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It's Official - Greece Unveils The Negative Salary, And A Whole New Meaning For "Pay To Play"
We thought we had seen it all. It turns out we hadn't. The country that gave the world the alphabet, philosophy, and plates with funny sexually ambiguous drawings on them, has outdone itself again. Because beginning this month some Greeks will have to pay for the privilege of having a job. From the Press Project:
Salary cutbacks (called "unified payroll") for contract workers at the public sector set to be finalized today. Cuts to be valid retroactively since november 2011. Expected result: Up to 64.000 people will work without salary this month, or even be asked to return money. Amongst them 21.000 teachers, 13.000 municipal employees and 30.000 civil servants.
Needless to say the BLS is salivating at the prospect of US workers paying for a job, as this will immediately allow them to double count said person's role in the employed part of the labor force (which incidentally has shrunk by 1% in the time it took to write this), as the money said "worker" pays can be used in the BLS hedonic models to theoretically hire many more people courtesy of fractional reserve lending. Now if only everyone would agree to pay for the joy of playing Solitaire 9 to 5, then all the world's problems would be solved.
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Brother Silver by 1st Century primitive Christianity do you mean the Jerusalem Assembly led by the James the brother of Jesus (i.e. pretty conservative Judaism 'keeping the law') or the breakaway faction led by the reputed Roman and Herodian agent and enemy of James - Saul ?
@Pope Clement Brother, correctly translated it should read Jacob and not James. Furthermore, when I refer to 1st Century primitive Christianity I refer to the Christianity practised by Jesus Christ (Jesus Anointed) and His followers (the First Fruits). True Christianity has never consisted of competing factions... Yes, Saul was indeed an agent of the Diabolical One at some stage, alledgedly 20 000 Christian families were slaughtered under his command, but that was before the True and Living God, Jesus Christ, brough him to his senses and he was called Paul. The moment a faction or branch within Christianity goes against the principles and absolute truth as stated in a truthful translation of God's Word, that faction or branch cease to exist as a Christian entity. In addition, it is more correct to refer to Christians as members of the same Body Politic/Government/Church than to use the word "factions", as if they are competing against each other, which is not true. There may not be any divisions among Christians.
Not really. I'm an atheist.
You confuse atheism with sociopathy and personality disorders.
When I write against atheists, I write against atheists in the sense of those who are atheists in the true sense of the word... those who blatantly deny God's existence... it is deemed as insanity by the True and Living God, it is not my personal opinion. However, those who are not sure which persuasion or way of life to follow, who are actively searching for truth and a purpose in life, those who don't blatantly deny God's existence, I am not writing against them, but I sure as hell hope that they will receive an epignosis (saving knowledge of truth) and start to serve the True and Living God. So if you're an atheist in the true sense of the word... you're looking for sympathy at the wrong guy. Again, it is not my personal opinion.
I am an atheist, and I am not looking for sympathy. It should be clear from my words and actions that I am not the sociopathic lunatic that Trav is. Nor are 99% of other atheists.
Theists tend to fall back on their fear of being spanked by some invisible being who felt the need to reveal himself in a major way thousands of years ago, yet can't be bothered to do it now, whereas an atheist is moral without fear. Morality is in our long term self interest. Idiot sociopaths like Trav think they know what is best for themselves and for everyone else, everyone else be damned. Their behavior is like trying to plant a forest by destroying trees. Each act of interference in the markets and society in addition to being harmful on the face of it, damages the fabric of society. Such a damaged society will inevitably turn violent, and that violence is likely to turn on those who did the destroying.
Luckily, in Trav's case, he wants to sterilize black people. The cycle there will be a lot faster :)
I will give you this much, you seem to be a reasonable and rational person... I know that I won't be able to make a Christian out of you in a little, but I am 100% sure you haven't discovered the real thing yet, because you and many self-proclaimed atheists would embrace true non-Judaized Christianity with open arms. True Christianity is based on logic and rational thoughts, the True and Living God don't expect anyone to march in a band of lunatics and to adhere to thoughts and ideas that are foreign and insane to say the least. The fact that you admit to embrace morality is to me a sign that you indeed embrace the natural order God has created to at least some extent. God still reveals Himself to us today, but it is in ways that only those who know Him and are known by Him can see. It is God in us and us in Him. We are not waiting on Him, He is here and doing works of power through us. He will never leave or forsake us. His Word in its unadulterated form is the Final Plan for victory here upon earth... we should obey Him and He will open the windows of Heaven to shower us with blessings and everything good. I am not asking you to embrace religion, but a way of life, because that is what Christianity is, a way of life.
nevermind that your strawman first sentence isn't even REMOTELY characteristic of what I said....carry on, idiot.
You have a very short memory it seems... did you really think that I would forget that you told me in a previous post that you're an atheist? If not, stop acting like one. And yes, it is truly an honour to be called an idiot by the likes of you.
