Another Banking Crisis Looms over Greece

[bripat9643]

Who cares what the date is. The Greeks do this every 5 years anyway.

Soemone had tied in the 894,00,000 millionin an article I was reading, I presumed that was the current amount being withdrawn. Still, the words on the street implies this will soon follow.

When hyperinflation or devaluation is about to hit the fan, the best thing to do is buy hard assets like gold or real estate.

 

[bripat9643]

They confiscated money from everyone's bank account a while back didn't they? People probably decide to get ahead of it this time. But yes, I remember 10 years ago arguing with libs and them using Greece as the model the US should follow.

I seriously doubt that any liberal has ever used Greece as a "model" that the US should follow.

Oh yeah they did. Back in my usenet days. Sorry if it ruffles your feathers.

It doesn't "ruffle my feathers", it simply doesn't make any sense. Greece has never been a good model of anything.

Why would liberals use Greece as a model when there are so many larger and much more successful welfare states in Europe?

Greece followed all the policies that liberal endorse, like caving in to the demands of their public sector unions.

 

[The2ndAmendment]

http://www.nytimes.com/2015/01/17/b...ask-ecb-for-access-to-emergency-aid.html?_r=0

Investor Unease Hangs Over Greece Ahead of Vote - WSJ

Zerohedge was the first to report it.

Greece Turmoil Threat To Eurozone - Risk of Bank Runs and Bail-Ins Zero Hedge

 

[bripat9643]

They confiscated money from everyone's bank account a while back didn't they? People probably decide to get ahead of it this time. But yes, I remember 10 years ago arguing with libs and them using Greece as the model the US should follow.

I seriously doubt that any liberal has ever used Greece as a "model" that the US should follow.

Oh yeah they did. Back in my usenet days. Sorry if it ruffles your feathers.

It doesn't "ruffle my feathers", it simply doesn't make any sense. Greece has never been a good model of anything.

Why would liberals use Greece as a model when there are so many larger and much more successful welfare states in Europe?

LOL, you are suggesting that liberals make sense. Education was a big factor as I recall. Cheap to nothing from what I remember. Transportation was another. Which successful model are you talking about?

More successful than Greece?

Any of the Scandinavian countries. Germany.

Even France.

That's only because they don't follow the liberal program as slavishly as Greece does.

 

[theDoctorisIn]

I seriously doubt that any liberal has ever used Greece as a "model" that the US should follow.

Oh yeah they did. Back in my usenet days. Sorry if it ruffles your feathers.

It doesn't "ruffle my feathers", it simply doesn't make any sense. Greece has never been a good model of anything.

Why would liberals use Greece as a model when there are so many larger and much more successful welfare states in Europe?

LOL, you are suggesting that liberals make sense. Education was a big factor as I recall. Cheap to nothing from what I remember. Transportation was another. Which successful model are you talking about?

More successful than Greece?

Any of the Scandinavian countries. Germany.

Even France.

That's only because they don't follow the liberal program as slavishly as Greece does.

You seriously believe that Greece "follows the liberal program" more so than Norway or Sweden?

Blaming Greece entirely on "liberals" or the welfare state requires willful ignorance of the entire situation.

 

[theDoctorisIn]

I seriously doubt that any liberal has ever used Greece as a "model" that the US should follow.

Oh yeah they did. Back in my usenet days. Sorry if it ruffles your feathers.

It doesn't "ruffle my feathers", it simply doesn't make any sense. Greece has never been a good model of anything.

Why would liberals use Greece as a model when there are so many larger and much more successful welfare states in Europe?

LOL, you are suggesting that liberals make sense. Education was a big factor as I recall. Cheap to nothing from what I remember. Transportation was another. Which successful model are you talking about?

More successful than Greece?

Any of the Scandinavian countries. Germany.

Even France.

That's only because they don't follow the liberal program as slavishly as Greece does.

You seriously believe that Greece "follows the liberal program" more so than Norway or Sweden?

Blaming Greece entirely on "liberals" or the welfare state requires willful ignorance of the entire situation.

 

[theDoctorisIn]

http://www.nytimes.com/2015/01/17/b...ask-ecb-for-access-to-emergency-aid.html?_r=0

Investor Unease Hangs Over Greece Ahead of Vote - WSJ

Zerohedge was the first to report it.

