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Greeks Are Europe's Hardest Working People According To... The Greeks

Tyler Durden's picture





 

Pretty much any commentary here is pointless.

Source: Pew, Greeks and Germans at Polar Opposites, European Unity on the Rocks

 


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Tue, 05/29/2012 - 13:05 | Link to Comment Mr Lennon Hendrix
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I AM THE GREATEST DAY TRADER EVER!!!

Tue, 05/29/2012 - 13:06 | Link to Comment Colombian Gringo
Colombian Gringo's picture

Never underestimate the poor lubrication properties of Tziki Sauce....poor greeks gotta push extra hard.

Tue, 05/29/2012 - 13:08 | Link to Comment vast-dom
Tue, 05/29/2012 - 13:41 | Link to Comment The Big Ching-aso
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If U work hard in Greece they assume your father is German & your mother is a retard.

Tue, 05/29/2012 - 15:36 | Link to Comment Matt
Matt's picture

What I found interesting is that everyone unanimously voted Germany Least Corrupt, and how many countries voted themselves as being the Most Corrupt.

Tue, 05/29/2012 - 13:29 | Link to Comment Aziz
Aziz's picture

The facts show the Greeks work almost the most hours in Europe. I don't know how much of a fudge that is (even though they work a lot of hours they are still relatively unproductive) but blaming Greece's problems on laziness seems quite intellectually lazy.

I blame Goldman Sachs for bullshitting them into a broken and unsuitable Euro system, that pushed capital into the Greek economy, creating a huge bubble that naturally burst.

Tue, 05/29/2012 - 13:33 | Link to Comment tmosley
tmosley's picture

Exactly.  Like most things, the common answer is totally wrong.  Laziness is an excellent quality in workers.  It pushes them to develop more efficient means of getting things done, and tends to push drudgery work off on machines, where it belongs.  Working longer hours is a symptom of inefficiency, either systemic or in terms of personal scheduling.

Tue, 05/29/2012 - 13:50 | Link to Comment DoChenRollingBearing
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+ 1

 

"The best programmers are the laziest programmers."

-- author unknown

Tue, 05/29/2012 - 13:50 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

+ 1

 

"The best programmers are the laziest programmers."

-- author unknown

Tue, 05/29/2012 - 13:55 | Link to Comment The Big Ching-aso
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I don't know Y but I'm gonna give U 2 up arrows for that.

Tue, 05/29/2012 - 13:59 | Link to Comment Steaming_Wookie_Doo
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I can tell you that Larry Wall (developer of PERL) said the 3 virtues of a programmer were Laziness, Impatience, and Hubris.

Tue, 05/29/2012 - 14:19 | Link to Comment sdmodiano
sdmodiano's picture

That depends on what you mean by lazy.  If you mean that you write code that has the processor do most of the work, fine for the most part.  However, the more common form of a lazy programmer is a cut and paste specialist that snarfs code from other program and uses it in the system without really understanding how it works detail (lazy).  This usually introduces buggy behavior that can be a royal bitch to debug, as the lazy guy is also the guy that will assert that his shit is not where the problem is, and so it goes...

 

So, like cholesterol, there is good laziness and bad laziness.

Tue, 05/29/2012 - 14:32 | Link to Comment Kilgore Trout
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Good lazy programmers don't keep writing the same code over and over and over again.

Tue, 05/29/2012 - 13:57 | Link to Comment The Big Ching-aso
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Have U guys ever seen a Greek Time Clock?   It's missing the hour hand.

Tue, 05/29/2012 - 15:27 | Link to Comment Bag Of Meat
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Have you heard an american joke? It's missing cleverness

Tue, 05/29/2012 - 15:59 | Link to Comment The Big Ching-aso
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Well, obviously you're American.

 

Tue, 05/29/2012 - 17:26 | Link to Comment Argonaught
Argonaught's picture

Your original retort was witty and a bit more mean-spirited.  The current low-brow version, me no likey.  I would take back my +1, if I could.

Tue, 05/29/2012 - 14:30 | Link to Comment Xkwisetly Paneful
Xkwisetly Paneful's picture

There is nothing lazy at all about retiring at 55yo with six pensions, full healthcare, while at the same time cashing out for 2X the net present value of your life at lint like interest.

If there was America would be the laziest country on the planet.

Tue, 05/29/2012 - 14:44 | Link to Comment Xkwisetly Paneful
Xkwisetly Paneful's picture

Completely forgetting that the Greeks grossly overstated their GDP for 40yrs or something after WWII enabling them to fraudulently borrow more than would otherwise be able.

The problem with this theory is those damn evil zionista bankers DID NOT create the hundreds of trillions of unfunded social obligations that is the entire base of the global debt.  For instance when New Jersey refis their debt next month at junk rates, it is for unfunded pensions and healthcare-has nothing to do with anything other than building up a state governance that it cannot support. No military, higher than avg taxes, large coastline, proximity to NYC and PHILA without the direct costs of either and voila those damn evil bankers! GMAFBA.

Otherwise I agree 100%, if some guy starts banging on my door offering me endless money for virtual free, can bet your ass I am taking it. Oh wait, that is exactly WTF went on and I didn't take it! Fuck did I miss out! All this time, I could have been living high off the hog and have dizized economics et al defending me. Jealous, envious, fuck hell YES and if I was dumb enough to keep money in a bank, I would still be paying for them with the 99.9% tax on interest income.

WHy didn't I take it? I have something to lose, not coming into the game with nothing and trying to leave with something.

