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  • Yes, Greece Can Be Saved Within The Euro [View article]
    ["SU: The Netherlands are world's second largest exporter of agricultural products. Given the tiny physical size and high population density, this is a testament to the truly remarkable efficiency and productivity."]

    I'm aware of this, but there has hardly been any dramatic increase in efficiency or productivity. In fact, much of the economic commentariat in Holland is worried about the low tech nature of much of our exports..

    You seem to mix up levels with change. Yes, Holland and Germany have relatively efficient economies, but this doesn't explain the dramatic improvement in their trade balance the last decade, the stuff that I was referring to in an earlier comment above does.
    Mar 16, 2015. 03:04 PM | Likes Like |Link to Comment
  • Greece, Democracy And The Euro Constraints [View article]
    Well, in general, structural reforms are aimed at improving market working and austerity is aimed at reducing expenditures and/or hiking taxes, affecting the level of demand. Some policies can be classified as both, I agree.

    While I agree with many structural reform proposals, they're no miracle cure and austerity in the midst of a slump only makes it worse.
    Mar 15, 2015. 06:08 PM | Likes Like |Link to Comment
  • Yes, Greece Can Be Saved Within The Euro [View article]
    ["Furthermore, all the voices trying to prohibit Germany to export are ridiculous. People buy German products because of the quality. If other nations cannot compete, they must devalue"]

    1) Germany's trade balance was roughly zero upon entering the euro, now they have a 7.5% surplus. There hasn't been any spectacular increase in the quality of German exports to go anywhere near explaining even a fraction of this. The Dutch have an even more bizarre 10%+ surplus, I don't hear any raving about the wonderful quality of their exports. It's simply a country saving much more than they spend, which is sucking demand out of the eurozone giving it a deflationary bias.

    However ridiculous you might think it is, it's simple macroeconomics: Capital flew from the center to the periphery of the eurozone (as a result of the elimination of exchange rate risk), the mirror image of that is producing trade deficits and higher inflation in the periphery, eroding their competitiveness without any correcting mechanism

    ["if they cannot, devalue internally"]

    How did that work out?

    It shrank economies and worsened their debt dynamics and worsened the deflationary bias..
    Mar 15, 2015. 04:25 PM | Likes Like |Link to Comment
  • Yes, Greece Can Be Saved Within The Euro [View article]
    ["The question is why would anyone else in Europe want to keep them in the Eurozone?"]

    Contagion might not be contained, the cost of a Greek default are huge..

    ["They will always be a drain on the Euro."]

    No, why?

    ["They and anyone else who does not want to follow most of the economic policies accepted by the bulk of the Eurozone should be allowed to leave."]

    What if the bulk of these policies were ill adviced? The article above tries to describe the contours of a better policy
    Mar 13, 2015. 11:47 AM | 2 Likes Like |Link to Comment
  • Yes, Greece Can Be Saved Within The Euro [View article]
    ["Unless your are advocating that Germany"]

    As it happens, I have actually advocated Germany running a much smaller current account surplus..
    Mar 12, 2015. 05:34 PM | 1 Like Like |Link to Comment
  • Greece, Democracy And The Euro Constraints [View article]
    Well, austerity has done considerable damage in Portugal and Spain as well and these governments have an incentive to give Greece as little as possible to cut the wind out of the sails of domestic opposition (especially Podemos in Spain).

    The mix of policies was wrong from the start, IMHO. They should have gone much more for reforming the economies and much less austerity. The heavy emphasis on the latter has been countercyclical and worsened debt dynamics and made implementing significant reforms that much more difficult politically.
    Mar 11, 2015. 03:30 PM | Likes Like |Link to Comment
  • Greece, Democracy And The Euro Constraints [View article]
    A Grexit can trigger a chain reaction where the weakest eurozone members are peeled off one by one. Nobody knows, but I wouldn't like to bet on it either way..
    Mar 10, 2015. 02:29 PM | 1 Like Like |Link to Comment
  • Greece, Democracy And The Euro Constraints [View article]
    A self-reinforcing bank run is a distinct possibility without ECB support. The Greek government cannot print money and doesn't have the funds to do much about it. They will have to do an Argentina (the infamous correlito), closing the banks, capital controls, etc. until they have an adequate answer, which is either renewed ECB funds or leaving the euro.
    Mar 10, 2015. 01:51 PM | 1 Like Like |Link to Comment
  • Greece, Democracy And The Euro Constraints [View article]
    Yes, Greece without ECB support is done in.
    Mar 10, 2015. 12:10 PM | Likes Like |Link to Comment
  • Greece, Democracy And The Euro Constraints [View article]
    Yes fellowtraveller, I'm aware of that.

    And no, austerity hasn't corrected the problem, quite the opposite. Austerity during a slump only deepens the slump and actually worsens debt dynamics through the denominator effect.
    Mar 10, 2015. 12:10 PM | Likes Like |Link to Comment
  • Greece, Democracy And The Euro Constraints [View article]
    ["Isn't Greece's debt alone enough leverage?"]

    Not necessarily. If Greece runs a primary surplus it could, in theory, default on its debt. However, the worsening in the economy might make that primary surplus disappear and the ECB has much more leverage over Greece through emergency funding of its banks. If it withholds that, Greece is effectively forced out of the euro as its banks will implode.
    Mar 10, 2015. 11:47 AM | Likes Like |Link to Comment
  • Greece, Democracy And The Euro Constraints [View article]
    Thanks for that tallguyz.
    Mar 10, 2015. 10:19 AM | Likes Like |Link to Comment
  • Sphere 3D Has A Large Upside [View article]
    ["I haven't seen Shareholders Unite or anyone else for that matter put some hard valuation data on the table."]

    Indeed. It's too early for that. The long thesis in the article above is based on three legs:
    - Glassware being a promising product (but with few sales to date so rather difficult to value at this stage)
    - The possibilities for a turn-around in Overland, based on the $23M synergies from Tandberg, the new RDX products, and a possible turn around in the tape market
    - The Overland sales/marketing/support structure and network of distributors and resellers enabling sales of Glassware and V3

    But most of this remains to be seen. I think Glassware is promising, but how promising is difficult to say (at least for me). I think there is a good chance for something of a turn around in Overland and there was an encouraging statement in the latest filings ("accreditive to earnings"), but this also remains to be seen.

    There has been an encouraging flurry of deals and partnerships since the merger closed, but how this translates into $$ is not yet known, at least not by me.

    Then again, investing is about the future and if there would be more certainty about the above we could simply value it, agree within certain parameter ranges, and that would be it.
    Mar 9, 2015. 01:02 PM | Likes Like |Link to Comment
  • Sphere 3D Has A Large Upside [View article]
    ["Give me a few minutes to focus on yours, there's still plenty to choose from"]

    One might have been under the impression that you had already read the article, since almost half the comments are from you here..

    Oh well..
    Mar 8, 2015. 04:48 PM | Likes Like |Link to Comment
  • Sphere 3D Has A Large Upside [View article]
    ["Hey guess what, it was the other recent article"]

    So I guess you owe me an apology..
    Mar 8, 2015. 11:41 AM | Likes Like |Link to Comment
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