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Greece has run out of OPM
| July 6th, 2015 at 4:01:38 PM permalink | |
| Evenbob Member since: Oct 24, 2012 Threads: 146 Posts: 25011 | George Will said it best. Greece are euro-beggars. They never had any intention of paying their debt, and they still want more loans that they have no intention of paying back. He says nobody will bail them out because it would send a bad message to other euro countries. In about a week they are royally screwed. Nobody cares, Greece is 2% of the euro economy. If you take a risk, you may lose. If you never take a risk, you will always lose. |
| July 6th, 2015 at 4:20:10 PM permalink | |
| Wizard Administrator Member since: Oct 23, 2012 Threads: 239 Posts: 6095 | I personally hope Greece defaults, nobody bails them out, and let the pieces fall where they may. I'm sick of just kicking the can down the road. To help put this in perspective, here is the ratio of debt to GDP by country: Japan: 226.1% Greece: 161.3% Italy: 126.1% UK: 90.0% France: 89.9% Spain: 85.3% Germany: 79.9% United States: 72.5% Source: https://en.wikipedia.org/wiki/List_of_countries_by_public_debt. I had no idea Japan was so high. I thought they were a saving nation, as we owe them much of our foreign debt. Can somebody (i.e. Paco) explain it? It seems everybody is in debt but are we all just borrowing money from each other? Knowledge is Good -- Emil Faber |
| July 6th, 2015 at 4:41:09 PM permalink | |
| kenarman Member since: Oct 24, 2012 Threads: 14 Posts: 4515 | I agree Wiz it is time to let it play out. The consequences are likely to be serious no matter how it plays out. Think Russia being Greece's new best friend. "but if you make yourselves sheep, the wolves will eat you." Benjamin Franklin |
| July 6th, 2015 at 4:47:31 PM permalink | |
| Wizard Administrator Member since: Oct 23, 2012 Threads: 239 Posts: 6095 |
Russia had a chance to bail out Cyprus, but I guess the cost was too great so they walked. If they want to come to the aid of Greece, go ahead. If I lived in Russia, I would want no part Greece's problems. Knowledge is Good -- Emil Faber |
| July 6th, 2015 at 4:52:47 PM permalink | |
| Face Member since: Oct 24, 2012 Threads: 61 Posts: 3941 |
Smite those who oppose me. What else? =) Be bold and risk defeat, or be cautious and encourage it. |
| July 6th, 2015 at 5:08:01 PM permalink | |
| Nareed Member since: Oct 24, 2012 Threads: 346 Posts: 12545 |
Mexico is at under 40%?? I can hardly believe it. A more relevant question is: what does this number mean? Donald Trump is a one-term LOSER |
| July 6th, 2015 at 5:15:10 PM permalink | |
| kenarman Member since: Oct 24, 2012 Threads: 14 Posts: 4515 |
The reason Russia is in the Ukraine is for a warm water port. Imagine how appealing naval bases in Greece would be. Plus they get to boot out the US base, "but if you make yourselves sheep, the wolves will eat you." Benjamin Franklin |
| July 6th, 2015 at 5:43:00 PM permalink | |
| Wizard Administrator Member since: Oct 23, 2012 Threads: 239 Posts: 6095 |
We still have a base in Italy. Plus, for all the foreign aid we give Israel, I think we would have the bargaining power for one there, if we wanted it. Knowledge is Good -- Emil Faber |
| July 6th, 2015 at 6:08:19 PM permalink | |
| Evenbob Member since: Oct 24, 2012 Threads: 146 Posts: 25011 |
We have military bases all over Europe, especially in Germany, Italy and England. If you take a risk, you may lose. If you never take a risk, you will always lose. |
| July 6th, 2015 at 6:49:30 PM permalink | |
| Wizard Administrator Member since: Oct 23, 2012 Threads: 239 Posts: 6095 |
If we lose a base in Greece I won't lose any sleep over it. To be honest, I think I would appreciate any financial savings to the government. Knowledge is Good -- Emil Faber |