Tue, 05/29/2012 - 20:10 | Link to Comment ffart
ffart's picture

I keep downvoting this guy but he keeps making more posts. What am I doing wrong, ZH?

Tue, 05/29/2012 - 21:01 | Link to Comment Excursionist
Excursionist's picture

First year in business school, we were sorted into five-person study groups.  The sorting was very politically correct, as each group received a token [insert group other than caucasian males].  My team was blessed with a Greek national, imported from somewhere on the mainland.

I thought I knew what laziness was, but this guy perfected the art of doing nothing and attempting to claim credit for something to a level several quanta above where I thought potheads set the ceiling.  If the Olympics had an event of this kind, then this dude would have been a gold medalist five times over.  Punch line:  he washed out before the end of the first year.

Did my group get lucky with a statistical anomaly?  Or was he representative of the aggregate?  My sense is the latter.  Stop blaming GS.  GS wouldn't have gotten two inches into the swap deal your cite without the aegis of Greek technocrats.  And start blaming the populace that elected officials who instituted unsustainable social benefits and rigid labor laws.

Tue, 05/29/2012 - 13:23 | Link to Comment ACP
ACP's picture

Hey, it takes hours of prep to cook a nice lamb meal for Anthony Bourdain, paid for with the tax dollars you started collecting when you were 50. Hell, it's about time for another episode.

Tue, 05/29/2012 - 13:14 | Link to Comment LongSoupLine
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Confused-cious says, "Show me hard working Greek, I show you empty Viagra bottle"

Tue, 05/29/2012 - 13:23 | Link to Comment Dr. Engali
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I thought Robo was the best trader in the world.

Tue, 05/29/2012 - 13:59 | Link to Comment gatorengineer
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Wow you mean you shorted this mornings pop?  You must be a genius, Wiley E Coyote would be envious.

Tue, 05/29/2012 - 13:06 | Link to Comment doomandbloom
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"Greeks are not lazy, they are resting" - Mr Panos

Tue, 05/29/2012 - 13:28 | Link to Comment Pegasus Muse
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Views in:  USA 

Most Hardworking:  Illegal Aliens (Mexicans)

Least Hardworking:  Blacks 

Most Corrupt:  Obama & CON-gress & Mainstream Media

Least Corrupt:  Ron Paul

Biggest War Criminals:  Bush II (Iraq) & Obama (Libya)

http://billmoyers.com/episode/full-show-reckoning-with-torture/    

 

http://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=8348

Tue, 05/29/2012 - 13:33 | Link to Comment lolmao500
lolmao500's picture

True dat. Biggest war criminals : Brezinski, Kissinger, Bush Sr., Clinton, Rumsfeld, Cheney, Rice, etc... lots of names on that list.

Tue, 05/29/2012 - 13:44 | Link to Comment massergy
massergy's picture

"Least Hardworking: Blacks"

 

Just needs to whip harder: Whites

Going to hell: Me

 

 

 

Tue, 05/29/2012 - 13:45 | Link to Comment besnook
besnook's picture

most corrupt: jews and chinese

least corrupt: fundamentalist white christians

Tue, 05/29/2012 - 13:56 | Link to Comment narapoiddyslexia
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But fundamentalist white Christians are the most corruptible.

See the list of sex scandals involving fundamentalist Christians

http://en.wikipedia.org/wiki/List_of_scandals_involving_evangelical_Chri...

'nuff said.

Tue, 05/29/2012 - 16:57 | Link to Comment Max Hunter
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When it comes to business contracts, the Chinese are by far the most corrupt.. According to my experience..

Tue, 05/29/2012 - 14:07 | Link to Comment insanelysane
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glass house meet stones

Tue, 05/29/2012 - 13:56 | Link to Comment Greenie
Greenie's picture

 "Least Corrupt: Ron Paul"

Add ZH

Tue, 05/29/2012 - 13:23 | Link to Comment Peter Pan
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Does anyone realise that the cost of German corruption is heaps bigger than the whole of the Greek economy? Currently the estimate stands at €250 billion. Not only that they rank 14th.

Tue, 05/29/2012 - 14:18 | Link to Comment nicxios
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Shhh! Facts don't count, only what the talking heads on tv say count.

Tue, 05/29/2012 - 14:52 | Link to Comment Satan
Satan's picture

From fighting the Romans?

Tue, 05/29/2012 - 13:07 | Link to Comment barliman
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Amazing amount of European prejudices & perspectives ...

... all crammed into one tiny little chart.

barliman

Tue, 05/29/2012 - 13:10 | Link to Comment BlandJoe24
BlandJoe24's picture

(the whole thing, not just the greek part): Best laugh of the day (so far)! :-)

Tue, 05/29/2012 - 15:20 | Link to Comment Nobody For President
Tue, 05/29/2012 - 13:07 | Link to Comment battle axe
battle axe's picture

Well, at least the Greeks have a sense of humor about themselves....

Tue, 05/29/2012 - 13:08 | Link to Comment WhyDoesItHurtWh...
WhyDoesItHurtWhen iPee's picture

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

Hardest working man in show buisness?

Tue, 05/29/2012 - 13:25 | Link to Comment ChickenTikka
ChickenTikka's picture

Awesome!

Tue, 05/29/2012 - 13:08 | Link to Comment blunderdog
blunderdog's picture

Well, shit, they also say they're the most corrupt.

You know--maybe they ARE the most hardworking, but all the proceeds are stolen, so it doesn't show.  Hee hee.