How is it a strawman? You are belittling the fact that they are having their wages taken from them, as though the government owned them.
But then, you are insane, so logic and arguments have no effect on you.
Exactly!
How can the debts of a nation be used to justify austerity measures against an entire population? Will you be so snide when America's debts, run up by the Boomer's with their global empire building and entitlement programs, are passed onto the youth of America who already have nothing? Unemployment among ages 16-29 is over 30%. The net worth of the average house hold headed by a 30 year old is about $3,000.
National debt is being used to justify outright enslavement of national populations in order to support the generous welfare benefits that their parents and grand parents set up for themselves. This is an existential problem for national governments. They no longer represent "the people" at large, but only exist to serve the interests of fading generations of elderly people.
What does anyone under the age of 30 in America or Greece have to do with those nation's national debts and unfunded entitlement programs? The logical outcome is mass exodus from the neo-feudal slave states or revolution against the oligarchy. The latter is the more likely scenario.
Right complaint, wrong target. Boomers as a generational class had nothing to do with the establishment of most entitlements/welfare benefits. Progressives have been pushing this garbage since at least Teddy and Woodrow, back around 1900-1920. Whatever their ultimate motives, the elitists have instituted programs that have made most Main Street citizens little more than debt slaves dependent upon the benevolence of TPTB in government.
The more recent moves by the presidential Boomers Clintoon-Bush-Obama have expanded slavery beyond the financial realm, debt slavery, to now make everyone a potential criminal via insame anti-terrorist policies and mandatory government programs. Think nationalized healthcare mandates if you need an example. Think affirmative action for another. Or the NDAA sections about ignoring citizens' Constitutioinal rights.
It's multi-generational. It may even be eternal. The struggle between liberty and totalitarianism goes on and on, just like the struggle between good and evil. Some would say it's in our genes, while others would label it 'original sin'.
Regardless of who is ultimately to blame for the entitlement programs there is no denying that the Boomers are the beneficiary of those programs whereas the youth of America are in dire economic straits with no perceptible light at the end of the tunnel. The elderly, clutching to their entitlements, while their children and grand children live together in multi-generational homes with a constantly declining standard of living.
As for the rest, well, my solution is to leave the country before the police state apparatus and legal structure that has been built over the past decade or so is put into full effect. If I must live in a socialist welfare state, it's at least going to be one that isn't also a fascist police state.
Socialism baby! coming to a town near you... This time it'll work, though. I know it...
Modern day slavery.
Well, February IS black history month... Time for all the blacks to remind everyone how oppressed they were until rap music came along...
they still are. Other races like asians aren't. Things like the chinese exclusion act of 1882 never happened.
but blacks beez gypshuns nshit
dry cleaning technology didn't occur to Obama's great great great ancestry, so they decided to profit from just selling their brothers into slavery...
Good god you are some terrible fucking people.
Good God, you are some terribly truthful people.
Fixed.
Fixed? They're not mutually exclusive.
Agreed. I happened to agree with what Trav, posted.
I reserve the right to argue points where I disagree, or simply push the red button and move on. This time I opted for the green, and said as much.
Green for you too.
Sorry, are you claiming that the source of all American slaves weren't slave markets in Africa, which were run by black Africans, and employed black African slavers?
That does not exclude blame from European and American slavers.
But what's that have to do with me?
Blaming slavery and "racism" for the awful state of blacks in America is nothing but a cop out to glaze over some serious, serious behavioral issues with the black community. Good thing for liberals like you that the prison and judicial system has been brutally handling the "behavioral issues" of blacks since 1865.
So you can maintain your holier than thou attitude but still sleep soundly at night because 30% of the black men in the country are in some stage of the prison system (and it ain't because of racism, it's because of their violent, criminal behavior). Although there are sometimes glitches in the system:
http://archive.frontpagemag.com/readArticle.aspx?ARTID=22371
"In April, Kevin Shifflett, an eight-year-old white boy playing in his great-grandparents’ front yard in Alexandria, VA, was slashed to death by a knife-wielding black man allegedly screaming anti-white epithets."
Keep an eye on your kids, we can't cage up all the animals.
Eh? I don't think anyone was talking to you. Or was that a rhetorical question?
Also, are you really calling ME a liberal? I have to guess that you meant to reply to someone else.
I agree with you that there are many societal problems within the black community, primarily the extremely destructive strain of anti-intellectualism that castigates anyone who tries to get ahead for "acting white". Black people in general are probably the most racist group in America (Trav aside), but the real problem is that they are racist against themselves.
In short, they value societal norms over individual good. This is a recipe for disaster in ANY community, whether it be black, native American or middle-age European.
