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Americapox: The Missing Plague

Babymech says...

There is something innately fascinating in finding technical, biological and economical explanations of historical developments, and it's definitely so much more satisfying than having to resort to nationalism, racism, or religion to explain one region or another's successes.

The risk, I guess, in treating human history as a set of engineering problems, is that the human mind is so attuned to finding cause and effect that it might make us a little blind to situations where the answer is actually more blind chance than anything else.

One of my favorite of these explanations is when China's 'failure' to colonize the world is attributed to the success of porcelain: https://www.youtube.com/watch?v=N0OhXxx7cQg

It seems almost too neat to be true - like the false etymology of Marie est malade - so does anyone know if there are scholars who poke holes in the Porcelain vs Glass explanation?

Edit: Improving my googling shows that this explanation remains reasonable but still also involves a bit of blind historical chance. Colored glass was available in ancient Greece, and the Romans and Egyptians used manganese oxide to decolor it, which led to transparent glass and the basis for lens-grinding... that decolorization process apparently didn't pass on to China or wasn't valued by their culture, perhaps due to the clear competitive advantages of porcelain.

Enzoblue said:

I read Guns Germs and Steel cover to cover, was fascinating

newtboy (Member Profile)

Syntaxed says...

I meant not to be particularly argumentative, only contradictory. However, I feel that I have been forced into the position to return fire with fire, as it seems you lack the capability and or willingness to discuss something without attacking me, spewing meaningless information, circumventing reason, and drawing up arse about face codswallap for your conclusions.(Look mommy, I can curse to!!!!!!!)

Firstly, I should like to address your attacks against me...

Fox bubble? My god, were I to force myself to absorb and process information from such a low level of news broadcasting, I would reel in shock from the incursion into my sanity. Luckily, however, I live in the UK, and had to research Fox on Google to even understand the reference.

Now, to business.

The investigation.... a Red Herring?

http://www.dailymail.co.uk/news/article-3299310/Benghazi-probe-Hillary-Clinton-facing-months-FBI-investigation-emails.html

http://www.thefiscaltimes.com/Columns/2015/10/27/How-FBI-Could-Derail-Hillary-Clinton-s-Presidential-Run

http://dailycaller.com/2015/10/22/fbi-director-im-following-very-closely-the-investigation-into-hillary-clintons-emails-video/

http://www.dailymail.co.uk/news/article-3275919/Investigation-Hillary-s-email-server-focuses-Espionage-Act-10-years-jail-FBI-agent-says-prosecuted-jus
t-failing-tell-Obama.html

https://www.washingtonpost.com/politics/fbi-probe-of-clinton-e-mail-expands-to-second-data-company/2015/10/06/3d94ba46-6c48-11e5-b31c-d80d62b53e28_sto
ry.html

Research, see? Useful. For finding stuff like....INFORMATION.

Socialism:

http://fee.org/freeman/why-socialism-failed/

https://mises.org/library/greece-illustrates-150-years-socialist-failure-europe

http://www.cnbc.com/2015/07/01/greek-disaster-is-all-about-socialism.html

http://townhall.com/columnists/johnhawkins/2014/02/25/5-ways-socialism-destroys-societies-n1800086/page/full

http://www.cato.org/publications/commentary/why-socialism-collapsed-eastern-europe

https://en.wikipedia.org/wiki/Socialism

Bit of light reading, don't worry, I am getting to a point...