Tue, 05/29/2012 - 13:09 | Link to Comment nantucket
nantucket's picture

we need the youtube greek guy to comment on this, i'm sure there's a good explanation.  MALAKA!

Tue, 05/29/2012 - 13:09 | Link to Comment Stoploss
Tue, 05/29/2012 - 13:23 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

That is a bad sign, indeed.

Tue, 05/29/2012 - 13:09 | Link to Comment ZeroPower
ZeroPower's picture

The Polish think the Polish are most corrupt. Unfortunately not many Poles have been to Greece.

Tue, 05/29/2012 - 13:12 | Link to Comment barliman
barliman's picture

 

Perspective. It's all about perspective.

From Spain on down, they are self-evaluating.

The top three are looking at the REAL problem child they are going to have to deal with SOON ...

barliman

Tue, 05/29/2012 - 13:24 | Link to Comment Sauk Leader
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Maybe they misunderstood the question and thought it was... "How hard is it for you to get up and go to work."

Tue, 05/29/2012 - 13:17 | Link to Comment BeetleBailey
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Italy wins the most corrupt category..something they can be proud of.

Their first "win" in decades. Millenia.

 

Tue, 05/29/2012 - 13:24 | Link to Comment Zeilschip
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Brazil 5, Italy 4, Germany 3. If you know what I mean.

Tue, 05/29/2012 - 13:09 | Link to Comment BattlegroundEur...
BattlegroundEurope2011's picture

Lazy BUMS.  Too much sun imo.

Tue, 05/29/2012 - 13:10 | Link to Comment BandGap
BandGap's picture

Wow, I guess there's a shortage of mirrors in greece.

Tue, 05/29/2012 - 13:13 | Link to Comment carbonmutant
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Actually I'm a little surprised that  most Europeans think Italy is more corrupt than Greece...

Tue, 05/29/2012 - 13:31 | Link to Comment lolmao500
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All those Godfather movies helped... (well the two first ones) and all that ``Italian mafia`` culture... funny that nobody ever talks about the Irish mafia/etc... all that people talk about are the Russian and Italian mafia... sometimes people talk about the Chinese and Japanese mafias, but thats it.

Nobody ever heard of the Greek mafia and if it exists, you probably wouldn't be scared of them.

Tue, 05/29/2012 - 13:44 | Link to Comment SonOfSoros
SonOfSoros's picture

Indeed. They won't be working either way.

Tue, 05/29/2012 - 16:29 | Link to Comment barliman
barliman's picture

 

Most Europeans have been to both countries ...

barliman

Tue, 05/29/2012 - 13:10 | Link to Comment Dr. Engali
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That's hillarious. The Greeks know where the corruption is too.

Tue, 05/29/2012 - 13:15 | Link to Comment Temporalist
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If you read the chart properly the Greeks know they are the hardest working at corruption.

Tue, 05/29/2012 - 13:10 | Link to Comment hellas4life
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Myth: Greeks are lazy. This underlies much of what is said about the crisis, the implication presumably being that our lax Mediterranean work-ethic is at the heart of our self-inflicted downfall. And yet, OECD data show that in 2008, Greeks worked on average 2120 hours a year. That is 690 hours more than the average German and 467 more than the average Brit. Only Koreans work longer hours. The paid leave entitlement in Greece is on average 23 days, lower than the UK’s minimum 28 and Germany’s whopping 30.

Myth: Greeks retire early. The figure of 53 years old as an average retirement age is being bandied about. So much so, that it is has become folk-fact. It originates from a lazy comment on the New York Times website. It was then repeated by Fox News and printed in other publications. Greek civil servants have the option to retire after 17.5 years of service, but this is on half benefits. The figure of 53 is a misinformed conflation of the number of people who choose to do this (in most cases to go on to different careers) and those who stay in public service until their full entitlement becomes available.

Looking at Eurostat’s data from 2005 the average age of exit from the labour force in Greece (indicated in the graph below as EL for Ellas) was 61.7; higher than Germany, France or Italy and higher than the EU27 average. Since then Greece have had to raise the minimum age of retirement twice under bail-out conditions and so this figure is likely to rise further.

http://www.newstatesman.com/blogs/world-affairs/2012/05/exploding-myth-f...

Tue, 05/29/2012 - 13:13 | Link to Comment hedgeless_horseman
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Not only are Greeks lazy, they are proven liars, especially in regards to economic statistics. 

Tue, 05/29/2012 - 13:18 | Link to Comment vast-dom
vast-dom's picture

that's funny hedgeless. and egyptians like to fuck fresh bride corpses, huh? or maybe there is a nation left on planet earth that does NOT lie about their econ stats?

 

 

Tue, 05/29/2012 - 13:47 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

If you wish to continue to try to bait me into a verbal sparring match, might I suggest you first familiarize yourself with the information on this web page

I do look forward to the possibility that you attempt to communicate without using some form of fallacy.

Tue, 05/29/2012 - 14:22 | Link to Comment AnAnonymous
AnAnonymous's picture

I do look forward to the possibility that you attempt to communicate without using some form of fallacy.
___________________________________________

US citizens are able to do that?

The ability of US citizens of thinking themselves different from their fellow US citizens amazes.

Tue, 05/29/2012 - 14:30 | Link to Comment Calmyourself
Calmyourself's picture

Your chair at Foxconn is getting cold, run along..

Tue, 05/29/2012 - 14:31 | Link to Comment Terminus C
Terminus C's picture

OMG! I just figured it out. US citizenism are the Borg!!!!!111111ONEONEone!