Also, don't cite anecdotal evidence like that. I could bring out a thousand white-on-black murder anecdotes, but that isn't helpful. What IS helpful is the recognition of root causes of crime and violence, namely the violation of natural rights, no matter who is violating them or whos rights are being violated.
" I could bring out a thousand white-on-black murder anecdotes..."
Can you? The 1 such example that occurs every 5 years gets national media attention. But "a thousand?" Let's can the hyperbole. I can quite literally get you 1,000 examples of blacks murdering whites per year, every year, for the past 30 years. Can you say the same?
As for the rest, you said something along the lines of, "white slave traders are still to blame." My point was that your statement is irrelevant. It's like saying the ancient Egyptians are guilty for enslaving the Hebrews. Maybe, but unless we're conducting an academic discussion in ancient history, it's irrelevant to modern day Egypt or Israel.
No living person was involved in slavery in America. And for the most part we are 5 generations removed. It is irrelevant to persons alive today.
yes, history is irrelevant to persons living today.
say that three times
now review your Boomer / Entitlement argument
their brothers? the problem with that theory is that the same criminal cabal that runs the banks also ran the slave trade... a fact that is conveniently left out of history books... same people controlled the opium trade as well, just google the Sassoon family history for details...
So the blame rests SOLELY with the criminal cabal?
Obama's grand ancestors (who profited from selling slaves) were just innocent pawns in the game right?... so they're exonerated?
Is that how it works?
The way I see it... Through cooperation, Obama is simply following along in his ancestors footsteps in the 'slaves for profit' trade...
Who cares about his ancestors? They are all dead. Let's not blame people for the sins of their fathers, and instead blame them for THEIR sins.
I agree. I think Americans have pretty much lost their tolerance for governmental favoritism towards minorities in this day and age. Particularly with a black President in office. That card has just about been played out.
governmental favoritism towards minorities in this day and age
It'll never be fully played out... The 'government' ARE minorities these days (all the way to the top now, as the case would have it)...
Things were SUPPOSED to get better when this was finally achieved (or so you were led to believe)...
Well let me ask you... ARE THINGS BETTER NOW THAN THEY USED TO BE?
Where is Greece's fruit seller?
Farmville!
Can you spare a shovel? There is a country rotting in the sun that needs burying.
.
Black Markets here we come.
Soon Greece will be unpopulated , or in Anarchy.....................
All things physical, possession is the law in Greece and soon to be the world over. Awesome, now we can find out the "value" of everyone's labor. Asking teachers to return funds? Yeah, that makes sense. Ask the military and police to return their salaries too, go ahead I fucking dare you.
"the labor force (which incidentally has shrunk by 1% in the time it took to write this"
That shrinkage corresponds body for body with the increase in people on the disability roles. Many of them use side effects of obesity as causation.
So we have the perverse effect of obesity reducing the labor force and thus unemployment, since the labor force is in that equation.
Get fat; reduce unemployment!
Joy of joys, fiscally, we have people no longer getting paid and thereby paying taxes now drawing disability and taking money out of the gubmint. Double fiscal whammy.
"Get fat; reduce unemployment!", a natural successor to "Buy a couch; fight terrorism!"
Took me a few re-reads to get your two comments. LOL.
You get what you reward, so yes I agree with you. What an interesting trend we've created for ourselves...
Or as the doofus AnAnonymous would say: "Get blobbing up; increase US citizenism!"
'Buy a couch; fight terrorism'. Very funny.
Crash... The "side effects" you'd be talking about -- those that might qualify an obese person for disability -- are on the order of blindness, nephropathy, and congestive heart failure. Stupid fuck.
I think the cash will come with a bit of lead....
Maybe now the people will rise up, though I don't hold out much hope...
LawsofPhysics
Where the fuck is this guy when you need him?
What do you get when you cross Jesse James, Robin Hood, and Jack Bauer in the body of a giant, bearded, bald Greek man?Meet Vassilis Paleokostas:
This crazy, utterly fearless dude is public enemy number one in Greece, and probably one of the most badass motherfuckers to come from the country since the days of our friend Leonidas.
Vassilis' story starts back in the early 90s, when he went on an insane crime spree of delicious armed robbery, blackmail, extortion, and kidnapping. Basically, his modus operandi was to kidnap a super-rich bastard, hold him for a ridiculous ransom, and then sell him back to his stupid family in exchange for giant piles of cold, hard cash. Then, he'd take that bling, keep a small percentage of it for himself, and distribute the rest of his newly-acquired wealth to impoverished farmers of the tiny rural province in which he grew up. The dude quickly made a name for himself as the Robin Hood of Greece, and was beloved by fans of badassery, the people of the lower classes, and pretty much anybody else he wasn't in the process of robbing or extorting for money. Shit, even the fucking people he kidnapped came out later and said that he was very polite and respectful to them while they were in captivity, and that it was pretty much the most pleasant kidnapping they'd ever experienced. That should give you some indication of what this dude was all about – steal from the rich, give to the poor, make a profit in the process, and be completely awesome all of the goddamned time. He also made a vow never to harm a member of the public in his criminal escapades. He's been true to his word.
