Riots in Greece

souggy said:
Or worse... Chinese?

Kinda sad when the Japanese, Chinese and Europeans own the bulk of our domestic market, stock-wise.
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oh the travesty! :run:
 
Foxrac said:
Ford hasn't declare the bankruptcy nor is remove the union contract.
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They were on the brink.....they saved themselves. Many big companies have recovered from bankruptcy. Many people too. Henry Ford even had to declare bankruptcy once.
 
becoming increasingly aware

I am somewhat of a closet sitter. Never really liked politics, nor did I get too involved outside of my own environment (home/work). However, in the last year or so I have become increasingly aware of the world around me. I am finding (coming out of the closet) that it would be of my best interest to at least be aware of what is going on in the world today. Who knows how each day will affect my world.

Thanks, Reba, for keeping me on my toes. :)
 
Reba said:
It will be coming here.

I'm surprised more ADers aren't interested in world affairs. I thought the complaint was always that Americans didn't pay attention to what was going on in the rest of the world.

Maybe it's true. :dunno:
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Sadly, Reba, it's true. I think government has become so dishonest and greedy, and the people had no real power or say in government affairs, so many people threw their hands up in disgust and stopped caring.

I could be naive though - I'm only just now getting ito the loop of it all.
 
Greece have something like 115% debt of their GDP, while the US got around 90% and is heading towards 140% within two decades. The situation is similar for many other countries.

Part of the trouble is that Greece can't print away their problems, like US can do when they bail out debts, or at least, try to. Greece are bound to the euro, and needs approval from the other states to get a bail out. The scary part, is that Greece is perhaps doing very well because they are acting NOW, and have a lot of space for improvement. That can't be said for many other countries in europe and outside.

I agree with some greeks that a bail out perhaps not is the best solution. The greeks should instead get indepedent from foreign debt, and make debt federal, like Japan is. This would of course be bad news for big corporate banks, who lobby their wits out to get approval for massive bail outs.
 
Barbaro said:
My European friends are still talking about how they are upset with Greece being so corrupt and there have been claims in 2004 indicates Greece has lied about the numbers when it comes to the economy. EU countries at time were happy to admit Greece then, and have been taking money from them ever since.

Now, Europeans state Greece should have never been approved for the Eurozone as they had no way of living to the economic requirements. Europeans are not happy to award fraud to Greece with money. According to my European friends, countries are much poorer than Greece have to take loans themselves in order to be able to give loans to Greece. Ouchie.

They also said that tax evasion is widespread problem and is not able to be enforced. If Greece still has their own currency, they could used it to compensate and to balance their economy. Some Europeans outside of Greece have no sympathy for Greeks.
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I believe it's a bit oversimplified to claim Greece lied about numbers. It's well known how Goldman Sachs helped Greece to mask their debt. Not saying Goldman Sachs are the only one to blame, but it's more a game of how corporate banks make money on debts and a clouded market.
 
TXgolfer said:
They were on the brink.....they saved themselves. Many big companies have recovered from bankruptcy. Many people too. Henry Ford even had to declare bankruptcy once.
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In bold, sure but not some companies, especially Circuit City, American Motors, Lehman Brothers and some companies since they are gone or bought after bankruptcy.
 
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