The Vent: Greece
Part of channel(s): Yoursay (promoted)Watch what happens to Greece. America is instituting similar expensive policies as Greece. America is paying for them by barrowing, like Greece. America will fail, like Greece if we don't change our spending.
Changing our Tax system is not enough. We have to change our spending.
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Items
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Detailing Greece's second bailout deal .
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Estimated U.S. taxpayer cost for bailout INCREASES
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CEO: Fannie/Freddie Bailout Makes America 'More Communist than China'
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Mathew Lynn (London): interview, new book- BUST: Greece, The Euro, and the Sovereign Debt Crisis
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Moral support but no money, EU says to Greece(EU falling apart)
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Stopping the Rot: Stress tests fail 8 Euro banks
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EU Preps $645 Billion Fund to Fight ‘Wolfpack,’ Debt Crisis
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America Headed Towards Marxism
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Bailout banks slip towards failure/Team obama cooked books/Greece-like future for US?
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Collapse of the euro is 'inevitable'
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Bailout marks Karl Marx's comeback
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$45 billion Bank of America bailout from taxpayers being put to good use, such as the $10 million Super Bowl carnival it threw
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Don't you realize that people have the inalienable right to big government benefits regardless of the consequences to their national, regional, or even global economy?
Posted Nov-2-2011 Byjohn1054 (5074.34) 
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@john1054 LOL
Unfortunately, that's what they think.
Posted Nov-2-2011 ByRichio (169.76) Richio View Channel Send Message
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@fido321 That was a great joke! A little double-entante, applied to the subject.
Very good.
Posted Nov-2-2011 ByFlashovr (1882.60) 
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@fido321 Herr Fuhrer Merkel did actually say there would or could be another war. What kind of war she was referring to wasn't clear though. She said something like, "nobody can expect another 50 years of peace and prosperity...if the Euro fails, Europe fails".
When a German mentions war (in any form) us Brits always stand to attention, eyes wide open and ears pricked.
Posted Nov-2-2011 ByCargeLock (1979.92) 
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@CargeLock The Chinese hear the word "war" and think "Hmmm sounds like we squeeze them for even more money".
The West is screwing itself one freebie at a time. We are also screwing ourselves one trinket at a time. China is owning the debts, and they are making the trinkets. The radicals in the middle east own the oil. We simply can't or won't cut ourselves off from this insanity.
Posted Nov-2-2011 ByKmanbay (689.36) Kmanbay View Channel Send Message
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Worry about Spain, very much so, they and Portugal will follow Greece and Italy, with Ireland to follow.
The scary thing is we are all in the pockets of the Chinese.
We have all been lead down a treachorous path by Govt spending, speaking as a Brit about Britain. I loathe that we are also held hostage by the EU.
Best route for Greece is dump the Euro and institue a new currency. They were in a stronger position before entering the Euro which they were not well placed to go with anyway. You mu More..
Posted Nov-2-2011 Bytruffs1010 (45.08) truffs1010 View Channel Send Message
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Good start.
Posted Nov-2-2011 ByJOEYPOPS (21.54) 
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I hate to break it to ya, but the US really isn't able to pay back the loans.
We're barely able to keep up with the interest, but we keep on spending. :<
cool microphone!
Posted Nov-2-2011 ByRichio (169.76) Richio View Channel Send Message
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@Richio
Don't tell China. I wonder if they block Liveleak.com? let's hope so.
Posted Nov-2-2011 ByFlashovr (1882.60) 
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@Flashovr
Let's keep it just between the two of us.
I don't think they could handle LL.
Although, I personally know of a high speed proxy used by some over there.
Posted Nov-2-2011 ByRichio (169.76) Richio View Channel Send Message
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With all due respect of course, most people know this but it doesn't matter because economies in general always favor the few wealthy who DO actually benefit from whatever situation the economy is in. It's the majority that ultimately suffer from any economic model, in 'the end' and . . . they've never mattered for the most part as far as I can tell. So all the thinking and going around in a circle about what to do is er, well, futile because it misses the reality of the situation - the people w More..