In true badass fashion, Vassilis Paleokostas also has a trusty sidekick – a lunatic Albanian named Alket Rizai. Rizai is like the Friar Tuck in this story, only if instead of being a benevolent, staff-swinging priest, the clergyman was a crazy gunman with a hair-trigger and a penchant for firing automatic weapons at heavily-armed tactical police officers. Rizai is currently up on charges for murder, though I haven't really been able to track down any details about any of that (that's the problem with trying to research current events, I suppose). My assumption is that he was being attacked by some evil corrupt officers sent by the Sherriff of Nottingham and responded by burning a full clip of Uzi ammunition into them, jumping through a plate glass window, rescuing a damsel in distress, and swinging off on a chandelier with a hot babe clinging to his rippling biceps. According to a Greek friend of mine, this guy once blew up a known Mafia hangout by shooting it with a fucking rocket launcher.
Of course, the downside to being a career criminal – even a happy-go-lucky one who commits non-violent crimes in the name of the oppressed populace – is that eventually the long arm of the law is going to bitch-slap you in the fucking face really really hard. In 1995, Vassilis Paleokostas was caught by the fuzz, convicted of kidnapping, robbery, and weapons charges, and hauled off to a federal pound-me-in-the-ass penitentiary known as Korydallos Prison.
Now over the years, Korydallos Prison has gained a reputation as being one of the harshest and most brutal prisons in Greece. This place is like a mix between Andersonville, Oz, and that stupid plastic box they keep Magneto inside in the X-Men movies. The warden is a hardass son-of-a-bitch, the guards don't give a shit, and people that go inside the facility never come out.
Except Vassilis Paleokostas.
In June 2006, Paleokostas' older brother (another pathological criminal who is now serving jail time on 16 counts of armed robbery) commandeered a helicopter, and landed it right in the middle of the fucking exercise yard of the prison in broad daylight. The armed guards at Korydallos, not expecting to be subjected to such an unbelievable display of gigantic steel-plated testicles, assumed that this chopper belonged to the warden or the Chief of Prisons or something, and instead of investigating it they all decided to make sure their shoes were appropriately spit-shined so as not to incur a citation from their wrathful bosses. Vassilis (who had orchestrated the entire operation from the beginning) and his Albanian buddy simply walked up to the helicopter, hopped inside, and lifted off. By the time the guards got their heads out of their asses and started firing their guns at the bird, it was already too late. Paleokostas had escaped.
So the Greek police put out an all-points bulletin, and a nation-wide manhunt began for the Greek Robin Hood. Officers, dogs, and federal agents scoured the countryside for this fugitive day and night, relentlessly following leads and doing everything in their power to bring this wanted criminal to justice.
Paleokostas evaded them for two and a half years. He lived in the mountains outside Athens, evaded all attempts to recapture him, and even orchestrated another high-profile kidnapping in the process – snatching a powerful jackass CEO industrialist, ransoming him for a huge wad of cash, and once again distributing the loot to local farmers and families. There are also rumors that he planned and executed another kidnapping while he was still incarcerated, which is bonus points no matter how you look at it.
In August 2008, Paleokostas was tracked down and re-captured by the Greek police. He was placed in a different maximum security facility, where he was held for another six months, awaiting trial for his brazen escape in 2006. On 21 February 2009, Vassilis Paleokostas was transferred back to his old home – Korydallos Prison. His trial was to begin on the 23rd, and he was to stay in his former holding area while he stood trial for this crime.
But he never made it to trial. The very next day, 22 February, ANOTHER FUCKING HELICOPTER showed up in the skies above Korydallos Prison. It flew over a large tower of the prison, lowered a long rope ladder, and Vassilis Paleokostas and Alket Rizai climbed up into the chopper. As the helicopter flew off into the sunset, the prisoners of Korydallos cheered.
Greek police opened fire on the chopper as it flew off, but a woman returned fire with an AK-47 assault rifle. Now having hot Greek babes with automatic weapons come save your ass from prison isn't the sort of thing that happens to normal people every day, but that's just how things work out for you when you're a badass like Vassilis Paleokostas.
The police eventually tracked down the helicopter, and found that it had ditched on the side of the road outside Athens with a bullet hole in the gas tank. According to the pilot, Paleokostas and his associates left the chopper and drove off on totally sweet motorcycles to an undisclosed location. They also popped some totally bitchin' wheelies while doing so.
