As Greece goes, so shall Puerto Rico?

Russian help is just Oliver Stone talk. Their economy is shrinking also and with the fall I gas prices they are in no position to help anyone

Russian help is just Oliver Stone talk. Their economy is shrinking also and with the fall I gas prices they are in no position to help anyone Originally Posted by BigLouie

How do you suggest they pay a bill they can not afford to pay?

You do realize that there is risk in lending. If the IMF or the EU accessed that risk improperly, that is their problem.

My guess is Greece will do just fine outside the EU. Fuck, I'm thinking about taking a trip there. Cash will be KING!

I'm really not sure what the big deal is...Their economy isn't much in the way of world affairs. Now China's slow down is a big deal a real big deal ....

I would go with you to Greece. I am betting the girls would be easy and Damn cheap. You are right about China. That's the one that had everyone about to shit their pants

I go back to my post about dealing with the Russians to solve Debt is like going down to the Docks to get a loan from Big Rocco.

Doesn't Greece realize that Russia, just like Big Rocco, always carries a baseball bat on the floorboard to facilitate in collections. Originally Posted by Jackie S

Jackie....just what do you think their current creditors are doing?

Yes, Greece would be a good vacation spot now...if you have cash or a guaranteed way to access your cash.

Still be advised, that if businesses start shutting down that could include cabs, trains, and airports. So be prepared for an adventure...plus some people would know that you have cash on your person.

JD , we all assess risk/reward. I just happen to think the reward outweighs the risk. I could be wrong. I flew the cheap fares right after 9/11. When i see what i perceive as unwarranted fear...i try and take advantage. Kinda like Bush also did after 9/11 by talking us into War. He cashed in on your unwarranted fears...

Yes, Greece would be a good vacation spot now...if you have cash or a guaranteed way to access your cash.

Still be advised, that if businesses start shutting down that could include cabs, trains, and airports. So be prepared for an adventure...plus some people would know that you have cash on your person. Originally Posted by JD Barleycorn

Stick to checking your 401k daily, you're out of your depth, shitdick.

How do you suggest they pay a bill they can not afford to pay?

You do realize that there is risk in lending. If the IMF or the EU accessed that risk improperly, that is their problem.

My guess is Greece will do just fine outside the EU. Fuck, I'm thinking about taking a trip there. Cash will be KING!

I'm really not sure what the big deal is...Their economy isn't much in the way of world affairs. Now China's slow down is a big deal a real big deal .... Originally Posted by WTF

Fuck China and Fuck the Greeks. If they don't have the money to fucking pay up they need to work long hours and sell shit. Ironically, the US should print the money to buy their shit, we could then sell the tickets to the Parthenon, all the other temples, etc.

Stick to checking your 401k daily, you're out of your depth, shitdick. Originally Posted by WombRaider

Another lie is born on this very spot.

In 1953, Hermann Josef Abs, center, signed an agreement that effectively cut West Germany's post-World War II debt in half. Credit Associated Press

http://www.nytimes.com/2015/07/08/bu...e&pgtype=Blogs



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In 1953, Hermann Josef Abs, center, signed an agreement that effectively cut West Germany's post-World War II debt in half. Credit Associated Press

http://www.nytimes.com/2015/07/08/bu...e&pgtype=Blogs

. Originally Posted by WTF

Were they paying East Germany's half too? Makes sense to cut it if they were, since I doubt the Communist half was paying anything.

Also, war debt (reparations really) is an entirely different thing than borrowing more than you can afford to pay back.

I don't think Germany is going to start another war because their war debt was reduced.

Can't say the same thing about Greece. Their debt has been restructured at least twice in the last decade. Didn't help did it?

Were they paying East Germany's half too? Makes sense to cut it if they were, since I doubt the Communist half was paying anything. Originally Posted by ExNYer

Why would East Germany pay anything to Western countries?

Also, war debt (reparations really) is an entirely different thing than borrowing more than you can afford to pay back.

? Originally Posted by ExNYer

Please explain the difference in math terms. How one debt is different than another.

I don't think Germany is going to start another war because their war debt was reduced.

Can't say the same thing about Greece. Their debt has been restructured at least twice in the last decade. Didn't help did it? Originally Posted by ExNYer

Germany started WWII because of war debt. Greece is not going to start a war but they may start a movement to exit the EU. That is wtf the EU is worried about.

There is a story out today that the PM of Greece expected a Yes vote so he could go ahead and accept terms. When the vote came back No he was fucked as he did not have a plan for that. Greece high ups are in full panic according to story

There is a story out today that the PM of Greece expected a Yes vote so he could go ahead and accept terms. When the vote came back No he was fucked as he did not have a plan for that. Greece high ups are in full panic according to story Originally Posted by BigLouie

But all of those celebrators waving their flags and shouting "we won, we won", don't seem concerned in the least.

It's like you seeing someone driving a car straight toward a cliff, and you screaming for them to stop, but they shoot you the finger.

The voters have spoken.

It's no different here. Voters keep electing the Demagogues and Panderers, because they promise something for nothing.

Why would East Germany pay anything to Western countries? Originally Posted by WTF

Why wouldn't it? Didn't Germans in the East kill Western Europeans, too?

Please explain the difference in math terms. How one debt is different than another. Originally Posted by WTF

It's not a math explanation that is needed.

It is a policy explanation. If you keep loaning money to a deadbeat with no strings attached, they will not change their behavior.

Germany WWII debt wasn't borrowed, it was assessed as a penalty for war making. When the other western countries realized that their new ally, West Germany, was struggling to stay afloat, it made sense to cut it to keep them allied to the West and out of the Soviet orbit. It wasn't like they were going to go to war again because debt relief suddenly made war more attractive.

Debt relief to a deadbeat does encourage more bad behavior.