Greece

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  • Jason PJason P Posts: 19,156
    Finally, Yahoo has summed the crisis up for someone on my level ...

    http://news.yahoo.com/idiot-guide-greek-debt-crisis-163212268.html
    Be Excellent To Each Other
    Party On, Dudes!
  • inlet13 wrote:
    satansbed wrote:
    inlet13 wrote:
    I still blame government, and don't see how one can't.

    I agree that tax evasion is also an issue (particularly in Italy)... but, it's a government issue nonetheless.

    but just because there is bad governement you can't say we should then have little to no government...


    haha,...

    First and foremost, although I believe you said it in effort to make your point, please don't tell me what I can and can't say in the future, unless I'm breaking a board rule (which I wasn't by saying this issue is a government issue).

    Second, I believe it was a mix of both bad government and large government that caused this problem. To me, in simplicity, that boils down to this being a government problem.

    Third, the reason for that is big government breeds bad government. How? Through a variety of areas like bureaucracy, red-tape, over-reaching into the private sector and squashing private market incentives. Put simply, most efficient businesses maximize profits, whereas big government maximizes public labor... the only way to stop this inherent inefficiency in government is to place constraints on its size, or if needed to minimize it.

    Maybe I'm naive, but I see almost no distinction between large governments and the many capitalist backers who buy and pay for those governments. Do you really think that small governments legitimize private industries which have bent over backwards in the past twenty years to erode worker's rights and eliminate the middle class?

    As I see it, bad governments exist because they are owned and operated by private backers who have gone to huge lengths to deregulate the financial industry allowing banks and securities agencies to literally prey on the middle class. How does deregulation and the elimination of large government negate corporate corruption and the lack of accountability? People freak out when governments provide services to the poor or middle class, but turn a blind eye to trillions of dollars which are pumped into the financial sector only to be paid out to an executive class that never earned it.

    The problem is there is no red tape. How many Wall Street execs. went down for the 2008 crash? How is it that Standard & Poor's can give AAA ratings to trillions in bad debt but then downgrade the US government only to see investors cash in on the mini crash earlier this year? You say we need less red tape but the fact is that nobody is being held accountable today.
  • AELARAAELARA Posts: 803
    There is a good documentary which answers many questions concerning financial crisis. It's called Debtocracy. For those who are interested to watch it here is the link :

    http://www.youtube.com/watch?v=qKpxPo-lInk

    There are english subtitles.
    I am mine!
  • Thoughts_ArriveThoughts_Arrive Melbourne, Australia Posts: 15,165
    Interesting feature on the crisis on a local group focus/chat show called Insight tonight.
    It had economists and a Greek politican, it got heated, the Greek politican pulled out his earpeace and left the show.
    Adelaide 17/11/2009, Melbourne 20/11/2009, Sydney 22/11/2009, Melbourne (Big Day Out Festival) 24/01/2014
  • AELARA wrote:
    There is a good documentary which answers many questions concerning financial crisis. It's called Debtocracy. For those who are interested to watch it here is the link :

    http://www.youtube.com/watch?v=qKpxPo-lInk

    There are english subtitles.
    good call Chryssa
    "...Dimitri...He talks to me...'.."The Ghost of Greece..".
    "..That's One Happy Fuckin Ghost.."
    “..That came up on the Pillow Case...This is for the Greek, With Our Apologies.....”
  • inlet13inlet13 Posts: 1,979

    Maybe I'm naive, but I see almost no distinction between large governments and the many capitalist backers who buy and pay for those governments.

    Even if you believed a large part of the government was funded by "capitalist backers", a way to minimize their power reach is to minimize government.
    Do you really think that small governments legitimize private industries which have bent over backwards in the past twenty years to erode worker's rights and eliminate the middle class?

    Read what you wrote. Bias much? I mean that sentence doesn't really ask a question, it tells your answer with an question mark at the end. Do I agree with you at all? No. In fact, I think large governments build dependence. Kinda like this guy in China was saying:

    http://www.aljazeera.com/programmes/tal ... 64695.html

    As I see it, bad governments exist because they are owned and operated by private backers who have gone to huge lengths to deregulate the financial industry allowing banks and securities agencies to literally prey on the middle class. How does deregulation and the elimination of large government negate corporate corruption and the lack of accountability? People freak out when governments provide services to the poor or middle class, but turn a blind eye to trillions of dollars which are pumped into the financial sector only to be paid out to an executive class that never earned it.

