CoreBB

[VaultNetwork.net] Vault Network Boards » Archive » Outpost » What is the lesson of the Eurozone crisis?

Author	Topic: What is the lesson of the Eurozone crisis? [Locked]
NuEM Posts: 1,007 Registered: 2004-3-2 09:08:11	Date Posted: 1/1/00 12:00am Subject: What is the lesson of the Eurozone crisis?
	That you can't have a financial union without also having a political, economical and social union. -----signature----- It's time we became European: http://www.youtube.com/watch?v=6VzdZ1i8YM8 The Federalist's Song: http://www.youtube.com/watch?v=lz70fFZHEhw
illmyrin Posts: 705 Registered: 2001-12-25 11:52:26	Date Posted: 1/1/00 12:00am Subject: What is the lesson of the Eurozone crisis?
	"There will be a global, engineered, economic collapse used to bring in a one world currency and one world government." Illmyrin, 2002 The Economy Is Great Land. -----signature----- Hold up your opinions and I'll tell you which one is my favorit.
Friarspam Posts: 638 Registered: 2007-1-23 07:01:27	Date Posted: 1/1/00 12:00am Subject: What is the lesson of the Eurozone crisis?
	Here is a great example of why the US is in deep crap that a friend sent me. * U.S. Tax revenue: $2,170,000,000,000 * Fed budget: $3,820,000,000,000 * New debt: $ 1,650,000,000,000 * National debt: $14,271,000,000,000 * Recent budget cuts: $ 38,500,000,000 It's hard to keep track of all those zeros, so let's remove 8 of them and pretend it's a household budget: * Annual family income: $21,700 * Money the family spent: $38,200 * New debt on the credit card: $16,500 * Outstanding balance on the credit card: $142,710 * Total budget cuts: $385.. (Doesn't even come close to covering the interest on the debt of $5,000+.) Now, can someone tell me how doing the same old stuff is viable? -----signature----- My folks went on vacation and all I got was this lousy sig.
Ptilk Title: Creepy old pirate Posts: 2,359 Registered: 2002-2-13 14:52:58	Date Posted: 1/1/00 12:00am Subject: What is the lesson of the Eurozone crisis?
	Calls for austerity are stupid. Actually going thru with austerity measures is suicidal. Debt isn't the problem, listening to the idiots who loaned you the money you spent is.
Bjorvald Posts: 334 Registered: 2002-4-5 20:51:00	Date Posted: 1/1/00 12:00am Subject: What is the lesson of the Eurozone crisis?
	For me the overriding lesson is that governments will never do the right things and they will always find the most expensive way possible to fail. All while ensuring the maximum possible long-term pain for their people. -----signature----- Bjorvald 9lx healer Blinknone, various toons on classic GANKED AGAIN
Sin_of_Onin Posts: 1,307 Registered: 2005-6-29 08:21:12	Date Posted: 1/1/00 12:00am Subject: What is the lesson of the Eurozone crisis?
	Friarspam posted: Here is a great example of why the US is in deep crap that a friend sent me. * U.S. Tax revenue: $2,170,000,000,000 * Fed budget: $3,820,000,000,000 * New debt: $ 1,650,000,000,000 * National debt: $14,271,000,000,000 * Recent budget cuts: $ 38,500,000,000 It's hard to keep track of all those zeros, so let's remove 8 of them and pretend it's a household budget: * Annual family income: $21,700 * Money the family spent: $38,200 * New debt on the credit card: $16,500 * Outstanding balance on the credit card: $142,710 * Total budget cuts: $385.. (Doesn't even come close to covering the interest on the debt of $5,000+.) Now, can someone tell me how doing the same old stuff is viable? The thing with debt is that if you are borrowing from other Americans then you are crowding out investment and other consumption. If you are borrowing from a foreign nation you are not crowding out that investment but you are proping up short term consumption (and investment) while hurting production. The equation of government debt changes drastically once foreign investment is considered. I think it is pretty clear that Greece is struggling in large part because their consumption was so inflated beyond their production and the economy can't respond and make the correction. -----signature----- "Okay... I'm with you fellas" --Delmar F is for Fake-believe "We apologise for the inconvenience" --God "What Jesus fails to appreciate is that it's the meek who are the problem"--Reg Run, Forrest! Run!
Abaddon_Ambrosius Title: Retired Theurgist TL Posts: 1,674 Registered: 2001-12-21 09:51:39	Date Posted: 1/1/00 12:00am Subject: What is the lesson of the Eurozone crisis?
	Ptilk posted: Calls for austerity are stupid. Actually going thru with austerity measures is suicidal. Debt isn't the problem, listening to the idiots who loaned you the money you spent is. Deficit spending beyond your annual income or ability to repay all outstanding debts within 1-2 years is stupid. Digging a hole of 50... 90... 120% of your GDP is suicidal. Asking others to let you dig the hole EVEN DEEPER is murderously stupid and should be punishable as treason. -----signature----- In the immortal words of Socrates - "I drank what?" "God you guys suck at the internet - how can you fail to locate porn?!" - Eternal_Midnight "Knowing means nothing." - Fat-badger
Koneg Title: Evil Genius Posts: 894 Registered: 2001-12-4 15:31:28	Date Posted: 1/1/00 12:00am Subject: What is the lesson of the Eurozone crisis?
	Sin_of_Onin posted: Meanwhile the problem will likely be blamed on things like social programs which are present in both nations and is a largely immaterial issue to the crisis. Right, because spending way more money then you take in has absolutely no effect on your debt burden. -----signature----- * First rule of a gun fight: Have a gun. \| "Any sufficiently advanced idiocy is indistinguishable from trolling." -- Arthur C Clarke
theredkay1 Posts: 611 Registered: 2008-5-16 10:37:09	Date Posted: 1/1/00 12:00am Subject: What is the lesson of the Eurozone crisis?
	Friarspam posted: It's hard to keep track of all those zeros, so let's remove 8 of them and pretend it's a household budget: * Annual family income: $21,700 * Money the family spent: $38,200 * New debt on the credit card: $16,500 * Outstanding balance on the credit card: $142,710 * Total budget cuts: $385.. (Doesn't even come close to covering the interest on the debt of $5,000+.) Total Assets - $1,800,000 Chance of ever running short of cash - 0% Now, can someone tell me how doing the same old stuff is viable? http://www.federalreserve.gov/releases/z1/Current/ You forgot two important things. The 7 billion people involved in the debt markets dont share your outlook either.
theredkay1 Posts: 611 Registered: 2008-5-16 10:37:09	Date Posted: 1/1/00 12:00am Subject: What is the lesson of the Eurozone crisis?
	Abaddon_Ambrosius posted: Digging a hole of 50... 90... 120% of your GDP is suicidal. The plethora of countries with high debt/GDP ratios and low interest rates should impact your opinion. The actual world just doesnt agree with you.
Pages: 1 \| 2 \| 3 \| 4 \| ... \| 6

[VaultNetwork.net] Vault Network Boards » Archive » Outpost » What is the lesson of the Eurozone crisis?

69 Boards | 434,053 Messages (0 Today)