Tue, 05/29/2012 - 14:51 | Link to Comment AnAnonymous
AnAnonymous's picture

What is needed to illustrate the point?

You know, US citizen nature is eternal, be it expressed or not. Being reported about or not.

Tue, 05/29/2012 - 13:15 | Link to Comment hellas4life
hellas4life's picture

do the greeks author and produce eurostat and oecd data?

Tue, 05/29/2012 - 13:17 | Link to Comment Argonaught
Argonaught's picture

No.  But that's not the point.  If you examine what OECD says about the data:

The concept used is the total number of hours worked over the year divided by the average number of people in employment. The data are intended for comparisons of trends over time; they are unsuitable for comparisons of the level of average annual hours of work for a given year, because of differences in their sources.  Part-time workers are covered as well as full-time workers.

Tue, 05/29/2012 - 13:34 | Link to Comment hellas4life
hellas4life's picture

"The data are intended for comparisons of trends over time"

 

http://stats.oecd.org/Index.aspx?DataSetCode=ANHRS

data spans a 10 year period

Tue, 05/29/2012 - 13:40 | Link to Comment Argonaught
Argonaught's picture

Yes, COMPARISON WITHIN COUNTRY over time.  Not for comparison of one country to another.

Tue, 05/29/2012 - 13:13 | Link to Comment battle axe
battle axe's picture

Old joke, Number one export of Greece to the United States, "Hard working Greeks". Not seeing any evidence to the contrary...

Tue, 05/29/2012 - 13:14 | Link to Comment nantucket
nantucket's picture

perhaps how each country defines "work" is the reason for the difference.

Tue, 05/29/2012 - 13:33 | Link to Comment Sandmann
Sandmann's picture

That is 690 hours more than the average German

 

Astounding. Clearly "the AVERAGE German" is doing much more with his time than the AVERAGE Greek - and that as they say is P R O D U C T I V I T Y

Tue, 05/29/2012 - 13:40 | Link to Comment hellas4life
hellas4life's picture

productivity or a fixed game enabled by the EU currency

 

Which brings us to the key third variable in German politics: Germany 3, Industrial Germany, the Germany of Siemens, Daimler, Volkswagen, the great steel and chemical companies, the capital goods manufacturers. Clearly, these companies benefited substantially from the economic stewardship provided by institutions such as the Bundsebank, along with the broad adherence to Erhard’s social market economy. But they also recognized the benefits entailed by a completely open and integrated European market (still the largest component of their sales). Currency union, even if it meant admission of fiscal profligates such as Italy and Spain, also minimized the threat of competitive currency devaluation, given the implementation of a European wide euro (as opposed to the narrow currency zone which represented the limits of the Bundesbank’s internationalism). Industrial Germany rightly perceived that a broadly based euro zone which incorporated chronic currency devaluers such as Italy, permanently entrenched their competitive advantage. And with the support of this key component of German society, Chancellor Kohl, was able to embark on the huge institutional transformation embodied in the Maastricht Treaty.

 

“Germany #3? in effect placed the right bet: by locking in chronic devaluers to a currency union (thereby precluding the traditional expedient of currency devaluation to regain export competitiveness), Berlin in effect entrenched Germany’s mercantilist model and consolidated the country’s dominance as the trade superpower of Europe. The benefits are self-evident, given the contrasting data between Germany and the PIIGS.

Of course, one can already hear Germany’s apologists proclaiming that this success is the product of taking “hard decisions” in the earlier part of this century, in particular, the so-called “Hartz reforms”. The Germans have always been obsessed with export competitiveness. In the period before the euro, they would devalue the Deutschmark so that they could increase the sales of their products to their neighbors. Once the Germans lost control of the exchange rate by signing up to the Economic and Monetary Union (EMU), they couldn’t perform this trick anymore. They had to manipulate other “cost” variables in order to sell goods cheaply. So starting in 2002, they focused on wage suppression and cutting into the social safety net for workers through something called the Hartz package of “welfare reforms,” named after Peter Hartz, a key executive from German car manufacturer Volkswagen.

 

http://yanisvaroufakis.eu/2012/05/20/guest-post-today-germany-is-the-big...

Tue, 05/29/2012 - 14:16 | Link to Comment battle axe
battle axe's picture

hellas4life: Just two questions: 1)How did the Greeks get into their current situation? 2)Will they leave the Euro, and if so, when? 

 

P.S. You are fighting a losing battle here (just an opinion).

Tue, 05/29/2012 - 14:25 | Link to Comment hellas4life
hellas4life's picture

1) combination of having the highest military spending as a % of gdp in all of europe (expensive navy to defend the 11th largest coastline in the world, cyprus, turkey etc), 80% of the taxes that should have been collected were not, high levels of corruption and nepotism among the elite and the govt connected (much like in the US), aging population, eu export controls, euro currency favoring countries like germany and so on and so forth

 

2) yes - hopefully on june 18

 

http://online.wsj.com/article/SB1000142405270230420360457739617100765204...

Tue, 05/29/2012 - 22:13 | Link to Comment Sandmann
Sandmann's picture

In the period before the euro, they would devalue the Deutschmark so that they could increase the sales of their products to their neighbors.

When was he D-Mark DEvalued ?

The US dollar, French FRanc, Italian Lirra, UK Pound ALL devalued but when did the D-Mark DEvalue ?

Tue, 05/29/2012 - 13:53 | Link to Comment PivotalTrades
PivotalTrades's picture

Getting paid for having a jop is not the same as working.

