Plantagenet wrote:americandream wrote:Thatcher .... Reagan....blah blah blah
Thatcher and Reagan have been out of office for over 30 years.
They aren't to blame for the current problems in Greece.
Cheers!
americandream wrote:The opening up of debt started with the deregulation of the financial sector and the deregulation of this sector was peddled by those two, worldwide, the same debt addiction that bedevils us today arose from that deregulation.
Plantagenet wrote:americandream wrote:The opening up of debt started with the deregulation of the financial sector and the deregulation of this sector was peddled by those two, worldwide, the same debt addiction that bedevils us today arose from that deregulation.
Don't be silly.
Greece's inability to manage their finances wasn't caused by Reagan and Thatcher. Greece has a long history of going bankrupt--- Greece has run up huge debts and then gone bankrupt five separate times since the year 1800. By some estimates Greece has been in bankruptcy about half of the time since the Greek state was established.
Its just dumb to blame this current Greek bankruptcy on things Reagan and Thatcher said 30+ years ago, when the Greeks have shown over and over again that they are quite capable of borrowing too much money and mismanaging their economy and then going bankrupt all on their own.
Cheers!
americandream wrote: To blame the Greeks for their predicament ...is ... absurd
Sixstrings wrote:Capital controls in Greece are limiting people to 60 euros per day. Which isn't a lot, considering people need to pay all their bills with that and feed themselves.
Elderly pesnioners are having to go from ATM to ATM to try to find one that works, and has money in it.
Wall street crashing.. Asian markets crashing.. doesn't look good.
Outcast_Searcher wrote:... pensions are still being paid to the pensioners.
Plantagenet wrote:Outcast_Searcher wrote:... pensions are still being paid to the pensioners.
Except the banks are closed, so they can't cash their pension checks.
But don't worry---the Greek government thinks of everything! If they don't change their minds again, at the current time the leftists running Greece will allow some banks to reopen on for a few hours on Wednesday or maybe Thursday or at the latest on Friday to allow elderly pensioners to cash their checks.
As the clock ran out on a Greece deal, Greeks were handed a daily 60 euros ($67) cash withdrawal limit, sending crowds of elderly depositors who do not have ATM cards rushing to closed bank branches.
"I came here at 4 a.m. because I have to get my pension," said 74-year-old Anastasios Gevelidis, one of about 100 retirees waiting outside the main branch of the National Bank of Greece in the country's second-largest city of Thessaloniki.
"I don't have a card. I don't know what's going on. We don't even have enough money to buy bread," he said.
Electronic transfers and bill payments are allowed, but only within Greece. The government also stressed the controls would not affect foreign tourists, who would have no limits on cash withdrawals with foreign bank cards.
Fishman wrote:"Trillions Spent, but Crises Like Greece’s Persist" New York Times today. Further proof of the failure by socialism and the total lack of insight on their part. Cause and effect
Lore wrote:It was actually those Euro capitalists fault for lending it to them. It's really no different then the banking mortgage debacle here in the U.S.
Outcast_Searcher wrote:Lore wrote:It was actually those Euro capitalists fault for lending it to them. It's really no different then the banking mortgage debacle here in the U.S.
Yes, it was the bankers' fault for all the liar loans by those wanting mortgages. It must be nice to live in a fantasy world where no personal responsibility exists.
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