Why is a Greek default a big deal?

Discussion in 'Economics' started by noob_trad3r, May 15, 2012.

  1. piezoe

    piezoe

    That is, indeed, clever. And a shrewd move on their part.
     
    #41     May 16, 2012
  2. zdreg

    zdreg

    or pebble beach california.
    they learned from japan's mistakes.
     
    #42     May 16, 2012
  3. jem

    jem

    The financial lie of debt financing is up.
    Its time to rewrite the book.

    The U.S. needs to end this idea of debt financing and just make one big print... retire our debt at once and never issue another bond.

    That should go a long way to balancing our budget.
    End some wars, pull in the troops and cut every salary and govt budget by 3% a year til we balance.

    Why is this so hard to envision? Because we have bought into this debt financing crap.

    If greece dropped out of the Euro that would be like their big print.

    If they then balanced their budget they would be better off.

    The whole issue is that Govts are not living on balanced budgets...


    Guess what its all relative... if everyone balances their govt budgets and deflates together, we all revert to our proper standards of living. The only ones screwed are the people making money off the debt.

    After that... it will be back to the competition. Those govt which do not overspend and over tax will experience real growth.
     
    #43     May 16, 2012
  4. piezoe

    piezoe

    Jem, you continue to amaze and astound. :D :D :D
     
    #44     May 16, 2012
  5. Greece will be better off once the go back to the Drachma. It will make the country inexpensive for tourists.

    Greece produces nothing,has no natural resources it can leverage and the only thing that they can offer is tourism.

    If you make tourism cheap and affordable again, they will see lots of Gringos throwing money around and the economy of Greece can get back to what it should be, servicing tourists.
     
    #45     May 16, 2012
  6. syrre

    syrre

    because many others will try to follow. there are several nations in worse shape.
     
    #46     May 16, 2012
  7. zdreg

    zdreg

    i have never heard of chinese refer to as gringos
     
    #47     May 16, 2012
  8. ammo

    ammo

    the loans are in monopoly money,printed fiat currency,greece leaves, prints out 100 billion drachma and sends half of them to the ecb,problem solved
     
    #48     May 16, 2012
  9. The Yuan is not difficult, its impossible. It's printed by a government that is not accountable to anyone and can change the rules of the game (at least internally) any time it chooses.
    Its a very rigged game today!
     
    #49     May 16, 2012

  10. Pebble Beach would be a steal at 750 Million!
    Bwahahahahahah
     
    #50     May 16, 2012