Discussion Topic |
|
This thread has been locked |
BLUEBLOCR
Social climber
joshua tree
|
|
|
Jul 12, 2015 - 10:13pm PT
|
isn't Greece just wanting to copy us copying the Keynesian?
|
|
Ken M
Mountain climber
Los Angeles, Ca
|
|
|
Jul 12, 2015 - 11:02pm PT
|
I now understand why US federal debt has grown so little since Jan 2009.
Well, President Obama got stuck with TWO wars, which President Bush kept off the budget, hiding it financially.
the preference was to raise taxes (end special low tax rates for the rich), but the democrats didn't have the votes.
So the only alternative was to borrow, or to shut both wars down abruptly.
Republicans found borrowing the more acceptable, and allowed that to happen.
RE: ARRA. It worked. Remember what the Republicans, in their financial expertise offered: Mit guaranteed that by the end of his first term, unemployment would be down to EIGHT PERCENT.
Gosh, that would have been much better than where we are......
|
|
Gunkie
climber
|
|
|
Jul 13, 2015 - 05:57am PT
|
I cannot believe the Greeks are getting yet another line of credit. I didn't put any money in the market betting one way or the other, but I would have bet on a Grexit. If you bet right, you could have made a lot of money today.
|
|
fear
Ice climber
hartford, ct
|
|
|
Jul 13, 2015 - 06:27am PT
|
The can will be kicked until the can cannot be kicked.
|
|
madbolter1
Big Wall climber
Denver, CO
|
|
|
Jul 13, 2015 - 07:18am PT
|
^^^^ True dat.
|
|
Ken M
Mountain climber
Los Angeles, Ca
|
|
|
Jul 13, 2015 - 10:00am PT
|
Lets get real libtardios ,, The natl debt has risen far sharper under OBama than it did under Bush.
Yeah, lets get real, rong.
Next time you're out on a boat, we'll throw a 500 lb anchor overboard, and hand the anchor rope that is unwinding, to you. Then, when you hit the bottom of the ocean, we can cackle about what a fool you were to take over someone else's problem.
One can argue over who was responsible for the biggest recession in history. No debate that it began on Bush's watch.
There is also no doubt as to the two competing ideas to get us out of it: Obama and Romney.
Obama has got us to nearly 6 percent
Romney promised to get us to 8 percent unemployment.
We are not burying servicemen every week anymore, but the Repugs just consider them disposable equipment.
|
|
Ken M
Mountain climber
Los Angeles, Ca
|
|
|
Jul 13, 2015 - 10:04am PT
|
this package was totally predictable.
Markets, economies, gov't's do not like uncertainty.
What would have happened if Greece had failed?
Who knows?
Set off another recession? Progressive failure of EU countries?
Worldwide stock crashes? Revolutionary gov't changes?
Or where we are this morning-----stability in all those things.
Who would have make the other choice who held a responsible job?
|
|
BLUEBLOCR
Social climber
joshua tree
|
|
|
Jul 13, 2015 - 10:54am PT
|
Who would have make the other choice who held a responsible job?
What kind of responsibility are we teaching when we forgive debt and continue handing trillions over to greedy politicians????
|
|
JEleazarian
Trad climber
Fresno CA
|
|
|
Jul 13, 2015 - 11:22am PT
|
Markets, economies, gov't's do not like uncertainty.
What would have happened if Greece had failed?
Who knows?
Ken, the markets know that sooner or later Greece will fail to repay its debt. That's why the only source of "bailout" funding is from governments. What we don't know is what misery the Greeks will undergo as economic reality forces those who retired in reliance on government pensions to get less real pension income.
I wish I saw an easy or a simple solution, but this can gets increasingly difficult to kick down the road.
And I would add that while Greece makes a metaphor of some use for states of the US, I think the situation of US debt differs substantially from that of Greece, if for no other reason than we can repay our national debt in our national currency, over which no other nation has control.
