Greece

It's all non-existent money technically, and it's all based on the potential total assets a creditor has I'm thinking. (Calculated with GDP and so forth)

Also they really don't care if you can't repay the full loan as long as you can pay the MINIMUMS on each deadline. Just like with your credit card. They'd rather you don't repay the full loan actually so they can keep raping you with interest.
 


So it's basically just people passing around a bunch of IOUs that nobody intends to make good on?

Well, that's reassuring.
 
And this trillions of dollars worth of IOUs that are being handed around actually enter the money supply, devaluing our own money, right?

Well, now that's some serious high grade bullshit there.
 
Inflation is theft, i.e., counterfeiting. Under a gold standard, prices would gradually go down each year. You could stuff some gold coins in your mattress, pull them out years later, and buy more than you could have 10 years earlier.

Nowadays, if you do that with paper money you'll be screwed.

What's particularly nasty about inflation is that you could buy something for say $10k one year and then sell it 10 years later for $20k. You will be taxed on the price appreciation, even though most or all of it was due simply to money devaluation.
 
Looks like they're going for the No vote.

Bloody hell, what a mess. It's going to be two generations before they dig themselves out.
 
so the appendix of the union decides whether it wants to be surgically removed or necrotize and wither away slowly on its own terms.

why would anyone care?

hint: think about what happens to the body when the appendix isnt removed properly.
 
Who knows, could turn out to be a good thing. Could be a wake up call to Portugal, Spain and Italy... "get your books together, or here's what happens" type of thing.

Time will tell.
 
itt: Kiopa really doesnt want to accept that whats being printed in the mass media isnt the absolute truth of whats going down here.
 
Who knows, could turn out to be a good thing. Could be a wake up call to Portugal, Spain and Italy... "get your books together, or here's what happens" type of thing.

Time will tell.

If Spain or Italy leave the EZ = game over for the Euro and EU. It won't be allowed to happen. Same reason it's taken this long (so, so sad) to reach the only logical conclusion for Greece. I know fuck all about economics but the writing was already on the wall in 2010. Now, Nai or oxi, they're fucked either way. We think we had a lost generation here.... welp.... lol :/ #cudb18inathens

Yes the Greeks are lazy peasants. No shit. Accusing them of having their cake and eating it though is just lazy. Living in a glass house and throwing stones. We've ALL been investing in QE / nationalising bad debt Vs investing in tangible infrastructure. We'll get ours in due course. (BTW. I ain't a Keynesian either.)

They have to go flat out, balls to the wall, and create a positive business environment for the private sector NOW regardless of whether they stay in the EZ or revert to drachma. It's the only way forward.

[ame]www.youtube.com/watch?v=fm0ib07CNEs[/ame]


EDIT: <3 u Greece. Good luck.
 
This is what happens when Governments believe their own bullshit and end up thinking that they are the ones that run a country versus being middle management.
 
Europe looks to be entering intermediate term stagnation (due to the PIIGS and even France and others).

Brazil is dealing with their own troubles.

Russia's future is questionable.

China is slowing, though still going strong.

The US is growing

India is booming.

Japan is dealing with huge debts.

Seems power is shifting southeast of the current center.
 
Grease_006Pyxurz.jpg
 
greeks make Irish look great in comparison, they're delusional on another level. Ireland could be in trouble with the next crisis, we've much higher public debt per capita. what saves us is the multinationals, i'd guess about 75% of my college friends work for US companies in Ireland. and let's be honest, they're only here to dodge tax. if EU somehow stamps this out and multinationals start leaving, we're in serious trouble
 
Europe looks to be entering intermediate term stagnation (due to the PIIGS and even France and others).

Brazil is dealing with their own troubles.

Russia's future is questionable.

China is slowing, though still going strong.

The US is growing

India is booming.

Japan is dealing with huge debts.

Seems power is shifting southeast of the current center.

If Germany joins and it becomes BRIGCS, its game over.
bricsmap-e1424450584702.jpg


De-dollarization continues:
china-watch-map_3281019b.jpg


Interlinking more connections:
sco_500.jpg
 
As an American, I fear when our bill collectors will come knocking at the door.

That's only really a possibility if the central bank wants it to happen. Otherwise, the U.S. is basically free to continue borrowing massive amounts of money and issuing enough to pay the interest on it as required.

Even if the whole economy goes tits up, the U.S. has control over its own currency and can just start over.

Greece cannot do this, because they made the mistake of giving up control of their own currency to the ECB, which is now fucking them in the ass without mercy.