Varoufakis Resigns...
- Thread starter heckler73
- Start date
abandonconflict
Well-Known Member
You clearly don't know what socialism means. It has nothing to do with tax structure. Besides, I never called Ireland "full socialist". Healthcare and education are part of economic infrastructure and resources, they are either privately owned (capitalism) or not (socialism).
2nd Place RIU Top Post of The Day Award..1st Place - @travisw
+rep
AC what do you expect from someone who refuses to check facts or cite?
protestant.
Harrekin
Well-Known Member
abandonconflict
Well-Known Member
Trollportunities
NewtoMJ
Well-Known Member
Why do you avoid the question? Can't find any economists? Yea, the market which is run by banks (a lot of the same ones trying to intimidate Greece) are not too happy. When will you stop being drawn into the left and right shit that's developed to keep people at odds with one another?
Harrekin
Well-Known Member
Many economists working for said banks...
What was your point again?
And let's say you're correct, regardless of what the "independent economists" say will happen, the banks are so powerful can manipulate the situation to match their narrative.
Look at the scale of market manipulation that came out recently regarding the Forex markets...it makes the economic output of the superpowers look like pocket change.
Pinworm
Well-Known Member
71% of adults here are Christian. Numbers are dropping though. It was about 80% in 2007.
see4
Well-Known Member
Harrekin
Well-Known Member
Greece is fucked, exactly how many orders of magnitude they're fucked is what's up for discussion.
NewtoMJ
Well-Known Member
So because their corruption is powerful, we should just shut up and deal with it? Sounds pretty leftist to me.
UncleBuck
Well-Known Member
gonna laugh my ass off when nothing you predict comes true, like always.
UncleBuck
Well-Known Member
yawn.
you dumbasses have been banging the "OMGZ GREECE!" drum for almost a decade now.
Chester da Horse
Well-Known Member
I wanted to share this...
my neighbour is in greece at the moment after a family wedding, and he sent me a picture of what the ATMs in Athens show...
my neighbour is in greece at the moment after a family wedding, and he sent me a picture of what the ATMs in Athens show...
heckler73
Well-Known Member
Some sober thoughts from Wynne Godley in October of 1992:
What happens if a whole country – a potential ‘region’ in a fully integrated community – suffers a structural setback? So long as it is a sovereign state, it can devalue its currency. It can then trade successfully at full employment provided its people accept the necessary cut in their real incomes. With an economic and monetary union, this recourse is obviously barred, and its prospect is grave indeed unless federal budgeting arrangements are made which fulfil a redistributive role. As was clearly recognised in the MacDougall Report which was published in 1977, there has to be a quid pro quo for giving up the devaluation option in the form of fiscal redistribution. Some writers (such as Samuel Brittan and Sir Douglas Hague) have seriously suggested that EMU, by abolishing the balance of payments problem in its present form, would indeed abolish the problem, where it exists, of persistent failure to compete successfully in world markets. But as Professor Martin Feldstein pointed out in a major article in the Economist (13 June), this argument is very dangerously mistaken. If a country or region has no power to devalue, and if it is not the beneficiary of a system of fiscal equalisation, then there is nothing to stop it suffering a process of cumulative and terminal decline leading, in the end, to emigration as the only alternative to poverty or starvation.
http://www.lrb.co.uk/v14/n19/wynne-godley/maastricht-and-all-that
What happens if a whole country – a potential ‘region’ in a fully integrated community – suffers a structural setback? So long as it is a sovereign state, it can devalue its currency. It can then trade successfully at full employment provided its people accept the necessary cut in their real incomes. With an economic and monetary union, this recourse is obviously barred, and its prospect is grave indeed unless federal budgeting arrangements are made which fulfil a redistributive role. As was clearly recognised in the MacDougall Report which was published in 1977, there has to be a quid pro quo for giving up the devaluation option in the form of fiscal redistribution. Some writers (such as Samuel Brittan and Sir Douglas Hague) have seriously suggested that EMU, by abolishing the balance of payments problem in its present form, would indeed abolish the problem, where it exists, of persistent failure to compete successfully in world markets. But as Professor Martin Feldstein pointed out in a major article in the Economist (13 June), this argument is very dangerously mistaken. If a country or region has no power to devalue, and if it is not the beneficiary of a system of fiscal equalisation, then there is nothing to stop it suffering a process of cumulative and terminal decline leading, in the end, to emigration as the only alternative to poverty or starvation.
http://www.lrb.co.uk/v14/n19/wynne-godley/maastricht-and-all-that
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