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All-American [589]
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Hate to be mean..
Jul 5, 2015, 7:20 PM
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But i say let the Greeks fail. They rejected many helping hands but refused to cut anything or comprise benefits for those feeding off the government. Feel bad for those that aren't in that boat, but they voted no. We can't continue to keep bailing nations out.
I personally would like to vacation there and this may make it much cheaper. Haha
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All-In [25941]
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Re: Hate to be mean..
Jul 5, 2015, 7:41 PM
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Right now, we can't bail out ourselves. China owns us. Greece is just the first domino.
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All-American [589]
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Re: Hate to be mean..
Jul 5, 2015, 7:47 PM
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scary too. If IMF drops usd reserve in October, not good for us. Our social spending needs to be checked.
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All-TigerNet [14090]
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a vast majority of US spending is on the military***
Jul 6, 2015, 1:24 PM
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Orange Blooded [2683]
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I never knew 18% was a vast majority***
Jul 6, 2015, 4:24 PM
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110%er [6321]
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Give him a break. He's been drinkin'...***
Jul 6, 2015, 8:36 PM
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Orange Blooded [4504]
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He doesn't need alcohol to make posts like that.***
Jul 6, 2015, 9:06 PM
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Orange Blooded [4896]
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you are right about China. They now own Swifts
Jul 5, 2015, 7:58 PM
[ in reply to Re: Hate to be mean.. ] |
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And other large companies. The future esp under someone like Hillary is downright scary.
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Heisman Winner [139900]
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Volvo is coming to SC, and guess who owns them.***
Jul 5, 2015, 8:09 PM
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Heisman Winner [108390]
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i roll...
Jul 5, 2015, 8:16 PM
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or egg roll.
we'll see how good you are.
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All-In [40925]
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All-In [30775]
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When I was in Army rotc back in 1992ish
Jul 6, 2015, 10:04 AM
[ in reply to Re: Hate to be mean.. ] |
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I took a military history class whichhad a bunch of zoomies from the air force rotc. While we were discussing the first gulf war one of the zoomies started bragging on how the air force single handedly won that war.
He was quickly put in his place when he was reminded that all the bombs in the world don't mean anything until some one walks in and plants a flag.
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CU Medallion [50680]
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You discussed the first Gulf war in class back in 1992?
Jul 6, 2015, 4:48 PM
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Which first one was that?
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110%er [6320]
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Legend [16240]
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I don't know. Greece is kinda like Lehman Bros. to me.
Jul 5, 2015, 8:18 PM
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Certainly not the majority wealth holder as a nation but capable of triggering something much deeper for other systems tied into it.
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Orange Blooded [4098]
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Re: I don't know. Greece is kinda like Lehman Bros. to me.
Jul 5, 2015, 9:15 PM
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let them GO!! they refuse to make the changes that are required.. they expect the rest of Europe to pay for them overspending for years!I sure hope that they never get another penny!
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110%er [5093]
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Re: Hate to be mean..
Jul 5, 2015, 8:36 PM
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Greece's problem had more to do with their refusal to collect taxes.
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Commissioner [997]
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Not true! You must have gotten your Economics degree from Duke!
Jul 6, 2015, 12:26 PM
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Actually, Socialism has destroyed Greece. Massive Nanny State failures, Pension plans, Universal Healthcare, is what did these poor bastages in. Lack of a true free market system.
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110%er [5093]
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Re: Not true! You must have gotten your Economics degree from Duke!
Jul 6, 2015, 12:34 PM
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Greece's 'nanny state' had very little to do with their current situation.
But you're never going to be able to understand why you are wrong.
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Mascot [24]
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Re: Not true! You must have gotten your Economics degree from Duke!
Jul 6, 2015, 3:47 PM
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78 % of taxes in Greece are never paid.....
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All-TigerNet [14090]
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All-In [40925]
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They raised the retirement age above 55 years old
Jul 5, 2015, 9:15 PM
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well not the 55 year olds that were already retired
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Orange Blooded [4098]
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Re: Hate to be mean..
Jul 5, 2015, 9:17 PM
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ABSOLUTELY!! they still refuse to make the cuts that are required so let the go under!by the way; we are next if hillary gets elected!
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All-In [40925]
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you know, we refuse to make cuts also
Jul 5, 2015, 9:21 PM
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thanks obama
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Orange Blooded [4098]
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Re: you know, we refuse to make cuts also
Jul 5, 2015, 9:27 PM
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I KNOW!! and if hillary is elected we might not have but about 10 more years!!!!!!
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Rock Defender [53]
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Re: Hate to be mean..
Jul 5, 2015, 9:32 PM
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IMO - America is not much better than Greece in how we have so few supporting so many. Obama has just made it worse by almost every move he made. Unless America changes its ways soon, we are headed for a financial disaster for future generations. I'm old and probably won't live long enough for the event to occur, but my children will probably have to endure it.
As for Greece, the world will be better off letting them default and leave the Eurozone IMO. They are fixated on doing whatever they want to without any concessions on their part. They must suffer the consequences of their decision. Europe and the world will suffer from their actions too, but they will taste the agony of defeat for their recent actions.