"Mischaracterization of Obama's record" ??????

http://healthaffairs.org/blog/2015/06/25/six-problems-with-the-aca-that-arent-going-away/

http://www.fool.com/investing/general/2015/06/07/problems-with-obamacare-that-could-prove-difficult.aspx

http://dailycaller.com/2015/06/09/so-long-as-you-ignore-the-problems-obamacare-is-perfect/

http://www.huffingtonpost.com/news/obamacare-problems/

http://www.newsmax.com/Newsfront/obama-poll-disapprove-isis/2015/08/21/id/671190/

http://theweek.com/articles/589272/obamas-isis-failure

http://www.martinoauthor.com/list-obama-failures/

https://www.gop.com/obamas-biggest-failures/

Next, get a First Class Honours Masters Degree in Psychology from the University of Cambridge, and then spent five years of your life convincing rich people to give your bank their money(My job, by the way), carefully analyze anything Obama says about anything important, then come tell me my observations are "ridiculous" and "beyond contradicting".

As for Trump? Sure, all political candidates are devils in disguise. However, why don't you try to turn a mere million into a multi billion dollar empire and say you cant do anything for the economy?

You know how you get rid of 11 million people?

1. Dont let anymore in...

2. Ship the rest out with the Federal resources you already have...

3. Smile, because you just saved your bloody country:

http://dailycaller.com/2015/09/14/americas-heroin-epidemic-fueled-by-flood-of-illegal-immigrants/

http://www.judicialwatch.org/blog/2015/04/isis-camp-a-few-miles-from-texas-mexican-authorities-confirm/

http://www.thenewamerican.com/usnews/crime/item/20678-report-with-cartel-help-isis-crossing-border-from-mexico

http://www.breitbart.com/big-government/2015/09/25/mexican-cartel-sicarios-crossed-texas-kidnapped-u-s-citizen/

http://www.nationalreview.com/article/414969/mexican-drug-cartels-caused-border-crisis

http://www.laht.com/article.asp?ArticleId=379605&CategoryId=10718

How do you make Mexico build a wall?

1. Stop official trade with Mexico until they give up and build it.

Wow... That was easy...

As for making China ignore our debt... Basically impossible, but that's who's fault?

Obama got you blinkered people into $18 Trillion dollars of debt with his hysterically shoddy plans, I can't believe no-one is smart enough to realize that simple and plain a truth.

No way on Earth his plans would even be tried? He is the Republican frontrunner... By popular poll.

You tried Obama's plans, and his bloody approval rating is (http://www.gallup.com/poll/116479/barack-obama-presidential-job-approval.aspx). Its about time you Americans experienced some success in the world, don't you think?

Sod it all, I am tired, I could say more, but I await your response. May I request that you refrain from using vulgar language in response to an amicable post? As you can see by the content of my article here, I can be a ripe-mouthed cur, but is it truly necessary?

newtboy said:

WTF?!? "Tangible plan"? What on earth could you possibly mean by that?
The "plan" to round up over 11 million people and deport them, but with zero details about it?
The "plan" to make Mexico pay to build a 2500 mile wall, with zero details about how?
The "plan" to illegally deny fugitives entry to states because, you know, Muslims are bad...MmmmK?
The "plan" to skew the tax system even more in favor of those in the top 5%, to the detriment of the middle and lower classes?
His "plan" to be a smarmy, dickish, douchebag to anyone that isn't in his camp...but also to completely control those people to make them do exactly what he wants...again with zero details how he plans to do so?
The "plan" to force China to...I don't know...ignore all our debt and treat us like the boss we are?

As for Clinton's being 'currently under Federal investigation by America's FBI department.'...the "email scandal" has, just like Benghazi, turned up absolutely zero illegal behavior and is nothing more than a red herring designed by the (absolutely not) "conservative" side of our political system, has gone absolutely no where, and only matters to people who would NEVER have voted for her in the first place...if you think differently, you really need to get out of the Fox bubble and look around at reality for a bit.

