The Bailout was so nice you get to pay for it twice, for Europe now

[JS80]

the problem is when bank fail, it's not the bankers who lost their money (they already got their big fat bonus), it's those who deposit their money in banks.

Deservedly so. People should pay attention to where they are keeping their money.

 

[JS80]

You seem to forget that European bank balances are completely f*cked up by the US toxic crap they bought and the bankruptcy of Lehmann Brothers. Greece is definitely a European problem but the whole financial mess started in the USA

Yup, unsustainable government budgets and nosebleed tax policies of European countries...it's Bush's fault.

 

[momeNt]

Ummm....that's what they did in the 80's. They basically devalued the crap out of the currency (the Drachma) until exports exceeded imports and GDP rose high enough to temporarily cover future short falls. However instead of learning their lesson they then decided it was better to continue the same failed socialist policies of spending themselves into silly massive soul crushing debt once they got their foot in the EU door and probably hoping that others would bail them out once the shit hit the fan again.

Hmm, you saying its too soon to do that again?

Darn

 

[Nebor]

When the USA couldn't pay in gold, they went to controlling their own currency.

Seeing as the Euro is much closer to a substitute for gold than a true government controlled fiat currency, all Greece has to do is begin issuing its own currency to settle debts, problem solved.

False. The US had the largest gold reserve in the world at the time it went off the gold standard. The problem (as it was perceived at the time) was that the huge amount of gold backing the dollar made it too strong, so Roosevelt set about purposely devaluing it so we could compete with everyone else that had already left the gold standard. The only ones left on it were the French, and they were pissed at the rest of us.

 

[chowderhead]

http://bottomline.msnbc.msn.com/_ne...taxpayers-could-be-on-hook-for-europe-bailout
Banksters that were too big to fail,
Perpetual war in Iraq costing billions approaching trillions,
Unemployment high and replacement jobs being lesser quality than former jobs,
Infrastructure failing all around,
And now a possible bailout of Europe,

What can be said except,

Don't worry be happy

http://www.youtube.com/watch?v=d-diB65scQU:biggrin:

I *thought* taxpayers "made" a profit on the bailouts? Why hasn't anyone from the banks or the ratings companies who gave triple AAA ratings to these garbage derivatives gone to prison? Why haven't their ill-gotten assets been forfeited and their corrupt asses sent to jail?

 

[DucatiMonster696]

I guess austerity is not working out as rightwingers expected in Europe?

You are a complete idiot.

It was Germany (along with a few other European nations) taking measures to curb its debt that lead it to weather through the mortgage and banking debacle relatively unscathed. However since they are part of the EU they now are compelled to save the dead beat PIIGS nations which are causing the massive concerns in regards to the EU falling into a debt blackhole crisis.

This pretty much sums up the entire debacle of EU spiraling debt created by people/nations who think austerity is a obscene word.

http://www.youtube.com/watch?v=LyePCRkq620

 

[sarsipias1234]

The Greek people are taking advantage in any way they can just like the banks and government.

The essence of capitalism is to take advantage of the system for your own personal gain.

"The economic anarchy of capitalist society as it exists today is, in my opinion, the real source of the evil. We see before us a huge community of producers the members of which are unceasingly striving to deprive each other of the fruits of their collective labor - not by force, but on the whole in faithful compliance with legally established rules. I am convinced there is only one way to eliminate these grave evils, namely through the establishment of a socialist economy, accompanied by an educational system which would be oriented toward social goals."

- Albert Einstein, The World As I See It (1949)

 

[sarsipias1234]

"When you see that in order to produce, you need to obtain permission from men who produce nothing and when you see that money is flowing to those who deal, not in goods, but in favors and when you see that these men get richer by graft and by their pull - not by their work. When your laws don't protect you against them, but protect them against you and when you see corruption being rewarded and honesty becoming a self-sacrifice...You may now know that your society is doomed." - Ayn Rand

 

[Macamus Prime]

Are you implying you are black, and that blacks can't be racist?

If the pot is going to call the kettle black, then the pot needs to properly address the kettle.

 

[freegeeks]

Yup, unsustainable government budgets and nosebleed tax policies of European countries...it's Bush's fault.

Nice try to sail around my argument. What makes the whole Greece debacle so dangerous is the fact that European bank balance sheets are very weak because of the whole prime mortgage crap. Believe me, if a bank like BNP or Soc Gen will collapse, it will be Lehman Brothers x 2

 

[momeNt]

False. The US had the largest gold reserve in the world at the time it went off the gold standard. The problem (as it was perceived at the time) was that the huge amount of gold backing the dollar made it too strong, so Roosevelt set about purposely devaluing it so we could compete with everyone else that had already left the gold standard. The only ones left on it were the French, and they were pissed at the rest of us.

Believe you are talking about Roosevelt raising the required USD to convert to gold. I was talking about Nixon in 1971.

So False yourself not me broski.