    Well, in my humble opinion, you see it through a tunnel filled with kool-aid. Bad governments exist because bad governments exist. Politicians, in general, are power hungry scum... and guess what....they make up government. Sure, there are exceptions, but for the most part they are power hungry scum. They will do whatever they can to remain in focus and keep their power. Just like a kid who promises shorter school days while running for class president, they lie and lie and lie. They will do whatever they can to stay in power, even if it hurts people. The welfare society is the same. It sounds great. But, handouts are not always what they seem, they breed dependence. For example, rules put in place to keep retirement age or lower it to 55 sounds great, until people are living 20+ years after that... and you have to continue to pay for it. It's not rational. And even if the program had merit in the beginning, it loses it over time... as it becomes broke.
    The problem is there is no red tape. How many Wall Street execs. went down for the 2008 crash? How is it that Standard & Poor's can give AAA ratings to trillions in bad debt but then downgrade the US government only to see investors cash in on the mini crash earlier this year? You say we need less red tape but the fact is that nobody is being held accountable today.

    No, the problem is not that there's no red tape. For example, have you read Dodd-Frank? I am willing to bet a high sum you haven't. It's 2000+ pages of legal jargon. Does that do a lot of good, when the reality is only a few people know what's really in there? Yet, we all have to abide by it... That's red tape.

    Also, I agree people should be held accountable. I'd start with government. They are our elected officials. They should be held to the highest standard.
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  • inlet13 wrote:

    Even if you believed a large part of the government was funded by "capitalist backers", a way to minimize their power reach is to minimize government.

    Fair point.
    inlet13 wrote:
    Read what you wrote. Bias much? I mean that sentence doesn't really ask a question, it tells your answer with an question mark at the end. Do I agree with you at all? No. In fact, I think large governments build dependence. Kinda like this guy in China was saying:

    http://www.aljazeera.com/programmes/tal ... 64695.html

    I'll openly admit to my bias, but lets be honest here; everyone on these forums is incredibly biased. You're certainly not excluded from that characterization. We clearly come from very different political backgrounds. It's hard to take the high road when your response is just as overtly biased as my question. I'm still wondering how small governments can deal with the pressures of large corporations which regularly skirt the law and hide from regulations. If you don't think that this is an issue, then just say so.

    As for your video; I'm not sure if China is the country I'd be looking to when it comes to a dialogue on labor laws.
    inlet13 wrote:

    Well, in my humble opinion, you see it through a tunnel filled with kool-aid. Bad governments exist because bad governments exist. Politicians, in general, are power hungry scum... and guess what....they make up government. Sure, there are exceptions, but for the most part they are power hungry scum. They will do whatever they can to remain in focus and keep their power. Just like a kid who promises shorter school days while running for class president, they lie and lie and lie. They will do whatever they can to stay in power, even if it hurts people. The welfare society is the same. It sounds great. But, handouts are not always what they seem, they breed dependence. For example, rules put in place to keep retirement age or lower it to 55 sounds great, until people are living 20+ years after that... and you have to continue to pay for it. It's not rational. And even if the program had merit in the beginning, it loses it over time... as it becomes broke.

    Again, forgive my ignorance but since when do humble opinions include ad hominem attacks in the first sentence? If you don't respect my opinion; there's no need to even reply. You'll save yourself some time. The description you give to politicians is the way I see the executives of most large corporations. As for the welfare society, Wall Street seems to get bigger handouts than anybody else. You may feel that the poor are the bane of society; I feel it's the rich. As I see it, our viewpoints are so diametrically opposed there probably isn't going to be any worthwhile dialogue here.
    inlet13 wrote:
    No, the problem is not that there's no red tape. For example, have you read Dodd-Frank? I am willing to bet a high sum you haven't. It's 2000+ pages of legal jargon. Does that do a lot of good, when the reality is only a few people know what's really in there? Yet, we all have to abide by it... That's red tape.

    Also, I agree people should be held accountable. I'd start with government. They are our elected officials. They should be held to the highest standard.

    Perhaps I'm missing something, but wouldn't you expect that it would require a considerable amount of legislation to regulate one of the world's most complex capital markets? Most large corporations and banks have internal documents that are every bit as overwhelming. When you consider that most large corporate entities have a small army of lawyers and accountants at their disposal, complex legislation to regulate these groups doesn't seem all that surprising to me.

    As for elected officials; at least they can be voted out of office. No such luck with some of the crooks on Wall Street.
  • Thoughts_ArriveThoughts_Arrive Melbourne, Australia Posts: 15,165
    Adelaide 17/11/2009, Melbourne 20/11/2009, Sydney 22/11/2009, Melbourne (Big Day Out Festival) 24/01/2014
  • inlet13inlet13 Posts: 1,979

    I'll openly admit to my bias, but lets be honest here; everyone on these forums is incredibly biased. You're certainly not excluded from that characterization. We clearly come from very different political backgrounds. It's hard to take the high road when your response is just as overtly biased as my question. I'm still wondering how small governments can deal with the pressures of large corporations which regularly skirt the law and hide from regulations. If you don't think that this is an issue, then just say so.

