tag:blogger.com,1999:blog-3758330678390419129.post6705817112478976122..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: What Greece Should DoRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger23125tag:blogger.com,1999:blog-3758330678390419129.post-57111950638101676092012-10-10T11:48:29.029-04:002012-10-10T11:48:29.029-04:00All the Americans are doing is living off the rest...All the Americans are doing is living off the rest of planet earth. Is it not any wonder the Greeks picked up on the idea. It is bound to end in tears. But just when is anybodys guess. They keep kicking the can down the road.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-54986250668152184592012-06-06T00:58:51.811-04:002012-06-06T00:58:51.811-04:00Until we stop trusting the gov't--any gov'...Until we stop trusting the gov't--any gov't to decide what 'needs to be done' and simply decide ourselves how to run our lives, whether or what to use as currency, we will have no peace.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-77586913626857080122012-05-31T15:09:17.255-04:002012-05-31T15:09:17.255-04:00I have a little chuckle every time I hear the term...I have a little chuckle every time I hear the term "Greek Bailout". <br /><br />Nothing going on in this Greek Tragedy is about bailing out Greece - or even helping Greece.<br /><br />It's entirely about bailing out the idiots who lent too much money to Greece, and face ruinous consequences if Greece defaults.<br /><br />The fools are working desperately to not be parted from their Roy Cobdenhttp://roycobden.blogspot.comnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-50557476768790480152012-05-31T09:14:13.688-04:002012-05-31T09:14:13.688-04:00Here is an idea, default on all debt & make go...Here is an idea, default on all debt & make gold/silver the official currency of the state while allowing private currencies to compete.Matthttps://www.blogger.com/profile/00492483558319742535noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-47639915895151698512012-05-31T00:15:38.530-04:002012-05-31T00:15:38.530-04:00this guy is an economic idiot....thanks for the la...this guy is an economic idiot....thanks for the laughsAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-8782705715641050102012-05-30T21:06:03.915-04:002012-05-30T21:06:03.915-04:00Rob said: "But let's not be too hard on t...Rob said: "But let's not be too hard on the Greeks. We're doing the same thing over here."<br />In reality, as Porter Stansberry noted, the accumulated national debt, the shotfall of Medicare and Medicaid, Social Security, state debt, and personal debt amount to $700,000 per each man, woman and child in America.<br />Can it ever be paid?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-63051958842561489882012-05-30T20:15:11.456-04:002012-05-30T20:15:11.456-04:00The Greeks should buy gold with their Euros & ...The Greeks should buy gold with their Euros & make the drachma a gold-backed currency.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-3659871784457694062012-05-30T18:45:10.952-04:002012-05-30T18:45:10.952-04:00Why doesn't Greece just pass a law (re)creatin...Why doesn't Greece just pass a law (re)creating the drachma and specifying that it is legal tender for all euro debts. That means, a 1000 euro debt could be paid off with either 1000 euros or 1000 drachma, whichever the debtor prefers. Then the Greek government could pay off its euro debts using drachma which (unlike the euro), it is allowed to freely print. Also euro bank accounts would be Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-86047592160453501762012-05-30T04:40:55.274-04:002012-05-30T04:40:55.274-04:00Why print money to pay public servants retrenchmen...Why print money to pay public servants retrenchment packages before liquidating state assets? Why not liquidate state assets and use the proceeds for the riot-quelling severance pay? Additional proceeds can go to non-state citizens. Any meaningful money printing will see such a fast exit from drachma cash balances that the whole reform programme will rapidly deteriorate into hyperinflation andRussell Lambnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-33845763155214741262012-05-29T21:13:20.615-04:002012-05-29T21:13:20.615-04:00robert: i see you had a couple of drinks at lunch....robert: i see you had a couple of drinks at lunch...Russellhttps://www.blogger.com/profile/03902582183935301142noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-35307072424999972912012-05-29T19:56:43.290-04:002012-05-29T19:56:43.290-04:00With the US dollar going down sometime, the Greeks...With the US dollar going down sometime, the Greeks may as well latch on to this turkey for a while. Should be no problem for Bernanke to print what they need. Let the presses roll.Scarlettnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-51267819209069993382012-05-29T18:20:42.059-04:002012-05-29T18:20:42.059-04:00au contraire, we need to be hard on them. It'...au contraire, we need to be hard on them. It's called tough love. Even love hurts at first, being screwed over several times, it won't hurt as much as they think it will.