John
|
|
skitch
Gym climber
Bend Or
|
|
|
Jul 13, 2015 - 01:39pm PT
|
Nows the time to buy some stocks!!!
(hint, hint. . .buy low sell high?!?)
|
|
pyro
Big Wall climber
Calabasas
|
|
|
Jul 13, 2015 - 02:17pm PT
|
the only source of "bailout" funding is from governments
yerp! China just did that
|
|
Reilly
Mountain climber
The Other Monrovia- CA
|
|
|
Jul 13, 2015 - 02:19pm PT
|
Well, Skitch, that advice jibes with yer residence: BendO'r. ;-)
|
|
rottingjohnny
Sport climber
mammoth lakes ca
|
|
|
Jul 13, 2015 - 02:20pm PT
|
doh...... !
|
|
Brokedownclimber
Trad climber
Douglas, WY
|
|
|
Jul 13, 2015 - 07:36pm PT
|
Seems that while I was away this thread underwent a hijacking and suffered from scope creep. We were intelligently discussing the Greek Crisis, not Libtard U.S. Politics.
Unfortunately the usual suspects crept in and nearly destroyed the decent dialogue that was being conducted in a civil manner, free of personal attacks and slander.
From my viewpoint, the crisis is FAR from over, since all the players are simply postponing the true Day of Judgment; it's called in the popular media, "Kicking the Can Down the Road." Bottom line: the Germans are fukked; as a corollary: the Greeks are fukked.
The austerity measures are stifling the Greek economy to an extent that makes the availability of any revenues to tax, and thereby pay back the "bailout loans," a moot point. The Greek economy couldn't generate enough revenues to pay off Eu 326 Billion, and yet, they are being "asked" to now pay back Eu 400 Billion. It. Ain't. Gonna. Happen.
|
|
Reilly
Mountain climber
The Other Monrovia- CA
|
|
|
Jul 13, 2015 - 09:05pm PT
|
This is the economic redux of the 1938 Munich Agreement.
The only question now is either when is Round Four or when do the Panzers roll?
|
|
rottingjohnny
Sport climber
mammoth lakes ca
|
|
|
Jul 13, 2015 - 09:21pm PT
|
Brokendown...The usual suspect , Reilly , crept in again...Now his Panzers seem to be in a bunch...Damn him...rj
|
|
Ken M
Mountain climber
Los Angeles, Ca
|
|
|
Jul 13, 2015 - 09:42pm PT
|
What kind of responsibility are we teaching when we forgive debt and continue handing trillions over to greedy politicians????
We are teaching that when someone is put into a position of responsibility for an economy, they should make decisions that do not crash that economy on their watch.
You appear to want to teach that to PROVE A POINT, you would deliberately put at risk the entire EU. What you would learn is how to collect unemployment.
|
|
Ken M
Mountain climber
Los Angeles, Ca
|
|
|
Jul 13, 2015 - 09:44pm PT
|
KenMmmmmmmmm, sorry to dash your hopes of my drowning, but id be smart enough to lash that anchor rope the the bow long before the weight of that anchor hit me. Apparently Obama didn't know the "knots" or how to secure that anchor.
REALLY? And yet, he fixed the recession and unemployment faster than any Repug said that they could.
Fancy that.
|
|
BLUEBLOCR
Social climber
joshua tree
|
|
|
Jul 13, 2015 - 10:25pm PT
|
You appear to want to teach that to PROVE A POINT, you would deliberately put at risk the entire EU. What you would learn is how to collect unemployment.
i've learned that when borrowing money there has to be a POINT.
my neighbor stopped making payments on his car. They came and took it. Now he walks.
Greece has had 10 yrs to get their affairs inorder, and they continue to spend more then they earn. It's time to lay off the baklava. They decline on their loan and offer no apology or plan for a different direction. Then basically demand more money. i understand wanting to help the people of Greece, but at the same time there has to be a change in the upper tier..
|
|
|
SuperTopo on the Web
|
Let us know!