Tue, 05/29/2012 - 14:32 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

Please explain the following concept:

P R O D U C T I V I T Y

and feel free talk down to me like I'm a five-year old and/or Eastern European and/or gypsy and/or Mediterranean beach bum.

Peak 'Productivity' is past us unless you plan on re-introducing child labor. Even Germans who were considered lazy and too individualistic by the Brits not too long ago.

Instead of being stuck in this Procrustean ideological cul-de-sac we need to change the metrics; revalue civilization. It's coming anyway.

Tue, 05/29/2012 - 22:11 | Link to Comment Sandmann
Sandmann's picture

eel free talk down to me like I'm a five-year old and/or Eastern European and/or gypsy and/or Mediterranean beach bum

Well  if that is how you feel most comfortable......

lazy and too individualistic by the Brits not too long ago  

When ? By whom ?

Peak 'Productivity' is past us

Rubbish. It depends on the value-added nature of the goods produced. The US/UK use aerospace to boost productivity - Germans have high-grade engineering. It is all to do with sector mix

Wed, 05/30/2012 - 06:41 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

Chapter 9 pages 183-189 will answer:

When ? By whom ?

http://www.amazon.com/Bad-Samaritans-Secret-History-Capitalism/dp/159691...

Despite aerospace and German 'engineering' the labor force participation has peaked in those nations. Women work, the youth are expected to work, and the entire social fabric of Western society is based upon work. The machinery no longer makes any sense except to further the gulag in a sad flailing attempt to keep anxiety at bay.

You don't have to like it, but those are the facts.

 

Wed, 05/30/2012 - 07:32 | Link to Comment Ghordius
Ghordius's picture

long time ago I learned that Land + Capital + Labour = Output, meaning that productivity is a factor, i.e. depends.

i.e. a monkey pushing the right buttons in a space factory could be more productive than Leonardo da Vinci in prison with his hands tied behind his back.

Tue, 05/29/2012 - 13:36 | Link to Comment disabledvet
disabledvet's picture

If up here is any example I sure wouldn't agree with any "lazy Greek" comment either. One chart is spot on however..."con gusto" as the Spanish would say.

Tue, 05/29/2012 - 13:56 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Koreans DO bust their butts... 60 hour + workweeks are the norm among the ones I do business with.

Tue, 05/29/2012 - 17:02 | Link to Comment Max Hunter
Max Hunter's picture

Greeks worked on average 2120 hours a year.

What the fuck are they doing? Painting each other's toenails?  Give me a break.. If they worked that hard there would be exports to show for it.. I'm calling bullshit on this one.

Tue, 05/29/2012 - 13:10 | Link to Comment LongSoupLine
LongSoupLine's picture

 

 

 

Greeks are the hardest working...when they're working that is.

Tue, 05/29/2012 - 13:15 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

The iconic Maytag repairman must be Greek.

Tue, 05/29/2012 - 13:12 | Link to Comment Peter Pan
Peter Pan's picture

Comparisons and conclusions must take into account the following:

1. Productivity
2. Rate of pay
3. Is what is being produced of any real benefit? For example you may have a very hard working public servant that simply puts a second stamp on documents but adds nothing to the economy.

Tue, 05/29/2012 - 13:22 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

hard to say...depends on the multiplier effect of that second stamp

Tue, 05/29/2012 - 13:12 | Link to Comment BluePill
BluePill's picture

All hail our german Aryan brothers --Aryan german Frau and Menshen are most dilligent hard workers and nation builders

 

Now this is the evidence which cannot be refuted by any one--Adolf is right as always

Tue, 05/29/2012 - 13:27 | Link to Comment Peter Pan
Peter Pan's picture

German productivity hit a high point in WWII but somehow that did not translate into prosperity.

Tue, 05/29/2012 - 13:36 | Link to Comment Sandmann
Sandmann's picture

How do you work that out ? Germany NEVER went to 24-hour production in WW2 and was quickly outproduced by Britain which did. German production figures suggest no great increase in output of weapons to match British 24-hour production.

Considering the Allies reduced Germany's steel capacity  after 1945 to 1932 levels it was hardly likely that productivity would be higher if output was throttled by Allied Controls

Tue, 05/29/2012 - 13:12 | Link to Comment Dr. Engali
Dr. Engali's picture

Those Molotov cocktails are labor intensive.

Tue, 05/29/2012 - 14:04 | Link to Comment Agent P
Agent P's picture

as is tax evasion

Tue, 05/29/2012 - 13:14 | Link to Comment Joe Sixpack
Joe Sixpack's picture

The Greeks work hardly all day long!

Tue, 05/29/2012 - 13:15 | Link to Comment q99x2
q99x2's picture

Romania must be a nice place to live.

Tue, 05/29/2012 - 13:17 | Link to Comment Joebloinvestor
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If you read between the lines, Greeks are the hardest workers at being corrupt.

Tue, 05/29/2012 - 13:20 | Link to Comment robertocarlos
robertocarlos's picture

Think of bribes as a non govt tax. You want good services you have to pay taxes. I'm against taxes and until the govt stops taxing I have no problem with Greeks.

Tue, 05/29/2012 - 13:22 | Link to Comment timbo_em
timbo_em's picture

We Germans might be the most productive but there is no way that we work the most. We tend to have a lot of holidays compared to other countries (thank you unions!!) and then there are quite a few christian bank holidays, too (thank you Jesus).

