines the last couple days, "Greece in talks with Russia", "Russia, China and other nations form new world bank", "Greece could leave Nato".

As I said, all the bad players around the world are watching. A vacuum in politics is quickly filled and the Eurozone and Nato better get this figured out, there is a lot more at stake than an economy that is about the same size as Miami or Seattle.

Predatory lending is shifting the balance of economic power to nations we'd rather didn't have it.

You dimbos that want to compare Greece to lending your uncle money, you see the difference now?

You're a dumbass.
Russia has no money. They cant bail Greece out, much less keep them supplied with a flow of funds. Check the Chinese stock markets today--total freefall. They have their own problems.
There was no predatory lending. There was predatory borrowing. And now the Greeks have been caught up in it. Best thing for Europe is to flush those socialist turds down the toilet of history and let them figure it out for themselves.

Ah yes, the naïve speak. You must be a supporter of Ronald The Socialist Raygun.

Prolonged exposure to con-talk-radio and Faux News will turn your mind to extremely mallable mush. Et tu Brute?

 

[The Rabbi]

Headlines the last couple days, "Greece in talks with Russia", "Russia, China and other nations form new world bank", "Greece could leave Nato".

As I said, all the bad players around the world are watching. A vacuum in politics is quickly filled and the Eurozone and Nato better get this figured out, there is a lot more at stake than an economy that is about the same size as Miami or Seattle.

Predatory lending is shifting the balance of economic power to nations we'd rather didn't have it.

You dimbos that want to compare Greece to lending your uncle money, you see the difference now?

You're a dumbass.
Russia has no money. They cant bail Greece out, much less keep them supplied with a flow of funds. Check the Chinese stock markets today--total freefall. They have their own problems.
There was no predatory lending. There was predatory borrowing. And now the Greeks have been caught up in it. Best thing for Europe is to flush those socialist turds down the toilet of history and let them figure it out for themselves.

Ah yes, the naïve speak. You must be a supporter of Ronald The Socialist Raygun.

Prolonged exposure to con-talk-radio and Faux News will turn your mind to extremely mallable mush. Et tu Brute?

So you cannot answer any of my points or defend your own views.
This is typical. You're a waste of bandwidth.

 

[LogikAndReazon]

The Greeks understand that they need to borrow and spend to promote growth ! Just like obama understands.

Bureaucrats to the rescue ! Lol

 

[IsaacNewton]

Headlines the last couple days, "Greece in talks with Russia", "Russia, China and other nations form new world bank", "Greece could leave Nato".

As I said, all the bad players around the world are watching. A vacuum in politics is quickly filled and the Eurozone and Nato better get this figured out, there is a lot more at stake than an economy that is about the same size as Miami or Seattle.

Predatory lending is shifting the balance of economic power to nations we'd rather didn't have it.

You dimbos that want to compare Greece to lending your uncle money, you see the difference now?

You're a dumbass.
Russia has no money. They cant bail Greece out, much less keep them supplied with a flow of funds. Check the Chinese stock markets today--total freefall. They have their own problems.
There was no predatory lending. There was predatory borrowing. And now the Greeks have been caught up in it. Best thing for Europe is to flush those socialist turds down the toilet of history and let them figure it out for themselves.

Ah yes, the naïve speak. You must be a supporter of Ronald The Socialist Raygun.

Prolonged exposure to con-talk-radio and Faux News will turn your mind to extremely mallable mush. Et tu Brute?

So you cannot answer any of my points or defend your own views.
This is typical. You're a waste of bandwidth.

Nah, you are just one angry frother. You poor thing, you think you have coherence but you don't.

Conservatives don't understand economics, going all the way back to Raygun. They never have and never will.

 

[LogikAndReazon]

Greece only needs to raise the minimum wage to right the economy.
And invest in infrastructure and sustained energy........ Lmfao

 

[dcraelin]

Greece voted down the knife that international banks had to their throat.

The Greeks are looking at tough times no matter how they voted, so the birthplace of Democracy kicked the fascist international banks in the face and they've said in one loud voice you aren't going to turn us into slaves.
Now those very banks will be FORCED to negotiate a more equitable settlement and payment package because they have no choice

For Europe to even put the oldest democracy in such jeopardy, while insane entities like Isis watch, is beyond unforgivable. You can't squeeze blood from an orange. No matter what, the various financial institutions HAVE to work out a deal with the Greeks.

I applaud the Greeks for standing their ground. They will climb out of this financial disaster, like America has had to climb out of the Bush/Republican financial disaster handed to it in 2008, and come out whole.

What they did today was give notice that you 'don't f#$k with democracy'.

I think the scum bankers got out early, the people on the hook now are taxpayers in the rest of Europe. Still the best course for both Europe and Greece is for Greece to get out of the European Union and create their own currency.

 

[Toro]

They appear to be hoping to shame people into loaning them money, holding their people for ransom.

It's a high-risk, lousy investment, and everyone knows it, that's why they want Greece on its own.

.

I heard the plan was they will simply confiscate money in people's bank accounts, calling it a "bail in".
Gov't will always go where the money is. Same reason people rob banks.

It's a legitimate way to restructure a bank. Deposits are a liability of the bank. A bust bank has to restructure its liabilities. That can include deposits. Before FDIC, banks did that all the time in America.

Wrong. Before FDIC, banks that couldn't pay off their depositors closed their doors.

Sent from my SM-N910V using Tapatalk

Banks that couldn't pay off their depositors in full either were shut down, borrowed from other banks or called capital from their shareholders to meet their claims, or were sold. If the bank was shut down, all liabilities were paid off based on the assets of a bank, just like any other bankrupt business. Deposits are liabilities of the bank, and depositors have claims on the bank. So when a bank was insolvent, the assets were liquidated and claims holders, including depositors, were paid back at less than par.

In other words, just what I said.

My original post was correct. You said it was wrong. Then I expanded on my original post. Now you say it is correct.

Depositors are creditors of the bank. If the bank goes bust, depositors don't get their money back without FDIC insurance. They get a haircut, aka a "bail-in." That's how banking works, or is supposed to work.