Vassilis not only earned his freedom for the second time, and once again showed the world that his ballsack is roughly the size of a small continent, but he also got some sweet delicious revenge on the motherfuckers in charge of the Greek prison system at the same time. For allowing the same guy to escape the same prison in the same manner twice in a row, the Greek government fired the country's Chief of Prisons, the Inspector-General of Prisons, the warden of Korydallos, and three guards at the facility. They all learned what it means to step to somebody as awesome as the Greek Robin Hood.
Vassilis Paleokostas is fully rad because he kicked ass, won the respect of the people, said "fuck you" to the police, and managed to single-handedly place the country's three top-ranking prison officials in the back of the unemployment line.
He is still at large.
Do you write for a living? 'Cause if you do, I will buy every book you've ever written. And why isn't there a Vassilis Paleokostas screenplay on the desk of some faggot Hollywood producer now?
No, he does copy and paste without giving proper credit:
Badassoftheweek.com
Enjoy
f'in a right...
Hollywood is the first thing I thought of... This dude needs a shrine!
Not much of a reader, are you, Uchtdorf?
Why does liking the style of one particular writer eliminate the possibility that I like books/articles of other genres?
Why does liking the style of one particular writer eliminate the possibility that I like books/articles of other genres?
That's a great story. I thought you were full of shit until I looked it up.
Vassilis Paleokostas 2012
bumper stickers will be issued
You really should cite http://www.badassoftheweek.com/paleokostas.html for that.
Thanks for showing me a new site!
holy shite. don't let my boss see this post.
Umm, your boss has a boss. Earn brownie points now by showing this info to your boss and then conspiring with him to not show da big boss-man.
Will the Greek government be supplying the KY jelly or will it be a bring your own party?
The Greek lube of choice for the next 10 years is simple olive oil.
BYOKYJ of course...
Cause you're gonna get fucked in the ass and you're gonna like it.
You want work here? YOU pay ME, see?
May this catastrophe revive primitive first century Christianity in Greece... it is as far as I am concerned their only hope of survival, racially and otherwise.
They've got to hit rock-bottom first.
True, like the rest of us.
I am getting negatives for the above comment, because some characters are scared shitless of true Christianity, and believe me, they should be scared.
Well I am all for Christianity, but first I think the sheeple need to rise up and throw their f%^&ing pols into the Med....then they can live a peaceful Christian life...
Exactly!
The question continues to be wheather Europe banks are ready for Greece default (so that Germany refuse to give more funds), or if the people of Greece will ruin the parliament and take down the politians (because of the austerity). I don't know what will happen first but I believe that either one will happen this year.
Negative Salary = My Childhood wasted behind the push lawnmower...and one time I had to pay for my own gas...that was almost a quarter.
It sounds like it's time for something a little more drastic than molotov cocktails.
flaming cheese!
That's no big deal ... with the US Tax system I work for about 4 months for free every year ...
and 49.5% pay no Federal income tax at all.....what a wonderful country we live in...BHO is proposing raising the tax on dividends to 44%.....We're all screwed...pass the olive oil
oh please, if you make enough from dividends that taxes on them are a problem, you are far far far from fucked.
What about those that had the foresight to tuck away and tuck away, and based their retirement decisions in part on income-producing securities? Why should they get penalized for working hard and being disciplined?
so yeah, because you USED to have a nice income, the gov't is cool to gank you and leave you with a fraction of it. Not a problem.
Bc "everyone" who lives on dividends has money to throw away on diversity programs for gov't employees.d
And of course the lenders of the next bailout are allowed to seize Greece's gold. Enslave the population, then steal their only potential tool if they were to leave the euro banker prison.
http://www.nytimes.com/2012/02/22/world/europe/euro-zone-leaders-agree-on-new-greek-bailout.html?_r=1
""Ms. Katseli, an economist who was labor minister in the government of George Papandreou until she left in a cabinet reshuffle last June, was also upset that Greece’s lenders will have the right to seize the gold reserves in the Bank of Greece under the terms of the new deal""
THEY HAVE TO FIND IT FIRST.
Now, now, that is a gross exaggeration - what about all the time spent on ZeroHedge?
"what about all the time spent on ZeroHedge?"
That's good productive time. We are making a significant contribution to society.
Zerohedge is work, the rest is goldbricking
lipservice
Obama's 44% dividend tax should make things interesting in the market:
http://online.wsj.com/article/SB10001424052970204880404577225493025537660.html?mod=WSJ_hp_LEFTTopStories
the markets will soar on the tax breaks .. so the rich will pay now 28% instead of 35%
K - I - L - L YOUR FUCKING LANDLORDS GREEKS!!!!
what the hell man...................................
Even slaves don't have to Pay To Work. It's Obtuse. Greek Algebra is the best.
Coming soon to an employer near you.
"Look Bob, I know that giving up your salary doesn't sound fair, but it's either that or lay you off. And you know that the unemployed are typically not considered viable candidates for other job openings. So by making, er, letting you work without pay we're actually improving your marketability!