Tue, 05/29/2012 - 13:34 | Link to Comment The Alarmist
The Alarmist's picture

I enjoy the six weeks of holiday, but I have to work twice as hard when back on the job. I actually read somewhere that the French ( private sector) are the most productive.

Tue, 05/29/2012 - 13:39 | Link to Comment Sandmann
Sandmann's picture

No but German Workers are detail oriented and focused on the task with a concentration lacking in other manufacturing countries including Japan. There is a major difference in approach to technical tasks and far higher quality output.

Tue, 05/29/2012 - 14:35 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

Not that Germans don't do honest work but it's all in your head.

Tue, 05/29/2012 - 22:07 | Link to Comment Sandmann
Sandmann's picture

So you have worked in German factories have you ? And you have worked on production lines ? I have

Wed, 05/30/2012 - 06:47 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

Any difference that exists isn't major enough to start some pathetic theory of 'cultural' connections to national work ethic.

As I told you before, before the 1960s the Brits considered Germans lazy. Well documented, just follow my link and stop worshiping at the Temple of Market Nihilism.

Wed, 05/30/2012 - 06:49 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

Dup

Tue, 05/29/2012 - 13:22 | Link to Comment BeetleBailey
BeetleBailey's picture

...makes me want to go right down to the unemployment office and file....

The name I'll use;

Nikos Corruptolopolous

Place of Birth: Idlewildus

Occupation: That stool over there..right there!

Experience: PLENTY...look at the wear on that stool!

Tue, 05/29/2012 - 13:27 | Link to Comment lolmao500
lolmao500's picture

If you ACTUALLY look at the numbers, people in Greece work more than almost anyone in Europe. Those who work the less = Germany and France.

Who cares what people think, all that matters are FACTS...

http://www.guardian.co.uk/news/datablog/2011/dec/08/europe-working-hours

Tue, 05/29/2012 - 13:31 | Link to Comment The Alarmist
The Alarmist's picture

Don't fall into the trap of confusing hours "on the clock" with working long or hard.

Tue, 05/29/2012 - 13:31 | Link to Comment earnyermoney
earnyermoney's picture

How productive is their work?

Tue, 05/29/2012 - 13:50 | Link to Comment lolmao500
lolmao500's picture

Probably not much but thats because they dont have industries like Germany. Send industries like that in Greece and the work will get done too, I'm pretty sure.

Tue, 05/29/2012 - 13:57 | Link to Comment Tortuga
Tortuga's picture

Is that counting the 13th month bonus as hours or 1.5 x on all government workers hours that are 65% of employment?

 

Tue, 05/29/2012 - 13:26 | Link to Comment williambanzai7
williambanzai7's picture

I suppose it all depends what it is they are working on. They seem industrious when it comes to building a financial disaster.

Tue, 05/29/2012 - 13:30 | Link to Comment Peter Pan
Peter Pan's picture

In that case Wall Street bankers come first given the size of the disaster they created.

Tue, 05/29/2012 - 16:35 | Link to Comment barliman
barliman's picture

 

The day is still young.

We have a ways to go to the finish line. Many of the competitors have displayed virtually unmlimited supplies of greed and stupidity.

It's still anyone's race to lose.

barliman

P.S. One does have to admire the City of London bankers. Infinite rehypothecation is as evil as it is stupid.

Tue, 05/29/2012 - 13:28 | Link to Comment SonOfSoros
SonOfSoros's picture

You know, if all else fails, the Greek could start exporting comedy to help boost their GDP. 

They seem to excel at being jokes and I know I would pay for it. 

Tue, 05/29/2012 - 13:29 | Link to Comment The Alarmist
The Alarmist's picture

Greek perception is kind of like Greek love ... nah, never mind.

Tue, 05/29/2012 - 13:37 | Link to Comment Bastiat009
Bastiat009's picture

Yet another day when ZH will totally ignore the gold market.

Tue, 05/29/2012 - 13:54 | Link to Comment Tortuga
Tortuga's picture

what go market? Anyway, that way the algos that are spying on ZH don't pick up any clues on which way to enrich blythe today!

Tue, 05/29/2012 - 13:57 | Link to Comment Tyler Durden
Tyler Durden's picture

Perhaps you missed this from four hours ago:

And this, dear powers that be, is why the general public continues to scratch its head at how it is remotely possible that incompetent crony capitalists get paid tens of millions for blowing up their firms, while everyone else is stuck footing the soon to be soaring inflation bill (because print they must, and print they will).

Would you like a graphic explanation of what this means?

Tue, 05/29/2012 - 14:31 | Link to Comment Bastiat009
Bastiat009's picture

I did miss this.

And was it published before the daily gold fall or after because, you will easily admit it, today's takedown is as sudden as impressive?

Tue, 05/29/2012 - 14:36 | Link to Comment Calmyourself
Calmyourself's picture

I would like you if time permits to break down the two cases or perhaps the midpoint of printing just to cover the TBTF's butts.  Print they must I agree but a further treatment of retai l level effects would be informative for this ignoramus (minor in Econ)

Tue, 05/29/2012 - 13:38 | Link to Comment DarthVaderMentor
DarthVaderMentor's picture

It takes a lot of hard work and skill to be a professional bum and getting regular handouts. 

Tue, 05/29/2012 - 13:42 | Link to Comment ebworthen
ebworthen's picture

Working for politician salaries and banker bonuses is not much of an incentive.

Tue, 05/29/2012 - 13:42 | Link to Comment WallStreetRanter
WallStreetRanter's picture

Too funny! They work very hard.......at being corrupt!