Greece Turmoil Threat To Eurozone - Risk of Bank Runs and Bail-Ins Zero Hedge

None of those links mention your supposed 894 million bank run.

Also, "Zero Hedge" didn't "report it first", they re-posted a blog by a gold broker (GoldCore) that doesn't have very much to do with what you're talking about.

 

[The2ndAmendment]

http://www.nytimes.com/2015/01/17/b...ask-ecb-for-access-to-emergency-aid.html?_r=0

Investor Unease Hangs Over Greece Ahead of Vote - WSJ

Zerohedge was the first to report it.

Greece Turmoil Threat To Eurozone - Risk of Bank Runs and Bail-Ins Zero Hedge

None of those links mention your supposed 894 million bank run.

Also, "Zero Hedge" didn't "report it first", they re-posted a blog by a gold broker (GoldCore) that doesn't have very much to do with what you're talking about.

Perhaps you should exercise your admin powers to edit the title of the thread?

 

[saveliberty]

There is a vote soon on a QE program for the EU. Also, Sweden untied the franc from the Euro yesterday. Clearly a move to have an independent currency form the Euro. No one is sure how long the EU will hang together.

 

[theDoctorisIn]

http://www.nytimes.com/2015/01/17/b...ask-ecb-for-access-to-emergency-aid.html?_r=0

Investor Unease Hangs Over Greece Ahead of Vote - WSJ

Zerohedge was the first to report it.

Greece Turmoil Threat To Eurozone - Risk of Bank Runs and Bail-Ins Zero Hedge

None of those links mention your supposed 894 million bank run.

Also, "Zero Hedge" didn't "report it first", they re-posted a blog by a gold broker (GoldCore) that doesn't have very much to do with what you're talking about.

Perhaps you should exercise your admin powers to edit the title of the thread?

What would you like me to change it to?

 

[The2ndAmendment]

http://www.nytimes.com/2015/01/17/b...ask-ecb-for-access-to-emergency-aid.html?_r=0

Investor Unease Hangs Over Greece Ahead of Vote - WSJ

Zerohedge was the first to report it.

Greece Turmoil Threat To Eurozone - Risk of Bank Runs and Bail-Ins Zero Hedge

None of those links mention your supposed 894 million bank run.

Also, "Zero Hedge" didn't "report it first", they re-posted a blog by a gold broker (GoldCore) that doesn't have very much to do with what you're talking about.

Perhaps you should exercise your admin powers to edit the title of the thread?

What would you like me to change it to?

Another Banking Crisis Looms over Greece.

 

[bripat9643]

Oh yeah they did. Back in my usenet days. Sorry if it ruffles your feathers.

It doesn't "ruffle my feathers", it simply doesn't make any sense. Greece has never been a good model of anything.

Why would liberals use Greece as a model when there are so many larger and much more successful welfare states in Europe?

LOL, you are suggesting that liberals make sense. Education was a big factor as I recall. Cheap to nothing from what I remember. Transportation was another. Which successful model are you talking about?

More successful than Greece?

Any of the Scandinavian countries. Germany.

Even France.

That's only because they don't follow the liberal program as slavishly as Greece does.

You seriously believe that Greece "follows the liberal program" more so than Norway or Sweden?

Blaming Greece entirely on "liberals" or the welfare state requires willful ignorance of the entire situation.

Sure it does. The government spent like there was no tomorrow leading to a debt/GDP ratio of 100%. Dims in this country adopt the same policy.

Greeces public sector unions are looting the country blind, which is exactly what libs in this country favor.

 

[theDoctorisIn]

http://www.nytimes.com/2015/01/17/b...ask-ecb-for-access-to-emergency-aid.html?_r=0

Investor Unease Hangs Over Greece Ahead of Vote - WSJ

Zerohedge was the first to report it.

Greece Turmoil Threat To Eurozone - Risk of Bank Runs and Bail-Ins Zero Hedge

None of those links mention your supposed 894 million bank run.

Also, "Zero Hedge" didn't "report it first", they re-posted a blog by a gold broker (GoldCore) that doesn't have very much to do with what you're talking about.

Perhaps you should exercise your admin powers to edit the title of the thread?

What would you like me to change it to?