Feel better? Good. Now get back to work, bitch."
Global Debt Crisis
The greatest private fraud of human history.
Who are the great fraudsters who are becoming the murderers of the human kind? How does the economy "illness" threaten Democracy and the freedom of people?
http://eamb-ydrohoos.blogspot.com/2012/01/global-debt-crisis.html
---------------------------------
By knowing what happened in indebted Greece, where loan sharks created “bubbles” and the current inhuman debt, one can understand the inhuman plan in total ...understand where this plan started just to bring all states at the same end ...understand how this type of plans are established...
http://www.zerohedge.com/article/how-financial-oligarchy-replaces-democracy
Don't really understand how they hope to get away with that? I hope they shut that motherfucker down. Those politicians need to be dragged out into the streets and have their fucking heads cut off.
Please tell us how U really feel. lol
You'll work harder with a gun at your back for a bowl of rice a day......
Sounds like Foxconn
+ like a million for the DK reference....word!
'Fresh fruit for rotting vegetables'
I still have that on vinyl somewhere. I need to dig it up and listen to it again.
"God told me to skin you alive"
...The law don't mean shit if you've got the right friends
That's how this country's run
Twinkies are the best friend I ever had
I fought the law and I won...
- Holiday in Cambodia - DK
How I miss 'em. And hope.
Serfdom
This is cool. Get a job, go into debt.
repeat after me u Greek debt slaves....
ICELAND!!! ICELAND!!! ICELAND!!!
Oof...
http://www.spiegel.de/international/europe/0,1518,816410,00.html
SPIEGEL ONLINE: The finance ministers of the euro zone want to approve a new bailout for Greece this Monday. Can the additional €130 billion ($172 billion) save Greece?
Sinn: No, and the politicians know it can't. They want to gain time until the next election. I think we're wasting time by doing this.
SPIEGEL ONLINE: Why?
Sinn: Because Greece's external debt is rising with every year that passes until it leaves the currency union. We're getting ever further away from solving the problem. The basic problem is that Greece isn't competitive. The cheap loans that the euro brought the country artificially raised prices and wages -- and the country has to come back down from this high level.
SPIEGEL ONLINE: So the euro countries shouldn't approve the aid?
Sinn: They should give them the money to ease their exit from the currency union. The Greek government could use the money to nationalize the country's banks and prevent the state from collapsing. The state and the banks must continue to function through all the turmoil that an exit will entail.
SPIEGEL ONLINE: This turmoil would hit the population hard.
Sinn: Yes, undeniably. But the turmoil would only be temporary, it would last one to two years perhaps. This time would have to be bridged with the financial aid from the international community. But the drachma will immediately depreciate and the situation will stabilize very quickly. After a short thunderstorm, the sun will shine again.
SPIEGEL ONLINE: How would a euro exit help Greece in concrete terms?
Sinn: It would become competitive again. Because Greek products would rapidly become cheaper, demand would be redirected from imports towards domestically produced goods. The Greeks would no longer buy their tomatoes and olive oil from Holland or Italy but from their own farmers. And tourists for whom Greece has been too expensive in recent years would return. In addition, new capital would flow into the country. The rich Greeks who deposited so many billions, possibly hundreds of billions of euros, in Switzerland would see the falling property prices and wages and would have an incentive to start investing in their own country again.
SPIEGEL ONLINE: Does the exit from the euro zone entail Greece going bankrupt?
Sinn: No, quite the reverse. The bankruptcy forces the exit. The Greeks will immediately leave if they don't get any more international aid because the bankruptcy couldn't be managed within the euro system. The state would be insolvent and the banking system too. The entire payments system would fall apart. The chaos can only be avoided if Greece leaves and the currency depreciates immediately.
SPIEGEL ONLINE: Does that mean Greece should be forced to leave?
Sinn: No, no one should force anyone. But at the same time Greece doesn't have the right to receive permanent assistance from the other euro countries, and Greece's creditors aren't entitled to have the debt repaid by the international community. Everyone has to earn their standard of living themselves, and those who choose to earn money from risk must bear that risk.
SPIEGEL ONLINE: If Greece were to exit the euro zone, would the tough austerity measures still be necessary?
Sinn: In this case, savings really only refer to a reduction in debt growth. The economist only refers to savings if debt is actually repaid. Greece is nowhere near doing that. But it's true that Greece has gotten used to the flow of cheap credit from abroad, and that it's politically impossible to cut wages to the extent needed to make the country competitive.
SPIEGEL ONLINE: By how much would wages have to be cut?