Little could be more disastrous for the country than having that vitriolic humanoid pumpkin as our 'leader', since the only successful leading he's ever done is leading people to hate each other, and leading far more people to hate HIM. He's a fairly terrible business man, successful only due to starting with a "tiny loan" (his words, really more of a gift from daddy) of a million dollars and being forced to allow others to take control of his investments. He's a bold faced liar, in fact the truth does not seem to be palatable to him in the least....and he's clearly admitted that in his books and sees it as a good thing to hyper exaggerate and minimize. He's a 'good Christian', who's been divorced how many times? There's no way on earth his plans would even be tried. He (and other republican candidates) don't even have a grasp of what the president does or how, claiming they'll 'repeal the ACA on day one', and they'll discard multiple government departments...somethings the president simply CAN'T just do...along with most of their other ridiculous, impossible 'plans'. They all know they wouldn't actually have that power, yet they all lie to you and tell you they will do the hateful things they've convinced you are the right thing to do by themselves. Fortunately our system is designed so that one nutjob, or even one party of nutjobs can't change laws precipitously.

I hate to tell you, but Bernie Sanders is not excluded for being honest and knowledgeable. ALL candidates are socialist, he's just honest enough to admit it. Tax breaks for the rich...socialism. Bailouts for the airlines and banks...socialism. Social security...socialism. Medicare...socialism. "jobs programs"...socialism. Public parks...socialism. Public roads...socialism. Need I go on?

Your mischaracterization of Obama's record is so patently ridiculous it's not worth contradicting.

robert reich debunks republican deficit hawks-austerity 101

dannym3141 says...

There are far better qualified and knowledgeable people on here (@radx) who could explain that, but i'll try and explain why the video isn't bullshit.

Let's say the government spends a certain amount of money to build a road. That money goes a lot further than you think it does.
- whoever you pay to build it pays taxes on what they earn
- same for whoever you buy the materials/machinery from
- the road will probably be used by individuals and businesses spending money, so you've made that easier for them
- businesses stay afloat and keep trading, people's skills/training are not lost as they become unemployed
- saved yourself a whole bunch of money you would have had to spend in unemployment welfare

Because governments are not like people, they CAN spend money they don't have, to buy things that save them money! It's a simplistic analysis of a road and i'm no road building expert, but the term is "fiscal multiplication" and is used by governments to evaluate an investment. Governments are not like households, they can borrow £1.00 and get £2.00 back from it or more. For example over here in Britain there is a significant housing shortage, and one way of resolving that is by borrowing to invest in affordable & social housing. I think it was suggested that for every £1 spent on house building generates £2.50 back into the economy.

America is a sovereign nation that issues its own floating currency. Greece was not. There is no chance whatsoever of America, UK, Japan etc. becoming like Greece. Anyone saying that's possible is either scaremongering or heard it from someone who was.

I'm not saying the money has been spent or invested correctly, corruption and cronyism is rife in western politics. But that's an argument against government corruption rather than one against investment and debt. This isn't the first time we've tried austerity, it also isn't the highest debt-GDP ratio has been either for the US or the UK. The lessons of history have been you can't cut your way to prosperity, you have to invest towards it. That's the weight of economic thought right now afaik.

bobknight33 said:

What utter Bullshit - just a Republican hit piece. Over spending year to year is one thing , especially in this poor economy. What is more importantly mentioned is our federal debt. Over the last 7 years we went from 9 Trillion to 18 Trillion and nothing to show for it. Its off the Fucking rails.

Instead of government spending on their buddies, union favors it would have been better to loosen government regulations to stimulate jobs.

Roads and bridges -- Fuck, Obama been using that line for last 7 years and with 9 trillion spend every fucking road should be paved in gold.

I'm not solely blaming Obama/Democrats. The Republicans are just as guilty for allowing this to happen.

Since 2000
Our GDP is up 87%
Our total US Debt is up 147%
Every taxpayer owes $154K
How much more debt can we take on?
How many more years of this before we turn into a GREECE?

*lies

robert reich debunks republican deficit hawks-austerity 101

bobknight33 says...

What utter Bullshit - just a Republican hit piece. Over spending year to year is one thing , especially in this poor economy. What is more importantly mentioned is our federal debt. Over the last 7 years we went from 9 Trillion to 18 Trillion and nothing to show for it. Its off the Fucking rails.

