in the world of inability to take responsibility...

[retro]

Greece is considering taking legal action against U.S. investment banks

Of course it couldn't have anything whatsoever to do with the fact that they were spending more than they brought in, right?

 

[ATKU2]

In all seriousness and respect for your opinion,
Overall, this economy and world has gone so far downhill
That there is nothing really left for us in this world...

At the least to say.... our government is somewhat destroyed
and made into a warzone of it's own status...

Basically, I'm sure Greece probably had a good reason to take a problem up with the U.S.

 

[edgray]

... as do most countries...

 

[retro]

In all seriousness and respect for your opinion,
Overall, this economy and world has gone so far downhill
That there is nothing really left for us in this world...

At the least to say.... our government is somewhat destroyed
and made into a warzone of it's own status...

Basically, I'm sure Greece probably had a good reason to take a problem up with the U.S.

except not really... it's not the bank's fault that they were spending more than they were taking in and their budget deficit was more than 100% of their GDP

 

[hart]

Hey if Greece can sue the U.S., why can't we sue the Banks? I want my tax dollars back!

 

[Tim]

Holy shit... Retro is the right leaning version of Kevin. :24:

Swoops in and creates a biased thread and doesn't add to the conversation... :24:

 

[edgray]

Holy shit... Retro is the right leaning version of Kevin.

Right leaning? That's an understatement...

... hang on though, is Kelvin left wing???

 

[hart]

... hang on though, is Kelvin left wing???

I don't know if I'd exactly categorize Kelvin as Left Wing.....just sayin'

 

[edgray]

I don't know if I'd exactly categorize Kelvin as Left Wing.....just sayin'

perhaps this is a better description:

 

[retro]

Holy shit... Retro is the right leaning version of Kevin. :24:

Swoops in and creates a biased thread and doesn't add to the conversation... :24:

Right leaning? That's an understatement...

... hang on though, is Kelvin left wing???

Try Libertarian... fiscally conservative, socially liberal. I really don't know how many more times I'm going to have to say that before you guys finally understand that concept.

In addition, I did add to the conversation, I disagreed with the assertion that Greece has the right to sue the banks for their own fiscal irresponsibility. Greece's debt is/was 125% of it's GDP, that tells me that the banks aren't at fault, it was their rampant spending above and beyond what it was able to bring in. It's the same problem that California is facing right now, and we're going to end up in the same boat as Greece soon enough unless we get a governor and legislature in place that understand that they can't keep raising taxes on individuals and businesses, because they're just driving the businesses and top tax bracket individuals out of the state.

Now dearest Tim, please tell me how what I've said "doesn't add to the conversation"? My original statement was a discussion starting question, and I have responded accordingly. Just because you don't agree with my politics doesn't mean that you get to compare me to Kelvin.

 

[edgray]

Try Libertarian... fiscally conservative, socially liberal. I really don't know how many more times I'm going to have to say that before you guys finally understand that concept.

I get the concept Retro, no need to be so touchy!

 

[Tim]

Yet you fail to acknowledge the other factors in Greece's demise.

1. Over spending like you said, but you need to take into account that 74% of their GDP is derived by services which are usually government run/funded.
2. Being sold a trillion dollars in bad mortgages that were rated triple A
3. Tax evasion. Which accounts for $20.5 Billion a year, a large chunk of their debt
4. Not having their own money that they could devalue. Thus not being able to lower interest rates to encourage more trading.

Not to mention the downturn in the global economy that hurt everyone.

So to blame "socialism" for Greece's woes are very one sided view. You need to open up your eyes to the bigger picture, the whole story not the part that feeds your agenda.

 

[Minor Axis]

2. Being sold a trillion dollars in bad mortgages that were rated triple A

Isn't that one of the complaints with the banks, they were cozy with the organization who rated investments, who classified highly risky derivatives as safe?

 

[retro]

Yet you fail to acknowledge the other factors in Greece's demise.

1. Over spending like you said, but you need to take into account that 74% of their GDP is derived by services which are usually government run/funded.

Do you not see a problem with that?

2. Being sold a trillion dollars in bad mortgages that were rated triple A

They were speculating with the taxpayer's money. Yes, the mortgages were rated AAA, but that doesn't mean there's no potential for loss.

3. Tax evasion. Which accounts for $20.5 Billion a year, a large chunk of their debt

And they've done what to handle this problem?

4. Not having their own money that they could devalue. Thus not being able to lower interest rates to encourage more trading.

If you're looking at the short term view, then you're right. However, they initially devalued their currency in order to fund their constant budget deficits that have been a part of how they've run their country for decades. Since the advent of the Euro, they obviously haven't been able to devalue their currency. So their debt to GDP was constantly over 100%, which is what set them on this downward spiral culminating in their entire government needing a bailout by the rest of the EU.

Not to mention the downturn in the global economy that hurt everyone.

So to blame "socialism" for Greece's woes are very one sided view. You need to open up your eyes to the bigger picture, the whole story not the part that feeds your agenda.

I actually never mentioned "socialism", so are you defining socialism as a system where the government spends more than it brings in so that it can finance social programs? Because that's what Greece is, and what the United States has become as well.

 

[Accountable]

So to blame "socialism" for Greece's woes are very one sided view. You need to open up your eyes to the bigger picture, the whole story not the part that feeds your agenda.

Where'd you get that from? You need to open up you eyes to the OP that was written, not the assumptions that feed your agenda.

 

[Peter Parka]

This thread is one of the main reasons I seriously give up with most Americans when it comes to politics,:willy_nilly: They love to rabbit on about how they saved our arse in WWII but for some reason the're not so forthcoming when it comes to the poverty they inflicted on the UK and debts that we didn't manage to pay off to the USA until less than 10 years ago. I dont know of all Greece's problems bu8t I'm guessing they have a few issues with the USA too for good reasons.

 

[Accountable]

Wow. You've got baggage.

 

[edgray]

Wow. You've got baggage.

over 60 years worth... it goes with the territory of being English...

 

[Accountable]

Maybe. I can only recall one person online (and none in RL) that rabbitted on about how we saved your arse in WWII, and many more that claim that we all do it.


Rabbit, that is.

 

[edgray]

Maybe. I can only recall one person online (and none in RL) that rabbitted on about how we saved your arse in WWII, and many more that claim that we all do it.

Rabbit, that is.

It's happened to me quite often, not once whilst I was living in the US, but online. It's a troll tactic. I have to say, it's not happened for a good while.