Another Banking Crisis Looms over Greece.

Done.

 

[Tom Sweetnam]

They confiscated money from everyone's bank account a while back didn't they? People probably decide to get ahead of it this time. But yes, I remember 10 years ago arguing with libs and them using Greece as the model the US should follow.

I seriously doubt that any liberal has ever used Greece as a "model" that the US should follow.

Oh yeah they did. Back in my usenet days. Sorry if it ruffles your feathers.

It doesn't "ruffle my feathers", it simply doesn't make any sense. Greece has never been a good model of anything.

Why would liberals use Greece as a model when there are so many larger and much more successful welfare states in Europe?

Greece followed all the policies that liberal endorse, like caving in to the demands of their public sector unions.

Their annual per capita GDP is $21,000, but every one of them wants twice or three times that in annual state benefits.

Here's the CIA World Factbook section on the Greek economy: The World Factbook
Scroll down to the subheading GDP-real growth rate and note the figures: -7.1% for 2011; -6.4% for 2012; -4% for 2013
Between 2011 and 2013, Greece had a negative 17% growth rate. This while they're already in hawk up to their asses in foreign loans and internal debt as well.

 

[theDoctorisIn]

They confiscated money from everyone's bank account a while back didn't they? People probably decide to get ahead of it this time. But yes, I remember 10 years ago arguing with libs and them using Greece as the model the US should follow.

I seriously doubt that any liberal has ever used Greece as a "model" that the US should follow.

Oh yeah they did. Back in my usenet days. Sorry if it ruffles your feathers.

It doesn't "ruffle my feathers", it simply doesn't make any sense. Greece has never been a good model of anything.

Why would liberals use Greece as a model when there are so many larger and much more successful welfare states in Europe?

Greece followed all the policies that liberal endorse, like caving in to the demands of their public sector unions.

Their annual per capita GDP is $21,000, but every one of them wants twice or three times that in annual state benefits.

Here's the CIA World Factbook section on the Greek economy: The World Factbook
Scroll down to the subheading GDP-real growth rate and note the figures: -7.1% for 2011; -6.4% for 2012; -4% for 2013
Between 2011 and 2013, Greece had a negative 17% growth rate. This while they're already in hawk up to their asses in foreign loans and internal debt as well.

The austerity requirements imposed by the World Bank and the EU after bailing out Greece pretty much guaranteed a negative growth rate.

 

[bripat9643]

I seriously doubt that any liberal has ever used Greece as a "model" that the US should follow.

Oh yeah they did. Back in my usenet days. Sorry if it ruffles your feathers.

It doesn't "ruffle my feathers", it simply doesn't make any sense. Greece has never been a good model of anything.

Why would liberals use Greece as a model when there are so many larger and much more successful welfare states in Europe?

Greece followed all the policies that liberal endorse, like caving in to the demands of their public sector unions.

Their annual per capita GDP is $21,000, but every one of them wants twice or three times that in annual state benefits.

Here's the CIA World Factbook section on the Greek economy: The World Factbook
Scroll down to the subheading GDP-real growth rate and note the figures: -7.1% for 2011; -6.4% for 2012; -4% for 2013
Between 2011 and 2013, Greece had a negative 17% growth rate. This while they're already in hawk up to their asses in foreign loans and internal debt as well.

The austerity requirements imposed by the World Bank and the EU after bailing out Greece pretty much guaranteed a negative growth rate.

NO, Greece's prior spending and pissing the national wealth down the public sector union rat-hole is what guaranteed their negative growth rate.

 

[Tom Sweetnam]

I seriously doubt that any liberal has ever used Greece as a "model" that the US should follow.

Oh yeah they did. Back in my usenet days. Sorry if it ruffles your feathers.

It doesn't "ruffle my feathers", it simply doesn't make any sense. Greece has never been a good model of anything.

Why would liberals use Greece as a model when there are so many larger and much more successful welfare states in Europe?

Greece followed all the policies that liberal endorse, like caving in to the demands of their public sector unions.

Their annual per capita GDP is $21,000, but every one of them wants twice or three times that in annual state benefits.

