Greeks vote to reject incumbants, austerity

[McHrozni]

I think it is becoming clearer that Tsipriis and company are pretty much Neo Marxist masquarading as "reformers".

Mm, yeah. Although he apparently got down on all fours yesterday, and begged for money.

McHrozni

 

[The Don]

Latest UK government advice for UK pensioners retired in Greece:

https://www.gov.uk/government/news/...vice-about-state-pension-and-welfare-payments

The Department for Work and Pensions (DWP) will attempt to contact people that draw a British State Pension from a Greek bank account, and help people to switch these payments to a non-Greek bank account if they wish.

 

[bit_pattern]

http://krugman.blogs.nytimes.com/20...Opinion&action=Click&pgtype=Blogs&region=Body

So, how does this play into U.S. policy debates? Well, Republicans love to warn that America might turn into Greece any day now. But look at the policy mix that is now de facto GOP orthodoxy: sharp cuts in government spending (maybe offset by tax cuts for the rich, but these won’t provide much stimulus), combined with a monetary policy obsessed with fears of dollar “debasement”. That is, the conservative side of the US political spectrum, while holding up Greece as a cautionary tale, is actually demanding that we emulate the policy mix that turned Greek debt into a complete disaster.

 

[McHrozni]

http://krugman.blogs.nytimes.com/20...Opinion&action=Click&pgtype=Blogs&region=Body

The policy that turned Greece into a complete disaster was populist vote buying schemes, reckless government spending and a massive and unsustainable growth in government deficit.

The cuts that followed were just a necessary correction to remedy the largest excesses. They would happen anyway, the only question is whether they would be followed by an exit from Euro and hyperinflation and the assorted problems or not.

But you knew that, didn't you.

McHrozni

 

[bit_pattern]

The policy that turned Greece into a complete disaster was populist vote buying schemes, reckless government spending and a massive and unsustainable growth in government deficit.

The cuts that followed were just a necessary correction to remedy the largest excesses. They would happen anyway, the only question is whether they would be followed by an exit from Euro and hyperinflation and the assorted problems or not.

But you knew that, didn't you.

McHrozni

Imma stick with the Nobel Prize winning economist's narrative over that of random man on internet's - but thanks all the same!

 

[McHrozni]

Imma stick with the Nobel Prize winning economist's narrative over random man on internet's - but thanks all the same!

I'm not in any significant disagreement with that guy. All he's saying is that a sensible economic stewardship plus Grexit would be significantly better than austerity. The Greek governments were thus far unable to secure the former, and a Grexit under an economically illiterate government (like Syriza) would be an unmitigated disaster. We might as well be debating the merits of massive hitherto undiscovered hydrocarbon reserves in the Egean sea. They would benefit Greek economy enormously too, and finding them is just as likely as capable economic stewardship from Greek government.

McHrozni

 

[Ts4EVER]

What Greece needs isn't austerity, which is just a code word for saving banks with what little money the poor and pensioners have, it needs reform of the tax system, destruction of the corrupt and clientelist systems and the rich paying back taxes for all those years of free loading. All of this the "New Democracy" puppets were afraid to do. Now the Greek economy is in shambles even more and the Nazis and xenophobic immigrants are knocking at the door.

 

[McHrozni]

What Greece needs isn't austerity, which is just a code word for saving banks with what little money the poor and pensioners have, it needs reform of the tax system, destruction of the corrupt and clientelist systems and the rich paying back taxes for all those years of free loading. All of this the "New Democracy" puppets were afraid to do. Now the Greek economy is in shambles even more and the Nazis and xenophobic immigrants are knocking at the door.

Yes, that's true - in other words, it needs competent economic stewardship. After that it needs only very limited amount of austerity (e.g. in early retirement section, possibly a few others as well) to make economy more competitive and growing.

Syriza has offered to do none of those, but they'd like to stay in Euro and receive the free money anyway.

McHrozni

 

[aleCcowaN]

The Germans are saying: timeo danaos et dona ferentes.

Are they being lied? Indeed. They have lied to themselves first, so, what's the problem?

[Back to business, see you probably on Monday]

 

[Ts4EVER]

Syriza has offered to do none of those, but they'd like to stay in Euro and receive the free money anyway.

From Syrizas "Mission Statement":

6. Adoption of a tax on financial transactions and a special tax on luxury goods.
8. Abolition of financial privileges of the Church and ship building industry.
9. Combat the banks secret measures and capital flight abroad.

Especially the ship building industry is a huge reason why rich people rarely pay taxes in Greece... Who better than communists to reappropriate some Yachts and villas?

 

[Ziggurat]

Especially the ship building industry is a huge reason why rich people rarely pay taxes in Greece... Who better than communists to reappropriate some Yachts and villas?

I'm a little surprised to learn that there is a Greek ship building industry. Would you trust your life to a boat built by Greeks?

 

[The Don]

I'm a little surprised to learn that there is a Greek ship building industry. Would you trust your life to a boat built by Greeks?

Why not ?

 

[GlennB]

Especially the ship building industry is a huge reason why rich people rarely pay taxes in Greece... Who better than communists to reappropriate some Yachts and villas?

All the links I've seen to that program seem to stem from a translation of an article in the daily bulletin of Italy’s Communist Refoundation Party, May 2012. Example

I think you'll find it's the merchant shipping fleet that's the big deal, and a possible source of mistranslation? Ship building in Greece is a small sector and has been shrinking even more for many years in the face of competition from Asia.

Greece has a massive 'own flag' merchant fleet, mainly because if they were taxed they'd do what merchant fleets do the world over and sail under a flag of convenience.

 

[bit_pattern]

I'm a little surprised to learn that there is a Greek ship building industry. Would you trust your life to a boat built by Greeks?

Casual racism. How cute.

Sent from my Nexus 5 using Tapatalk

 

[bit_pattern]

I'm a little surprised to learn that there is a Greek ship building industry. Would you trust your life to a boat built by Greeks?

Does the name Onassis mean anything to you? Ya know, the 'O' in Jackie O of Camelot fame?

Sent from my Nexus 5 using Tapatalk

 

[BobTheCoward]

Does the name Onassis mean anything to you? Ya know, the 'O' in Jackie O of Camelot fame?

Sent from my Nexus 5 using Tapatalk

Same thing I always think when someone marries someone 20 years younger.

 

[GlennB]

I'm a little surprised to learn that there is a Greek ship building industry. Would you trust your life to a boat built by Greeks?

Strange comment, and that's putting it mildly.

 

[Giz]

I'm a little surprised to learn that there is a Greek ship building industry. Would you trust your life to a boat built by Greeks?

As long as the crew includes some Germans, to bail it out.

 

[dudalb]

No, the implication is that misery and suffering are bad and left wing politics are a better way to stop it than right wing politics.

Yeah, the Soviet Union, Mao's China,and Pol Pot's regime were so great at relieivng misery and suffering.

 

[dudalb]

From Syrizas "Mission Statement":



Especially the ship building industry is a huge reason why rich people rarely pay taxes in Greece... Who better than communists to reappropriate some Yachts and villas?

Have anything to offer other then old school Marxist rhetoric......