    In my opinion small governments are actually better equipped than large governments to regulate (if needed). Why? Answers: less bureaucracy, more transparency, less special interest motivation, less red tape and so on...


    As for the video, the Chinese leader was discussing the sloth and laziness of the welfare society. Ironic, when a semi-communist country is lecturing "Western" countries on sloth and laziness of welfare.

    Again, forgive my ignorance but since when do humble opinions include ad hominem attacks in the first sentence? If you don't respect my opinion; there's no need to even reply. You'll save yourself some time. The description you give to politicians is the way I see the executives of most large corporations. As for the welfare society, Wall Street seems to get bigger handouts than anybody else. You may feel that the poor are the bane of society; I feel it's the rich. As I see it, our viewpoints are so diametrically opposed there probably isn't going to be any worthwhile dialogue here.

    It wasn't an attack at all, and I'm sorry you felt it that way. I was responding to "how you see it". And explaining that I think you see things through rose colored glasses, you can feel the same about me if you'd like.

    Anyway, on to the point.... I find it interesting that you complete skate by the characterization of politicians. I'll say this... I think the average worker is ten times the man the average politician is. You can say the CEOs are evil though... I say there are some creep CEOs, but on a whole, I'd say CEOs are even better people then politicians. Regardless, CEOs aren't voted in by the citizenry... politicians are.

    I think the bailouts were bad altogether. It seems to me you think bailouts are ok sometimes and not ok others,.. I think they create a moral hazard in all situations, and because of that, and additional reasons... they are bad.


    Perhaps I'm missing something, but wouldn't you expect that it would require a considerable amount of legislation to regulate one of the world's most complex capital markets? Most large corporations and banks have internal documents that are every bit as overwhelming. When you consider that most large corporate entities have a small army of lawyers and accountants at their disposal, complex legislation to regulate these groups doesn't seem all that surprising to me.

    It was complex so they could sneak in issues that had nothing to do with the issue they were saying they were tackling. That's always the case. It happens in bureaucratic mechanisms.... and is the definition of red-tape.
    As for elected officials; at least they can be voted out of office. No such luck with some of the crooks on Wall Street.

    Problem is the elected officials are pointing the finger at Wall Street like they were the sole problem, and people like you are buying that. It's laughable. So, we don't vote them out...

    Also, just so you know, shareholders can "vote" out CEOs, it's just a different mechanism than an electoral system. Ironically, they can do it at any time, whereas in our political system, we can only do it so often.
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  • inlet13inlet13 Posts: 1,979
    inlet13 wrote:
    i read that the eu is all up in arms because the greek people are now getting to vote on the deal that had been worked out. this is going to get good.

    also the head of the military has been sacked. from what i have read greece has a history of military coups...


    My bet:

    This will go up and down, just like it has (and we'll all see this reflected in our stock market, 1000 up one week, 1000 back the next). The Greek government has to know what's at stake. So, they will pretend to go along with the EU, but at the same time they will gimmick to get on the good side of their citizens. At some point the house of cards will collapse.

    This will get very, very ugly. Probably once Italy gets more of the spotlight. Once investors and the general citizen becomes aware of how pervasive this problem is... it will be all out terror.

    Recession #2, here we come... just a matter of when.

    Based on the DOW today, I think this post was pretty much right on... Italy's now got the spotlight on them.
    Here's a new demo called "in the fire":

    <object height="81" width="100%"> <param name="movie" value="https://player.soundcloud.com/player.swf?url=http://api.soundcloud.com/tracks/28998869&quot;&gt;&lt;/param&gt; <param name="allowscriptaccess" value="always"></param> <embed allowscriptaccess="always" height="81" src="https://player.soundcloud.com/player.swf?url=http://api.soundcloud.com/tracks/28998869&quot; type="application/x-shockwave-flash" width="100%"></embed> </object> <span><a href=" - In the Fire (demo)</a> by <a href="
  • pandorapandora Posts: 21,855
    AELARA wrote:
    There is a good documentary which answers many questions concerning financial crisis. It's called Debtocracy. For those who are interested to watch it here is the link :

    http://www.youtube.com/watch?v=qKpxPo-lInk

    There are english subtitles.
    I am enjoying, although the very beginning was startling
    I believe an advertisement