The Wall Street Ranter

Tue, 05/29/2012 - 13:44 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

i couldn't place this guy in a casino a few weeks back;  the penny finally dropped and i introduced myself to a man in his 80s, and he remembered me too

in 1997 we had gone to a raiders game together!  i met him there, kinda thing, since he had season tix;  pretty good seats!  not cheap

greek guy;  had a contracting business south of here, where he lived; so we talked about greece together for a while;  but i had met him on the coast

he loves greece so much but hasn't been back in a while;  but he said most greeks are pretty good workers and take caraBiz;  but, he says, there a lot of lazy bums in greece, too

i didn't tell him about the jobs not being available to many, but i don't think he woulda bought into that;  why the hell is he in the USA for his life? 

he just looked at me and said:  you gotta heluva memory

Tue, 05/29/2012 - 13:46 | Link to Comment Dan Conway
Dan Conway's picture

At least the Greeks view themselves as the most corrupt.

Tue, 05/29/2012 - 13:49 | Link to Comment besnook
besnook's picture

greeks don't work hard because the genius greek mind makes germans work for them. all they have to do is supply the ouzo, feta and olives.

Tue, 05/29/2012 - 13:54 | Link to Comment shargash
shargash's picture

The OECD keeps track of hours worked. The Greeks are at the top of the list in hours worked for the entire OECD. The Germans are pretty far down the list, working about 1/3 fewer hours in year than the average Greek. Nor do the Greeks retire any earlier than the Germans. The idea that the Greeks are lazy is pure propaganda.

Tue, 05/29/2012 - 13:59 | Link to Comment UTICA CLUB XX PURE
UTICA CLUB XX PURE's picture

I clicked the Obama ad 10 times today.

That is a pay per click ad right???

1$ 2$ 3$ 4$ 5$ 6$ 7$ 8$ 9$ 10$

Tue, 05/29/2012 - 14:01 | Link to Comment from a greek island
from a greek island's picture

"Greeks Are Europe's Hardest Working People According To... The Greeks"

Lots would enjoy the joke and few would argue. Organization for Economic Development and Coordination is one of them.http://stats.oecd.org/Index.aspx?DatasetCode=ANHRS

Greeks according to OECD data worked an average of 2109 hours in 2010 and are the hardest working nation in Europe. Germans, the unanimously regarded as most harworking, worked 1419 hours and are one of the least hard working.

Differences in productivity have to do with the amount of capital invested per worker. A worker maintaining a robot in a car factory will make much more money for the company than a worker in a Greek shoe factory.

So, there is perception and reality. But perception is so much more fun. Besides, who would believe a Greek these days, who would even believe official OECD data, if they are cited by a Greek.

Tue, 05/29/2012 - 14:12 | Link to Comment AnAnonymous
AnAnonymous's picture

Just a question: as a US citizen, you know that your nature is not barred by factual reports.

So why do you try that on your fellow US citizens?

They are like you. They are not barred with factual reports.

If US citizens living in the US prefer to propagate that their german cousins in Europe are the most hard working and least corrupted, well, you should know that it will bite.

That is the US citizen way.

And US citizen nature is eternal.

Tue, 05/29/2012 - 14:19 | Link to Comment besnook
besnook's picture

there is something wrong with that data. i think it was supplied by a greek. 2109 hours/year says they work harder than the japanese and americans. there's no way that is true.

Tue, 05/29/2012 - 15:50 | Link to Comment Argonaught
Argonaught's picture

This data can not be used to compare one country to another.  Read the sites notes about the series (and see my post above).  Because each nation's data is collected differently, you should only use the chart to compare YoY within a single country, or to compare trends across countries.  You can not use the chart to make a logical argument that Greeks work harder than Germans.  It may or may not be true, but this data series does not actually say that.

Tue, 05/29/2012 - 14:03 | Link to Comment grapeape
grapeape's picture

an american sailor gets off the boat in greece, in his head long rush to the bar he trips over a drunk'n greek, passed out on the side walk. the sailor yell's at the man. you dirty bum, why don't you get a job. greek says, why i need job. the american tells him, if you had a job you could save up all your money, and then retire, then you could lay around drunk all you wanted. the greek laughs. i already retired, you americans always want to do things the hard way. ha ha ha.

Tue, 05/29/2012 - 14:09 | Link to Comment AnAnonymous
AnAnonymous's picture

Corruption in US citizenism is such a delicate issue.

It is surprising they still cling to the measure of corruption as many of the behaviours they decry are just normalcy in US citizenism.

One of the other fantasies by US citizens.

Tue, 05/29/2012 - 14:12 | Link to Comment donnelbr
donnelbr's picture

I'd work the extra hours too, if i knew my pay rate was about to fall by 30-40%.

Tue, 05/29/2012 - 14:26 | Link to Comment Kataphraktos
Kataphraktos's picture

If you'd said the things I read in these comments about Jews, Peurto Ricans, or Mexicans, you'd be quickly labeled as racists.

But, somehow, you slide when you spread the same slander about Greeks.

You're all a bunch of fucktard racists, and I hope your kids get crack habits as karmic justice. I'll see you all in Keynesian hell, and unlike you Northern types with your fragile constitutions and picky palates, I will joyously feast on your credit-worthy flesh when the end times arrive.

Tue, 05/29/2012 - 14:40 | Link to Comment Jena
Jena's picture

You forgot to finish with "Bwa-ha-ha!"

