The economy is moving.....

Damocles said:
What do you think Greece will do? Aren't they talking about dumping the Euro?
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What people need to understand is that there is a massive amount of anti-German sentiment in Greece from the war time occupation. They are still incensed by the fact that Nazi Germany raided the national treasury of gold and have never given it back. Conservative estimates say that it would be worth over £60 billion today and that's without taking into account interest accrued.

It's doubtful whether there will be a referendum next month as the present government may not even survive past the vote of confidence on Friday. If there were to be an election, the opposition have already said they will not accept the deal, so who knows? What seems to be the general consensus is that the Greeks want to be in the Euro but don't want the deal. They have had the advantage of extremely low interest rates for many years and have just gone on a drunken binge, now the good times are over. As I've said before, they should never have been let into the Euro in the first place and you can blame Goldman Sachs for cooking the books. I don't think Greece being ejected out of the Euro is such a bad thing, however it is the prospect of Italy, Spain and Portugal going down the pan which is truly scary. If that happens you will need Jesus Christ as your next president
 
Aoxomoxoa said:
What people need to understand is that there is a massive amount of anti-German sentiment in Greece from the war time occupation. They are still incensed by the fact that Nazi Germany raided the national treasury of gold and have never given it back. Conservative estimates say that it would be worth over £60 billion today and that's without taking into account interest accrued.

It's doubtful whether there will be a referendum next month as the present government may not even survive past the vote of confidence on Friday. If there were to be an election, the opposition have already said they will not accept the deal, so who knows? What seems to be the general consensus is that the Greeks want to be in the Euro but don't want the deal. They have had the advantage of extremely low interest rates for many years and have just gone on a drunken binge, now the good times are over. As I've said before, they should never have been let into the Euro in the first place and you can blame Goldman Sachs for cooking the books. I don't think Greece being ejected out of the Euro is such a bad thing, however it is the prospect of Italy, Spain and Portugal going down the pan which is truly scary. If that happens you will need Jesus Christ as your next president
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The Greeks can call it even with the Germans then. Germany has provided in excess of that amount to bailing Greece out. Add in the 50% haircut their banks just took on Greek debt and if anything Greece now owes Germany.
 
Superfreak said:
The Greeks can call it even with the Germans then. Germany has provided in excess of that amount to bailing Greece out. Add in the 50% haircut their banks just took on Greek debt and if anything Greece now owes Germany.
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Greece has never really industrialised like much of the rest of Europe, they still rely to a great extent on tourism and agriculture. As regards tourism, they have been losing out to Turkey especially for Brits as it is a hell of a lot cheaper.
 
Aoxomoxoa said:
Greece has never really industrialised like much of the rest of Europe, they still rely to a great extent on tourism and agriculture. As regards tourism, they have been losing out to Turkey especially for Brits as it is a hell of a lot cheaper.
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They, in general, are a bunch of lazy fucks. They want to retire at 50, have August off, plus other vacation time, plus have all health care needs taken care of for life, and they don't want to pay any taxes. They showcase what ever expanding entitlements will do to a country. They are perfect examples of what every nation who promises the world to their citizens will face.
 
Superfreak said:
They, in general, are a bunch of lazy fucks. They want to retire at 50, have August off, plus other vacation time, plus have all health care needs taken care of for life, and they don't want to pay any taxes. They showcase what ever expanding entitlements will do to a country. They are perfect examples of what every nation who promises the world to their citizens will face.
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Who would not want that?
 
Superfreak said:
They, in general, are a bunch of lazy fucks. They want to retire at 50, have August off, plus other vacation time, plus have all health care needs taken care of for life, and they don't want to pay any taxes. They showcase what ever expanding entitlements will do to a country. They are perfect examples of what every nation who promises the world to their citizens will face.
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Which is basically what the Germans think of them as well, I think the Greeks have got the message about how others view them. I have always believed that the Euro was a flawed project and thank God our esteemed former leader Tony B. Liar couldn't get his way and force us into it.
 