Sinn: Greek products must become 30 percent cheaper in order to be on a par with Turkey. You can only achieve that through a euro exit and depreciation. Without depreciation, millions of price lists and wage contracts would have to be rewritten. That would radicalize the trade unions and push the country to the brink of civil war. In addition, companies would go bankrupt because their assets would shrink while their bank debts would remain unchanged. You can only reduce the bank debt through depreciation. The plan to radically restructure Greece within the euro is illusory.
SPIEGEL ONLINE: Why are the euro-zone countries so adamant that Greece must remain in the currency?
Sinn: This isn't really about the country. The Greeks are being held hostage by the banks and financial institutions on Wall Street, in London and Paris who want to make sure that money keeps on flowing from government bailout packages -- not to Greece, but into their coffers.
SPIEGEL ONLINE: What about the contagion that a bankruptcy or a Greek exit would involve? Financial markets may speculate that other countries will suffer a similar fate as Greece.
Sinn: There may be contagion effects. But I think this argument is being instrumentalized by people who are worried about losing money. People keep on saying "the world will end if you Germans stop paying." In truth only the asset portfolios of some investors will suffer.
Wouldn't the Keynesian s view this as a sort of 'multiplier effect'? Should work wonders for boosting 'productivity'.
So these contract workers will have a clawback. Why can't have the banksters have a clawback? Especially since most of their money in recent years comes from cheap money from the federal reserve.
I have in my hands ne New LAw to be passed today/tomorrow, with regards to PSI...
66% CAC's !!
66% CAC's BY LAW !! BY LAW... is voluntary aw HELL, 25 days before the dead line of PSI ( approx March 15 )
66% CAC"s by law... is "FAIR" to 75% CACs English Law Bondholders, also to 82% Greek Law bond holders- with no CAC clauses... !
ISDA will be busy tomorrow ! heil Ackerman
unfortynately its is all in Greek.
For any Greek speaking freinds please feel free to read here :
page 18, paragraph 4, ( 2/3 )
http://www.scribd.com/doc/82432774/%CE%A3%CE%A7%CE%95%CE%94%CE%99%CE%9F-...
PP
Where the fuck is SPARTACUS!?!?!?!
In Switzerland putting his gold into a hotel safety deposit box.
I have to set up a company in Greece and hire a lot of staff... I will be rich!!!!!!!
HeHeHe.
Greek labor has now officially moved into permanent backwardation.............still awaiting gold's move.
It's similar to people paying for the privalege of loaning money to the US government because of the negative real interest rates.
TheSilverJournal.com
TVIX has stopped issuing shares and there's a shortage.
Link Please
Hilarious article. Could you imagine the reaction from greedy Democratic Public Employee Unions if this were proposed as a solution to various state insolvency?
Yeah, if the jackasses here get this idea, let them try it out on their own first.
"But down there in the small print of the Greek deal lies the nasty side for Greece. There lies a heavy penalty clause; Greece's lenders will have the right to seize the gold reserves in the Bank of Greece under the terms of the new deal. Greece has 111 tonnes of gold. In other words Greece has given up on its "money in extremis", gold. If they default they will have nowhere else to go. Its international assets will be seized and it will not be able to trade internationally at all."
http://goldsilver.com/news/another-phase-in-the-greek-tragedy-it-could-l...
Not that I don't trust you KS, but can anyone verify this gold seizure clause??
Only the New York Times:
http://www.nytimes.com/2012/02/22/world/europe/euro-zone-leaders-agree-o...
Well this should lead to a sustainable recovery.
What genius! Greece can pay off its debt if their citizens pay for the privilage of keeping their job. It can be like a country club only much, much less fun.
Watch this whole thing about Greece is to fleece the Greek people and sell of the Greek Energy and Gas companies.
Ever heard of the Leviathan gas and oil find? Eruope needs this energy. Nuclear is out - Natural gas plants are in.
The soon to be Greek Corporataocracy and Isralis will be fucking the Turks out of their share of the gas. Pipline through Cyprus - money flowing into the coffers of vultures that will gobble up everything Greek when the bottom falls out.
Remember Homs? Guess what flows throught that city - Natural Gas pipelines. Cut them off. It opens up the need for the Leviathan gas find. It all fits together so nicely.
Once again - all about Energy.
Remember Rhodesia!
Well I guess we now know how "deposits" are going to be increased?
Just make room for 64k more Greeks in the square.
pods
Now we know why employers are checking credit scores before they hire new people - to make sure they can afford to pay for the privilege to work.
Those Greek slobs didn't want to work when they were getting paid. What makes these idiots think they will pay to play?
Fuck Greece already!
The Greeks are putting up with this BULLSHIT because the dumb fuckers believe the cushy lifestyle they have been accustomed to is right around the corner waiting for them after this "temporary" crisis. Once they realize there's no going back, they will choose freedom and destitution instead of bondage and destitution (if they have any logic at all).
An entire country depending on normalcy bias to bring back the good old days, sounds like the US..
