April 19, 2015 at 10:09 pm #40332
Greece may still default on it’s debt. If Greece defaults it can send the world in to a global economical collapse.April 20, 2015 at 12:38 am #40333
Greece needs to re-invent itself but the people and the govt. want to hold onto the old ways. At the same time they have been borrowing money for years so as to be able to make payments on their loans. It is only in the world of international banking smoke and mirrors that Greece hasn’t gone bankrupt years ago. They are carrying more debt than they can afford. The Europeans know this. Everyone knows this. The Greek people will suffer when it happens. Many beyond the borders of Greece will also suffer the ripple that flows out of such a default. The executive suite of the big international banks won’t suffer at all.April 21, 2015 at 3:43 am #40359
The United States is now carrying more debt than it can afford .April 21, 2015 at 6:47 am #40361
If you can still get yer friendly central bankster to front you the next hit of financial smack (crack?) you can still tell all yer homies in the worldwide ‘hood that you can still afford it. Ain’t that how it plays? And he ain’t said, “No”, yet.
Watch out when all yer collateral is gone. He’ll send Guido over to ‘splain things.
Cry, "Treason!"April 21, 2015 at 6:19 pm #40367
Even though it would be extremely painful, isn’t it time for the Greeks to hit the reset button. Their economy is already in shambles, so why not swallow the bitter pill, and hopefully make life better for the next generation.
I fear out kids and grandkids will face a similar fate if we don’t do something here in the US.April 21, 2015 at 11:09 pm #40368
What would “hitting the reset button” mean for Greece or for the USA? Repudiation of debt, right? But when a nation reneges on its debt, to those who bought it in good faith, it becomes a thief.
Any nation could, in good conscience, repudiate the “debt” it incurs by borrowing BS “money” from its Central Bank. Such “money” consists of mere bookkeeping entries because the “Central Bank” is merely some group of banksters favored by some previous regime with the privilege (private law) of issuing the nation’s currency by loaning it, at interest, to the government. As the only issuers of the only medium which is allowed to be used to pay government debt, such loans are as inherently unrepayable, as they are inherently bogus. What such government “borrowed,” (at interest) in effect, was its own foolishly-given permission to be ripped off, in other words, zilch.
Such a government could recover its sanity and say, “What you lent us was nothing, so you are paid.” Telling the Central Bank to pound sand would still leave the repayment of honest purchasers of debt, and such a process would take years, if not generations. But since the banksters, crooks, but not fools, make sure that a small portion of the profits from the scam find their ways into the pockets of the regime, no government is ever likely to regain its good sense, from within. Its Citizens must regain their good sense, and tell their “leaders” what to do. When do you think that’ll happen?
Cry, "Treason!"April 22, 2015 at 12:15 am #40369
Greeks to hit the reset button but that will not help them in the long run if they do not change there socialist ways that do not work. Living of the government will not improve there economy. Many there do not like to work which is starting to happen here. Socialism is the reason the European countries are starting to collapse. Next is Spain, Italy and Ireland. The collapse will take the U. S. and the rest of the world.April 22, 2015 at 1:51 am #40371
Two things led to the debt mess in Greece. First: Every time there was an uproar by the citizens about the Greek economy the government would create more jobs. Second: I think Greece is the home of the term “Tax Cheats.” Until both items are corrected I expect just more of the same.
RobinApril 22, 2015 at 2:09 am #40373
Greece needs to re-invent themselves culturally and economically. The problem is the general public wants everything to go back to the way it was which is what got them into trouble in the first place. If they default, it’ll be a long time before foreign governments and banks will loan them money again. Just printing money themselves will create high inflation. There is no avoiding pain at this point.April 22, 2015 at 4:32 am #40375
Greece’s socialist profligacy is the cause of Greece’s financial problems, but unless Greece has some kind of clandestine control over the rest of Europe, the Western Hemisphere, Russia, Australia, and Asia, their default will only be the trigger to global collapse. No matter … something is going to trigger it anyway. The whole world (with the exception of the “Axis of Evil,” whoever they are, these days) has bought into the Global Ponzi Scheme, aka, Central Banking, wherein they all “borrow — at interest — BS “money”, ginned up out of nothing, which debts are unpayable, except through further “borrowing.” Forcing them all into a single global subservience to a unified rip-off would not solve the problem of poverty, contracted for in advance. Nor would it prevent wars, which are the tools by which the banksters “distribute” a fraction of the loot to their dictator minions and their suppliers.
Within such a House of Cards, the best a frugal and productive nation can manage to do, is to push its “debt,” disproportionately onto other nations. Sure, “smelling like a rose”, in such a zero sum game, is better than the alternative, but it requires beggaring the neighbors, to set up the next war.
Lending real money at interest has been called, “usury.” The lending of real money, actual value, at interest, is a way to make economies grow. Without it, technological and economic progress would be incredibly slow. But the “lending” — at interest — of “money,” made from BS and privilege, is surely usury. It’s “unequal weights and unequal measures” writ large, as the false economic basis of a nation, both said to be “an abomination to the LORD.” That ought to offend the non-believer as well as the believer, as it must eventually bring down any nation that attempts to live by it.
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