The Dude said:
Bravo I work with mostly millionaires, non of them cry about people on food stamps. You clown
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If you could read, you'd see I didn't mention the economy in my OP.....I mentioned the debt....
and I ridiculed your fellow pinhead Onecell when HE started to bring the stock market into the picture....

when we all know the stock market has nothing to do with people on food stamps....and of course YOU....YOU thanked him for that post.....

Then Onecell talks about the market again and hiring.....nothing about food stamps...and YOU...YOYU thand him again like a little puppy...

Either give that MBA to charity or learn to fuckin' at least spell....there is no such word as "BIGGOT"....


And no one is crying about people on food stamps either....I just point out that we now have 45.8 million suffering people because of Obama and the Democrats in Washington.....thats the sad reality of liberal politics.....
You can't even follow the thread and who says what in each post....
 
Aoxomoxoa said:
What people need to understand is that there is a massive amount of anti-German sentiment in Greece from the war time occupation. They are still incensed by the fact that Nazi Germany raided the national treasury of gold and have never given it back. Conservative estimates say that it would be worth over £60 billion today and that's without taking into account interest accrued.

It's doubtful whether there will be a referendum next month as the present government may not even survive past the vote of confidence on Friday. If there were to be an election, the opposition have already said they will not accept the deal, so who knows? What seems to be the general consensus is that the Greeks want to be in the Euro but don't want the deal. They have had the advantage of extremely low interest rates for many years and have just gone on a drunken binge, now the good times are over. As I've said before, they should never have been let into the Euro in the first place and you can blame Goldman Sachs for cooking the books. I don't think Greece being ejected out of the Euro is such a bad thing, however it is the prospect of Italy, Spain and Portugal going down the pan which is truly scary. If that happens you will need Jesus Christ as your next president
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My God, my powers of prediction are just awesome. The Greek PM has decided to call off the referendum.

http://uk.news.yahoo.com/greek-prime-minister-faces-calls-resign-125401711.html
 
Jarod said:
Who would not want that?
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It is one thing to earn a retirement at 50. It is quite another to promise everyone they get to do so. It is not economically feasible to do so. So what ends up happening is the government borrows too much money, promises benefits it can't deliver and eventually the system comes crashing down and makes everyone's lives miserable. As we are seeing in Greece.

We can stamp our feet and demand such things (like many on the left do here) but sooner or later you have to PAY for all that 'FREE' stuff.
 
Aoxomoxoa said:
Which is basically what the Germans think of them as well, I think the Greeks have got the message about how others view them. I have always believed that the Euro was a flawed project and thank God our esteemed former leader Tony B. Liar couldn't get his way and force us into it.
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Yes, I think those in England, Norway and Denmark are quite happy right now that they did not end up in this mess (or at least in as deep as the Germans and French are).

I would not be shocked to find Germans thinking that way given that they took the pain themselves and built their country up on more fiscally conservative principles. Only to see the EU nightmare come to fruition and bite them in the ass. Nothing pisses off a fiscally responsible person/country more than having to pay for the irresponsible ones. Granted, some were taken down in a snowball effect, but many were simply irresponsible.
 
Superfreak said:
Yes, I think those in England, Norway and Denmark are quite happy right now that they did not end up in this mess (or at least in as deep as the Germans and French are).

I would not be shocked to find Germans thinking that way given that they took the pain themselves and built their country up on more fiscally conservative principles. Only to see the EU nightmare come to fruition and bite them in the ass. Nothing pisses off a fiscally responsible person/country more than having to pay for the irresponsible ones. Granted, some were taken down in a snowball effect, but many were simply irresponsible.
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Norway is not a member of the EU, but is a member of the EEA. Denmark is in the EU but is not in the Eurozone.

http://en.wikipedia.org/wiki/Norway_–_European_Union_relations
 
The Dude said:
Greece is the size of delaware, Germany farts are worth more. The Germans will buy them at fire sale prices.
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It is actually about 20 times the size of Delaware and a tad smaller than California. I don't think many appreciate what is really going on, Greece by itself is containable but if the contagion spreads to the other PIGS then it has the potential to bring the entire banking system down.
 
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