Tue, 05/29/2012 - 14:54 | Link to Comment AnAnonymous
AnAnonymous's picture

If you'd said the things I read in these comments about Jews, Peurto Ricans, or Mexicans, you'd be quickly labeled as racists.

_________________________________________

And you would be dismissed as fast.

By the way, it is done on the first page of section and do not get a that's racist comment.

To maintain the US citizen ponzi up, some people need to be pushed under the train.

Well, actually, it is racist to think that once the others have yieled what they could, no other would have to be pushed under the train, because of their skin colour.

Tue, 05/29/2012 - 15:18 | Link to Comment Bertie Bear
Bertie Bear's picture

Don't worry. The Us, Uk and even Germany is just as bust as Greece with all it's off balance sheet shit. Greece and Japan are just in the vanguard. Japan is used to this finger pointing a decade ago and now the Japanese are smug in the knowledge that they no longer have to hear the bloody US lecturing them any more because the economy here is an even bigger mess! The Greeks time will come when German Bunds yield 20%. Vive la revolution!

Tue, 05/29/2012 - 14:42 | Link to Comment One eyed man
One eyed man's picture

If you like Greek movies, you might want to check out "Loafing and Camoflage". It''s about some Greek conscripts working for the army press agency who spend most of their time using the Greek army's equipment to make their own pornographic films.

Tue, 05/29/2012 - 15:12 | Link to Comment Bertie Bear
Bertie Bear's picture

It's the same everywhere. Perverse incentives produce perverse outcomes. See what it is like in the UK..

http://www.telegraph.co.uk/news/politics/9296570/Outrageous-case-of-fami...

Tue, 05/29/2012 - 15:52 | Link to Comment AcidRastaHead
AcidRastaHead's picture

Survey in Greece was conducted among 12 guys named Alexandros with a standard error of 2% 11 out of 12 Alexandros's

Tue, 05/29/2012 - 16:21 | Link to Comment Amagnonx
Amagnonx's picture

This kind of crap is so obvious - when the banksters and political class rape an entire nation  -deflect blame onto the people.

 

It is the banking system, and democratic socialism that should be identified as the source of the problems - people are the same everywhere, if the culture is crap - have a look at who is benefiting the most - its certainly not the average person.

Tue, 05/29/2012 - 16:21 | Link to Comment Olympia
Olympia's picture

History shall repeat itself in a far greater scale and therefore the benefit for the leading roles shall be much greater. If ancient Greeks won the battle against the barbarity of the East in favour of Europe, then modern Greeks are those who are meant to win the battle against the barbarity of both Eastern and Western world in favour of the human kind. 

 

Greece is a bomb and you do not pick on bombs with screwdriver-like tools such as insults and threats. They had better care, because in order for their planning to be a safe one, the witch must be left alone and helpless in the stake. They had better care because in order for them to be safe, the witch must be kind of a masochist if it is to stay willingly and burn instead of leave them high and dry to burn up with anger. You cannot possibly wish for Greece to belong to your court and at the same time profiteer at its expense.

 

http://eamb-ydrohoos.blogspot.com/2012/05/greece-among-salem-witches.html

 

All these people should know the boundaries within which things are moving. If they are determined to lead Greece to its death they should be aware of the potential Greece has to harm them in turn; the potential it has to lead them to their death as well – and we do not only refer to financial damage but to non-reversible strategic damage as well. If they open the Aeolus sack they should be aware that there is no lee harbor for anyone. If they open the door to the nuthouse for the Greeks, they will join them as a whole. Things are simple. If they manage to convince Greeks through their idiotic actions that they are irretrievably and irrevocably helpless, they will drive them to the edge of despair. Desperate situations demand desperate measures, though.

 

Tue, 05/29/2012 - 20:12 | Link to Comment reTARD
reTARD's picture

All while Deutsche Bank is in bed with JPM running the interest rate swap and carry-trade game (per Jim Willie as he calls them the twin towers of babel) in order to continue the Fed's promise of ZIRP all while supposedly not quantitatively easing. A prop on each side of the pond trying to perpetuate the next and perhaps last biggest bubble being the bond bubble for which even Greenspan knew of and exited the Fed and the mess to the Bernank.

http://www.marketoracle.co.uk/Article34819.html

http://www.tfmetalsreport.com/podcast/3834/tfmr-podcast-21-jim-willie-returns

Tue, 05/29/2012 - 20:54 | Link to Comment xcehn
xcehn's picture

"Now, wait a second. Is Greece the hardest-working country in Europe, or the least-hardworking? How can it be both? The answer is that what we consider "hardworking" (a proxy for productivity) isn't the same as "working for a long period of time." (E.G.: Monitoring a modern irrigation system is productive. Carrying a few gallons of water on your head for two miles from the nearest stream takes a long time.) In fact, the OECD's richest, most productive, most hardworking countries have some of the shortest working hours. The bottom five, according to the OECD, are Denmark, France, Norway, Germany, and the Netherlands. All are richer per capita than Greece. All are technically "lazier" if you go by hours worked. The missing key is productivity. Germans -- armed with large and scaled-up firms, low corruption, state-of-the-art technologies, financing opportunities, and smart global supply chain management -- get a lot more product out of each hour worked. So does the U.S. With the wealth that our productivity buys, Americans and Germans can afford things like leisure, or savings, or (in the case of the U.S.) lots and lots of stuff. Matt Yglesias put it simply, broadly, and truly: "Countries aren't rich because their people work hard. When people are poor, that's when they work hard."

http://www.theatlantic.com/business/archive/2012/05/why-does-the-laziest...

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