Instead of government spending on their buddies, union favors it would have been better to loosen government regulations to stimulate jobs.

Roads and bridges -- Fuck, Obama been using that line for last 7 years and with 9 trillion spend every fucking road should be paved in gold.

I'm not solely blaming Obama/Democrats. The Republicans are just as guilty for allowing this to happen.

Since 2000
Our GDP is up 87%
Our total US Debt is up 147%
Every taxpayer owes $154K
How much more debt can we take on?
How many more years of this before we turn into a GREECE?

*lies

Last Week Tonight with John Oliver - Migrants and Refugees

newtboy says...

There's something wrong with all those pictures...all of those camps are almost completely empty. What's the story with that? There must be a reason...such as those staying there are not allowed to work, but must still pay for food and services, or something else untenable. People would not be paying thousands of dollars for a chance to take their familys on an overloaded rubber raft across dangerous waters and continuing on a dangerous voyage through hostile countries to unknown possible places of refuge if there was a reasonable, safe place for them on the border of Syria.
Also, to be sure, tent cities are less than ideal in Southern Turkey where the temperature is often deadly....but they are better than nothing.
I'm not sure, beyond the smugglers getting them to Greece and food on the trail, what the Syrians might pay for that helps them reach Europe. The train tickets they're buying don't cost much, do they? Certainly not the thousands they pay the smugglers....but perhaps paying the smugglers is what you mean.

aaronfr said:

I'm fine with your other points, but you really think there are not working, funded refugee camps in Turkey?

An_Aerial_View_of_the_Zaatri_Refugee_Camp.jpg

http://sheldonkirshner.com/wp-content/uploads/2014/10/Turkish-refugee-camp-for-Syrians-e1413585834309.jpg

http://msnbcmedia.msn.com/j/MSNBC/Components/Photo/_new/pb-120411-syria-refugees-ps2.photoblog900.jpg

Are they amazing? No, but I've never stepped foot in a refugee camp that was (and, yes, for the record I have visited several). Compared to the 30-year-old jungle camps on the Thai-Burma border, these places look pretty well outfitted. They clearly have the infrastructure, support and funding to serve the populations that are there.

What they don't have is the economic infrastructure to allow for good, rewarding work for these refugees. Of course, that is generally the situation for every refugee population. The biggest difference here is that some Syrian refugees have the financial resources to reach Europe whereas most refugees in other parts of the world don't.

Last Week Tonight with John Oliver - Migrants and Refugees

newtboy says...

OK.
Point 1. I do agree, the inability of many migrants to assimilate to their new homeland, and to expect the new land to change to suit them, is an issue...one not limited to Muslims, but one they certainly share.
Point 2. I would say 'asylum' does not exist if one must wait 5 years to even APPLY for it, and during that time must not work. That's ridiculous, just like saying they're running from asylum to asylum. They are moving to where they believe they might be able to eat, and maybe live outside a small, overcrowded cage. If honest, working refugee camps were to be erected in Turkey on the borders, funded by the EU and others, most of the refugees would go no farther...but that hasn't happened...at least not in any working way for the numbers coming.
I won't assume there's much 'insertion' of non-refugee migrants in the masses, they would have to travel across numerous closed borders and through numerous wars just to join the group...I don't think that's happening. Maybe a few that crossed the Mediterranean to Greece, but that's not many if any.
Point 3. Yes, the numbers are overwhelming. That does seem to be a good incentive for the EU and America (and the other Arab nations), and eventually Russia to do more to stabilize Syria, however, and also a good incentive for them to create systems to deal with these people while treating them as people.
Obviously, though, the only permanent solution is to stop them from being forced out of their homeland. No?

vil said:

3 things, I may have mixed them a bit......
^

Last Week Tonight with John Oliver - Migrants and Refugees

vil says...

3 things, I may have mixed them a bit.

