-
08-07-2015, 10:08 AM
#8081
Originally Posted by Bjauck
The pitfalls of linking a traditionally weak currency country (Greece) with a currency dominated by a big traditionally strong currency country (Germany). Efficient German industries can dominate as their goods no longer become more expensive by virtue of a devaluing drachma. A win for Germany because of the common currency. Under freedom of travel, young Greeks move to Germany (and other EU nations) leaving a population more and more dominated by pensioners and beneficiaries, which creates a further decline in production and tax raising efforts. A win for Germany (& others) as it makes use of the (cheap) migrant labour to boost its economy and tax revenues to help pay its own pensioners. Now it is payback time for all these advantages accrued over the years to Germany and the Northern Euro countries. There is a cost for establishing a currency for political reasons.
No need to become emotional. Yes, the Germans had unquestionable some benefits from being allowed to use a currency depressed by a bunch of people who prefer to live off other peoples income than making their own hands dirty. The Germans paid as well a quite high price for it - they "own" the lion's share of the basically unrecoverable Greek debts. No need for them to throw more money into a bottomless barrel.
There is as well a price to pay for driving your country for political reasons into the abyss as the Greek left wing is currently doing. Obviously - at the end of the day it was the British who trained these Marxist playboys in economy: the latest Greek finance minister (Tsakalotos) graduated in Oxford - lol. Ah yes - and the idiot running the Greek ministry of finance the couple of months before (Varoufakis) graduated in Essex. Not a good look for the British Education system - maybe they should refund their study fees - looks like they didn't learn enough.
Some soft skills as well as learning the need to prepare for crucial meeting should be a basic requirement for politicians - but Tsakalotos appeared to the last crisis meeting in Brussels even without notes. He just remembered that the greek people voted Oxi ...
Ah yes - but I forgot, both are communists. Communists don't work, they suck other peoples hard earned money ... until it runs out.
----
"Prediction is very difficult, especially about the future" (Niels Bohr)
-
08-07-2015, 11:15 AM
#8082
BP, is the US therefore communist? Seems by your definition of sucking other peoples money they could well be. I refer to the US tax payer of course, but it could be Japan or Europe. Not that I back communism by any means, but a balance between capitalism & socialist policies, i.e. creating a center seems to me the only model that probably works. i.e. take the best from both. Extreme capitalism of the likes we have seen in the US certainly doesn't work & can the blame for the last eight years of the GFC can squarely be placed at the feet of the masters of the universe on Wall St & the likes of Greenspan who allowed it to happen.
Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision.
-
08-07-2015, 11:26 AM
#8083
Originally Posted by Daytr
BP, is the US therefore communist? Seems by your definition of sucking other peoples money they could well be. I refer to the US tax payer of course, but it could be Japan or Europe. Not that I back communism by any means, but a balance between capitalism & socialist policies, i.e. creating a center seems to me the only model that probably works. i.e. take the best from both. Extreme capitalism of the likes we have seen in the US certainly doesn't work & can the blame for the last eight years of the GFC can squarely be placed at the feet of the masters of the universe on Wall St & the likes of Greenspan who allowed it to happen.
Not sure which comment you are referring to ... but if it was the recent one - I didn't refer to their behaviour - however both recent Greek Finance ministers are members of Syriza (Coalition of the Radical Left) and both are part of its Marxist wing. Whats wrong with calling them communists? I tend to call a spade a spade.
----
"Prediction is very difficult, especially about the future" (Niels Bohr)
-
08-07-2015, 11:27 AM
#8084
Originally Posted by BlackPeter
...at the end of the day it was the British who trained these Marxist playboys in economy: the latest Greek finance minister (Tsakalotos) graduated in Oxford - lol. Ah yes - and the idiot running the Greek ministry of finance the couple of months before (Varoufakis) graduated in Essex. Not a good look for the British Education system - maybe they should refund their study fees - looks like they didn't learn enough...
That is baffling. Let's put to one side the fact that we are having this discussion courtesy of the work of an Oxonian Alumnus, Tim Berners-Lee. Also the fact that the British kept well out of the Euro in the first place...
Amongst former Oxford Alumni: right wingers such as current Prime Ministers Abbott and Cameron went to Oxford.
I won't mention Stephen Hawking
-
08-07-2015, 11:38 AM
#8085
Originally Posted by Bjauck
That is baffling. Let's put to one side the fact that we are having this discussion courtesy of the work of an Oxonian Alumnus, Tim Berners-Lee. Also the fact that the British kept well out of the Euro in the first place...
Amongst former Oxford Alumni: right wingers such as current Prime Ministers Abbott and Cameron went to Oxford.
I won't mention Stephen Hawking
Ouch - I didn't say that the British Education System is unable to produce great minds (I am a fan of Steven Hawking) ... just said that it seemed to have failed a row of Greek Finance ministers. I guess never mind their believe systems, but they are behaving just unprofessional.
----
"Prediction is very difficult, especially about the future" (Niels Bohr)
-
08-07-2015, 11:45 AM
#8086
An education system is primarily designed to teach people how to think, not what to think.
-
08-07-2015, 11:49 AM
#8087
Originally Posted by craic
An education system is primarily designed to teach people how to think, not what to think.
Except it's not.
-
08-07-2015, 12:00 PM
#8088
Plenty of commies came out of Cambridge in the 1930s... ;-)
BP, here's your quote. "Communists don't work, they suck other peoples hard earned money ... until it runs out. "
Well the first part is completely wrong, just ask a billion plus Chinese. The 2nd part is where you could be referring to the US or now Europe.
Using taxpayer's money to bail out banks & boost shareholder returns to the wealthy. Actually that's not communism at all, that's just screwing the taxpayer! ;-)
Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision.
-
08-07-2015, 12:11 PM
#8089
Originally Posted by Daytr
Plenty of commies came out of Cambridge in the 1930s... ;-)
BP, here's your quote. "Communists don't work, they suck other peoples hard earned money ... until it runs out. "
Well the first part is completely wrong, just ask a billion plus Chinese. The 2nd part is where you could be referring to the US or now Europe.
Using taxpayer's money to bail out banks & boost shareholder returns to the wealthy. Actually that's not communism at all, that's just screwing the taxpayer! ;-)
Granted - if you take (as you did) my quote out of context than it looks wrong. I withdraw and apologise to anybody who might have been offended.
I never meant to refer to people living under a system which calls itself communist (like e.g. China - on of the most capitalist dictatorships I know of), but I was referring to people subscribing to the ideas of the communist manifesto according to Karl Marx ... after realizing that it does not work given the way real humans operate ...
----
"Prediction is very difficult, especially about the future" (Niels Bohr)
-
08-07-2015, 12:19 PM
#8090
So were you saying communism doesn't work? Or that communists don't work? Very different meanings.
Thatcher was implying they don't actually work and rely on others to pay their way which is utter nonsense.
She put most of them out of work! haha
Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision.
Tags for this Thread
Posting Permissions
- You may not post new threads
- You may not post replies
- You may not post attachments
- You may not edit your posts
-
Forum Rules
|
|
Bookmarks