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Post by BeenThere...DoneThat... on Feb 23, 2011 13:41:01 GMT -5
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Deleted
Joined: Mar 28, 2024 17:54:15 GMT -5
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Post by Deleted on Feb 23, 2011 13:52:48 GMT -5
Pretty soon it will be easier to start threads about who is NOT rioting.
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Post by Savoir Faire-Demogague in NJ on Feb 23, 2011 14:32:29 GMT -5
Someone correct me here but wasn't the Greece financial crisis in the news about four or five months ago? They were about to go under and were bailed out by the other European countries who themselves were all bankrupt. They managed to borrow money(that none of them had) from each other and give it to Greece to save the country?
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Deleted
Joined: Mar 28, 2024 17:54:15 GMT -5
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Post by Deleted on Feb 23, 2011 14:42:08 GMT -5
Yeah, and if I read the above article right-- the rioters do not want the gov't to pay those loans back-- because they are uncomfortable.....
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Post by Savoir Faire-Demogague in NJ on Feb 23, 2011 14:46:48 GMT -5
Just scanned the article.... what a disaster. Actually some of it is quite comical. I recommend anyone reading this thread to click on the link. Greece is a country that is out of control and nearing mob rule. Sadly for the US, we are nearing this tipping point.
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ChiTownVenture
Familiar Member
Joined: Dec 22, 2010 10:39:06 GMT -5
Posts: 648
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Post by ChiTownVenture on Feb 23, 2011 16:38:39 GMT -5
The country is in upheaval.
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workpublic
Junior Associate
Catch and release please
Joined: Dec 30, 2010 14:01:48 GMT -5
Posts: 5,551
Favorite Drink: Heineken
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Post by workpublic on Feb 23, 2011 17:02:49 GMT -5
They were about to go under and were bailed out by the other European countries who themselves were all bankrupt. They managed to borrow money(that none of them had) from each other and give it to Greece to save the country? "greek style" economics?
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Post by Savoir Faire-Demogague in NJ on Feb 23, 2011 17:07:23 GMT -5
"greek style" economics?I'm not touching that one....
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Post by BeenThere...DoneThat... on Feb 24, 2011 11:09:06 GMT -5
<<< When it is applied to others it is austerity. Applied to oneself it is hell. >>>
...feel the burn! and 4 more... 3 more... 2 more... and now, to the left, and...
;D
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floridayankee
Junior Associate
If You Don't Stand Behind Our Troops, Feel Free to Stand in Front of Them.
Joined: Dec 20, 2010 14:56:05 GMT -5
Posts: 7,461
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Post by floridayankee on Feb 24, 2011 11:23:56 GMT -5
They were about to go under and were bailed out by the other European countries who themselves were all bankrupt. They managed to borrow money(that none of them had) from each other and give it to Greece to save the country? "greek style" economics? JOHN CLARKE: Just a minute. What was the answer to the previous que- The question was: How can broke economies lend money to other broke economies who haven't got any money because they can't pay back the money the broke economy lent to the other broke economy and shouldn't have lent it to them in the first place because the broke economy can't pay back? BRYAN DAWE: You are wasting valuable time Roger. How much money does Spain owe to Italy? JOHN CLARKE: $41 billion. But where are they going to get it? BRYAN DAWE: Correct. What does Italy owe to Spain? JOHN CLARKE: $27 billion but they haven't got it - they're broke. BRYAN DAWE: Correct. How can they pay each other if neither of them has any money? JOHN CLARKE: They're going to get a bailout, aren't they? BRYAN DAWE: Correct. And where is the money coming from for the bailout? JOHN CLARKE: That is what I'm asking you!
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safeharbor37
Well-Known Member
Joined: Dec 20, 2010 23:18:19 GMT -5
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Post by safeharbor37 on Feb 24, 2011 13:32:44 GMT -5
What always gets left out of these discussions is the issue of the production of things ~ products, things that you can eat, wear, live in, drive, etc. If you leave out the issue of production, all these liberal theories work like a charm and idiots like Paul Krugman win Nobel Prizes in Economics. Need some money? Wait just a minute and I'll print some. Plenty more where that came from. You can pay your debts to creditor A by borrowing from creditor B or even "renewing" the loan from creditor A. It's simple and fool proof. Issues arise when you aren't dealing with fools. Bottom line is that people need and want certain things, but most insist on meeting their needs before they demand their wants. [This isn't universally true, but that's another issue] If we want what others have or can provide we must be able to offer them something they want and which they value equally with what we are bargaining for. Sometimes that may be general services as in the case of tourism, but if one can provide a unique and critical service, or unique and critical substances or products, then one is in the "cat bird seat" and can, to some degree, set ones own prices ~ as in the case of OPEC, and the US in terms of certain technical services. Wealth is the possession of something or the ability to provide something that someone else values. Ones value in the market place has nothing to do with his/her needs, but only with his/her ability to provide what someone else wants and is willing to pay for. Socialist governments and powerful unions attempt to set prices based on what they want to receive rather than on what others want and are willing to pay for. It boils down to coercion, loss of freedom for all the animals who aren't "more equal than others."
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