1 - past experience specifically with muslim migrants (some may have been refugees) in Europe - overall not great, mostly they consider our social system and political correctness as signs of weakness. They consider themselves superior, the first generation may be grateful for a better life than back home but the second and third generations feel superior to non-muslims (especially jews and atheists, but also christians) and entitled to benefits while hating the secular state. Will the current and future waves accomodate better? This has nothing to do with our imperative to help those in need, it is a practical problem. Also not racist - although I do admit racism and xenophobia are a major problem in many parts of Europe and trouble me very much in my own country. More so than the Vietnamese or Ukrainians or people from the Balkans "these people" organize in clans and tribes and will try to impose their view of the world on us, who organise in tiny families and on facebook. Albanian thugs are well organised but they dont hold the view that everyone else should be an Albanian thug too.

2 - current wave of migrants and refugees - lets assume we are talking only about real Syrians boarding boats in Turkey trying to reach Greek islands and not people from all over north africa trying to reach Italy or anyone else trying to reach the EU (possibly pretending to be Syrian). So we have this exemplary Syrian family which has run away from a war to Turkey. They are safe there, only they have to either stay for a couple of years in a refugee camp before they can try to find work or they have to survive in a grey economy sort of like Mexicans in the USA. They know that if they dont apply for asylum in Turkey and manage to set foot on EU soil they can ask for asylum there and be treated better than in Turkey. So these boat people are actually not running from war to asylum but rather from one asylum to another. They make sure not to stop in Greece or Croatia or Austria or Hungary but head for Germany or Sweden. Mostly I believe they have no idea of political geography but they have mobile phones and friends who have already made the journey and know how to milk the local system. So for purposes of compassion they are refugees and totally need our help but from a clinically economic (yes, materialistic) point of view they are very much migrants. Migrants we feel obliged to help because they are sort of refugees too.

3 - the mass and speed of the exodus means we are stretched to accomodate them and they will later start to passionately hate us because Europe will not be the heaven they expected it to be.
A few thousand refugees every year are no big deal even for a small EU state. Hundreds of thousands will be very difficult to take care of in the entire union. Inviting more is just irresponsible.

The good news is that the real Syrian refugees who make it to Europe will probably be the more resourceful, better educated part of the current wave of incoming people and will be able to take care of themselves fairly quickly by my estimate. Also they are mostly variants of Shia - the less orthodox branch of muslims. I am worried more about future waves than the current one.

Maybe we have messed up a bit but we need to learn from our mistakes, and even Germany is now guarding its borders. It would be better if we were able to guard the Shengen perimeter.
Then if we wanted to save more refugees we could send trains or planes to pick them up in Turkey or Jemen. You know, set up an EU consulate there so they could directly apply for asylum in the EU country of their picking. But we have to make a conscious decision first - how many people from the desolate and failing parts of the world do we want to save over a given time period so that we dont fail ourselves. Are we failing? Ask the jewish families who used to live in Malmo until recently.

newtboy said:

Please explain to me how you know that these people fleeing near certain death in an incredibly destructive and deadly civil war are 'mostly migrants' rather than refugees. I've heard that line before, but never a word to back it up.

Last Week Tonight with John Oliver - Migrants and Refugees

radx says...

I take issue with the part about birth rates and the 35-year population forecast.

Firstly, the premise that we (Germany) need to stabilise our population level stems primarily from the depopulation of parts of the country, the north-east most of all. However, the cause is not low birth rates. It's urbanisation, which is part and parcel of capitalism. Everything gravitates towards the centres while the rest becomes hinterland to be exploited for resources.

Secondly, population forecasts turn into horseshit real fast. If we were to look at a 35-year forecast created in 1980, we'd miss the reunification, the breakup of Yugoslavia by NATO, about a dozen wars in the Middle East and the destabilisation/desolation in large parts of Southern Europe. Nevermind the EU with all its freedom of movement agreements that were recently suspended.

