Greek myths

[Jovial Monk]

Ever been in Greece, boxy?

[boxy]

Ever gone Greek, lefty

[Neferti]

Ever gone Greek, lefty

[Jovial Monk]

So you haven’t. So you don’t know what you are talking about.

[Jovial Monk]

Still MORE harsh demands on Greek govt & people:

Troika Demands 38 New Changes in Greek Tax, Spending and Wage Policies in Next 6 Days

The hit parade of demands on Greece keeps right on marching. The Troika has 38 new demands in addition to 10 pages of prior demands that have not been met.

The ten-page list of prior demands need to be met by the end of the month. Fortunately this is leap year so Greece gets an extra day.

http://globaleconomicanalysis.blogspot. ... greek.html

[Leftwinger]

Rubbish. Advocating the status quo is just throwing good money after bad. Despite your ignorance, there is no endless bucket of money but I'm sure you would fit in well in a regime in Zimbabwe where you can revel in your trillion dollar bank notes that wouldn't buy a 5 cent lolly

I'm sorry Lisa - you simply don't understand the monetary system, Euro, fully sovereign (such as Australia) or anything else. Your comments have no basis in reality. Your comment regarding Zimbabwe serves to reinforce the fact that when it comes to this "you're not very knowledgable, are you?" - as I seem to recall you being fond of saying.

They want govt jobs that pay a fortune, have early retirement and massive pension schemes...unionized shit that got them into trouble in the first place.

Well I'll defer to you cultural experience in the matter - but I would have thought that with unemployment now passing 20%, they just want jobs, full stop. If you understood the monetary system, you would understand that austerity is crushing the prospect of job creation in both the public and private sectors.

So, this austerity thing - when is it gonna start working for Greece? When are we going to see strong growth, jobs growth, rising standards of living? When is Greece going to start "becoming competitive" as a result of the fiscal squeeze and the flogging off of every national asset to international predators and parasites? I mean, for God's sake it has to start working soon?

[Leftwinger]

The thing is, money is only worth what it is agreed to represent... and it represents real, physical resources... gold, iron, labour, infrastructure... they all have an agreed monetary value.

Then I suggest you try extinguishing your tax obligations to the government in gold, iron ore, bartered services or the Sydney harbour bridge and see what happens. You will find they accept one medium and one alone - the very same dollars that they themselves created in the first place.

In fact, try handing over a lump of iron ore at the checkout and see how far you get. You might have more success with gold - but this is because it can be readily exchanged for Australian denominated finacial assets (money), which can in turn be exchanged for any number of useful things. Your employer agrees to pay you money because the product of your labour can be exchanged for more money, and so on. None of these things have a fixed, unchanging monetary value.

None of which changes the fact... money is useless without it's agreed upon representation of real world value.

The thing we call money carries rather deeper significance than you are ascribing to it.

Bullshit. Money is only good for representing wealth.

If your wealth can't buy you real stuff, in the end it's useless to you.

Tampering with the amount of money only changes how much of these resources each pebblecoin can buy.

Are you arguing that net money creation by government automatically equalls runaway inflation?

In the context of a fucked up economy, yeah.

Not every nation can be equally successful.

Well, certainly not every nation can be an export-led economy, otherwise there would be no one else to export to. I think the definition of success might be a little broader.

Yeah, sure. Economies can be successful while being self sustaining, and living within their means. Maybe the Greeks could try that? If they don't want to pay their bills, they mightn't have a choice.

But, if you want my opinion, encouraging their population to continue to demand "their entitlements", regardless of it's cost, is doing nothing but encouraging the core problem for the western world.

Which entitlements are you referring to? They want JOBS. Jobs that pay a decent living wage - and that ain't gonna happen to any great extent under the weight of what is being enforced upon them.

Their entitlements to ipods and junk food, a TV in every room, hooked up to a playstation and broadband internet.

Are you trying to make some particular point among that inane drivel?

[IQS.RLOW]

I see you have offered up nothing except for "you don't understand- govt should go on spending as much as they like even if money in is far less than money out for decades because the alternative means fiscal responsibility which I have no clue about"

Go get yourself another credit card to pay off your old one

A govt cannot spend their way prosperity no matter how stupid you may be, you economic retard. That's what the piigs have been doing in following your doctrine and look where it got them

Typical lefty mentality.

[Leftwinger]

IQ, if you could shit before an exam, it would lower your IQ so much that you'd fail.

I haven't the patience that others have to go over these things ad infinitum. But maybe you could give me a projection of when the arse-raping of Greece can be expected to start delivering solid growth?

BTW, the guy in the link that JM posted - Mish Shedlock - I despise him. He's a union-bashing right winger. But that doesn't mean that I disagree with everything he says. I even think he says sensible things fairly regularly. He has been saying for some time that the conditions being imposed on Greece won't work - I agree. And I'm inclined to agree with his suspicions in this article - Germany is trying to force the problem child Greece out of the family, by demanding ever harsher austerity measures, measures impossible to comply with, without ripping the country apart.

The question is - why won't the rest of the PIIGS follow suit sooner or later?

[IQS.RLOW]

Greece and the piigs deserve an arse raping

Led by leftwing losers, they have managed to fuck their economy thinking, like you that there is a never ending gravy train of money printing.

Get used to it, because conservative austerity measures are the only saviour from the leftwing brain dead like yourself who think that spending money to make money works in a govt environment. It doesn't and never will