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-77982241670017825822012-05-29T16:24:32.441-04:002012-05-29T16:24:32.441-04:00Pie in the sky, Bob. If Greek politicians could mu...Pie in the sky, Bob. If Greek politicians could muster the cojones to tell the unions and pensioners that they're not going to get their benefits anymore, almost any plan would work. The problem isn't in the mathematics. It's in the will of the governors and the governed. The Greek public will ultimately lose all of their benefits because they are unwilling to give up part of them. Itrobbnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-10958867696837672422012-05-29T15:32:55.212-04:002012-05-29T15:32:55.212-04:00Drachma would have to be issued at probably 4 to e...Drachma would have to be issued at probably 4 to euro with 6 given within first week to those exchanging (drachma prob 8 to 1 internationally within week) Greece has 83billion in gold reserves (it is in much better condition than UK where Gordan Brown lost all its reserves) which it needs to sell for dollars to refinance its banks. Europeans and US etc buying Drachma's for holiday and trade Greekstevehttp://www.greekvillasforsale.comnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-3376316500923090542012-05-29T14:54:51.381-04:002012-05-29T14:54:51.381-04:00Forget it, it won't happen. Greeks is control...Forget it, it won't happen. Greeks is controlled by powerful public sector labor unions. Those folks will eventually find less pain in submitting to the Troika to keep their socialist paradise afloat, though with diminished entitlements. Michael Lewis summed up Greece best in his book Boomerang.<br /><br />"As it turns out, what the Greeks wanted to do, once the lights went out and Judy Morrishttps://www.blogger.com/profile/01012182127763652206noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-12805728752911151562012-05-29T13:27:08.350-04:002012-05-29T13:27:08.350-04:00Default on all public and private debt. Ban centra...Default on all public and private debt. Ban central bank. Divide country into 100 city states and islands. Ban all taxes and regulation at federal level.<br /><br />Can all be done before lunch tomorrow.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-16411785177392638722012-05-29T13:20:44.098-04:002012-05-29T13:20:44.098-04:00Greece will go from poor to destitute then. This i...Greece will go from poor to destitute then. This is the problem with today's adults: they don't want to go through the necessary pain for the opportunity of a better life. They can't see that today's policies are destroying wealth that took centuries to build. They think all the crap they have was wished into existence and took no capital, planning,immense hard work and creativity.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-57662662552012678162012-05-29T13:04:16.011-04:002012-05-29T13:04:16.011-04:00Nice, clear example of a plausible path to recover...Nice, clear example of a plausible path to recovery, Bob.<br /><br />I hope that cooler heads prevail, and ultimately take a path similar to what you lay out.John G.https://www.blogger.com/profile/09127952173210718830noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-36560955350534891402012-05-29T12:38:03.380-04:002012-05-29T12:38:03.380-04:00Yeah right... who would turn in their Euros for Dr...Yeah right... who would turn in their Euros for Drachma at that point? Also, it would be politically impossible to cut all of those benefit payments.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-41658557966188347462012-05-29T12:32:30.479-04:002012-05-29T12:32:30.479-04:00Don't forget to abolish their central bank.Don't forget to abolish their central bank.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-56132728118481099722012-05-29T12:28:26.988-04:002012-05-29T12:28:26.988-04:00Same as Greece returning to the Drachma and gettin...Same as Greece returning to the Drachma and getting off the Euro poison, in the U.S. there should be state currencies convertible into Fed Reserve bucks, or usable among the states(or whoever would take them). Some states are experimenting with metal backing, so their currencies could become very sought after if they were perceived to have real 'price stability.'Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-70194945299757921772012-05-29T12:21:56.520-04:002012-05-29T12:21:56.520-04:00the howls of outrage would be glorious to behold. ...the howls of outrage would be glorious to behold. But probably the Libyan example would be the outcome of such an occurance.Heathhttps://www.blogger.com/profile/15417060063126394938noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-58944536144731226172012-05-29T12:17:44.259-04:002012-05-29T12:17:44.259-04:00I like this train of thought. But why couldn'...I like this train of thought. But why couldn't they simply default and stay with the euro and implement things like those delineated above. Why will the other countries pick on them? Greece would become a better country to do business with in the future.Rigorousnoreply@blogger.com