Greece illustrates how incredibly fragile the liberal world order has become. That one small, almost insignificant European country has the potential to wreak major damage on the entire world economic system is terribly frightening and gives lie to all the bombastic claims about claims to being the wave of the future.
Conservatives shouldn’t feel too bad about the Supreme Court’s decisions. It’s the liberals who are living a house of cards. If liberals were rational they would making alliances with conservative Christians, Third World Roman Catholics, Orthodox Christians and that favorite sector, the moderate Muslims to fight godless Communism and radical Islam. To paraphrase Casablanca, “I wouldn’t bring up transgendersism and gay marriage in Tunisia, where hotel workers tried to defend their guests with ashtrays and bottles against the ISIS gunman, if I were you. It’s poor salesmanship.”
But they don’t care, they’ll do it even though it costs them. Do it because there was always someone to pay for things; someone to fix what they broke. Therfore they will destroy Greece in order to save it as they will ruin Puerto Rico in order to prop up Democratic economic policies.
Greece – Give it back to Turkey
Puerto Rico – Set it free
Instead of Greece getting kicked out of the EU, let it stay and Germany should pull out.
Ship them huge bags of Monopoly money. Oh, wait…
The salient paragraph…
‘Saving these sacred cows will come at the cost at a high cost. George Selgin at Cato writes “if you think that the Fed isn’t involved in the Greek mess, you may want to think again. Paul-Martin Foss, our good friend at the Carl Menger Center, wrote a very nice post a few days ago concerning how the Fed may be getting itself tangled-up in an impending Greek default, through its swap lines with the ECB.”
According to the Federal Reserve Board of Governors, those swap lines were first established in December 2007 “to improve liquidity conditions in U.S. and foreign financial markets by providing foreign central banks with the capacity to deliver U.S. dollar funding to institutions in their jurisdictions during times of market stress.” … but then, in October 2013 — what do you know! — they were made permanent. … What has all this got to do with Greece? Here is Paul-Martin: “If you want to get a sense of the Fed’s involvement in Europe, watch the swap lines. … even if the Fed doesn’t say anything about Greece, its money-printing to pump up the swap lines will do plenty of talking.”’
Greece hasn’t had a balanced budget since 1973, that’s 42 years of ringing up the national credit card. No one pays taxes, and they had to get a satellite image of all the Athens backyard pool owners who didn’t pony up the info on their tax forms.
http://www.eurozone.europa.eu/media/367646/eurogroup_statement_greece_27_november_2012.pdf
Claiming Greece has a “balanced budget” and believing the deputy PM of Greece when he says “the debt is healthy and sustainable”.
I just posted a link and I will summarize.
The average person does not know 60% of Greece’s debt has been rolled over by the EFSF. In 2012 they decided Greece would not pay ANY interest on 60% of its debt for 10 years (until 2022).
Loan maturities were extended 15 additional years.
And this was based on the premise Greece would get billions from privatization and have a primary surplus of 4.5% for years (impossible).
Also, existing Greek debt is financed by the EU/IMF etc at lower than market rates and 75% of debt/bonds held by private citizens got wiped out (so this is erased from the debt, otherwise debt to GDP would be 200%).
So you really think this debt “is healthy and sustainable”?
Everyone knows it isn’t, so they’re taking punitive measures on Greece. Greece will not pay the money back, but in return it will be totally destroyed. And the current gov’t is doing the bidding of the foreigners. To be honest, they only know how to steal and lie, so they really don’t know what to do.
So they will inflate the problem away, because everyone knows they are not getting their money back. Which is in a sense incinerating your money, which is only slightly better than incinerating your bank clerks who can’t stock the ATMs.
So the “Greek salad days” aren’t coming back any time soon, but I would venture to say that some hardworking tourists might find some mighty cheap vacation spots for the holiday season, in between the occasional rioting.
Cheers
Hans Rupprecht, Commander in Chief
1st Saint Nicolaas Army
Army Group ‘True North’
New York Times World
“Trillions spent, but crises like Greece’s persist”
I was going to offer some snarky, scoffing comment but I cannot think of anything that would do justice to the depth and breadth of the ignorance and arrogance behind that headline.
I crossed the nyt (aka: the old dead grey lady) off my list of reputable sources many years ago. They are occasionally, accidentally funny, but I prefer my humor from a source that doesn’t lie when the truth is easier.
Didn’t the NYT say something similar a while back, like “Crime rate sinks despite increased incarceration.”?
Excellent. They want a referendum on paying their bills. They learned well from the socialist frogs in Queerbec. My only wish is that they DO tell the rest of the EU to frick off. But no hope of that happening. The Greasers are too public service/pensions for that (read public pensions). Shoulda let the Germans win! Nah. Screw them to if they are stupid enough to go for a one government world. So what’s the mark worth these days….oppps, the Euro? May the muzzies grant the EU a slow death.
It did, indeed. Here’s more about it, and about the man who wrote the piece(s):
http://www.wsj.com/articles/SB10001424127887323482504578227664228137272
We are the point that no one question the morality of taking someone else money and throwing them liberally. No politician is loosing a sleep over institutionalized theft.
most politicians ain’t got a clue as t what is going on!!!!
Heard earlier today that the US debt clock had stopped ticking. Perhaps hit with a leap second bug.
Anyway, I looked, and it seems to be humming right along.
US Debt Clock
“No politician is loosing a sleep over institutionalized theft.”
If I was part of the institution, I wouldn’t lose sleep over it either because being part of it would mean I’m a sociopath.
When people say, “They should do something about xxxxxxx.” What they’re saying is that the people who allow and profit from xxxxxxx should be the keepers of those who do not.
From the point of view of the Elites: there are US(the Elites) and them.(the proles like me and you)
They(US Elites) want them(proles like you and me) to die so that we proles do not further use up the Elite’s earth and it’s easily obtained resources.
Any theft that occurs is either theft by the Elites or theft that the Elites get a good piece of from the *petite bourgeoisie. The Elites will deal with the petite bourgeoisie in their good time after the proles(me and you) are all taking dirt naps and it’s too late for the petite bourgeoisie to call on the proles for help.
*damn Marx for using these ridiculously outsized French terms, …and the Leftists wonder why there was never a mass grassroots revolution …feckwits!, If McDonalds had used such long convoluted terminology they never would have made it beyond that one hamburger stand
“Greece illustrates how incredibly fragile the liberal world order has become”
The liberal can’t see beyond the end of their nose. The EU forms a haven for wealth transfer (a Crony Capitalist dream) Greece has had most of her wealth flee into other EU markets. That is how a Global Market works, we export manufacturing & Jobs
The stupid Marxists are seeking a One world UN Government that will divide them into functional & dysfunctional ghetto’s, then over the edge into the abyss. The Crony Capitalists have always been in Brussels
end of comments?
My 2 cents worth-
Obama celebrates gay marriage Friday,
World goes bankrupt Tuesday.
Hang on to your hats, its gonna be a wild ride..
a rational analysis of letting Greece sort out their problems would show even a simple minded person that the situation could not bring down the world economy. Greece is not big enough and they do do owe enough to destroy the world. America on the other hand……
amazing how don’t becomes do do.
Au contraire. Retake Byzantium!
Add Ukraine to the list of countries who figures everybody else should pick up the tab.
Not sure where I saw this joke …
A Greek, an Italian and a Spaniard walk into a bar. Who picks up the tab?
The German.