Germany Shouldn't Be Telling Greece To Repay Debt

[cubby1223]

From: http://www.huffingtonpost.com/2015/07/06/piketty-germany-greek-debt_n_7735866.html

Eh, just someone who wants the page clicks to pay his journalist salary. It's a good thing we have people like you willing to help their cause 😉

The people who loaned Greece did so under the agreement that they would be paid back, those who took the money did so under the agreement they would pay the money back.

Are the people today who loaned Greece money the same people who didn't pay back WW1 debt? No, they are different people. And they have the right to try to be paid back.

 

[Phynaz]

Wtf was wrong with the other thread on Greece? Is your post too important for that thread?

 

[Zorkorist]

Rich Greeks lie about taxes like rich people everywhere? Shocking!

What about the 11 million Greeks who don't have pools?

The ones that have ponds?

I have both a pool and a pond.

The pond looks right for you.

-John {Chevy Chase, Caddyshack}

 

[Jhhnn]

I never said I didn't support debt forgiveness/restructuring. In fact, it's going to have to happen. However, the politicians are afraid of the consequences.

Greek debt will eventually be written off in large part.

Meanwhile, the beatings will increase until morale improves.

 

[LegendKiller]

Rich Greeks lie about taxes like rich people everywhere? Shocking!

What about the 11 million Greeks who don't have pools?

If you do your research you'll find that it isn't limited to rich greeks. Like many other peripheral european countries, dodging taxes is a way of life for all strata of the economy. The Italians are masters of it.

 

[Jhhnn]

If you do your research you'll find that it isn't limited to rich greeks. Like many other peripheral european countries, dodging taxes is a way of life for all strata of the economy. The Italians are masters of it.

Which was obviously unknown when Bankers knowingly lent the Greek govt more than they could ever realistically repay, right?

And why not? They're too big to fail in Europe just like in this country, so it'll be bailouts for the banks & beatings for the patsies, the Greeks.

 

[Zorkorist]

In America, we have the same problem, a Government that spends beyond its means.

A pretty simple solution to the problem of Greece, America, and all countries in between is to pass a balanced budget amendment.

This should be done proactively versus reactively.

-John

 

[theeedude]

Would better tax collection from the already squeezed middle class actually help Greece economically at this point or hurt it even more?

 

[brianmanahan]

I couldn't retire on 1M and my lifestyle is pretty simple.

i think i could do it, barely, living off of 30$k per year with a 1$m net worth

that's living without much fun beyond ATOT and P&N though...

but then again, what other fun does a man need besides ATOT and P&N?

 

[alcoholbob]

Would better tax collection from the already squeezed middle class actually help Greece economically at this point or hurt it even more?

Most of the money the Greek Goverment is whining about not getting a piece of is sitting outside the country. Raising taxes on the Greek working class to make up for that deficit isn't wise. Sort of like increasing gun control in a city doesn't work if 99% of your gun crime is from illegal guns.

 

[Zorkorist]

Limit Government.
Limit Social Services.

And you will begin to see a vibrant economy, and the American Dream.

-John

 

[Zorkorist]

Would better tax collection from the already squeezed middle class actually help Greece economically at this point or hurt it even more?

Would decapitating the Government be beneficial?

-John

 

[ivwshane]

Eh, just someone who wants the page clicks to pay his journalist salary. It's a good thing we have people like you willing to help their cause 😉

The people who loaned Greece did so under the agreement that they would be paid back, those who took the money did so under the agreement they would pay the money back.

Are the people today who loaned Greece money the same people who didn't pay back WW1 debt? No, they are different people. And they have the right to try to be paid back.

Capitalism mother fucker! Deal with it!


People loaned Greece money with the expectation that they would be paid back with interest. Why should anyone pay interest? Well that's the pay off you get for taking a risk when you give out a loan.

People took a risk loaning Greece money and they got burned. Capitalism 101😉

Lol

 

[cubby1223]

Capitalism mother fucker! Deal with it!


People loaned Greece money with the expectation that they would be paid back with interest. Why should anyone pay interest? Well that's the pay off you get for taking a risk when you give out a loan.

People took a risk loaning Greece money and they got burned. Capitalism 101😉

Lol

Are you trying to make a point? Because if you are you should just make it.

