Just_A_Guy Posted December 18, 2009 Report Share Posted December 18, 2009 "Cradle of democracy" being Greece, of course. Story here. Quote Link to comment Share on other sites More sharing options...
bluedreams Posted December 18, 2009 Report Share Posted December 18, 2009 "Cradle of democracy" being Greece, of course. Story here.So wait....there's actually consequences to massive debt when you're a country??? I thought it was just a pretty number that people like to flash...when it got bad countries just had a magical reset button that lowered it or just sold it off to other countries. You know, like trading baseball cards or something...guess greece just got stuck with all the bad baseball players But seriously, I didn't realise countries actually could. I know there are problems with LDC's with debt from loans to organizations like the IMF....but thats about the extent of my knowledge on said things.With luv,BD Quote Link to comment Share on other sites More sharing options...
boyando Posted December 18, 2009 Report Share Posted December 18, 2009 Indirectly, this maybe why the Chinese are still buying our debt. All be it a smaller scale than before. Quote Link to comment Share on other sites More sharing options...
Moksha Posted December 19, 2009 Report Share Posted December 19, 2009 Indirectly, this maybe why the Chinese are still buying our debt. All be it a smaller scale than before. Helping to prop up our economy, eh? Hopefully, it will not get so small that we have no money like Greece. Quote Link to comment Share on other sites More sharing options...
Just_A_Guy Posted December 19, 2009 Author Report Share Posted December 19, 2009 So, Moksha, are you saying that the Left will finally embrace American Exceptionalism as the rest of Europe realizes it can't pay the piper for all of its social programs? Quote Link to comment Share on other sites More sharing options...
boyando Posted December 19, 2009 Report Share Posted December 19, 2009 Helping to prop up our economy, eh? Hopefully, it will not get so small that we have no money like Greece.More like, they have no were to invest but the United States. A bad investment is better than a investment were you would have been better off burning your money in a fireplace. In the fireplace, at least you get a little heat. Quote Link to comment Share on other sites More sharing options...
Just_A_Guy Posted December 24, 2009 Author Report Share Posted December 24, 2009 From the New York Post:2010: The Year of Bankrupt Governments Quote Link to comment Share on other sites More sharing options...
FunkyTown Posted December 24, 2009 Report Share Posted December 24, 2009 From the New York Post:2010: The Year of Bankrupt GovernmentsFascinating news, JAG. That's bad news, too.Countries with a widening gap between rich and poor start wars or revolutions. It's always happened:Germany post WWI reparations.Tsarist RussiaPhlahvi's IranRevolutionary FranceAnd so on and so forth back to the beginning of time.When families that could feed their children in comfort suddenly see them going hungry, someone has to pay the piper and if the government can't come up with an enemy, they become the enemy.2010 could be difficult. Quote Link to comment Share on other sites More sharing options...
Just_A_Guy Posted December 24, 2009 Author Report Share Posted December 24, 2009 I agree, Funky. And the prevalence of broad social programs only exacerbates this, because we've been groomed to expect more from our government and the idea that something's being "taken away" always strikes a very potent nerve. ( remember, in law school, seeing studies about how people will shell out huge amounts of money--far more than makes economic sense--in order to keep something they've come to regard as "theirs").The Romanovs ruled Russia for 300 years--not because Russia was a haven of class equality for much of that time, but because the serfs didn't really expect their rulers to take care of them. Quote Link to comment Share on other sites More sharing options...
Hemidakota Posted December 28, 2009 Report Share Posted December 28, 2009 "Cradle of democracy" being Greece, of course. Story here.We stand at the gates of the same problem. Quote Link to comment Share on other sites More sharing options...
Hemidakota Posted December 28, 2009 Report Share Posted December 28, 2009 I agree, Funky. And the prevalence of broad social programs only exacerbates this, because we've been groomed to expect more from our government and the idea that something's being "taken away" always strikes a very potent nerve. ( remember, in law school, seeing studies about how people will shell out huge amounts of money--far more than makes economic sense--in order to keep something they've come to regard as "theirs").The Romanovs ruled Russia for 300 years--not because Russia was a haven of class equality for much of that time, but because the serfs didn't really expect their rulers to take care of them.Was it the last days of Rome, who populist rather have 'bread and circus' then to work an honest day without having a government handout? Quote Link to comment Share on other sites More sharing options...
trulykiwi Posted January 5, 2010 Report Share Posted January 5, 2010 From the New York Post:2010: The Year of Bankrupt GovernmentsI remember studying the old testament in a class once and and we were taught that the bankrupt nations will gather for armageddon. I think it may have been Daniel or Jeremiah we were studying. But all the same I believe nations will become bankrupt so that doesn't surprise me that 2010 will be bleak! Somewhere along the line it's going to happen. Quote Link to comment Share on other sites More sharing options...
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