If we had made a 35-year forecast in 1910... well, you get my point.

Thirdly, Europe is not a singular unity. Our ongoing assault on the economies of Southern Europe (aka austerity) lead to a mass exodus already, Same for the Baltic countries. Unfortunatly, those countries who lost a significant portion of their young and educated over the last years are also the countries who are least equipped to deal with mass immigration in an orderly fashion.

Which brings me to my fourth point: many folks make the argument that we cannot possibly pay for the integration of 800k refugees, much less for 400k a year. Well, we payed for reunification in the most inefficient, corruption-inducing and anti-social way imaginable by piling the cost exclusively on our version of social security. And you know what? It still fucking worked. If Germany can shoulder the cost of reunification, the EU can pay for 2-3 million refugees. End of story.

Finally, we need immigration. Not to maintain population levels, not to even out low birth rates. We need it to not become too homogenous, especially Germany. Too much consensus, too much group think, not enough confrontation and cultural diversity. Shake things up before people start believing their own bullshit again about their own superiority. We've seen it already vis-a-vis Greece.

@eric3579

Does the Polish Six Flags guy look familiar? It's the very same racist imbecile who described the plan to create a unified driver's license across Europe as "Ein Reich, ein Volk, ein Ticket" while doing the Nazi salute.

I'd rather have a thousand Syrian refugees than people like him.

Understanding the Refugee Crisis in Europe and Syria

radx says...

This comes up a bit short on some issues.

For instance, the ongoing drought in the Euphrates-Tigris area pushed people in Syria into the cities, adding pressure to already overstretched infrastructure.

Also, what about the West's glorious idea to run illegal wars of aggression in Iraq and Libya, which destabilized the entire region? Nevermind Afghanistan or the bombing campaigns in Pakistan, Somalia and Yemen. What about the gulag that is Palestine? What about the economic consequences of our obsession with free trade, taking away from developing countries the ability to protect and nurture their own industries? What about our subsidies of farm exports, thereby undercutting local farmers and destroying these peoples' ability to feed themselves?

All of these countries have heaps of issues of their own, but let's not forget that "we" not only didn't help, but actively made things worse in many cases. As cities drain resources from the hinterland, so do our centers of capitalism drain resources from developing nations. They are our hinterland.

Yugoslavia seems to have been forgotten by most people, but the split and following neoliberal treatment left the entire area in a state of instability. Kosovo today is basically run by organised crime.

So, as horrible as Assad's actions are, very few countries are in a position to offer meaningful criticism, having pissed away what little moral authority we had to begin with.

And as far as legal responsibilities towards refugees go, I'd say after torture, wars of aggression, global espionage, a stateless people in Europe (Roma/Sinti), destruction of a society (Greece), an openly xenophobic regime (Hungary), etc, it shouldn't come as a surprise to anyone that "rights" are meaningless unless actively enforced by someone with the required amount of power.

Look at Calais, look at Lesbos, look at Lampedusa, and tell me all about our European morals and values...

Written by the grandson of a man whose family fled from Silesia in '45 with nothing but two bags and walked all the way to Lower Saxony on foot.

radx (Member Profile)

oritteropo says...

That's certainly possible, but I can think of other plausible explanations:


  • Spain's problems mainly involved real estate and non-productive investments. Maybe Greece was doing a better job of employing the borrowed funds, and therefore lost more with their removal?
  • Spain's austerity program started in 2010, their bailout was in 2012 but they left the program in January 2014. You can clearly see the dip in GDP during that timeframe, although as you say it does seem suspiciously small. Perhaps the effect of austerity was actually greater in Greece because the initial recession was deeper and the period of austerity was greater?
  • Spain's economy is more export focused, which helped offset the impact of reduced domestic demand (although at 33% of GDP vs 28% of GDP it's not enough).

radx said:

Take a look at these two charts, if you have a minute.