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110%er [6096]
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U.S. Is in debt. those is glass houses shouldn't throw rocks***
Jul 5, 2015, 9:47 PM
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Orange Blooded [4098]
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Re: U.S. Is in debt. those is glass houses shouldn't throw rocks***
Jul 5, 2015, 9:52 PM
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we can get out of this IF we get the right President... and not hillary
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110%er [9300]
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Litefoot I'd like to think so, or rather hope we can turn things
Jul 5, 2015, 10:24 PM
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Around but highly doubt a Republican would be much different. As I've said here many times, they are basically one in the same with the Democrats these days. Very few differences in the two parties, save a few social issues, and they are both controlled by the same donors/major corporations.
Both are for huge government.
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1st Rounder [638]
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Re: Litefoot I'd like to think so, or rather hope we can turn things
Jul 5, 2015, 10:56 PM
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Washington has become the enemy of the people. All three branches. That simple....
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Hall of Famer [24728]
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Hall of Famer [24728]
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Legend [17786]
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They have mad Yogurt and Dressing $$. Time to dip into it***
Jul 6, 2015, 10:25 AM
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CU Guru [1760]
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Re: Hate to be mean..
Jul 6, 2015, 10:44 AM
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Russia will bail them out, just to create a crack in the wall that is nato.
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Hall of Famer [22384]
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The Germans are screwing up big time and the Euro will fail
Jul 6, 2015, 11:23 AM
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as a central currency without a central fiscal authority to go along with it. People don't like unelected officials imposing policies on them and their government, especially the ones that enrich other countries at the expense of their own.
What is happening to Greece, with the same GDP as the state of Washington will never happen to us. We have our own currency and we borrow in dollars. Once the Greeks are out of the Euro, they can devalue their currency and exports will lead them out of recession. Without Greece, and possibly others, the Euro will rise against the dollar and our exports will perk up, too. Germany, if it had its own currency, would be slowing now as their currency appreciated relative to every other. Germans and other Europeans would be buying Greek products as a result, but that can't happen with the common currency.
Best thing that could happen would be for the Greeks to exit the Euro. The austerity mongers have been proven wrong once again. The resulting downward spiral of GDP and tax revenues, predictably and much as they have in Kansas and Wisconsin(similar GDP to Greece)where austerity is driving down GDP and driving up deficits, should awaken them from their stupor at some point, but not so far. Merkel and her henchmen are being extremely shortsighted.
Supply-side economics, should have been dead and buried by now, but it lives on in spite of all of the empirical evidence to the contrary.
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Hall of Famer [24728]
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Banks get to play with house money and when the ball
Jul 6, 2015, 11:38 AM
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lands in the red instead of black on the roulette table, they still get 80+% of their bets covered by the government (taxpayers). They can't lose and very few can win....
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110%er [5093]
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Hall of Famer [22384]
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"One man's spending is another man's income."
Jul 6, 2015, 12:29 PM
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If they could start with that basic truth, instead of comparing the economy to a single household, it would help.
But, no, I'm not going to attempt to lift that load.
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Hall of Famer [22384]
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One thing this thread confirms is that most people have
Jul 6, 2015, 12:11 PM
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no clue on economics. Must not have studied it at Clemson.
Economics shouldn't be based upon political ideology. It should be based upon what works and what doesn't work. We have enough empirical evidence to determine a pragmatic path forward. Even Republican Ben Bernanke understands the truth and can explain it, but he can't get the Louis Gomerts of the world to understand it. And there are a LOT of Louis Gomerts in the world.
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All-TigerNet [14090]
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the USA hasn't given a bailout to Greece..
Jul 6, 2015, 1:23 PM
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And we are getting a bailout from China. The Greeks can do what they want to do, they are their own country. This debt was from a loan 3 Greek governments ago based on the IMF controlling Greece's economic policy. The economic policies of austerity have failed, and the Greeks through a democratic process decided they don't want the IMF or the rest of Europe controlling their economic policy
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Orange Blooded [2595]
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Re: the USA hasn't given a bailout to Greece..
Jul 6, 2015, 6:39 PM
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US has a 18% part in gifts from IMF.
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Orange Blooded [2894]
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but you need Listerine.***
Jul 6, 2015, 1:37 PM
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Team Captain [453]
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There are a lot of reasons for the failure of Greek Economy
Jul 6, 2015, 5:05 PM
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If you want the full story and understanding this is the best article i've seen summing up the issue.
http://www.washingtonpost.com/blogs/wonkblog/wp/2015/07/01/the-forgotten-origins-of-greeces-terrible-crisis-will-make-you-think-twice-about-whos-to-blame/
"In the mid-1990s, even before it came into existence, markets made a huge bet that the euro would be a reality. Specifically, investors, many in northern Europe, bet that interest rates in northern and southern Europe would converge. At the time, interest rates in southern Europe were much higher than in northern Europe, simply because people thought investing in countries like Greece was much riskier than investing in countries like Germany.
In anticipation of the euro zone, investors put lots of money in the cheap, high-yielding bonds of southern Europe. That helped to drive down yields and fueled borrowing and an economic boom in southern countries."
So basically it was the equivalent of the sub-prime mortgage crisis in this country. Yes the people who borrowed the money should have known they couldn't pay it back, but the lenders (in this case the more capitalist economies of Northern Europe)knew there was money to be made and took their profits out of the too good to be true boom.
Add to that the fact that Greece couldn't pay for their social programs and had a totally corrupt tax system and you get what we have now.
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