    I bookmarked to study the documentary at my leisure
    very kind of you to post for us ... thank you

    my heart and thoughts and prayers are with your country Greece
  • AELARAAELARA Posts: 803
    pandora wrote:
    AELARA wrote:
    There is a good documentary which answers many questions concerning financial crisis. It's called Debtocracy. For those who are interested to watch it here is the link :

    http://www.youtube.com/watch?v=qKpxPo-lInk

    There are english subtitles.
    I am enjoying, although the very beginning was startling
    I believe an advertisement

    I bookmarked to study the documentary at my leisure
    very kind of you to post for us ... thank you

    my heart and thoughts and prayers are with your country Greece


    Thank you for your kind words.
    Yes indeed I think it was an advertisement or something like that.
    When you have the time to watch it let me know your opinion about it. :)
    I am mine!
  • pandorapandora Posts: 21,855
    AELARA wrote:
    pandora wrote:
    AELARA wrote:
    There is a good documentary which answers many questions concerning financial crisis. It's called Debtocracy. For those who are interested to watch it here is the link :

    http://www.youtube.com/watch?v=qKpxPo-lInk

    There are english subtitles.
    I am enjoying, although the very beginning was startling
    I believe an advertisement

    I bookmarked to study the documentary at my leisure
    very kind of you to post for us ... thank you

    my heart and thoughts and prayers are with your country Greece


    Thank you for your kind words.
    Yes indeed I think it was an advertisement or something like that.
    When you have the time to watch it let me know your opinion about it. :)

    My mind is not very political, I will try my best.

    I might get distracted by the filming, I can see that coming already ...
    the lovely dog laying on the sidewalk... then crossing the street...
    I worried about him :oops:
    but I will let you know what I think :D
  • FiveB247xFiveB247x Posts: 2,330
    Why? They've created their own mess, perhaps they should lie in the result. They are not victims here.. they are the reason for their own demise.
    pandora wrote:

    my heart and thoughts and prayers are with your country Greece
    CONservative governMENt

    Our government is the potent, the omnipresent teacher. For good or for ill, it teaches the whole people by its example. Crime is contagious. If the government becomes a law-breaker, it breeds contempt for law; it invites every man to become a law unto himself; it invites anarchy. - Louis Brandeis
  • CH156378CH156378 Posts: 1,539
    inlet13 wrote:
    inlet13 wrote:
    i read that the eu is all up in arms because the greek people are now getting to vote on the deal that had been worked out. this is going to get good.

    also the head of the military has been sacked. from what i have read greece has a history of military coups...


    My bet:

    This will go up and down, just like it has (and we'll all see this reflected in our stock market, 1000 up one week, 1000 back the next). The Greek government has to know what's at stake. So, they will pretend to go along with the EU, but at the same time they will gimmick to get on the good side of their citizens. At some point the house of cards will collapse.

    This will get very, very ugly. Probably once Italy gets more of the spotlight. Once investors and the general citizen becomes aware of how pervasive this problem is... it will be all out terror.

    Recession #2, here we come... just a matter of when.

    Based on the DOW today, I think this post was pretty much right on... Italy's now got the spotlight on them.
    http://news.yahoo.com/blogs/lookout/eco ... 57105.html
  • inlet13inlet13 Posts: 1,979
    CH156378 wrote:


    Most economists raised their likelihood of recession from 25% to 33% a few months ago, now some have changed it back at 25%. Wow. That's awesome, right?

    I'm not wavering from my call. There will be a new U.S. recession as a result of this sovereign debt fiasco. First, Europe will fall into recession. Then we will. Then the world will. Just wait.

    The most noticeable trigger will most likely happen in the next 3-6 months. I think we'll get negative growth by Q1 or Q2 2012... and fall into recession by Q3 or Q4 2012.
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  • CH156378CH156378 Posts: 1,539
    inlet13 wrote:
    CH156378 wrote:


    Most economists raised their likelihood of recession from 25% to 33% a few months ago, now some have changed it back at 25%. Wow. That's awesome, right?

    I'm not wavering from my call. There will be a new U.S. recession as a result of this sovereign debt fiasco. First, Europe will fall into recession. Then we will. Then the world will. Just wait.

    The most noticeable trigger will most likely happen in the next 3-6 months. I think we'll get negative growth by Q1 or Q2 2012... and fall into recession by Q3 or Q4 2012.

    "Just because you believe something doesn't make it true." John Kerry
  • inlet13inlet13 Posts: 1,979
    CH156378 wrote:
    inlet13 wrote:
    CH156378 wrote:


    Most economists raised their likelihood of recession from 25% to 33% a few months ago, now some have changed it back at 25%. Wow. That's awesome, right?