Spain: left scale is GDP (green) and industrial production & construction (black), right scale (inverted!) is unemployment rate (red)

Greece: same data, same scales

Unemployment tracks industrial production & construction in Greece and Spain, as you would expect. And so does GDP in Greece, but not in Spain.

Why?

It's too big a difference to not wonder if someone's fudging the numbers here to make it like austerity did the trick for Spain.

oritteropo (Member Profile)

radx says...

Take a look at these two charts, if you have a minute.

Spain: left scale is GDP (green) and industrial production & construction (black), right scale (inverted!) is unemployment rate (red)

Greece: same data, same scales

Unemployment tracks industrial production & construction in Greece and Spain, as you would expect. And so does GDP in Greece, but not in Spain.

Why?

It's too big a difference to not wonder if someone's fudging the numbers here to make it like austerity did the trick for Spain.

oritteropo (Member Profile)

radx says...

Yup, I've seen similar graphs (different base, same result).

If you were to add projected GDP based on previous growth to it, you'd need a drink. If you further added a rough guesstimate of lost output potential due to constant underutilisation, you'd need to make it a double. And if you were to extend it to the entire eurozone and just look at the aggregate of lost output, you might as well keep the bottle at hand.

It'll take decades to undo this damage. Given the precarious situation of young folks in a significant number of countries, I'm not convinced the union will exist for much longer.

Just look at Greece: according to Costas Lapavitsas, some 80% of youth votes in the recent referendum were "no". Now their government intends to subject them to even harsher terms -- that's not sustainable.

oritteropo said:

Had you seen the graph in this article comparing the Greek recession with the great depression in the US? http://www.bbc.com/news/world-europe-33590334

radx (Member Profile)

oritteropo says...

I don't think they have much choice really, they can either offer debt repayment extensions as a favour to the Greeks, or they can have a default from Greeks who can't make repayments... the only difference is the amount of good or ill will involved, and possibly penalty payments.

The treaties don't currently allow for a country to be ejected from the Eurozone, so I don't see what they could do if Greece simply refuses to make payments until they have the money. The trick would be to wait until the banks are on a more stable footing before starting that tactic.

radx said:

Unclear.

A straight-up haircut is not an option. An extension of maturities, a stretching of repayments and waving of interest could have worked quite handily as late as two months ago. But ever since this idea was picked up by others, ever since it was explained in some detail how small of an effect it would have on our national budget, the usual suspects went into overdrive to hammer in the notion that it's still a loss to the tune of €XXb. The argument that it would be a measily €1-€1.5b a year, with a slight uptick to €3b in 2026 or something was burried under a huge pile of fear mongering.

Not sure if you can put enough make-up on this pig. Lots of folks went all-in with their demonisation of any form of debt restructuring. Especially when it's a "solution" Varoufakis has also argued for.

eric3579 (Member Profile)

oritteropo (Member Profile)

radx says...

Something I meant to write the other day: the IMF dilemma has become quite intriguing over the last couple of days.

The latest IMF report, though still based on outlandish assumptions, marks a sizeable debt restructuring as a requisite for further involvement of the IMF in Greece. Germany, on the other hand, rules out debt restructuring of any kind, and haircuts in particular. However, Germany also insists on the IMF's continuing participating in the Troika, because a) noone else has the capacity to provide Orwellian monitoring of a countries' financial actions and b) to provide economic credibility. Of course, having a non-European patsy is always a good idea.

Nevermind the fact that the report was available prior to the last deal and held back intentionally -- I'm curious who's going to give way in this matter.

The IMF cannot back down much further without its members going apeshit at this disaster. They want no share of the blame that will inevitably be thrown around in good amounts once Greek reaches the end of the road. And Germany... well, constant propaganda has pretty much made sure that neither public nor parliament will accept any restructuring, unless it is plastered with a whole lot of make-up and maybe a Sideshow Bob hairpiece.



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