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Greece Is Imploding!
The yield on Greek government debt is blowing out this morning, yielding almost 27.5% on a 2-year Greek government note!
At the same time, the Athens Stock Market went into crash mode!
Something’s got to give, as this is becoming an untenable situation!
Any ideas on the Greek Meltdown, or even witnessing the Greek riots in real life @ Athens, tell us your thoughts below...
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The bankers want to be bailed out. The people are saying fuck you, we've been trickled down on long enough. HOw far is it form Athens to New York city?
Approximately 7,939km with these travel times:
aircraft: 9 hours (and the opportunity for 64,800 Fuck you utterances @2 per sec)
light in fiber 37.1 ms
light in vacuum 26.5 ms
(Courtesy of WolframAlpha)
Alas, no worries. Greece is already here...
Do not confuse free market "trickle down" economics from state controlled central bank "piss on" economics.
Here's a graph to clearly show the MYTH of Reagan's "trickle down" and who benefits from economic bubbles in the US:
http://i142.photobucket.com/albums/r100/EGoldstein1984/Whoreallybenefits...
"Mr. David Stockman has said that supply-side economics was merely a cover for the trickle-down approach to economic policy—what an older and less elegant generation called the horse-and-sparrow theory: If you feed the horse enough oats, some will pass through to the road for the sparrows." John Kenneth Galbraith
Yea, you're right: the "trickle up" graph would start at the top left and move down to the right. But it certainly would more equitably divide the losses!
Trickle down looks more like tsunami up!
Twice as far as to Iceland and 20 X as far as Madrid.
Socialism is an alliance of dreamers, inherited money, and the poor against the productive middle classes and small business.
there is nothing worse than someone who has o understanding of the real cause of this crisis, and worse is you are propagating misperceptions. While greece certainly has problems, we can clearly go back and look at almost every country gone bust, and see it is because of bad bank lending. ireland, spain, japan bubble, etc. they have gone broke to rescue the bad banks. to rescue the "financial elite". How many times do you have to see a problem before you can recongnize it.
savings and loan, etc, over and over again. it isn't socialism. we saw debt drisis in asia before and lat america. and we will see it here. the cause of this crisis is financial and bad bank speculation. period
Bailing out the banks was wrong, but the debt, whether repudiated or repaid was what sustained socialism.
Freebies to the sheeple, but no increased taxes to pay for it.
The people voting for whichever politician promised the most money are just as guilty as the banks.
Ireland and iceland are not good examples. The majority of their debt was private. I am merely discussing greece and soon to be spain and portugal.
Most of the Iberian debt was private.
Goverment debt withen the eurozone has been static over the years and has fallen dramatically against GDP.
Anyhow GDP metrics can be misleading - the true measure is the ratio of private debt relative to public debt and that has exploded under EMU control.
__which does not exist anymore.
Yep with the ultra-wealthy able to plunder government coffers and make governments bigger and make governments have the average guy pay exhorbitant prices for everything through monopolies that they own.
Yep. Let it implode and let them riot. No able bodied adult should be given a free living, so it's time these overgrown children grow up and produce something. As they say in the US westerns, no work no eat.
The same thing needs to happen all over the world. End all welfare for able bodied adults, and businesses of all kinds.
But are there any socialist countries in the world outside Cuba? The most popular model seems to be crony capitalism, where there is an incestuous relationship between the politicians and and a select financial elite.
True...but this incestuous relationship depends on the poor to vote into office politicians financed by a select financial elite.
Of course the goodies promised to the poor are always taken from the middle classes and small business, not the financial elite. I suspect the poor are most easily swayed by government bribery and too ignorant to know what is really going on.
Yeehaw! You're on a roll today.
Ignorance is simply not knowing.
Willful ignorance is a different matter.
We have a huge crop of willfully ignorant population.
There is a difference between willful ignorance and indoctrinated ignorance. Willful suggests free will. Successful indoctrination is cause and effect. Most Americans are indoctrinated (successfully) by TPTB from their first day in Sunday School and even before by their parents. Between the clergy, the public education system, the media (including "news" and entertainment) and the continual prodding/group-think of their fellow brain-washed tribe members, they haven't got much of a chance to develop a logical thought. It's much better to be a right-thinking tribe member than a free thinking outcast.
Bernays was right. So was Spinoza.
So explain what is ignorant about individual liberty and personal responsibility and taking pride in being self reliant and not a burden on others?
What is ignorant about a belief that excessive government limits freedom?
This is how we used to be raised.
And what is the alternative explanation for taxes falling most heavily on the middle class and small business while obamao dreams of big government programs and courts wall street campaign money?
Perhaps so, but it is decreed and directed from the very top, and for the purposes of keeping everybody else subservient and living under an iron rule that those at the top do not even slightly adhere to. Who were the "Just Men" who hired Marx to write the Communist Manifesto, why does it push for a socialist state, and who in their right might would think that such a brutally efficient apparatus would ever wither away into perfect communism?
Inner Party (international banksters) > outer party (politicians and businesspeople) > proles (everyone else)
Bullshit nonsense. I've read a few posts of you that made sense, but when it comes to alternatives to the corporate fascist state you live in, you americans are really totally utterly clueless.
And now I'm out of here, before I lose my temper.
Our problem is crony capitalism. If we lived under true capitalism we would of had a hard reset in 2008. Actually, much beforehand as this has gone on for awhile. But yeah, we have been sold down the river.
Reptil I am truly interested in hearing alternative viewpoints. So stay in fight club and give us one.
Does your viewpoint include heavy european style taxes?
A large government?
How will you make it work? It always seems to fall apart when wants are greater than productivity will allow.
+1 Brilliant !
- 1 Ayn Rand was a wench.
Is it really true sir alan greenspan was her boytoy?
That is a horrible mental image.
yep, total fanboy. Until '08, when he admitted he might be wrong about this whole laissez-faire thing. The Randians tend to forget that running a country is a little different than running a company. You can't exactly fire the poor, they've ...err, already been fired. And unless you plan to kill them all or put them in jail, social programs keep them from mugging the "productive class", as she loved to call them.
Indeed, a real two-bagger.
Westerns made is Italy were called spaghetti westerns. It it's made in Greece would it be a yoghurt western?
At any rate, the best synopsis on those trickle down theories from The Outlaw Josey Wales.
http://www.youtube.com/watch?v=kfdpcrOgUp4
The spaghetti westerns were made in Spain. The extras were cheaper and being oilier and dirtier than Italians they needed less makeup.
The good guys in the Grease Westerns are called Gyros... ask Leo if you do not believe me
Leo is AWOL from ZeroHedge right now, standing in the middle of Athen's empty Smegma Square and shouting at the pigeons "Default if you must, but don't you DARE touch the pensions!"