Thread: What to do about the Economy of Greece?

What to do about Greece? Should they be allowed to default?

Originally Posted by tom

What to do about Greece? Should they be allowed to default?

I'm perfectly OK with the other Euorpean countries giving money to Greece so they can pay their obligations to the rest of the world. The taxpayers in the other European countries may feel differently about it.

I think we all have to help each other out, or we all go under, although it does seem like using one credit card to pay off another.
Those who profit from it are the cause of the problem - and the solution to it, is for them to be confident that they can make a profit in the future. Paradoxical.

Originally Posted by TaoZero5

I think we all have to help each other out, or we all go under, although it does seem like using one credit card to pay off another.
Those who profit from it are the cause of the problem - and the solution to it, is for them to be confident that they can make a profit in the future. Paradoxical.

Oh, I'm sure Soros thinks he'll always be able to make a profit off of the damage he causes.

Soros doesn't always make a profit, he's been wrong big time on some occasions. But, I look forward to hearing how Soros forced the European governments to run persistent budget deficits against their will, and also forced the Greek government to cook the books to cover things up. Was it the same way he forced Americans to spend 102% of their income against their wills?

Originally Posted by Coelacanth

Soros doesn't always make a profit, he's been wrong big time on some occasions.

He's been right more times than he's been wrong. You don't make his kind of money by being habitually wrong. Ask the Bank of England, for example.

Originally Posted by Coelacanth

But, I look forward to hearing how Soros forced the European governments to run persistent budget deficits against their will, and also forced the Greek government to cook the books to cover things up. Was it the same way he forced Americans to spend 102% of their income against their wills?

So do I. It is not necessary to force someone against his/her will to do something if you can influence them instead. As for the Greek fiasco, their books were known to be 'cooked' by some but they were still admitted to the EU. As for that, the EU has no one to blame but themselves. The same applies to Canada, America and other places. If you can get your people in the right places then you can influence instead of force. As for individual people and their spending habits, 'easy' money is neither free nor easy regardless of what the 'experts' have to say. I would venture a guess that I may be considerably older than you, Coelacanth, and remember how it was 'back in the day'. As a result, I have never spent 102% if my income, especially against my will. Oh, for the work ethics of days gone bye!

I remember, 30 years ago, people being "encouraged" by the banks' financial advisors, to be enthusisatically creative with their estimates of earnings when applying for mortgages; "encouraged" by others who had successfully done the same and seeing the people around them becoming "home owners".
Meanwhile, the banks themselves were doing the same thing, and so were governments.

If you believe it will be so - if everyone believes it will be so - that's confidence in the economy. I think that's what they replaced the gold standard with.

I was never a believer - not since I tried to figure out where profit came from.

Originally Posted by TaoZero5

I was never a believer - not since I tried to figure out where profit came from.

Did you?

Originally Posted by tom

What to do about Greece? Should they be allowed to default?

Might I enquire how you explain that word 'allowed'.. Its not like they have a choice.. broke is broke..

Any expenditur above income is going to take your choices away... It does, has and will.

How do you fix this.. and I have no idea.. Do not sit well., but are the truth.