Greece: Now what?

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July 7th, 2015, 09:05 AM
terrym

The bigger problem is that if countries start bailing or getting booted from the Eurozone then it's value will tumble and then a huge part of the free and productive world is negatively affected. Never discount the wolves ( China, Russia) and loan sharks waiting in the shadows to make this crisis worse in terms of Global stability/security.
July 7th, 2015, 09:11 AM
werner.reiche

Quote:

Originally Posted by HaroldH

But at least Japan has a yen to pay off their debt whereas Greece has no yen!!

That's good - and it explains the difference well.
July 7th, 2015, 11:02 AM
JBen

I always laugh when ever I see people "blaming" banks.
You need to ask yourself the one very simple question. Are banks/lenders the beast, or the hand the feeds the beast. Anyone see any Banks forcing Ms Wynne to spend and live beyond her means?

So very typical, it's human nature to blame the supplier for the addicts addiction. No different than blaming liquor stores for an alcoholics problems, or a casino for a gamblers, or the cartels in Mexico for the junkies.

Money makes the world spin, and without debt or financing we might very well live in the stone age and barter system. Banks, financiers and more are only the hand that feeds the insatiable appetite.
July 7th, 2015, 02:14 PM
FishingMonkey

Guys! Good news!

Not sure if you heard, but Greece has come up with a repayment plan!

http://www.thedailymash.co.uk/news/i...=socialnetwork
July 8th, 2015, 05:56 PM
intothedeep

Quote:

Originally Posted by Hunter John

Ontario with a population of 13.6 million has a debt of 300 billion dollars. Greece has a population of 11.3 million and a debt of 360 billion. So this is already happening in Canada.

Lol, this sounds like something SUN news would spew to stir up the lads...

While it is true, it's only half the story;

How much does ON make vs Greece? Whoops 700 billion a year for us, to Greece's 285 billion... Mountains to mole hills... lol
July 8th, 2015, 07:09 PM
Hunter John

Quote:

Originally Posted by intothedeep

Lol, this sounds like something SUN news would spew to stir up the lads...

While it is true, it's only half the story;

How much does ON make vs Greece? Whoops 700 billion a year for us, to Greece's 285 billion... Mountains to mole hills... lol

Then why the fack are we 300 billion in debt? Tell me wise one , do we have a revenue problem or a spending problem?
July 8th, 2015, 07:27 PM
yellow dog

Quote:

Originally Posted by Hunter John

Then why the fack are we 300 billion in debt? Tell me wise one , do we have a revenue problem or a spending problem?

A witch problem!
July 8th, 2015, 07:32 PM
intothedeep

Quote:

Originally Posted by Hunter John

Then why the fack are we 300 billion in debt? Tell me wise one , do we have a revenue problem or a spending problem?

Those are big discussions for another time... But a clue for you to think about, if that's possible, would be how much GDP growth(yes the other side of debts...) we've had since 2003, in billions... That will tell you how bad or not so bad things really are...

Anyhow compairing us one of the most prosperous economies(though with challenges) on earth to Greece is a little silly for anyone:)
July 8th, 2015, 09:34 PM
trimmer21

Quote:

Originally Posted by intothedeep

Those are big discussions for another time... But a clue for you to think about, if that's possible, would be how much GDP growth(yes the other side of debts...) we've had since 2003, in billions... That will tell you how bad or not so bad things really are...

Anyhow compairing us one of the most prosperous economies(though with challenges) on earth to Greece is a little silly for anyone:)

Holy crap,is that ever Liberal bullshyte spin if I ever heard it. Ontario's debt to GDP ratio at the end of 2013 stood at 37% and has been steadily declining up until last Friday when S&P issued the downgrade. We were paying an interest rate of 4%. With the recent downgrade by S&P,that interest rate will go to,at least, 6%,possibly higher adding to the net deficit. According to you,though,everything is rosy except for some "challenges".
That's OK,ITD. Your fearless leader has it all figured and "The budget will balance itself." Chryst almighty you Liberals are a piece of work.:silly:
July 8th, 2015, 09:54 PM
intothedeep

Quote:

Originally Posted by trimmer21

Holy crap,is that ever Liberal bullshyte spin if I ever heard it. Ontario's debt to GDP ratio at the end of 2013 stood at 37% and has been steadily declining up until last Friday when S&P issued the downgrade. We were paying an interest rate of 4%. With the recent downgrade by S&P,that interest rate will go to,at least, 6%,possibly higher adding to the net deficit. According to you,though,everything is rosy except for some "challenges".
That's OK,ITD. Your fearless leader has it all figured and "The budget will balance itself." Chryst almighty you Liberals are a piece of work.:silly:

Ahh smoking the grass again eh "Trimmer"... TRIMMER!!!

What is the debt/GDP ratio of Greece, now compare that to ON, case dismissed! I know I know we live in third world violent monarchy slum that we can only afford to eat cake... Hey listen I'm not even that big a fan of the libs, I just have to point out some of "sun" washed horse manure here once and while... TRIMMER!!!

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