Dumbass Greeks

[Dim Bulb]

WTF good that referendum did, I have no idea. They asked the Greek people if they wanted less debt to the EU and the Greeks voted for less debt. Next week will they ask whether the Greek people like wine with dinner or warm cat piss.

...although if it was goat piss they might have a chance.

[IronEagle]

WTF good that referendum did, I have no idea. They asked the Greek people if they wanted less debt to the EU and the Greeks voted for less debt. Next week will they ask whether the Greek people like wine with dinner or warm cat piss.

...although if it was goat piss they might have a chance.

IMO, Germany and their poliitical leadership are a bunch of assholes. I thiink it is better for Greece to break off now rather than to submit to the Gernans forever. I think it was a mistake for Greece to get involved with them in the first place. I kind of hope the Spaniards leave next.

[Birdwatcher]

And given their history...

IMO, Germany and their poliitical leadership are a bunch of assholes. I thiink it is better for Greece to break off now rather than to submit to the Gernans forever. I think it was a mistake for Greece to get involved with them in the first place. I kind of hope the Spaniards leave next.

In 1953 Germany was in worse shape than Greece, and needed most of their debt erased, some of it they owed to Greece. The Greeks should have never should have entered the Euro, all their debt problems started there. Prior to joining they had debt, like all countries, but it was manageable and not wholly out of whack with their GDP. The Euro brought inflation and then they hosted the first post 9/11 Olympics, and the need for extra security cost them. Since then it has been all downhill, and the latest deal was heading for a dead end in six months tops. Most of the bailout money they have received goes back to creditor interest payments, so the banks pocket the profit on the taxpayer's loans. At least the Greeks said, we aren't taking more cuts, just to have to renegotiate it in less than a year. They were offering concessions, but needed something to make it sustainable and long term. The big risk for Europe is that Greece exits the euro and in a few years they revive their economy, kind of like Iceland did when it crapped out.

[KenfromCanada]

In 1953 Germany was in worse shape than Greece, and needed most of their debt erased, some of it they owed to Greece. The Greeks should have never should have entered the Euro, all their debt problems started there. Prior to joining they had debt, like all countries, but it was manageable and not wholly out of whack with their GDP. The Euro brought inflation and then they hosted the first post 9/11 Olympics, and the need for extra security cost them. Since then it has been all downhill, and the latest deal was heading for a dead end in six months tops. Most of the bailout money they have received goes back to creditor interest payments, so the banks pocket the profit on the taxpayer's loans. At least the Greeks said, we aren't taking more cuts, just to have to renegotiate it in less than a year. They were offering concessions, but needed something to make it sustainable and long term. The big risk for Europe is that Greece exits the euro and in a few years they revive their economy, kind of like Iceland did when it crapped out.

Back to the Drakhma (sp??) and it will be a cheap currency which will encourage tourism. That part of the economy will boom, not sure about the rest of it though as you need the US $$ and the Euro for trade.

[Eagle Road]

They can't have it both ways, I do understand what BW is saying, but on one hand you have them telling the Gov. they support a no referendum, so in essence they are saying no to the Euro and it's terms.


Then they turn right around and a recent poll suggests that 70% want to keep the Euro?


The bigger issue is, when most of the country is unemployed and out of those that are working a FULL 90% are NOT paying their taxes, how do you expect any Gov. to stay liquid?

[Dim Bulb]

Greeks are idiots

They can't have it both ways, I do understand what BW is saying, but on one hand you have them telling the Gov. they support a no referendum, so in essence they are saying no to the Euro and it's terms.


Then they turn right around and a recent poll suggests that 70% want to keep the Euro?


The bigger issue is, when most of the country is unemployed and out of those that are working a FULL 90% are NOT paying their taxes, how do you expect any Gov. to stay liquid?

They vote "no" and are actually happy to see markets crash in other countries. But I have to take exception to your statement that "when most of the country is unemployed..." The unemployment rate is high, but nowhere near the 50% you suggest. That would be Armageddon type levels.

http://countryeconomy.com/unemployment/greece

[Eagle Road]

They vote "no" and are actually happy to see markets crash in other countries. But I have to take exception to your statement that "when most of the country is unemployed..." The unemployment rate is high, but nowhere near the 50% you suggest. That would be Armageddon type levels.

http://countryeconomy.com/unemployment/greece

Although I can see, and agree "actual" unemployment may not be as bad as I made it sound, how does your chart account for Black market type jobs, labor?


IOW, there are so many people over there that may have a job, but as I understand it, there is an awful lot of under the table type jobs and employment which skews the numbers because NONE of those people pay taxes on that money.


So while a good percentage claim they have a job, is any of that money being taxed, after all, they do consider Tax Evasion a national sport over there, pretty hard to run anything with no cash flow?


Also, I consider almost 30% unemployment more than just high, I don't know (maybe you do??) what does their population age chart look like, are there a substantial number of Senior citizens? If you have 30% unemployed, and a large number of retired, your total number of "Government supported or supplemented is a real kick in the nuts.


I say this because I believe their retirement age is 55!

[Dim Bulb]

Although I can see, and agree "actual" unemployment may not be as bad as I made it sound, how does your chart account for Black market type jobs, labor?


IOW, there are so many people over there that may have a job, but as I understand it, there is an awful lot of under the table type jobs and employment which skews the numbers because NONE of those people pay taxes on that money.


So while a good percentage claim they have a job, is any of that money being taxed, after all, they do consider Tax Evasion a national sport over there, pretty hard to run anything with no cash flow?


Also, I consider almost 30% unemployment more than just high, I don't know (maybe you do??) what does their population age chart look like, are there a substantial number of Senior citizens? If you have 30% unemployed, and a large number of retired, your total number of "Government supported or supplemented is a real kick in the nuts.


I say this because I believe their retirement age is 55!

It's way more complicated.

[Eagle Road]

It's way more complicated.

They have a total population of 11 million, out of that only 7 million are working age, out of that 28% unemployment, so only 5 million working, out of that 5 million working, most are not paying taxes.


Not that complicated.

[Brock]

The problem with socialism is you eventually run out of other people's money.

[Dim Bulb]

Why they are unemployed

They have a total population of 11 million, out of that only 7 million are working age, out of that 28% unemployment, so only 5 million working, out of that 5 million working, most are not paying taxes.


Not that complicated.

And the tax evasion angle is way more complicated. It's not just people being paid under the table.

[Dim Bulb]

Hey Brock

The problem with socialism is you eventually run out of other people's money.

Define "socialism."

[Brock]

Define "socialism."

Marxism.

[IronEagle]

Here's a good article about what is going on in Europe right now.

Not sure if the posted link will work if you are not a WSJ subscriber.

You might have to go to news.google.com and search "Germany's power polarizes Europe"

http://www.wsj.com/articles/germanys...ope-1436231408

[Dim Bulb]

Thanks for playing

Marxism.

"Sheep-fuckers" might have been better for you to slur an entire country. Shorter words plus you can probably define that one.