Posted Nov-2-2011 Bydarthmullet1 (520.50) 
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@darthmullet1
There is a lot of money to be made betting that companies and municipalities will default by buying credit derivitives.
I have turned a corner, sadly. I trade more with International Swaps and Derivatives Association than any other market.
As an American, I would much rather be betting that companies succeed than fail. But as an investor, I don't want to lose my investment.
Posted Nov-2-2011 ByFlashovr (1882.60) 
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@Flashovr - yes ; )
Posted Nov-2-2011 Bydarthmullet1 (520.50) 
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I think that was spot on.
The old paradigm of endless wealth, endless spending, and endless entitlement is no longer valid.
Our choices are to adopt a new paradigm proactively and voluntarily, or to wait for the collapse, at which time the new paradigm will be imposed upon us by crisis. Either way, it's coming.
Posted Nov-2-2011 Bymarinemom (5354.58) 
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You need to understand the Euro Zone is different from the European Union
Posted Nov-2-2011 Byallyssa (861.28) allyssa View Channel Send Message
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@allyssa
I am still trying to wrap my head around the EZ and EU thing.
Posted Nov-2-2011 ByFlashovr (1882.60) 
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@Flashovr
So are the European politicians
Posted Nov-2-2011 Bytruffs1010 (45.08) truffs1010 View Channel Send Message
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I think this video misleads somewhat on the grounds for referendum in Greece. From my poor knowledge of the Greek language the referendum was for acceptance of the bailout and the anti-prosperity measures or withdrawal from the EU and the Euro and return to the Drachma. Many think Papandreou went for the referendum in order to deflect the blame from him and his government, because if the Greeks accept referendum then it will be the Greek people who are ultimately responsible for any decisions. H More..
Posted Nov-2-2011 ByCargeLock (1979.92) 
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@CargeLock
Intresting take on the referendum. Your reasoning is sound. I guess we will know for sure when they vote.
Posted Nov-2-2011 ByFlashovr (1882.60) 
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@CargeLock
Typical politicians. But the referenda may not take place. It depends on whether the socialist party survives a vote of confidence later this week, I am not sure of the day.
It is tough to call how things will play out if they return to the drachma.
The guy in the video is right about one thing for sure. If Greece fails, Italy and Spain aren't far behind, and Greece's economy is peanuts compared to those two. Greece's GDP is about $ 305B Whereas Italy's GDP is about $2 T and Spai More..
Posted Nov-2-2011 ByKmanbay (689.36) Kmanbay View Channel Send Message
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Boo!
Posted Nov-2-2011 Byunschlagbar (164.70) 
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The alarming part is the people throwing fire bombs and rioting are not kids into fringe groups, but everyday people. It could get worse, the days in Greece of peaceful protest are over.
Every economic systems fails. Socialism and capitalism, the mix of the two. In America the political reward the wealthy with tax legislation, in Greece they bribe or create their own ways. Then you have the welfare leeches who are just as bad as the greedy already rich who always need a little more. And the More..
Posted Nov-2-2011 Byburns4130 (183.70) 
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Don't worry about it. When it all falls apart The UK will still have the Commonwealth as trading partners. That amounts to a third of the world population with the British Parliament at its head.
Hell, we'll even allow the US back into the Commonwealth, if they ask the Queen nicely.
Posted Nov-2-2011 Byallyssa (861.28) allyssa View Channel Send Message
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@allyssa
When pigs fly.
It's not like commonwealth nations are diplomatically against the United States, but joining the commonwealth again, I remember when this was a seriously poised question and figure you are "taking the piss".
Why don't you focus on leaving the EU? Also, do you really want to align yourself in American relations unconditionally. You know our government likes to shoot first and figure it out later. And don't most Britons look down on Americans and think of t More..
Posted Nov-2-2011 Byburns4130 (183.70) 
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Too late by about 15 years dipshit.
Posted Nov-2-2011 ByLickMyDuck (540.20) 
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