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Tricky

Tricky
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  • Greece Referendum: No - 61.1%. Yes - 38.9% [View news story]
    Your link is amusing. I like how they portray the shortfalls as a "betrayal" of govt employees and potential shortfalls in services to taxpayers, as more of the budget gets sucked up funding pensions. No mention of the betrayal of public sector taxpayers as these pension scams were set up in the first place with overly generous benefits not adequately funded by the beneficiaries. Public sector pensions are one of the biggest scams in the history of mankind.
    Jul 5, 2015. 10:24 PM | 3 Likes Like |Link to Comment
  • Greece Referendum: No - 61.1%. Yes - 38.9% [View news story]
    So you'll be in the front of the line to buy their neodrachma-denominated bonds, right?
    Jul 5, 2015. 10:06 PM | 1 Like Like |Link to Comment
  • Greece Referendum: No - 61.1%. Yes - 38.9% [View news story]
    Well, that was then and this is now. If they're going to continue to look for excuses and whisper darkly about foreign conspiracies as the reasons for all their failures, then they really do have no hope until they hit rock bottom and have their come to Orthodox Jesus moment.

    There are just better uses of the IMF money, which is what I care about, as an American taxpayer.
    Jul 5, 2015. 09:26 PM | 1 Like Like |Link to Comment
  • Greece Referendum: No - 61.1%. Yes - 38.9% [View news story]
    They're good for it. Promise.
    Jul 5, 2015. 08:33 PM | 1 Like Like |Link to Comment
  • Greece Referendum: No - 61.1%. Yes - 38.9% [View news story]
    Yes, the Greeks have had no choice but to not collect taxes or engage in widespread disability fraud like this.

    http://bit.ly/1H2qhQq

    Looks like the Germans used their helping hand wisely.

    If you haven't noticed, it's 2015, not the 1950's.
    Jul 5, 2015. 08:30 PM | Likes Like |Link to Comment
  • Greece Referendum: No - 61.1%. Yes - 38.9% [View news story]
    @Land of Milk and Honey -- yep, ditto
    Jul 5, 2015. 08:24 PM | 2 Likes Like |Link to Comment
  • Greece Referendum: No - 61.1%. Yes - 38.9% [View news story]
    The EU is a fatally flawed experiment. All that's left is the kabuki dance of bubblegum and bandaids. We'll see how long it takes to play out.
    Jul 5, 2015. 06:47 PM | 2 Likes Like |Link to Comment
  • Greece Referendum: No - 61.1%. Yes - 38.9% [View news story]
    Amazingly, the world keeps lending money to Argentina. Some fool will lend to Greece one day.
    Jul 5, 2015. 03:28 PM | 6 Likes Like |Link to Comment
  • European stocks waver ahead of Greek vote [View news story]
    "You only have a 60 percent unemployment rate for youth. You’ve got to increase the unemployment rate to 80 percent, double the emigration, in order for us to make the loans to your government that will turn right around and pay us"

    I pretty much stopped reading it there, as it became extremely evident that this is nonsense.
    Jul 4, 2015. 06:20 PM | Likes Like |Link to Comment
  • European stocks waver ahead of Greek vote [View news story]
    In the interests of accuracy, it was over 90% of diagnosed blindnesses on that island, not 80% of the whole island's population.

    Even so, the most telling part of the story was the angry demonstrations when the mayor put an end to the fraudulent payments.

    Yeah. It's all the Germans fault.
    Jul 4, 2015. 01:19 PM | Likes Like |Link to Comment
  • European stocks waver ahead of Greek vote [View news story]
    Dr Evil: C'mon everyone, it's time to start the SPECTRE meeting. First point on the agenda, how shall we crush Greece a little harder?

    Blofeld: I'm hungry, can we get the kitchen to send up some freshly tortured kittens?

    Dr. Evil: Good idea. And a bottle of Greek tears to wash them down, please.
    Jul 4, 2015. 12:38 PM | 2 Likes Like |Link to Comment
  • Varoufakis promises to quit if Greeks vote for austerity [View news story]
    Hi KMI, I will simply and respectfully state that I read between the lines on those Varoufakis statements as a deliberately misleading conflation of distinct issues and events. I simply don't buy (in essence) "the lenders won't allow us to reform".

    As the kids say these days, "I can't even..."

    Cheers.
    Jul 4, 2015. 12:29 PM | Likes Like |Link to Comment
  • Varoufakis promises to quit if Greeks vote for austerity [View news story]
    Actually, I would be very supportive of a debt reduction, as there is no way that Greece can ever pay its debts. I agree that the Germans do have an helpful austerity fetish (The Economist had an interesting article recently on the philosophy / morality foundation that uniquely plays to this in Germany). The problem is that Greece has no credibility in being willing to do enough on the big structural reforms -- like collecting enough taxes, fighting corruption, overhauling its judicial system, etc. They just want the bailout, with no meaningful conditions, other than some empty promises that they will backslide on right after getting the money... just like last time.

    Syriza is not forward looking, it is very backward looking, in trying to sell the public that it can return them to a faux golden time that was enjoyed during the early days of their EU membership. They're playing to the "insult to national sovereignty" card... well, when you take money, you also have to accept the conditions. I find it hard to blame the Germans that they're thinking "man, we can't do business w/ these guys" because all lenders evaluate at their borrowers in this way.

    What's new? Don't like the conditions, find another funding source. If all you have is limited and highly unattractive alternatives, that tells you all you need to know about your credibility -- and that's THE core problem with Greece. Well, that and they don't really belong in a hard money currency union with first world countries, but that's a broader discussion.

    Anyway, have a happy 4th of July.
    Jul 4, 2015. 11:30 AM | Likes Like |Link to Comment
  • Varoufakis promises to quit if Greeks vote for austerity [View news story]
    LOL, you mean other than pointing out the mass of modern Greek history that exposes the lie that Syriza won't be back for more? They not only are refusing to reform the things that kill Greece's productivity and competitiveness, they actually want to go backwards re: state dependency and unfunded pensions at ridiculous retirement ages.

    What in the world would make you think you can take that statement at face value?

    If Greece had credibility, it would have more attractive options. But it doesn't, so it doesn't.
    Jul 4, 2015. 10:57 AM | Likes Like |Link to Comment
  • Varoufakis promises to quit if Greeks vote for austerity [View news story]
    They're lying. They WILL be back for more. Greece is a basket case and has no hope of going any further without more funding assistance.

    So we'll see you at the front of the line to buy those drachma bonds at attractive lending rates for them?
    Jul 4, 2015. 10:18 AM | 1 Like Like |Link to Comment
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