Important Message from the Eurozone...
- Thread starter Keith1
- Start date
Greece is a study in the benefits of Socialism.
Thanks to Greece, my retirement fund is down over $10k USD...
I am so happy that most of my funds have greater backing in domestic corporations and very little international.
I am thinking about pulling more from moderate funds to conservative (mostly bonds) at this point..
After Greece - who then shall upset the Euro-Apple-Cart?
I am so happy that most of my funds have greater backing in domestic corporations and very little international.
I am thinking about pulling more from moderate funds to conservative (mostly bonds) at this point..
After Greece - who then shall upset the Euro-Apple-Cart?
I cant believe for one minute you begrudge the poor Greeks some of your hard earned. Its actively propping up their social spending while the filthy rich pay ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZero in taxes. Tiz not a problem is it :laugh:
Bob
Jeff Young
GT40s Supporter
Interestingly enough, a couple of their larger creditors are as well.
Greece is a study in how you can't expect miracles with your money, like "cutting taxes to increase revenue" and such.
The extremes on both sides don't work. Center right and center left economic and social policies, they tend to work.
The markets will bounce back. A deal will be struck and we'll move on. Maybe Greece will learn, or maybe they won't.
Pat
Supporter
The situation in Greece is not sustainable and is in need of a correction. The question will be who will be willing to lend them money again and at what rate.
We're facing the same thing with Puerto Rico.
With all due respects to the Greeks, I think they are trying on the old "South American Two Step."
Alexis Tsipras has calculated (probably correctly) that for various reasons, fiscal not being the prime one, the EEC will not let Greece fail.
I do not believe they have any intention of paying back the money. Those who have been to Greece know that the wealth of Greece is in cash, in the back pocket and under the nations' mattresses. Pay tax? You're having a laugh.:laugh:
Quite why anyone thought they were suitable as a "Western style economy" is beyond me. The Greeks are good at just being Greeks and we like them like that. They should leave the EU forthwith.
It's more of a domino effect prevention program the EU is on now..
Greece today.........tomorrow?
At least that's my totally uneducated view..
Alexis Tsipras has calculated (probably correctly) that for various reasons, fiscal not being the prime one, the EEC will not let Greece fail.
I do not believe they have any intention of paying back the money. Those who have been to Greece know that the wealth of Greece is in cash, in the back pocket and under the nations' mattresses. Pay tax? You're having a laugh.:laugh:
Quite why anyone thought they were suitable as a "Western style economy" is beyond me. The Greeks are good at just being Greeks and we like them like that. They should leave the EU forthwith.
It's more of a domino effect prevention program the EU is on now..
Greece today.........tomorrow?
At least that's my totally uneducated view..
Jeff Young
GT40s Supporter
I think that is correct. The problem with the EU is trying to marry economies that are just not alike. "Southern" Europe is not the same as France, Germany, Belgium, UK, etc, or even Spain, Italy and Portugal.
Greece probably should never have been admitted to the EU, and was only because of geo-political reasons. Their economy cannot sustain their social programs, unlike in France, the UK and Germany.
Greece probably should never have been admitted to the EU, and was only because of geo-political reasons. Their economy cannot sustain their social programs, unlike in France, the UK and Germany.
Pete McCluskey.
Lifetime Supporter
Not paying tax is the Greek national pastime. However they expect all the social benefits, welfare, pensions etc. A classic case of, to paraphrase Maggie, they have run out of other peoples money.
Jeff Young
GT40s Supporter
Exactly, but really a symptom of their economy and taxing system, and not of democractic socialism -- which works fine in France, Germany, Sweden, and to a lesser extent the UK and others.
My simplistic and possibly inaccurate view on the situation is that Greece`s only real problem is the Euro as a currency and not the EU itself. Had they not taken the Euro on board they would have had a economic self leveling mechanism in place ,the Drachma would have fallen on the money markets making Greece`s produce cheap whilst making the place attractive to investors , this alone would have propped up their economy and forced change within . Out of the Euro maybe but it would be a shame to see them out Eurozone.
Bob
Bob
Good point re: currency, but what advantage is there for Greece "being in the Eurozone?" I personally can't see any. It's not as if they are a particularly industrial nation and in every other way their whole way of life, whilst appearing attractive, is hardly suited to the discipline of a Western style economy.
Shoot, I'm even wondering what the heck we're doing in this pig's breakfast.
Shoot, I'm even wondering what the heck we're doing in this pig's breakfast.
Shoot??????? Kinell Colonel you sound like them kinmericuns:stunned: It kind of worries me about exiting the pigs breakfast. Everything we eat and drive seems to come from europe, on and if we exit all these things will become an import which spells import tax = spensive :thumbsdown:
Bob
Jim Rosenthal
Supporter
The problem with the pig's breakfast, gentlemen, is that by the time it gets to us, it has already gone through the pig.
Pete McCluskey.
Lifetime Supporter
Keith1 Shoot said:
And what's wrong with Mericans???? :shifty:
We were a net importer from Europe last month - so it would appear that Europe needs us and strategic import taxes can promote British industry & goods rather than blindly buying from Europe. We also do around £55 billion per anuum with the United States, so import/export tariffs don't seem to hurt our trade with them that much. The really enticing question is, would they bring back Purchase Tax? If they do, I really hope it's based on the Merican system of sales tax which tends to benefit a region rather than a central Govt tax grab.
With the abolition of the dreaded iniquitous VAT, surely we should have cash to spare?
Dear Lord (& Pete) I welcome the day!
Problem with that is that there would over 2 million locked in!
Just to put EU immigration into perspective, there was a program on Channel 5 last night which featured a dirt poor Roma Gypsy from Romania. He had it all planned out. He was coming to England (not Britain you understand) and, in his words "because we are a rich country," he was coming here to claim benefits of £40,000 (yes, it's not a misprint) over 2 years and return to his village a rich man.
I'm not sure what happened after that because I was so upset with this blatant & arrogant daylight robbery that I switched off.
So, have we held on to the pound? Doesn't look like it!:furious:
http://www.express.co.uk/news/uk/46...nian-gypsy-aims-to-earn-40-000-on-UK-handouts
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