Part of the author's argument is people today shouldn't be obligated to pay back a loan because different people a hundred years ago were not honorable. If you would like to defend that argument, go ahead and try. This should be good! 😉

And if you have no intentions of defending that argument, which I suspect is the case, please do us all a favor and stop being a colossal waste of time 😛

 

[ivwshane]

Nope, I made an entirely different point that has the same conclusion but you are such an idiot that you didn't get it.

Are you trying to make a point? Because if you are you should just make it.

Part of the author's argument is people today shouldn't be obligated to pay back a loan because different people a hundred years ago were not honorable. If you would like to defend that argument, go ahead and try. This should be good! 😉

And if you have no intentions of defending that argument, which I suspect is the case, please do us all a favor and stop being a colossal waste of time 😛

 

[glenn1]

Are you trying to make a point? Because if you are you should just make it.

Part of the author's argument is people today shouldn't be obligated to pay back a loan because different people a hundred years ago were not honorable. If you would like to defend that argument, go ahead and try. This should be good! 😉

And if you have no intentions of defending that argument, which I suspect is the case, please do us all a favor and stop being a colossal waste of time 😛

I'd be okay with following the OP suggestion if the U.S. is allowed to bomb their country to rubble like we did to the Germans before they stopped paying their debt. If they allow themselves to get nuked like Japan I'll even throw in a Keynesian stimulus as a bonus.

 

[MongGrel]

Hey, the US government bailed the banks out when shit went down the tubes and the banks profited from it raping the middle class in the long run.

I guess Greece isn't going to get the same deal.

The government there should be raping what remains for recovery I guess, then sell Greece to Disney for a theme park or a Large Cruise line for ports or something.

Would be Status Quo.

 

[fskimospy]

What agreement? You mean the one they made under duress after losing WW1 when France and Britain decided to just crush the country's economy, take their economic heartland, and leave them destitute in perpetual debt, the only way to get out of it was to print DMs and inflate the shit out of their defeated population which eventually lead to the raise of Nazism?

Ohh yeah, let's just repeat that shit post-ww2 since it worked so well after WW1.

Greece? I have no remorse for them at this point. For example, they used satellites to find almost 17,000 pools in Athens. Guess how many disclosed pools on their taxes to pay the pool tax? 324.

Yeah, 1.9% of people told the truth.

Did you read what I wrote? Getting into debt you can't repay is a serious failure in judgment. Know what else is? Electing to engage in a ruinous war you end up losing. Let's not pretend that one is okay.

 

[alcoholbob]

History buff in action flexing his muscles.

 

[ivwshane]

Did you read what I wrote? Getting into debt you can't repay is a serious failure in judgment. Know what else is? Electing to engage in a ruinous war you end up losing. Let's not pretend that one is okay.

I think giving out a loan which you know cannot be paid back is an equal failure in judgement.

Greece has been bullied by the IMF and the like and they just retaliated.

Their only choice now is to leave the euro, they've already suffered the worst of the consequences of doing so, just pull the rest of the band aid off already.

 

[BigDH01]

Did you read what I wrote? Getting into debt you can't repay is a serious failure in judgment. Know what else is? Electing to engage in a ruinous war you end up losing. Let's not pretend that one is okay.

The Germans could make a credible threat, turning to the Soviet Union.

Also, it was believed that Germany could be a true economic powerhouse to counter Soviet influence. Greece won't open its closed professions, curb public corruption, or collect taxes. In other words, people have no faith in Greece or their word. Why waste money?

 

[MongGrel]

I think giving out a loan which you know cannot be paid back is an equal failure in judgement.

Greece has been bullied by the IMF and the like and they just retaliated.

Their only choice now is to leave the euro, they've already suffered the worst of the consequences of doing so, just pull the rest of the band aid off already.

The US did the same thing related to mortgages on houses years ago.

When shit started going down the drain the big banks were bailed out.

 

[Victorian Gray]

The US did the same thing related to mortgages on houses years ago.

When shit started going down the drain the big banks were bailed out.

Privatize profit, socialize cost

 

[ivwshane]

The US did the same thing related to mortgages on houses years ago.

When shit started going down the drain the big banks were bailed out.

Yeah and guess who's laughing all the way to the...er...bank...

The difference is that Greece has nothing to lose, where as we did (or so we thought).

 

[MongGrel]

Yeah and guess who's laughing all the way to the...er...bank...

The difference is that Greece has nothing to lose, where as we did (or so we thought).

I really don't have to guess.