Here's the CIA World Factbook section on the Greek economy: The World Factbook
Scroll down to the subheading GDP-real growth rate and note the figures: -7.1% for 2011; -6.4% for 2012; -4% for 2013
Between 2011 and 2013, Greece had a negative 17% growth rate. This while they're already in hawk up to their asses in foreign loans and internal debt as well.

The austerity requirements imposed by the World Bank and the EU after bailing out Greece pretty much guaranteed a negative growth rate.

So what should they have done? Not given Greece the loans? That would have set off some serious ballyhoo from self-righteous lefties, wouldn't it?

 

[theDoctorisIn]

Oh yeah they did. Back in my usenet days. Sorry if it ruffles your feathers.

It doesn't "ruffle my feathers", it simply doesn't make any sense. Greece has never been a good model of anything.

Why would liberals use Greece as a model when there are so many larger and much more successful welfare states in Europe?

Greece followed all the policies that liberal endorse, like caving in to the demands of their public sector unions.

Their annual per capita GDP is $21,000, but every one of them wants twice or three times that in annual state benefits.

Here's the CIA World Factbook section on the Greek economy: The World Factbook
Scroll down to the subheading GDP-real growth rate and note the figures: -7.1% for 2011; -6.4% for 2012; -4% for 2013
Between 2011 and 2013, Greece had a negative 17% growth rate. This while they're already in hawk up to their asses in foreign loans and internal debt as well.

The austerity requirements imposed by the World Bank and the EU after bailing out Greece pretty much guaranteed a negative growth rate.

So what should they have done? Not given Greece the loans? That would have set off some serious ballyhoo from self-righteous lefties, wouldn't it?

The loans themselves weren't the problem, the requirements attached were.

It's a lot more complicated, since a large portion of the responsibility for the debt crisis comes from the structure of the EU.

 

[Tom Sweetnam]

It doesn't "ruffle my feathers", it simply doesn't make any sense. Greece has never been a good model of anything.

Why would liberals use Greece as a model when there are so many larger and much more successful welfare states in Europe?

Greece followed all the policies that liberal endorse, like caving in to the demands of their public sector unions.

Their annual per capita GDP is $21,000, but every one of them wants twice or three times that in annual state benefits.

Here's the CIA World Factbook section on the Greek economy: The World Factbook
Scroll down to the subheading GDP-real growth rate and note the figures: -7.1% for 2011; -6.4% for 2012; -4% for 2013
Between 2011 and 2013, Greece had a negative 17% growth rate. This while they're already in hawk up to their asses in foreign loans and internal debt as well.

The austerity requirements imposed by the World Bank and the EU after bailing out Greece pretty much guaranteed a negative growth rate.

So what should they have done? Not given Greece the loans? That would have set off some serious ballyhoo from self-righteous lefties, wouldn't it?

The loans themselves weren't the problem, the requirements attached were.

It's a lot more complicated, since a large portion of the responsibility for the debt crisis comes from the structure of the EU.

Yes, responsibility is always the difficult option, isn't it?

 

[theDoctorisIn]

Greece followed all the policies that liberal endorse, like caving in to the demands of their public sector unions.

Their annual per capita GDP is $21,000, but every one of them wants twice or three times that in annual state benefits.

Here's the CIA World Factbook section on the Greek economy: The World Factbook
Scroll down to the subheading GDP-real growth rate and note the figures: -7.1% for 2011; -6.4% for 2012; -4% for 2013
Between 2011 and 2013, Greece had a negative 17% growth rate. This while they're already in hawk up to their asses in foreign loans and internal debt as well.

The austerity requirements imposed by the World Bank and the EU after bailing out Greece pretty much guaranteed a negative growth rate.

So what should they have done? Not given Greece the loans? That would have set off some serious ballyhoo from self-righteous lefties, wouldn't it?

The loans themselves weren't the problem, the requirements attached were.

It's a lot more complicated, since a large portion of the responsibility for the debt crisis comes from the structure of the EU.

Yes, responsibility is always the difficult option, isn't it?

"Responsibility" doesn't mean anything. It's a buzzword.

The idea that Greece brought the crisis on itself has some truth to it, but that doesn't change the fact that attaching riders to a bailout that guarantee a significant drop in growth serve little purpose and almost guarantee the need for future bailouts.

I don't have an answer to the problem of Greece. But the reality is nowhere near as simple as you guys attempt to make it out to be.