Eurozone slides back into recession

[Bad_Daddy 2,209]

Debt sucks, but there's no way to pay it back if you are not allowed to work.

So let's say you are a bookie who made mistakes and had a bad run. You owe 3-Finger-Joe $10,000.

He can now come and put your pockets upside down every time you've received a few hundred bucks in profit, or he can take it easy on you and allow you to make money with the money he has. Money makes money, and without capital there's no way to make money and without being able to make money 3-Finger Joe will never get all of his $10,000 back.

Sometimes, it just makes sense to look at the bigger picture, instead of focusing on short-term gains.

You are in the stock market, Gary, aren't you?

And you could be Mr. Big Dogs partner in his new job as financial adviser to the EU. Here's a clue. Most of the jobs in Greece and a few other select southern European countries happened to be do nothing government jobs that were created by socialist loving governments. Kind of like what France plans on doing even though it's going to break them. When you invent "pretend jobs" that allow workers to work 30 hours a week, get paid for 40 hrs. along with a ####### load of paid vacation days and other beni's and then only accomplish 20 hours of actual work if that, then you run into problems when the big wide world around you relies on capitalism. Big fat government socialism is a proven failure. Just ask the former USSR.

Edited November 16, 2012 by Bad_Daddy

[Mr. Big Dog 10,747]

You should email the Greek and Spanish governments along with the German government and German banks offering your services. For some strange reason the EU along with the German banks begged Spain and Greece to seek austerity measures. I'm sure you know better though so I see you making a killing off of them as their new financial adviser.

Of course it is in Germany's interest to push austerity onto the southern periphery. You see, Germany lacks workers and given the demographics, that situation will only get worse. Now that Spain and Greece and Italy have these horrendous unemployment rates, Germany is enjoying an influx of qualified labor which will produce the goods that the country will export all over the world. And the education of these qualified youngsters was all paid for by the countries that now cannot afford to keep them. It's a win for Germany.

As I said, you can pay cash for your cars but that doesn't mean you understand what's happening in Europe.

So you were in my accounting class after all weren't you?

It would have behooved you to pay attention during class rather than drool over the chick at the desk next to you.

[Harpa Timsah 13,258]

Really Harpo? So you were in my accounting class after all weren't you?

Yeah, that was me and you got an F.

And accounting isn't economics.

Edited November 16, 2012 by Harpa Timsah

[Bad_Daddy 2,209]

Yeah, that was me and you got an F.

And accounting isn't economics.

Here's some economic wisdom that someone can also learn in accounting.

Say you have $5 to your name, yet you want something that cost $5,000. Johnny Loanshark offers to loan you the other $4,995 but only if you are willing to pay 25% interest on said loan. So what do you do? Do you take Johnny's offer or do you go without? If you go without you don't starve later on although you don't get that nice shiny object that you wanted.

[Harpa Timsah 13,258]

So Europe is already in debt. What do you do now? How do you pay that back?

[I AM NOT THAT GUY 5,715]

So Europe is already in debt. What do you do now? How do you pay that back?

The world's currencies will be flooded with new notes, and inflation will run rampant. Buy more ammo.

[Bad_Daddy 2,209]

So Europe is already in debt. What do you do now? How do you pay that back?

Greece has two choices. They can drop out of the EU and go back to the Drachma which means they would default on those loans but they wouldn't have to worry about paying them back or they can tighten their belts, make new laws in regards to banks and loans while riding this depression out and hope for the best. Both choices suck big time and I'm glad I'm not in their shoes.

[Harpa Timsah 13,258]

There are other ideas, the one being discussed in this thread.

[Bad_Daddy 2,209]

There are other ideas, the one being discussed in this thread.

If there was a third option it would have been discussed outside of this thread. Like the poster The Patriot pointed out if they were to spend more money they would have to print more money and that would bring on even a bigger economic crisis. The Euro is already taking a bashing and if they start printing more money now it won't be worth the paper it's printed on. It would be like circa 1920's Germany all over again.

[Mr. Big Dog 10,747]

Greece has two choices. They can drop out of the EU and go back to the Drachma which means they would default on those loans but they wouldn't have to worry about paying them back or they can tighten their belts, make new laws in regards to banks and loans while riding this depression out and hope for the best. Both choices suck big time and I'm glad I'm not in their shoes.

They could also start collecting taxes from the top who as of right now and for years and decades past have paid essentially nothing. And they still don't. They park their money in Geneva or just don't declare the income they have. Same in Italy. People live in beach mansions, collect yachts, drive Bentleys and Bugattis and declare that they make less than EUR 20K. And they get away with it. That's a good pice to the puzzle as to why these nations are bankrupt. And if we had elected Romney / Ryan, we would have been next.

[Bad_Daddy 2,209]

They could also start collecting taxes from the top who as of right now and for years and decades past have paid essentially nothing. And they still don't. They park their money in Geneva or just don't declare the income they have. Same in Italy. People live in beach mansions, collect yachts, drive Bentleys and Bugattis and declare that they make less than EUR 20K. And they get away with it. That's a good pice to the puzzle as to why these nations are bankrupt. And if we had elected Romney / Ryan, we would have been next.

http://www.cnn.com/2012/11/01/world/europe/greece-journalist-trial/index.html <----- That's a good piece on what your saying in that post. This guy got hosed but he later on got some redemption. You might have even read this same story.

[Harpa Timsah 13,258]

If there was a third option it would have been discussed outside of this thread. Like the poster The Patriot pointed out if they were to spend more money they would have to print more money and that would bring on even a bigger economic crisis. The Euro is already taking a bashing and if they start printing more money now it won't be worth the paper it's printed on. It would be like circa 1920's Germany all over again.

No, not the idea he had.

[Mr. Big Dog 10,747]

http://www.cnn.com/2012/11/01/world/europe/greece-journalist-trial/index.html <----- That's a good piece on what your saying in that post. This guy got hosed but he later on got some redemption. You might have even read this same story.

I read about him and I read a lot of these type stories. Posted one in the other thread here that I just ran across today. The degree of corruption and tax evasion in southern Europe is baffling. And here they go cut grandma's pension while the uber wealthy head over to Mykonos partying it up zipping on champagne that cost EUR 120K a bottle. I understand well why average folk in Greece and Spain and Italy are mad as hell. I just don't know why they're mad at Angela - they ought to be mad at their own elite who they owe this mess to.

[Brother Hesekiel 2,236]

Say you have $5 to your name, yet you want something that cost $5,000. Johnny Loanshark offers to loan you the other $4,995 but only if you are willing to pay 25% interest on said loan. So what do you do? Do you take Johnny's offer or do you go without? If you go without you don't starve later on although you don't get that nice shiny object that you wanted.

Depends on how you use the money.

If you only have $5 to your name and there are no jobs, but a buddy of yours offers to sell you his hot dog cart for $5,000 and while you were shadowing him for the past 2 weeks you learned that he takes home $250 net every single day, you do take the loan, even though the interest is rather high. I know I would. Only money makes money.