    I'm not wavering from my call. There will be a new U.S. recession as a result of this sovereign debt fiasco. First, Europe will fall into recession. Then we will. Then the world will. Just wait.

    The most noticeable trigger will most likely happen in the next 3-6 months. I think we'll get negative growth by Q1 or Q2 2012... and fall into recession by Q3 or Q4 2012.

    "Just because you believe something doesn't make it true." John Kerry

    Wow. That was an amazing statement.
    Here's a new demo called "in the fire":

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  • CH156378CH156378 Posts: 1,539
    http://bottomline.msnbc.msn.com/_news/2 ... bove-12000

    i also looked out the window today. it is cloudy. i am predicting a 50% chance of rain.
    not only am i an economist, i am also a weatherman!
  • inlet13inlet13 Posts: 1,979
    CH156378 wrote:
    http://bottomline.msnbc.msn.com/_news/2011/11/11/8758652-stocks-soar-amid-progress-in-europe-dow-back-above-12000

    i also looked out the window today. it is cloudy. i am predicting a 50% chance of rain.
    not only am i an economist, i am also a weatherman!


    was waiting for the right time to say this stuff goes up and down...


    http://finance.yahoo.com/news/stock-fut ... 01276.html

    ...if it keeps going up, you're right. If it doesn't, I am. Let's see what happens.
    Here's a new demo called "in the fire":

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  • CH156378CH156378 Posts: 1,539
    inlet13 wrote:
    CH156378 wrote:
    http://bottomline.msnbc.msn.com/_news/2011/11/11/8758652-stocks-soar-amid-progress-in-europe-dow-back-above-12000

    i also looked out the window today. it is cloudy. i am predicting a 50% chance of rain.
    not only am i an economist, i am also a weatherman!


    was waiting for the right time to say this stuff goes up and down...


    http://finance.yahoo.com/news/stock-fut ... 01276.html

    ...if it keeps going up, you're right. If it doesn't, I am. Let's see what happens.

    Do you hope your right?
  • catefrancescatefrances Posts: 29,003
    CH156378 wrote:
    http://bottomline.msnbc.msn.com/_news/2011/11/11/8758652-stocks-soar-amid-progress-in-europe-dow-back-above-12000

    i also looked out the window today. it is cloudy. i am predicting a 50% chance of rain.
    not only am i an economist, i am also a weatherman!

    if you can cook as well, youre the complete man. :P :lol:
    hear my name
    take a good look
    this could be the day
    hold my hand
    lie beside me
    i just need to say
  • CH156378 wrote:
    http://bottomline.msnbc.msn.com/_news/2011/11/11/8758652-stocks-soar-amid-progress-in-europe-dow-back-above-12000

    i also looked out the window today. it is cloudy. i am predicting a 50% chance of rain.
    not only am i an economist, i am also a weatherman!

    if you can cook as well, youre the complete man. :P :lol:
    + if he can do it like Greek does.,then he is complete man
    "...Dimitri...He talks to me...'.."The Ghost of Greece..".
    "..That's One Happy Fuckin Ghost.."
    “..That came up on the Pillow Case...This is for the Greek, With Our Apologies.....”
  • inlet13inlet13 Posts: 1,979
    inlet13 wrote:
    CH156378 wrote:
    http://bottomline.msnbc.msn.com/_news/2011/11/11/8758652-stocks-soar-amid-progress-in-europe-dow-back-above-12000

    i also looked out the window today. it is cloudy. i am predicting a 50% chance of rain.
    not only am i an economist, i am also a weatherman!


    was waiting for the right time to say this stuff goes up and down...


    http://finance.yahoo.com/news/stock-fut ... 01276.html

    ...if it keeps going up, you're right. If it doesn't, I am. Let's see what happens.


    No, not at all... but, I think I am, unfortunately.

    Nothing says things look great to me... in fact, it's just the opposite. I don't see why anyone would think things do look good or even promising on either side of the debate.
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  • CH156378CH156378 Posts: 1,539
    inlet13 wrote:


    My bet:

    This will go up and down, just like it has (and we'll all see this reflected in our stock market, 1000 up one week, 1000 back the next). The Greek government has to know what's at stake. So, they will pretend to go along with the EU, but at the same time they will gimmick to get on the good side of their citizens. At some point the house of cards will collapse.

    This will get very, very ugly. Probably once Italy gets more of the spotlight. Once investors and the general citizen becomes aware of how pervasive this problem is... it will be all out terror.

    Recession #2, here we come... just a matter of when.

    Sounds scary.
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