Greek radical left wins election, threatening market turmoil

[The Dharma Bum]

[Southern Dad]

That's great as long as the rest of the European Union is willing to keep carrying them. At this time, it looks like they are but a time could come when that changes. Is there a bankruptcy procedure for a country?

[Indy]

Wow that austerity thing sure worked out, didn't it?

[The Dharma Bum]

Well, at it's basis what "austerity" really means is that most of the wealth generated by the productivity of the Greek people is going to the bankers so the idea that this is some type of financial "reform" that will lead to solvency is categorically wrong.

At this point the debt has to forgiven for there to be any type of economic recovery in Greece, and if its not the Greek people will be forced into a drastic reaction in order to survive, which is what this election result suggests is happening now.

[Southern Dad]

[exploited]

[Indy]

[The Dharma Bum]

its not that simple, you cannot bleed a stone and trying to do so causes wars and shit.Which is why all major economists agree that the Greek debt is unsustainable and that some or part of it should be forgiven.

You realize these sorts of austerity measures in real terms mean seizing banks accounts, pensions etc from people who worked for that money? Also that the US is pretty close to having Greek style levels of debt. Would you be ok with the US government seizing your funds to pay their debt someday? Or would you welch yourself if that were the circumstances?

The only reason we aren't facing "austerity" measures ourselves is because the dollar is the international reserve currency and so we can defer the negative effects of our huge debt to countries like Greece, Spain, or Ukraine and which we then use the IMF shell game to plunder. So if it is a question of ethics you would to raise I doubt the legitimacy of the terms of these loans can pass the stink test. Because of the context in which these loans were issued was unethical to begin with forgiving them IS the ethical thing to do.


The people of Greece have chosen the left hand path. If the EU kicks them out it will probably collapse, if they choose to forgive all or part of Greece's debt a large portion of Europe is likely to go red. So Merkel is in between a rock and a hard place.

[Indy]

Oh, people like Paul Ryan and other austerity pimps have been trying to force us onto "austerity" for years now.

It's part of their Ayn Rand wet dream, but let me break it down for people who don't know the real reason they push it: they want to not just slice gov't to the bone, they want to drown it in the bathtub, per Grover Norquist.

Unless of course it's defense, where the check is left blank and the credit card limitless. Anything else is f***ing socialism and should face the austerity sword.

[Stratego]

Greece will break from the EU and join the Soviet bloc.