If you have to pay to work, then increasing unemployment would become a good thing.
I call dibs on the Parthenon!
Man, I'd be like, "Honey, we're moving out. We're leaving. Iceland's not this cold."
This is not that bad, they could all get fired. But instead of looking for work for a month, and paying a job finder service, they avoid the interview process and next month have a job! At a lot lower pay.
This is surely... BULLISH, BITCHEZ!
Yes, that's what the bankers want is Greece's gold. Get physical.
"This business will get out of control. It will get out of control and we'll be lucky to live through it." - Admiral Josh Painter, The Hunt for Red October.
There has been no century in recorded human history where a major war did not start in the first 20 years. Period.
So if you quit before you're scheduled to pay up, are you liable for back taxes?
A few weeks ago This American Life had a show on the whole Euro/Greek debacle.
http://www.thisamericanlife.org/radio-archives/episode/455/continental-b...
They interviewed this one woman who hadn't been paid in months, but was sure that they would eventually pay her the wages she hadn't been getting. It was prettys sad.
I hope the greeks get some aquaponics systems set up soon.
what...the...fuck...?
I've already paid a little less than 3K so far this year, so that I could work. Oh, those are taxes. You mean the Gubmint confiscates the fruits of my labor and then decides how much of that they will let me, the serf, keep. That sounds familiar.
http://www.youtube.com/watch?v=WLrrBs8JBQo
And the pessimistic scenerio for 2013 GDP was -1%
LMAO.
I will take civil war for $1000 alex.
It seems fair enough to me.
I can play solitare at home for free. If you want me to do it in your office building, you'll have to pony up the dough. What a ridiculous suggestion, Tyler.
I like this. It solves two major problem:
unemployment and inlfation. I wondered why Bernanke didn't try this.
I wondered why Bernanke didn't try this.
I think this one's in Timmay's court. And for him, there's still plenty of pensions and 401(k)s to garnish first.
'Escape from Athens' starring Kurt Russell coming to theatre near you.
Isn't kurt russell dead?
Maybe it was kurt cobain...
unfuckingbelieveable...
this is what happens when your soulless, sociopath politicians sell your country out to the equally soulless and conscious free banksters...
you have to pay back money you have already earned for a debt that's not yours to begin with.
just when you think you have seen it all and things couldn't possibly get any more surreal, there it is , the first real world, live action taste of what the NWO really is, eternal debt slavery.
well, here's hoping the Greeks find the spartan in themselves soon...
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.
How do I got blood from stone?
¯\(°_o)/¯
YOU just need to look for a very special stone so-called BLOOD STONE!!! Its color is bloody red.
Remember it's an extreme rarity so it won't be anyway easy.
This is exciting - living in such an age of enlightenment!!
http://www.youtube.com/watch?v=I5QwKEwo4Bc
Not even slave owners would have made the Black Slaves pay to work the cotton fields.....They know that would be wrong
Way to incite ZH readers with mindless dribble. This will never happen.
With bankers in charge Fractional Reserve Employment was inevitable.
Nigel Farage, KWN:
“I want to just share... the state of things in Greece. We have 50% unemployment amongst young people in Greece. 25% of all commercial companies have gone bankrupt in Greece in the last four years. We have now thousands of people in Athens literally sleeping in cardboard boxes in the streets. We have families giving up their kids for adoption because they feel they (the children) would be better off if someone else looked after them because they simply can’t feed them.
During the Great Depression of the 1930s... British economy contracted by 10%.
Greece has now been through five years of recession. The economy has contracted by 14% already, but towards the end of 2011 the decline accelerated and the projection is now that the Greek economy will decline by a further 7% this year. This will take us to an over 20% decline in six years."
Loan sharks knew that if they took the dollars printing machines under their control they could suffocate the world ...they could initially suffocate USA and after taking the USA from the Americans, they could move and suffocate the whole world and take the countries from their people.
FED printed cheap money and loansharking multiplied this money in an unnatural way within the American economy boarders and they discarded them abroad so that they did not threaten USA. USA became the first state in the world with artificial “breathing”...
It cannot be possible but just in the USA for only the last year, more than one million houses were seized. It cannot be impossible but the New World has returned to tents and shelters ..has returned to the ages of Columbus. It cannot be possible that we allow to a few loan sharks looting the toils and the assets of people...
http://eamb-ydrohoos.blogspot.com/2012/01/global-debt-crisis.html
------------------------
...Nice
I just remembered a little irony in the upside down world of Greek employment... If I´m not mistaken, some public sector Greeks have jobs that pay them for a 14 month year!
Which is to say, they are now either getting some clawbacks on this or the Greeks are blessed to live about 18% longer than the rest of us. Either way, their economic life expectancy just got shortened. Men make plans and God just belly laughs!